Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
SKHY options intelligence
SK Hynix Inc. American Depositary Shares options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
44
Market data through 11 Aug 2026
Checked 11 Aug 2026 20:12 · complete available chain
Options-market disagreement
Mixed pressure
SKHY currently carries mixed options pressure with a 44/100 conviction score. The nearest-chain expected move is 6.2%, with volume/open-interest participation at 0.12.
Expected move
6.2%
Wider near-term move priced
Activity / OI
0.12
Current volume is quieter versus prior open interest
Put-call
1.13
Balanced tape
Trend fit
92
Options agree with trend context
Weekly backdrop
-4.0%
Sharemaestro weekly context
Expected move
6.2%
Put-call volume
1.13
Volume / OI
0.12
Reference IV
0.72
Max pain
140.00
Underlying
137.91
Nearest expiry
14 Aug 2026
Contracts
1908
Research Brief
SKHY has a mixed chain read with 44/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 129.41–146.41; The largest call open-interest concentration is 190.00; the largest put concentration is 110.00. The most active strike by current volume is 140.00.
Priced range129.41–146.41
Call concentration190.00
Put concentration110.00
Max pain reference140.00
- A clear directional pressure reading develops and price begins to agree.
- The current chain read already agrees with the stored weekly trend context.
- Volatility falls and the chain remains directionally mixed.
Priced Move
Where the chain says movement becomes exceptional
Options imply 129.41 to 146.41. Max pain at 140.00 sits inside that range, 1.5% above spot.
Spot
Max pain
129.41137.91 ± 8.50146.41
Confirmation level
A close beyond 146.41 or below 129.41 at the 14 Aug expiry would exceed the move currently priced by this chain.
Important limitation
The range is a pricing reference, not a forecast; volatility can reprice sharply after news or as expiry approaches.
Score Construction
Why conviction is 44/100
Pressure is 8/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure8 × 42%
+3.4
How strongly activity leans toward calls or puts.
Participation43 × 22%
+9.4
Volume relative to existing open interest and contract-level activity.
Trend agreement92 × 26%
+23.9
How closely the chain read agrees with the underlying trend backdrop.
Volatility75 × 10%
+7.5
The intensity of implied volatility and the priced move.
Positioning by Strike
Where open interest and current activity concentrate
The largest call open-interest concentration is 190.00; the largest put concentration is 110.00. The most active strike by current volume is 140.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
1832
100.00-27.5%
29
17731
110.00-20.2%
45
2393
115.00-16.6%
11
3920
120.00-13.0%
254
6918
123.00-10.8%
0
6058
124.00-10.1%
0
7777
125.00-9.4%
106
9605
127.00-7.9%
12
5881
130.00-5.7%
1503
2304
135.00-2.1%
383
2667
140.001.5%
3054
1217
141.002.2%
619
689
145.005.1%
1272
735
150.008.8%
2838
173
155.0012.4%
2095
138
160.0016.0%
1937
0
190.0037.8%
7757
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Gamma Profile by Strike
Balanced gamma proxy
Call- and put-side gamma sensitivity is broadly balanced across the retained chain. Individual strike concentrations may still matter more than the chain-wide net.
Net profile-$13.3MDelta change / 1% move
Positive peak200.00+$5.3M
Negative peak130.00-$6.7M
Nearest balance137.75Interpolated sign change
StrikeNegativePositiveNet / 1% move
128.00-7.2%
-$981,525
129.00-6.5%
-$136,190
130.00-5.7%
-$6.7M
131.00-5.0%
-$111,417
132.00-4.3%
-$711,420
133.00-3.6%
-$254,461
134.00-2.8%
-$139,875
135.00-2.1%
-$4.0M
136.00-1.4%
-$43,428
137.00-0.7%
+$427,751
138.000.1%
-$146,053
139.000.8%
-$3,188
140.001.5%
+$627,311
141.002.2%
-$429,957
142.003.0%
+$186,245
143.003.7%
+$76,564
144.004.4%
+$10,007
145.005.1%
-$3.5M
146.005.9%
-$126,787
147.006.6%
+$168,085
148.007.3%
+$62,478
Positive call-side proxy Negative put-side proxyHighlighted row is nearest spot strike
Scenario proxy = gamma × open interest × 100 shares × spot² × 1%. Calls are positive and puts negative by convention. Missing Greeks use a Black-Scholes estimate from stored IV with zero rate and dividend assumptions. Open interest does not reveal who is long or short, so this is not observed dealer positioning or a forecast.
