Chey Tae-won, chairman of SK Group, in the course of the firm’s preliminary public providing (IPO) on the Nasdaq MarketSite in New York, US, on Friday, July 10, 2026.
Michael Nagle | Bloomberg | Getty Pictures
SK Hynix choices debuted Tuesday to much less fanfare than one might need anticipated given the year-long rally within the inventory and a 20%-plus surge on Tuesday alone.
About 150,000 choices traded in SK by noon Tuesday and whereas extra calls traded than places, the preferred directional commerce by quantity was promoting calls, in response to Cboe LiveVol information. Cboe provided 5 expiries: 5 month-to-month choices that expire the third Friday of July, August, September, December and March 2027.
Whereas quantity was larger than the 110,000 contracts traded on the VanEck Semiconductor fund (SMH), and virtually double the amount in Sandisk or Marvell, it is lower than a 3rd of the amount within the Roundhill reminiscence ETF (DRAM), or Micron, which traded about 380,000 contracts Tuesday. Nvidia traded about 2.3 million as of writing.
SK Hynix U.S. shares
One rationalization for the shortage of notable call-buying is that the surge in single-stock ETFs and leveraged funds with publicity to the South Korean chip sensation stole a giant chunk of the speculative limelight within the run-up to SK Hynix’s U.S. itemizing and subsequent choices.
Virtually a dozen ETF issuers filed for leveraged single-stock funds tied to SK, a lot of which started buying and selling on Tuesday. There’s additionally the large success of the DRAM ETF, now with $23 billion in property, of which SK Hynix is the third-biggest holding.
“These ETFs – double lengthy, double brief – that is a variety of demand that perhaps acquired taken away however I am positive we’ll see a pickup in quantity after they listing the weeklies,” stated Scott Bauer, CEO of Chicago-based Prosper Buying and selling Academy.
The 2 largest trades within the session appeared like a single dealer who offered greater than 2,200 of the 180-strike calls expiring July 17, practically at-the-money contracts that introduced in $9 a chunk for a roughly $2 million sale.
The highest seven single trades by quantity had been all bearish, in response to LiveVol.
