SKHY wheel: cash-secured put & covered-call yields
SK hynix Inc. American Depositary Shares · $181.92 close on Sep 28, 2026
What the Sep 28, 2026 close says about SKHY
At 59.6% implied volatility, the options market is pricing a one-standard-deviation move of about $32.13 (17.7%) in SKHY by Oct 30, 2026, 32 days out.
Selling the $170 put (−0.31Δ) for $6.95 means assignment would leave a cost basis of $163.05, 10.4% below the $181.92 close.
The 81-day 0.30Δ put pays 1.6× the premium of the 32-day one for 2.5× the time — more premium per day on the 32-day contract ($0.217 vs $0.137).
At 0.30Δ on the Oct 30 expiry the put yields 4.09% on its strike and the call 3.27% on spot: puts pay 1.3× what calls do on SKHY this session.
Moving down to the $160 put (−0.20Δ) buys 5.5% more room below spot and keeps 55% of the 0.30Δ premium.
Open interest in the stored window totals 125,666 contracts; the largest single line is the $210 call expiring Dec 18 with 36,931 (29.4% of the window).
By options volume SKHY ranks #73 of 441 names in our universe.
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 | $170 | −0.31 | $6.95 Sep 28 | $695.00 | $17,000 | 4.09% | 46.6% | $163.05 | 1,277 | 363 |
| 0.20Δ | $160 | −0.20 | $3.85 Sep 28 | $385.00 | $16,000 | 2.41% | 27.4% | $156.15 | 972 | 188 |
Snapshot #230 · session 2026-09-28 · captured 22:41 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 32
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $165 | −0.30 | $11.10 Sep 28 | $1,110.00 | $16,500 | 6.73% | 30.3% | $153.90 | 1,672 | 158 |
| 0.20Δ | $150 | −0.19 | $6.00 Sep 28 | $600.00 | $15,000 | 4.00% | 18.0% | $144.00 | 11,392 | 128 |
Snapshot #230 · session 2026-09-28 · captured 22:41 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 81
Covered calls on SKHY
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $205 | 0.30 | $5.94 Sep 28 | $594.00 | 3.27% | 37.2% | 15.95% | 182.0% | 28 | 16 |
| 0.20Δ | $220 | 0.19 | $3.53 Sep 28 | $353.00 | 1.94% | 22.1% | 22.87% | 260.9% | 82 | 21 |
Snapshot #230 · session 2026-09-28 · captured 22:41 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 32
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $225 | 0.30 | $8.95 Sep 28 | $895.00 | 4.92% | 22.2% | 28.60% | 128.9% | 2,730 | 8 |
| 0.20Δ | $240 | 0.23 | $6.45 Sep 28 | $645.00 | 3.55% | 16.0% | 35.47% | 159.8% | 2,398 | 107 |
Snapshot #230 · session 2026-09-28 · captured 22:41 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 81
SKHY volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 59.6%session 2026-09-28
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Sep 28, 2026
- Open interest, stored window
- 125,666 contractssession 2026-09-28
- Largest open-interest line
- $210 call · Dec 18 · 36,931
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #73 of 441 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 (1 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.