Andy Constan: OTM call demand rises across semiconductor index components

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Andy Constan: OTM call demand rises across semiconductor index components — OTM calls bid up in semiconductors

Andy Constan, founder and strategist at Damped Spring Macro, observes that out-of-the-money (OTM) call options are being more heavily bid than at-the-money (ATM) calls across all top components of the semiconductor index.

He questions whether this behavior suggests market participants are adequately hedged.

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Constan has previously pointed to challenges in risk management for investors holding long BTC and MSTR positions during a period of significant market losses, questioning traditional risk metrics. He also highlighted that debates around GOOG's equity raises often overlook the steady issuance of shares to employees. These observations reflect Constan's ongoing focus on market structure and hedging practices.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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