July 8, 2026, 11:38 AM EDT. Options on the VanEck Semiconductor ETF (SMH) with July 15 expiration started trading. The $580 put is bid at $13.25, translating to a 2.28% annualized yield if it expires worthless, and could let investors pick up SMH below the $584.15 spot price. There's also a $595 call, bid at $14.10, for a 4.27% return if called, though that limits the upside. Both are out-of-the-money, and the put shows a 58% chance to expire worthless. For investors, these strikes lay out paths for income or buying the ETF at a lower price as markets shift.
