On April 25, 2026, renowned investor and the prototype for 'The Big Short,' Michael Burry, posted on Substack that he had established a new short position by purchasing put options on the iShares Semiconductor ETF (SOXX) with a strike price of $330, expiring in January 2027. This move comes at a time when the Philadelphia Semiconductor Index has recorded 18 consecutive trading days of gains. Burry believes that the current rally is driven by technical factors and lacks fundamental support for the narrative of chip supply shortages, suggesting that those holding long positions in semiconductor stocks should consider selling.
