Options Action Wall Street's 'fear gauge' punches back as the 'crash up' in chip stocks finally reverses

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It's been one of the wildest stock markets on record lately but you wouldn't have known it looking at the Cboe Volatility Index . Friday's sell-off just made things a lot clearer. The non-stop, two-month 80% rally in semiconductor stocks that added roughly half a trillion dollars in market cap to the Nasdaq 100 , spurred one of the most successful ETF launches in history, and birthed dozens of eye-popping, parabolic single stock moves, finally hit a wall on Friday as the VanEck Semiconductor