SK hynix closed at USD 162.23, down 4.02 percent.

Despite the sharp single-day decline, the largest options block on SK hynix leaned decidedly bullish. A three-leg put-selling combination at the 130.0 strike collected a net credit of $420 thousand, signaling confidence that the stock can hold well above that level into late 2026. The flow was dominated by out-of-the-money put sales rather than defensive put buying, suggesting institutional traders treated the pullback as an opportunity to harvest premium instead of hedging aggressively.

>>>Start OPTIONS trading & earn up to SGD 200 in rewards!

Options Indicators

SK hynix has an implied volatility of 57.74%, and with an IV percentile of just 7.81%, current volatility sits on the low side of its recent range, indicating that options are cheaply priced rather than expensive. The IV/HV ratio of 1.16 also suggests implied volatility is running modestly above historical volatility, meaning the options market is embedding somewhat higher forward-looking uncertainty, but not to an extreme degree.

The Call/Put volume ratio is 0.87.

Large Trades

A put spread-style premium collection trade with a net credit of $420 thousand was the largest displayed block, consisting of a three-leg put combination in the November 6, 2026 expiration, all at the 130.0 strike. Because the structure includes only sell puts, it is best viewed as a put-selling premium strategy rather than a synthetic position, and the size should be read from the provided net credit of $420 thousand. With SKHY referenced at 162.23, the 130.0 strike is out of the money, indicating the trader is expressing a moderately bullish-to-neutral view that the shares are likely to stay above that level into expiration, while seeking to collect premium rather than paying for downside protection.

Overall, the large-trade flow leans bullish. The dominant institutional activity was the sizable out-of-the-money put-selling combination, which signals willingness to take on downside assignment risk in exchange for premium income and typically reflects confidence in price stability or limited downside. That bullish premium-selling posture outweighed the smaller bearish purchase of the December 18 110.0 put, which looks more like a limited-cost downside hedge or a lower-conviction bearish tail-risk position than a primary directional statement. Taken together, the bulk-order figures suggest a constructive near-to-medium-term outlook with investors showing more comfort harvesting premium on downside strikes than aggressively positioning for a major drop.

Strategy Reference

For traders seeking a similar bullish premium-collection posture with a lower assignment probability, selling the November 6, 2026 130.0 put spread by also buying a lower-strike put can reduce margin requirements while still capturing net credit from the elevated implied volatility.