SMH Options Are Pricing a $40 Move Into Friday — Our Read Sees Half That

VanEck Semiconductor ETF — ticker SMH — sitting at $540.81 as we start August 1, 2026. The options market is leaning slightly bullish here, and it's pricing a wide range into the August 7 expiration: something like $501 on the low end, $581 on the high end. That's the market's best guess at how far this thing could swing in the next six days. And there's one number that breaks the whole read…

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