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‼️US CHIP STOCK VOLATILITY IS SKYROCKETING: The 30-day realized volatility of the semiconductor index, $SOX, relative to the S&P 500 has surged to 4.9x, the highest reading in at least 30 years. This comes as $SOX has fallen -20% from its June peak, officially entering a bear market. Meanwhile, the 3x leveraged long semiconductor ETF, $SOXL, has fallen roughly -28% last week alone. Not even the 2000 Dot-Com Bubble saw such explosive moves in chip stocks. The AI trade has created a volatility gap unlike anything seen before.

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