SK hynix closed at USD 165.67, rising 7.29%.

The session was electrified by a massive $1.45 million deep out-of-the-money put sale, underscoring a powerful wave of bullish conviction. This blockbuster trade dominated the flow, channeling a generally constructive outlook as traders capitalized on historically cheap option pricing to express confidence in the stock's resilience.

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Options Indicators

SKHY’s implied volatility stands at 80.83%, but its IV percentile is only 13.04%, which indicates that despite the high absolute IV reading, current option pricing sits on the low end of its own historical range and is therefore relatively cheap rather than expensive. With an IV/HV ratio of 0.73, implied volatility is also running below historical volatility, suggesting the options market is pricing in less movement than the underlying has recently realized. The Call/Put volume ratio is 1.04.

Large Trades

A PUT sale worth $1.45 million was the standout large trade of the session, with 1,544 contracts sold at the 75.0 strike expiring on December 17, 2027. With SKHY referenced at $165.67, this put was far out of the money, which makes the trade structurally bullish: the seller is collecting premium while expressing confidence that the underlying will remain well above the strike through expiration. Strategically, this kind of deep out-of-the-money put sale is typically associated with premium collection and a willingness to take on downside assignment risk only at a much lower level, reinforcing a constructive view on the stock rather than an outright bearish stance. Overall large-trade sentiment was clearly bullish, with total bullish flow of $1.52 million versus bearish flow of $0.13 million, leaving a net bullish difference of $1.40 million. The directional takeaway is decisively positive, as the flow was dominated by premium-selling structures and bullish put activity rather than aggressive downside positioning. Even though there was some neutral-to-bearish premium collection in the broader large-trade set, the scale of bullish exposure substantially outweighed it, suggesting market participants were generally comfortable leaning constructive on SKHY and using options primarily to harvest premium while expressing confidence in price stability or upside resilience.

Strategy Reference

For traders seeking to mirror the bullish premium-selling logic with a lower capital outlay, a bull put spread using the 160.00/150.00 strikes could capture a significant portion of the same low-IV benefit while capping margin requirements.