Friday's chip selloff did not stay with the chipmakers. By late morning on November 13, 2026, some of the steepest losses in the S&P 500 were in the companies that sit around the GPU: optical components, flash memory and servers.

As of 10:45 a.m. ET, WiseView listed Coherent (COHR) as the S&P 500's biggest decliner at -9.54%, followed by AMD, Sandisk (SNDK) at -8.75%, Bloom Energy and Dell Technologies (DELL) at -8.37%. The same report had the S&P 500 down 0.95%, the Nasdaq down 1.67%, the VIX up 9.04% to 20.39 and the 10-year Treasury yield at 5.130%. Seventeen of 19 S&P 500 chip stocks were down 4% or more.

Later Yahoo Finance quotes, pulled at about 11:15 a.m. ET, showed all three stocks lower still:

| Ticker | Thu close | ~11:15 a.m. ET | Change | Session low so far | 52-week high | COHR$232.08~$208.20~-10.3%~$207.69$440.00 SNDK$937.46~$850.00~-9.3%~$848.50$2,354.39 | DELL | $371.17 | ~$331.52 | ~-10.7% | ~$331.35 | $595.51 |

Like AMD and Broadcom, which we covered earlier today, each stock was trading near its low of the session.

Three Businesses, One Customer Worry

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The common thread in the explanations offered by Investing.com is exposure to AI data-center spending tied to Nvidia, whose CEO Jensen Huang resigned on Thursday with CFO Colette Kress named interim CEO. Each stock also had its own reason to be fragile:

  • Coherent had jumped more than 11% on November 11 after fiscal first-quarter revenue of $2.37 billion (up 50% year over year) and non-GAAP EPS of $2.09, according to Investing.com, which said that run left the stock "technically extended." The same report cited a long-term AI data-center supply agreement worth about $20 billion over five years.
  • Sandisk was hit by a Kioxia warning about a potential surge in NAND flash prices, which Investing.com said raised questions about competitive pricing and the durability of Sandisk's gross margins. It also pointed to profit-taking after a sharp November 11 rally. The stock is still far below its 52-week high.
  • Dell was giving back much of Thursday's 11.2% gain. Investing.com also cited a UBS downgrade to Neutral, worries about PC demand and memory costs, and Form 144 and Form 4 filings made Friday that may signal insider selling.

    • WiseView showed the damage reaching contract manufacturers and components as well: by 10:15 a.m. ET, Flex was down 5.94%, Corning 5.55% and Jabil 4.27%.

    Friday-Expiry Puts Did the Heavy Lifting

    The busiest contracts in Sandisk and Dell were puts expiring the same afternoon, per Yahoo's chains around 11:15 a.m. ET:

    | Contract | Volume | Open interest | Last | DELL Nov 13 $330 put~7,640~1,780~$0.84 DELL Nov 13 $350 put~4,050~3,410~$8.45 SNDK Nov 13 $850 put~6,130~1,580~$8.60 SNDK Nov 13 $900 call~5,480~1,780~$1.30 SNDK Nov 13 $800 put~4,620~1,500~$0.55 COHR Nov 13 $207.50 put~440~440~$1.60

    Volume several times larger than open interest, as in the Dell $330 and Sandisk $850 puts, means much of that trading opened new positions today. Volume alone doesn't show whether traders were buying protection or selling it, and these contracts expire in a few hours. A $0.84 put that is barely in the money can double or go to zero on a few dollars of movement in the stock.

    Pricing Next Week, and Dell's Earnings Week

    Next Friday's expiration includes Nvidia's quarterly report on Tuesday, November 17. Dell's own fiscal third-quarter report is scheduled for November 24, according to Investing.com, which falls after November 20 but before the November 27 expiration. Approximate straddle midpoints from Yahoo:

    StraddleMidpointAs % of stock price COHR Nov 20 $210~$24.85~11.9% SNDK Nov 20 $850~$102.85~12.1% DELL Nov 20 $330~$36.90~11.1% DELL Nov 27 $330 (includes Nov 24 earnings)~$57.60~17.4% COHR Nov 27 $210~$30.50~14.7% | SNDK Nov 27 $850 | ~$129.20 | ~15.2% |

    The gap between Dell's November 20 and November 27 straddles, roughly six percentage points, is a rough gauge of how much extra movement the market is assigning to the earnings week. Expiries a week apart always differ, but the step-up is larger for Dell than for Coherent or Sandisk, which have no scheduled report in that window.

    Some traders were still reaching for upside a week out. Coherent's Nov 20 $280 calls, about 35% above the stock, traded about 2,160 contracts against open interest of about 3,290 at roughly $0.35. Sandisk's Nov 20 $1,000 calls traded about 2,160 and its $800 puts about 1,480.

    A Checklist for Supply-Chain Sympathy Moves

    These are educational observations, not recommendations:

  • Second-order names can move more than the headline stock. On Friday, Coherent, Sandisk and Dell were all down more than Nvidia's roughly 3.8% at 10:45 a.m. ET, per WiseView.
  • Pay attention to which expiry contains which event. For Dell, a November 20 position covers Nvidia's report but not Dell's. A November 27 position covers both.
  • Rich premium cuts both ways. Straddles priced around 11% to 12% for a single week are expensive to buy and risky to sell. A seller is exposed to another gap like Friday's, and a buyer needs a move larger than the premium to profit.
  • A higher VIX lifts the whole board. With the VIX above 20, index hedges cost more too, which affects anyone hedging single-stock exposure with SPY or QQQ options.
  • Assignment and settlement. These are American-style equity options that settle into shares. Short in-the-money options expiring today can be assigned, and positions near the strike carry pin risk into the close.

    • Our implied volatility guide explains event premium in more detail, and the OCC options disclosure document covers the risks of standardized options.

    Sources

  • WiseView: Stock market today, Nov 13, 2026 (as of 10:45 a.m. ET)
  • WiseView: Hardware, equipment & parts stocks fall sharply today
  • Investing.com: Why is Coherent stock tumbling today?
  • Investing.com: Why is SanDisk stock tumbling today?
  • Investing.com: Why is Dell Technologies stock sliding today?
  • CNBC: Stocks moving the most today, Nov 13, 2026
  • Yahoo Finance: COHR options
  • Yahoo Finance: SNDK options
  • Yahoo Finance: DELL options

    • *By the OptionsPilot Editorial Team. Published November 13, 2026, 8:17 AM PT. This article is for education only and is not investment advice. Options involve risk and are not suitable for all investors.*