Michael Burry sells 25% of his semiconductor ETF puts but stays bearish on chips

Michael Burry sold 25% of his semiconductor ETF put position while retaining the remaining 75%, keeping a net bearish stance on chip stocks. The partial exit reduces downside exposure but signals continued caution rather than a bullish turn. The move matters because Burry's positioning is widely watched as a sentiment gauge for semiconductor and broader tech valuations. What to watch next is whether the remaining puts are trimmed further or held through upcoming chip-sector earnings and demand data.