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A large options trade involving a strangle was executed on SMH, with the bet indicating expectations of significant movement in the ETF into November.
The development was highlighted by Yuriy Matso.
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Matso has reported on notable shifts in major markets in recent months. He previously highlighted a 6.6% drop in QQQ over eight sessions. Matso has also tracked energy price movements, noting a rise in the diesel crack spread to $113 a barrel.