SK Hynix ADR Soars 27%, Plunges 9% on July 14-15 as Leverage Products Launch

SKHY-8.93%
SKHYV-0.98%
SMH-1.65%
According to CNBC, SK Hynix ADR soared 27% on July 14, then plunged 9% on July 15. The volatile swings were triggered by the simultaneous launch of five 2x leverage and inverse products tied to SK Hynix ADR, which drove programmatic buying from asset managers. On the same day, options trading volume hit a record 150,000 contracts, surpassing the daily volume of semiconductor ETF SMH. Major investors, however, dominated the seven largest options transactions with put purchases, betting on price declines while retail traders fueled the rally.
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