The iShares Semiconductor ETF (NASDAQ:SOXX) fell 2% Monday, breaking its longest winning streak on record after “The Big Short” investor Michael Burry disclosed fresh short bets on chipmakers.

Monday’s chip selloff snapped an unprecedented 18-day rally and arrived without a sector-specific fundamental catalyst, but with a high-profile bear newly on the tape and seven SOXX constituents reporting earnings this week.

Burry Bets Chips ‘Return To Earth’, SOXX Snaps Longest Rally Ever On 18-Day Streak

On Friday after the close, Burry disclosed via Substack that he had purchased January 2027 puts on SOXX, alongside puts on the Invesco QQQ Trust (NASDAQ:QQQ) and Nvidia Corp. (NASDAQ:NVDA).

“I purchased a decent number of SOXX January 2027 puts struck at $330. This is a new position for me,” he wrote.

The $330 strike implies a roughly 27% drawdown from Monday’s close by January 2027.

He paired the disclosure with a direct call to action for chip longs, telling readers that if they were holding semiconductor positions, the time to sell was now.

According to Burry, the SOXX advance was driven by technical factors rather than fundamental support, with the index trading over 40% ...