A Decline in Chip Stocks Becomes Market Sell-off… Where Tech Sector is Heading 6/9/26

20:31No, you wouldn't necessarily be a lemming. But what I was going to say was, she said that Vicks doesn't live here. And she's right. You know, we asked the question, how will you know? You will know, I think, we're close to a bottom. When the VIX gets to somewhere in the low 30s, which over the last couple of years, that's been sort of your signal.

20:47Tim Seymour:Coming up, Apple's sour streak. What is fueling the tech giant's losses over the past week and why the developers conference and Siri revamp failed to deliver? Plus, co-founder and CEO prediction market CalSheet will join us next to detail the company's launch into perpetual futures, the surge in interest and his response to the pushback. Do not go anywhere fast when he's back too.

21:11Never bet against American grit or American energy. Through innovation, Venture Global is not only building some of the largest energy facilities in the world right here in the United States, but delivering American energy at a fraction of the cost and a fraction of the time. So while others are busy talking, we're busy building. That's Venture Global. that's unstoppable energy

21:40OnDeck is built to back small businesses like yours whether you're buying equipment expanding your team or bridging cash flow gaps OnDeck's loans up to$400 ,000 help make it happen fast rated A plus by the Better Business Bureau and earning thousands of five-star trust pilot reviews OnDeck delivers funding you can count on apply in minutes at OnDeck.com depending on certain loan attributes your business loan may be issued by OnDeck or Celtic Bank. OnDeck does not lend in North Dakota. All loans and amounts subject to lender approval. Still waiting in line? Again? That's time you will never get back.

22:16Save time and money with Stamps.com. Over 4 million businesses have skipped the line with Stamps.com. Join them to save up to 90 % off carrier rates from your computer or phone right now. Print postage for certified mail, registered mail, and packages in seconds. then schedule a pickup right from your home or office. For a limited time, go to stamps.com and use code podcast for a free welcome gift. Taxes and fees apply.

22:40Tim Seymour:We've got breaking news out of the Middle East. Let's get back to Megan Casella with the details. Megan. Melissa, the United States is now formally retaliating against Iran for that downing of the Apache helicopter. We just learned on social media, U.S. Central Command saying that they began launching self-defense strikes against Iran at 5 p.m. Eastern today at the commander-in-chief's direction. in response to yesterday's downing of the U.S. Army Apache helicopter. The mission is a proportional response to unjustified Iranian aggression. Now, Melissa, as we were speaking about at the top of the hour, Iranian sources, according to Iranian state media, have already said that in the event of renewed hostility by the enemy, as they described it, that there would be a decisive response from Iran.

23:20So these self-defense strikes, as the U.S. is describing them, have just begun earlier this hour. Iran already vowing that they will retaliate to that. So now the question, of course, being how far will this spiral? How many sort of tit-for-tat strikes will we see from this? And what will that mean for sort of next steps in this war? And what will it mean for the ceasefire? Melissa?

23:39Tim Seymour:Right. Although we've seen the ceasefire really being tested on numerous occasions, and it still was deemed intact. Repeatedly tested. That's absolutely right. And we just don't know to what level of attacks might be described as breaking the ceasefire, ultimately. So far, nothing has been, including Iran firing missiles out of Israel over the weekend. We do know there's been some reporting, President Trump telling aides privately, according to the Wall Street Journal, that the killing of U.S. troops is what would get him to break the ceasefire and to end the ceasefire and get back into renewed military attacks.

24:14That is not what we saw here. There was this downing of the helicopter. Two pilots were rescued, though, and nobody was hurt or injured. That does raise the question of does that mean that that was not the president's red line and the ceasefire remains intact yet again? Or could this go further, especially with the question out there of what Iran's retaliation now might look like?

24:34Tim Seymour:All right, Megan, keep us posted. Thank you, Megan Cassell in Washington. Meantime, shares of Apple down nearly four percent, its third straight day of losses as investors leave WWDC26 feeling unimpressed despite an extensive AI rollout reveal. Some analysts on Wall Street excited about what came out of the conference, but some were not. UBS saying Siri AI is not a demand game changer. TD Cowan saying the announcements were shy of expectations. Barclays found Apple intelligence as not necessarily transformative. Julie Beal, this was not enough for you either? I mean, I think no one really should have been expecting anything super revolutionary for this company.

