SK hynix closed at USD 174.83, down 0.46%.

A dominant $8.51 million net-credit double-sale call spread dominated SKHY’s options tape, signaling a capped-upside stance, while a $3.82 million out-of-the-money put sale added contrarian bullish premium collection. The combined flow suggests traders are leaning against a sharp rally and are comfortable monetizing volatility rather than chasing directional upside.

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Options Indicators

SKHY’s implied volatility is 62.59%, while its IV percentile is just 6.67%, indicating that despite the headline IV level, current option pricing sits near the low end of its own historical range. Combined with an IV/HV ratio of 0.87, options appear relatively cheaply priced versus the stock’s realized volatility, suggesting volatility is on the low side rather than elevated.

The Call/Put volume ratio is 1.60.

Large Trades

A premium-collection call spread worth $8.51 million in net credit was the largest displayed trade, consisting of the sale of 1,611 December 18, 2026 $150.0 calls and the sale of 3,222 December 18, 2026 $225.0 calls. This is a same-direction double-sale CALL combination, best read as a call spread-style premium-selling structure with a net credit, aimed at harvesting option premium while expressing a range-bound to moderately bearish view. With the $150.0 call in the money and the $225.0 call out of the money versus the $174.83 reference stock price, the structure suggests the trader was comfortable leaning against upside and monetizing elevated call premium rather than positioning for a strong rally.

A bullish put sale worth $3.82 million was the other key large trade, involving the sale of 2,000 December 18, 2026 $170.0 puts. That strike sits out of the money relative to the $174.83 reference price, so this single-leg trade reflects a willingness to collect premium while effectively expressing confidence that SKHY can remain above $170.0 into expiration. Even so, the broader large-trade picture still points to a bearish overall bias: although there was some constructive premium selling on the put side, the dominant flow was driven by upside call premium selling and other bearish-leaning activity, indicating the market is not positioned for an aggressive advance and instead appears to favor capped upside or a softer path ahead.

Strategy Reference

For a low-assignment-probability put sale aligned with the observed $170.0 flow, a seller could consider the December 2026 $160.0 put, which is further out of the money relative to the $174.83 reference and offers a wider buffer against a moderate pullback while still collecting premium.