SOXL can be shorted as with any other ETF, as long as your broker has the shares available to lend in your margin account. Other options besides shorting any of the 1x semiconductor ETFs (SMH, XSD & SOXX) would be going long any of the inverse semi ETFs, such as SOXS (3x bearish/short) or SSG (2x bearish) or you could short the 2x bullish semi etf, USD. The potential issue with going long the leveraged short ETFs, especially the 3x’s like SOXS, is that even if the trade plays out but it takes a while (weeks or months) to hit the price target(s), especially if the semis grind around in a choppy sideways-to-lower trading range before getting there, is the decay that the leveraged ETFs will suffer.

I will say that my expectation is for a relatively swift move down to at least the first price target on SMH, with my best guess being that target will be hit within the next 2-3 weeks & quite possible sooner so if that is the case, then going long any of the leveraged short semi ETFs should be fine as they would suffer minimal price decay. There’s a detail explanation of how the leveraged ETF decay works on the FAQ page under the ETF related questions.

G-luck on the trade Shambo. Semis one of the better looking shorting opps out there right now & looks poised for a swift move lower, assuming the $NDX breaks down soon (which appears likely).