SMH
SMH · Sep 21, 2026
$596.03
Shares
Buy on a dip
Index fund, no fair value. It is 5% or more below its high: that is the dip we buy.
How we value it ›Prices as of 11:47 PM ET, Sep 21. Check the live quote before you send an order.
The put
Skip
Skip the put. The money looks good, but SMH swings more than it pays. Want SMH? Buy shares.
If it goes against you: you buy 100 shares at $590, which after the $2,402 you keep works out to $565.98 a share. Below $565.98 you are down on the trade. From that day the shares take above is the one that applies.
The order, if you sell it anyway
You get$2,402 (limit about $24.02)
If it fallsBuy 100 shares at $590
Cash to hold$59,000
Close earlyBuy back at about $14.41 ($1,441)
Chance you buy the sharesabout 41 in 100
ContractSMH Oct 30 $590 put
ActionSell to open
In your broker app: open the stock → Trade → Options → Sell to open → pick the contract shown here.
Why skip
The put: Oct 30, $590 strike, 39 days out. Pays $2,402. Roughly a 41-in-100 chance you end up buying the shares.
On paper: 38% a year. That number assumes SMH keeps moving like it did the past two years. Take that away and it is -0% a year. That is why we say skip.
If you already own 100 shares
Income call
For income on SMH you already hold: sell the Oct 16 $660 call and take $362 now. If SMH climbs to $660 by Oct 16, your 100 shares are sold at $660, so only do it if you're happy selling there.
If it climbs past $660 your 100 shares are sold at $660 and you keep the $362. That is the trade working, not a loss.
The call order
ActionSell to open
ContractSMH Oct 16 $660 call
You get$362 (limit about $3.62)
If it climbsYour 100 shares sell at $660
Chance your shares are soldabout 15 in 100
After removing the trend-9% a year
First take on SMH. Result Oct 30. See the record
Everyone sees the same card. It is not advice for you personally. You can lose more than you collect.
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