Volatility Curve
Balanced volatility curve
Near- and longer-dated implied volatility are broadly aligned; no exceptional front-expiry premium is visible.
0.72
14 Aug
3d
0.72
21 Aug
10d
0.73
28 Aug
17d
0.74
4 Sep
24d
0.73
11 Sep
31d
0.73
18 Sep
38d
0.76
25 Sep
45d
0.76
16 Oct
66d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
111
113
115
118
120
122
125
127
129
131
133
136
138
140
143
145
147
149
153
160
165
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
5 stored transitions are available, but none had a directional bullish or bearish label.
Directional follow-through-
Moves contained by pricing100%
Average expiry move4.0%
6 Aug
Volatility · 49
-4.0% through expiry
5.0% priced · v2.0
5 Aug
Volatility · 48
-4.0% through expiry
9.4% priced · v2.0
4 Aug
Volatility · 46
-4.0% through expiry
12.7% priced · v2.0
3 Aug
Volatility · 48
-4.0% through expiry
12.2% priced · v2.0
31 Jul
Volatility · 47
-4.0% through expiry
13.7% priced · v2.0
Eligible snapshots must have a dated market session, stored signal, and point-in-time market reference. Each observation uses one read per market session and the first stored weekly close on or immediately after expiry; its original calculation version is retained. It is an evidence audit, not an executable strategy or evidence of future performance.
Evidence Quality
High
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 11 Aug 2026
- Calculation
- v2.0
- Contracts
- 1908 / 1908
- No material coverage gap was detected in the retained chain.
Aggregate chain data supports concentration, participation and pricing analysis. It does not identify trade aggressor, opening versus closing activity, multi-leg intent or dealer inventory.
Options Intent Radar
Directional flow, confirmation needed
There is useful activity, but aggregate chain data does not isolate participant intent.
The options read is mixed, so divergence is not strong enough to classify.
Directional flow, confirmation needed matters because it connects the options headline to the actual evidence: $117.0M of estimated gross traded notional, puts · 91+ days · itm, and a no clean flow/price divergence backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure-8
1W price-4.0%
Call premium43%
Put premium57%
Notional split
C 43% / P 57%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.12
Volume divided by open interest across the visible chain.
Trend fit
92/100
Agreement between options pressure and Sharemaestro market context.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Puts · 91+ days · ITM
puts cluster with 5003 contracts traded, $31.1M estimated gross traded notional, and 27% of visible notional.
$31.1M
Calls · 91+ days · OTM
calls cluster with 14670 contracts traded, $23.6M estimated gross traded notional, and 20% of visible notional.
$23.6M
Puts · 91+ days · OTM
puts cluster with 12930 contracts traded, $15.1M estimated gross traded notional, and 13% of visible notional.
$15.1M
Puts · 91+ days · ATM
puts cluster with 1998 contracts traded, $8.1M estimated gross traded notional, and 7% of visible notional.
$8.1M
Calls · 91+ days · ITM
calls cluster with 896 contracts traded, $5.6M estimated gross traded notional, and 5% of visible notional.
$5.6M
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
The tape is pricing or displaying unusually elevated activity.
Expected move or upcoming earnings makes the setup more event-sensitive.
Underlying price is close to the max-pain zone.
