SK hynix closed at USD 154.41, up 9.01%.

Large options trades skewed heavily bullish, with a notable $0.35 million out-of-the-money call purchase targeting the 175.0 strike for 2026-08-21. The session’s total large-trade flow was decisively positive, registering $0.39 million in bullish premium against zero bearish flow, complemented by a bull put spread that reinforced the upside conviction.

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Options Indicators

SKHY’s implied volatility is 80.08%, while its IV percentile is just 9.09%, indicating that although the absolute IV level appears high, it sits near the low end of its own historical range. In other words, current option pricing is relatively cheap and volatility is on the low side versus what this product has typically experienced. The IV/HV ratio of 0.68 further suggests implied volatility is running below realized volatility, which supports the view that options are not richly priced at the moment.

The Call/Put volume ratio is 0.96.

Large Trades

A CALL buy worth $0.35 million was the standout displayed large trade, with 1,750 contracts purchased at the 175.0 strike expiring on 2026-08-21. With SKHY referenced at $154.41, this call was out of the money, indicating a clearly bullish stance that targets upside above the current price over a longer-dated horizon. The trade’s structure suggests a directional bet on continued appreciation rather than income generation, and the use of long calls also keeps downside risk limited to the premium paid while preserving leveraged upside exposure.

Overall sentiment was decisively bullish, with total bullish large-trade flow of $0.39 million versus bearish flow of $0.00 million, leaving a net difference of $0.39 million to the bullish side. The directional judgment is therefore clearly positive. That view is reinforced by the character of the activity: the displayed flow was an outright out-of-the-money call purchase expressing upside conviction, while the broader large-trade summary also showed additional bullish positioning through a bull put spread. Together, the large-trade tape points to traders leaning for further upside in SKHY rather than hedging against weakness.

Strategy Reference

With the IV percentile at a compressed single-digit level, long premium structures like the observed OTM call appear attractive. A capital-efficient alternative for bullish traders could be a bull call spread, such as buying the 160.0 call and selling a higher-strike call against it to reduce net debit while still participating in the expected upside move.