25:13I think they're continuing to take their time and slow roll this because they really believe that disruption is not necessarily the road to profits. I think that giving them time to really evaluate these models and make sure they're safe and that they fit in with the ethos makes a lot of sense. But I do think they're leaving some money on the table because I think that the ability for developers to work within the iOS ecosystem would be a great way for them to continue to grow that services business line. But I think for now, it just doesn't feel like it's a very comprehensive or impressive offering.

25:47You know, it comes back to the fundamentals and technicals. And we addressed it earlier in the show. But two days, whenever we talked about this, the reversal we saw on Apple, all time high, closed on the lows. This came out big volume day. We said on the desk, 285 was a logical place. That was a prior all time high-ish back in December. I think it got there today. A breach of that probably gets you to two. Dan probably has an up to 65 is a 200 day moving average, which you probably haven't visited since early April or so. But those are your levels, I think, right now on Apple.

26:18Tim Seymour:All right. We want to get back to Washington. Breaking news out of the House. Emily Wilkins got the details. Emily. Hey, Melissa. Well, the House just passed along party lines. That's 70 billion dollar package to fund ICE as well as Customs and Border Patrol. Obviously, this is something Congress has been debating for months now, but the bill has passed the House, will be going to the president's desk. This, of course, happened along a party line vote after Republicans decided they were going to go their own way on it, leaving Democrats out. Still a lot of drama in getting this done, but at least these two agencies now do have their additional funding, a key priority for Trump.

26:53And this might be one of the last bills that we actually see Congress be able to move this year. of still a few more things on their agenda. But of course, with the midterms around the corner, it's going to be very difficult to start getting anything else done like this.

27:07Tim Seymour:Melissa? Emily, thank you. Emily Wilkins. Coming up, prediction markets platform CalShit has surpassed $1 billion in perpetual futures trading less than a week after launching. CEO Tarek Mansoor will join us next. You're watching Fast Money Live from the Nasdaq market side in Times Square. Back right after this.

27:28At Venture Global, we think about what can be done, not what's usually done. Through innovation, Venture Global is not only building some of the largest energy facilities in the world right here in the United States, but delivering American energy at a fraction of the cost and a fraction of the time. So while others are busy talking, we're busy building. That's Venture Global. That's unstoppable energy. OnDeck is built to back small businesses like yours. Whether you're buying equipment, expanding your team, or bridging cash flow gaps, OnDeck's loans up to$400 ,000 help make it happen fast. Rated A-plus by the Better Business Bureau and earning thousands of five-star trust pilot reviews, OnDeck delivers funding you can count on.

28:17Apply in minutes at OnDeck.com. Depending on certain loan attributes, your business loan may be issued by OnDeck or Celtic Bank. OnDeck does not lend in North Dakota. All loans and amounts subject to lender approval. Still waiting in line? Again?

28:59Tim Seymour:Welcome back to Fast Money. Prediction markets platform, CalShe, surpassing$1 billion in trading volume since launching perpetual futures contracts last week. It is the first CFTC regulated exchange of its kind in just a short time ago. The journal reporting CalShe plans require users to disclose where they work to make certain trades. Joining us here at the NASDAQ for an exclusive interview, CalShe CEO and co-founder Tarek Mansour. Tarek, great to have you with us. There's a lot to talk about, but I want to first talk about perpetual futures. The$1 billion, That is notional plus leverage, just to be clear in terms of that number.

29:32Tim Seymour:So the demand is there. There have been a lot of criticisms. We had Terry Duffy on from the CME last week. Can you talk to why this product is suitable for the retail investor when it has been around the world? The U.K., for instance, has a ban on it. The EU has concerns over and limits leverage. Why should it be offered here in the U.S.? Yeah, well, so yes, we are honestly the results of an incredible billion in five days. You know, and you might know this, but our prediction market product took three and a half years to accumulate a billion dollars in notional volume. The demand is there. And actually offshore, in some of the, actually a lot of European jurisdictions and others, perpetual futures have been legalized and they've grown dramatically.

30:13And they're doing$90 trillion of volume now. So the demand is clearly there. And the question is why. The main thing, like the way that perpetual futures are different from futures is that they don't expire. So they're simpler for a retail participant and institutions. Sometimes you have a view on where something is going and by when. But a lot of times you just have a view on where something is going, not exactly by when. And futures, the issue with them is that they force you to basically have a view on when. So you have to close out the position and open it again if you want to hold it for longer, which makes you pay fees.

