We’re seeing loads of choppy flow to start the week as we get set to dig into another big stretch of earnings...
But if there’s one thing big-money traders seem to agree on Monday, it’s that they’re all bearish on semiconductors.
It looks like Speaker of the House Nancy Pelosi isn’t backing down from her announced trip to Taiwan, which includes meetings with government leaders.
The trip has drawn fire from officials in Beijing, who consider the island nation a part of China, claiming the People’s Liberation Army is prepared to take action in response.
While the statement is likely nothing more than saber-rattling, Wall Street isn't expecting any positives from the semiconductor sector, which has a major presence in Taiwan.
We’re even seeing major protective put flow including big buys in one of Pelosi’s favorite stocks, Nvidia...
And there are plenty more chip names seeing bearish flow where that came from...
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