SKHY wheel: cash-secured put & covered-call yields
SK hynix Inc. American Depositary Shares · $137.71 close on Nov 12, 2026
What the Nov 12, 2026 close says about SKHY
At 72.7% implied volatility, the options market is pricing a one-standard-deviation move of about $31.44 (22.8%) in SKHY by Dec 18, 2026, 36 days out.
Selling the $125 put (−0.29Δ) for $6.55 means assignment would leave a cost basis of $118.45, 14.0% below the $137.71 close.
The 64-day 0.30Δ put pays 1.4× the premium of the 36-day one for 1.8× the time — more premium per day on the 36-day contract ($0.182 vs $0.142).
At 0.30Δ on the Dec 18 expiry the put yields 5.24% on its strike and the call 3.14% on spot: puts pay 1.7× what calls do on SKHY this session.
Moving down to the $115 put (−0.18Δ) buys 7.3% more room below spot and keeps 56% of the 0.30Δ premium.
Open interest in the stored window totals 197,183 contracts; the largest single line is the $80 put expiring Jan 15 with 17,755 (9.0% of the window).
By options volume SKHY ranks #70 of 679 names in our universe.
Near-the-money options volume (2.1k) is 146% above its 5-session average.
The builder re-quotes every leg from the live chain when it opens; tracking is free to start.
Cash-secured puts on SKHY
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $125 | −0.29 | $6.55 Nov 12 | $655.00 | $12,500 | 5.24% | 53.1% | $118.45 | 4,103 | 1,090 |
| 0.20Δ | $115 | −0.18 | $3.65 Nov 12 | $365.00 | $11,500 | 3.17% | 32.2% | $111.35 | 6,331 | 48 |
Snapshot #9499 · session 2026-11-12 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 36
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $125 | −0.31 | $9.10 Nov 12 | $910.00 | $12,500 | 7.28% | 41.5% | $115.90 | 8,709 | 29 |
| 0.20Δ | $115 | −0.22 | $5.94 Nov 12 | $594.00 | $11,500 | 5.17% | 29.5% | $109.06 | 4,640 | 35 |
Snapshot #9499 · session 2026-11-12 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 64
Covered calls on SKHY
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $160 | 0.27 | $4.33 Nov 12 | $433.00 | 3.14% | 31.9% | 19.33% | 196.0% | 6,143 | 318 |
| 0.20Δ | $170 | 0.18 | $2.65 Nov 12 | $265.00 | 1.92% | 19.5% | 25.37% | 257.2% | 8,880 | 84 |
Snapshot #9499 · session 2026-11-12 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 36
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $165 | 0.30 | $6.30 Nov 12 | $630.00 | 4.57% | 26.1% | 24.39% | 139.1% | 2,117 | 31 |
| 0.20Δ | $180 | 0.20 | $3.56 Nov 12 | $356.00 | 2.59% | 14.7% | 33.29% | 189.9% | 4,024 | 23 |
Snapshot #9499 · session 2026-11-12 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 64
SKHY volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 72.7%session 2026-11-12
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Nov 9, 2026
- Open interest, stored window
- 197,183 contractssession 2026-11-12
- Largest open-interest line
- $80 put · Jan 15 · 17,755
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #70 of 679 optionable names by options volume
How these numbers are made
One end-of-day snapshot per session from a 15-minute-delayed feed. A premium is a contract’s last trade, used only if it printed that session, sits above intrinsic value and is in order with its neighbours; deltas are the feed’s own. Expiries are the first at least 30 and 60 days out, and nothing under 30 days is annualized. Not investment advice. Full methodology.
- We are building our own daily implied-volatility history (34 of 252 sessions so far); IV rank and percentile need a full year of it.
- Our data provider does not license announced earnings dates, and we do not publish estimates.
- Our data feed carries last trades, not live bid/ask quotes, so we cannot show a spread.