30:45whereas perpetuals avoid you those fees. So at the end of the day, they're simpler, they're cheaper, and they're more accessible for consumers. And, you know, I have a lot of respect for Terry. I think he's built an incredible company. But I think the incumbent don't love them because of that specific point, which is futures have to roll over where you pay fees, and perpetual put competitive pressure on those fees. But at the end of the day, they're improving consumer costs, and that's where we see the world heading.

31:06Tim Seymour:Some would say that the funding rate mechanism in and of itself can erode any sort of profits or it can really eat away at the position of the retail investor without them understanding that that has to exist in order to tie that contract to the spot price of whatever they're trading? That's not a new mechanism. I mean, there's two main criticisms, right? There's the leverage that people talk about, are these products have too much leverage, and then the funding rate mechanism and default, you know, the margin model. So two points, and I really think it's not about that. So leverage, we're offering around six and such, 6x leverage.

31:40That's what we're offering in these products, which is actually lower than a lot of retail futures product on CME. So, S &P futures are 15x. I mean, Dan, you might know this. I mean, I think FX is 60x, gold is 20x. So, all of which are actually higher leverage than these products. So, I don't think it's a question of leverage. And in terms of a risk model, I mean, this has always been Calci's approach. We're not trying to innovate on the risk methodology. That risk methodology that we're using, the auto-liquidation model, is actually a replica of the robust, well-tested model that CME and some of the incumbent exchanges have used at the CFC level.

32:11The innovation really comes on this expiry point. They just don't expire, which helps people essentially avoid paying these fees that we just discussed, avoiding these rollover fees. You know, Tarek, you guys, obviously sports has been a great way to start. How do you think about finance, markets, economic stuff? Because it's very small for you guys right now. And do you see like a big opportunity there? So the growth in like the finance markets for us is actually one of the largest. Actually, they're going faster in sports, faster in politics, some of the other markets. So the opportunity ahead of us is massive.

32:44The mission and the vision of CalShare has always been we want to build a next generation exchange, an exchange that captures a broader set of assets that is simpler and more accessible for the average consumer and that is dynamic. It's It's capturing the things that are happening around people's lives that they understand, they relate to. And so, yes, our act one was prediction markets. We've grown a lot during the 2024 election and politics was a huge sort of propeller for us. Sports was incredible. And now where Perpetual was launched, I think it's really spearheading us into our entry into more financial like products.

33:16And as you've seen, you know, a billion dollars in five days. You know, if I'm here in a month, I think those numbers and percentages will look very different.

33:22Tim Seymour:Right now, the perps are specifically for crypto. But are you envisioning that they will be offered on other assets? And I'm asking because I wonder I'm wondering if you think the regulatory environment is extremely in your favor, extremely in Polymarket's favor. I mean, a strategic advisor of yours is Donald Trump Jr. He's also a strategic advisor to Polymarket. And there have been reports that the CFTC, the staffing there is completely decimated and that things get through. And I'm just wondering how you perceive the environment right now for you to get new products approved. You know, I think, you know, like, yes, on more asset class with perpetuals.

33:54And I think that obviously perpetuals are happening now, but the call for making perpetuals, you know, a thing in America, legalized and regulated in America, has been around for a while. I mean, Schiller has basically been talking about this in the 90s, about the idea that a perpetual future for certain asset classes is better than a traditional future. And the way to kind of really sort of divide them is some asset classes, like agricultural products, they have a natural expiry. So you want a product, a derivative product, a future that has a natural expiry tied to that date. Others, like digital assets, don't have a natural expiry, right?

34:28Bitcoin lives on forever. And so you want a product that fits that sort of tenure, that doesn't have to unnecessarily expire and get people to pay fees unnecessarily. So I think the move and the work to bring perpetuals onshore has been ongoing for a very long time. And the cash playbook will always be the same. Take something that is working, that consumers want. Oftentimes it's proven either by our own consumers and their demand or offshore and bringing it in a safe, responsible, regulated way in America. And that's what we're doing with perpetuals. I'm sorry. You probably watched Terry on the show the other day.

