#Vanecksemiconductoretf

The trade is fairly simple: sell downside protection in semiconductor names where volatility is expensive, and buy downside protection in the S&P 500, where it's relatively cheap.

Shares of Nvidia fell a bit on Tuesday after a WSJ report raised questions about OpenAI growth targets and the whole AI complex.

The VanEck Semiconductor ETF (SMH) tracking the sector is up more than 30% this month.