Activity Anomaly
Warming up
7 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 7 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close137.91
1W-4.0%
RS-
Fair value-9.1%
Options pressure-8
Speculation43
Volatility75
Trend fit92
Today Versus Normal
Stored-options context
30d avg - · 7/10 sessions
-
90d avg - · 7/30 sessions
-
180d avg - · 7/60 sessions
-
30d avg - · 7/10 sessions
-
90d avg - · 7/30 sessions
-
180d avg - · 7/60 sessions
-
30d avg - · 7/10 sessions
-
90d avg - · 7/30 sessions
-
180d avg - · 7/60 sessions
-
30d avg - · 7/10 sessions
-
90d avg - · 7/30 sessions
-
180d avg - · 7/60 sessions
-
Pressure Trail
Recent pressure and volatility
4 Aug 13:40
Mixed
Pressure 13
Move 11.9%
4 Aug 15:10
Volatility
Pressure 3
Move 11.5%
4 Aug 16:40
Volatility
Pressure -3
Move 12.8%
4 Aug 18:10
Volatility
Pressure 5
Move 13.7%
4 Aug 19:30
Volatility
Pressure 4
Move 12.7%
5 Aug 14:00
Volatility
Pressure 6
Move 11.4%
5 Aug 15:20
Volatility
Pressure -12
Move 10.1%
5 Aug 16:40
Volatility
Pressure -7
Move 10.6%
Strike Map
Where activity is clustering
Strike25.00
Calls · V 2 · OI 1
Puts · V 139 · OI 338
Strike30.00
Calls · V 10 · OI 10
Puts · V 0 · OI 0
Strike35.00
Calls · V 0 · OI 0
Puts · V 2 · OI 37
Strike40.00
Calls · V 0 · OI 0
Puts · V 1 · OI 227
Strike45.00
Calls · V 0 · OI 0
Puts · V 1 · OI 1
Strike50.00
Calls · V 0 · OI 0
Puts · V 2 · OI 21
Strike55.00
Calls · V 0 · OI 0
Puts · V 3 · OI 41
Strike60.00
Calls · V 0 · OI 0
Puts · V 2 · OI 213
Term Structure
Expiration activity
Expiry14 Aug 2026
Contracts188
Avg IV0.72
Put-call0.55
Expiry21 Aug 2026
Contracts147
Avg IV0.72
Put-call1.62
Expiry28 Aug 2026
Contracts155
Avg IV0.73
Put-call1.01
Expiry4 Sep 2026
Contracts129
Avg IV0.74
Put-call4.10
Expiry11 Sep 2026
Contracts98
Avg IV0.73
Put-call6.38
Skew
Call/put IV balance
14 Aug 2026Balanced skew
Call IV0.73
Put IV0.75
Skew0.02
21 Aug 2026Balanced skew
Call IV0.72
Put IV0.73
Skew0.01
28 Aug 2026Balanced skew
Call IV0.74
Put IV0.73
Skew-0.01
4 Sep 2026Balanced skew
Call IV0.74
Put IV0.73
Skew-0.01
11 Sep 2026Balanced skew
Call IV0.74
Put IV0.72
Skew-0.02
Contract Tape
Most active contracts
ContractSKHY261016P00185000
SidePut
Expiry16 Oct 2026
Strike185.00
Volume-
OI243
IV0.75
ContractSKHY261016P00195000
SidePut
Expiry16 Oct 2026
Strike195.00
Volume-
OI149
IV0.82
ContractSKHY270115P00220000
SidePut
Expiry15 Jan 2027
Strike220.00
Volume-
OI107
IV0.73
ContractSKHY261016P00180000
SidePut
Expiry16 Oct 2026
Strike180.00
Volume-
OI104
IV0.75
ContractSKHY270617P00265000
SidePut
Expiry17 Jun 2027
Strike265.00
Volume-
OI45
IV0.71
ContractSKHY261016C00290000
SideCall
Expiry16 Oct 2026
Strike290.00
Volume-
OI40
IV0.90
ContractSKHY270617P00245000
SidePut
Expiry17 Jun 2027
Strike245.00
Volume-
OI40
IV0.71
ContractSKHY270319P00012500
SidePut
Expiry19 Mar 2027
Strike12.50
Volume-
OI40
IV1.46
Research Graph
Related research and context
Sharemaestro research
Related News
No recent ticker-specific news yet.
Market Watch
No recent market-watch posts yet.
Earnings
No upcoming matched earnings event.
Plain English Guide
Options context
What usually looks constructive
What usually looks cautious
Options can move quickly and can lose value fast. Treat this as research context, not a buy or sell instruction.