34:59He made the point that perpetuals, by the law, the way the law is written, are not futures. Maybe at best they're swaps. But my question to you is not to debate that. Is there a world where they can live in tandem with one another here in the United States? I mean, they do. Right. I mean, as I said, Terry called me after the show and, you know, he mentioned I was a little upset. It's like, you know, why did you have to call out Calci that way? And he's like, well, I didn't mean it specifically with Calci. I know you're building a great company. I think he mentioned it in a call or conference the day after.

35:29But I have a lot of respect for Terry. I mean, I think we disagree on this point. I think what this is about, they are living in tandem. They have, for example, CME has Bitcoin futures and Calci has Bitcoin perpetuals and other companies will have perpetuals as well. And probably CME will have perpetuals as well. The main difference is if you want a position on where Bitcoin is going to be in November, before perpetuals, what you have to do is open the CME Bitcoin future, pay fees at opening, and then you pay rollover fees every month from now till November. You pay fees six times from today till November.

35:59With a perpetual, same exact leverage, same risk model, the well-regulated, robust, tested risk model that CME offers. The difference is you open the position today, and you can close it in November, and you pay significantly less fees. You don't have to pay fees six times from now till November. That brings competitive pressure on these rollover fees, right? And these fees are, you know, a part, a decent part of the revenue of some of these incumbent exchanges. And so it's normal for them to take that position. But I think they will coexist. They will be together. And the consumers are speaking loudly.

36:25You know, things that bring innovation to consumers in a regulated way and they reduce their costs are at the end of the better for the end consumers. And we're excited to do more on that front.

36:32Tim Seymour:I want to ask you about this effort to get ahead of the insider trading issue by asking people where they work. Because as I see in the journal article, you're not going to actually enforce it unless there is suspicious trading activity. So what do you think that does? Do you think that people actually are using the, like, a big source of insider trading is because they work at a place and they're using that information to place bets? Yeah, well, so insider trading is banned on Calci because it's banned under the law. So the Comodic Exchange Act bans insider trading. And putting the law aside, I mean, insider trading is bad because if people feel like the marketplace is unfair, well, they'll stop trading.

37:09That's why insider trading is banned in the first place. So I can't speak about the offshore markets and a lot of the headlines that we've been seeing, but CalShift has had a very stiff and robust approach to insider trading. And there's rules around how we should monitor it. But this falls in the bucket of CalShift going above and beyond what is required by the current regulations. So we're doing a lot of self-regulation based on the data and what we're seeing in the marketplace. And so one of the things that we've done, and I think a lot of you, most insider trading measures in traditional stock market, whereas NASDAQ, NISI, all the others, are retroactive.

37:37So something happens, a surveillance system flags it, and then you run an investigation, and then you find wrongdoing and you punish. We do all of that. Now, we're going beyond that where we essentially proactively ban people from participating in certain markets. So, for example, if you're a member of Congress, we ban you from participating on anything that may relate to Congress. If you're an athlete, we actually ban you from participating in your own league. Now, this measure falls in that bucket. So we have a risk scoring around certain markets that may have a heightened sense of manipulation.

38:07For example, company KPIs, what a company, you know, what Tesla is going to report in terms of number of cars. And we use this sort of employment checks to check if somebody that works at the company is attempting to commit insider trading before they place a trade so we can ban them before they do it. And I'm very excited about these types of measures. They're working, and they're also an education tool because you tell people stop before they try to do something wrong. And we're going to do more on that front.

38:29Tim Seymour:Are there any bets right now open about when CalShield will go public? Not on us, not on regulated venues yet. We would need regulatory approval for that. And what do you say to it? Well, once you have the market, we'll listen to market. That's the whole point of the market is not to listen to me. Tarek, thanks for coming by. Thanks a lot for having me. Tarek Mencer. And a quick note, CNBC and Calci have a commercial relationship that includes customer acquisition and a minority investment. Coming up, the technical take on today's Chip Crunch, where the Chartmaster sees the group heading next.

38:59Tim Seymour:And if there's more pain ahead, Fast Money is back in two.

39:05Tim Seymour:Welcome back to Fast Money, a volatile session for markets today. Stocks starting the day higher before tumbling midday, but all three indices cutting their losses into the close. The S &P ending the day down just a quarter of a percent, the Nasdaq down about a percent and falling as much as three and a half percent at its lows, and the Dow managed to turn positive. Shares of United Rentals continuing to climb. The stock hitting a fresh record high today. Shares up more than 35 percent so far this year and shares of Supermicro dropping after hours. The company announcing a proposed$7 billion offering of equity and equity linked financing, the proceeds of which will help fulfill nearly$40 billion of AI server orders the company says it received in recent weeks.

39:44Tim Seymour:Stock is down 8 percent. Karen, I don't know where you mean you point out Supermicro, but you are in rentals, which was the R in CARB. Of course it was. It was the R in CARB. That was a great one last year. Still is a great story, but it hasn't it hasn't really changed much. Just the valuation has changed, and I'm actually looking to sell some upside calls. I love the management. I love the business, but the valuation can fluctuate. Meantime, chip stocks selling off midday before recovering some losses. Micron, AMD, Marvell, Broadcom, Intel, Qualcomm, and Arm all still end of the day in the red.

40:16Tim Seymour:Several of these stocks seen double-digit losses in just a week. For more on semiconductor technicals, let's bring in the chart master, Carter Braxton Wirth. Carter, where do you see the group now? Well, obviously, this is the center of the storm, both on the way up. You wouldn't call that a storm out on the way down. It's where all the money is. It's where all the hopes and dreams are. And it's been great. But the crack, I think, is real. Let's look at some charts and try to divine the way forward together. Here is the Sox index with no lines, no judgments. Let's put some lines in. What do we know?

40:47If you look at the next iteration, it's this very steep move. All equities moved off the March 30 low. S &P up 20 in that period, 20 percent. Q's up 34. Tech sector up 47. Sox almost double up 97. Just a real runaway hysterical sort of move. And then, of course, the crack, the crack of the past several days, starting with Friday's 10 % down day. Next iteration. So the question is, are we still okay? Are we likely to give back more? My hunch is give back more. It would hardly damage the chart. Now, do we get all the way down to that trend line. That trend line connects two points. Now, remember, any two points can be connected.

41:27That's hardly a trend line. That's, of course, the lows of tariffs in March and then the lows of the Iran-U.S. dust-up. And so last chart, that trend line is also just about where the smoothing maximum, the 150-day moving average comes into play. My hunch is you just have to make a decision. Do you increase exposure to semis here by the dip? Do you reduce exposure? I'm in the bladder can reduce exposure. I would use any day-to-day bounces, such as the one yesterday, to take measures.

41:57Tim Seymour:Carter, thank you. Carter Braxton Worth of Worth Charting. Which camp would you be in, Guy? Carter will say correctly that all gaps inevitably are filled, and there's a huge one in the SMH from April when we gapped higher. I think it comes in around that 430 level, and I'm with him. Again, it's not about the fundamentals changing. I don't think they really have all that much. The technicals have changed in a meaningful way, and I think there's an inevitability to fill that gap to the downside in the SMH. Coming up, ports in the storm where investors found some safety in today's market swings when Fast Money returns.

42:35Tim Seymour:Welcome back to Fast Money. A few bright spots in today's market. The consumer staple sector jumping more than a percent as investors rotate out of tech and into defensive names. James Smucker surging 10 percent after topping earnings estimates this morning. It's best day since 2008. Homebuilders boosted by some positive home sales data this morning. The ITV up more than 4 percent. And health care also continuing its climb. The XLV up nearly 8 percent over the past month. Coming up, how option traders are hedging against the volatility and the action we saw in today's Whipsaw on Wall Street. The details next.

43:06Tim Seymour:And here's a sneak peek at the Kramer cam. Jim is chatting exclusively with the president and vice chairman of Meta. Catch the full interview, top of the hour on Mad Money. More Fast Money in two.

43:20Tim Seymour:Welcome back to Fast Money. Volatility ripping back into stocks today in the form of a massive reversal in software and setting up for a make or break moment in the red hot trade and perhaps the broader market. And we get CPI data before the bell and Oracle earnings after the bell tomorrow. Our Oliver Rennick is on the CBO trading floor with more on how options traders are playing the volatility in this space. Oliver. Hey, Melissa, options traders are leaning optimistic into those two big events. First, CPI. It's expected to hit above 4 % for the first time in three years, but options trading around interest rate sensitive stocks today suggest it might be priced in.

43:56Call buying outpaced puts in the regional bank ETF KRE, homebuilders XHB, and the long-term bond ETF TLT, even as odds of a hike in December moved up to 43%. And that other big event we're watching, of course, is Oracle earnings after the bell. The stock is the biggest weighting in the popular software ETF IGV and could be the deciding factor for the next move of the big tech trade. Options traders think we'll get a 12 % swing in Oracle after earnings, the biggest implied move going into a report since March 2020. It's high pressure for a stock that's leading the IGV by 15 percentage points this year.

44:36Calls outpaced puts more than two to one in Oracle today. And the most popular contract by volume was the 250 strike call expiring Friday. A bet the stock will rally more than 20 percent into the weekend. Melissa.

44:50Tim Seymour:Oliver, thank you. Oliver Rennick at SIBO. Interesting, the bullish trades and the sort of the interest rate sensitive stocks. Those are, though, also the areas in the market today where we just saw rotation into because the tech trade came off. Home Depot, one of the best things that's had in a while. Target very quietly up 50 percent from the lows. Tim and Karen have been talking about that. Retail's done well. Homebuilders, surprisingly so. Maybe it's optimism around the numbers. Maybe people think rates are going lower. Obviously, the unemployment rate helped, but I'd still be a seller of homebuilders here.

45:18Can I ask Dan a question? Sure. Dan, Oracle straddle at 12-ish percent. Seller? I mean, I think it's hard to pick a direction here because if you look at that move off the bottom, I mean, any disappointment there, the stock's sitting down 10 percent. You know what I mean? But 12 percent seems a little much.

45:36Tim Seymour:Yeah. Julie, you're nodding in agreement. Yeah, I agree. I think it's go time for Oracle. And, you know, these quarters have been pretty tough for them. I think any kind of disappointment when you've had this much move this quickly, you really, really have to deliver. Yeah. I mean, is it your sense, Dan, that Oracle has Oracle specific issues or will it be sort of the bellwether kind of impact on the IGB? Because we've already been through a period where we've had a number of companies, ServiceNow, Workday come out, and their earnings were good, and it helped lift the IGB overall. Well, I think there's a battle going on in the IGB.

46:09If you think about Oracle and think about Palantir, I mean, these are huge components of it. And, you know, Oracle has had this huge rally off the bottom, and Palantir can't get out of its own way. But Palantir was one of the reasons why it was acting so well, let's say, a year ago. I think Oracle is far from a software stock right now. They've gone to very, very asset heavy, and they've had to raise a lot of debt to do that. They said they're not doing any more. Good luck with that. I mean, look at this deal that Apollo and Blackstone just did, private credit deal,$35 billion to buy GPUs. I mean, at some point, Oracle is going to have to get a bit more creative, especially if they want to stick to the guidance that they gave about capital raising.

46:46So to me, this is like probably one of the worst stories in the entire AI infrastructure trade.

46:51Tim Seymour:Quite a call. Up next, Final Trades.

46:59Final trade time, Julie Beal. Yeah, West is one of those higher quality, durable names that I think is a good port in the storm. Karen. Yes, URI. I love so much about it, except valuation and I've got to sell some upside calls. Dan. Yeah, SMH, I think it's on the precipice of a big drop that probably takes out the lows from earlier today and yesterday. Guy. The fans want to know, Melissa did watch parts of the NBA basketball game last night. You did not watch it in its entirety, but you'll be watching tomorrow night. Is that true? Perhaps. We'll see. I'm McDonald's while you're watching, Milms.

47:31Tim Seymour:All right. Thanks for watching Fast Mad Money. Jim Cramer starts right now. All opinions expressed by the Fast Money participants are solely their opinions and do not reflect the opinions of CNBC or its parent company or affiliates and may have been previously disseminated by them on television, radio, internet, or another medium. You should not treat any opinion expressed on this podcast as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of an opinion. Such opinions are based upon information the Fast Money participants consider reliable, but neither CNBC nor its affiliates and or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such.

48:04To view the full Fast Money Disclaimer, please visit cnbc.com forward slash Fast Money Disclaimer. At Strayer University, we help students like you go from, is it possible? To anything is possible by offering access to up to 10 no-cost Gen Ed courses so you can reach your goals affordably and fast. Visit Strayer.edu to learn more. No-cost Gen Ed is provided by Strayer University affiliate Sophia. Eligibility rules apply. Connect with us for details. Strayer University is certified to operate in Virginia by Shev and as many campuses including at 2121 15th Street North in Arlington, Virginia.