SKHY at $152—are you looking to buy the dip?

First, look at the surface: a roller-coaster rampage right after listing.

It listed on Nasdaq on July 10, priced at $149. Pre-market surged to $180 (+21%), opened at $170, and closed its first day at $168 (+12.8%). It raised $26.5 billion, setting a foreign company record for the U.S. IPO. Then what happened? On July 17, during the day, it briefly fell below the $149 offering price, hitting a low of $145.57. The intraday range was 14.31%, delivering the “down 5% to up 5%” V-shaped reversal.

After 8 days, the price is back to where it started. Everyone who chased the rally has been left hanging at the mountaintop.

First thing: the crash wasn’t because the company is bad—it’s because it’s “too expensive.”

Korea Investment & Securities projected SK hynix’s Q2 revenue at 80.9 trillion won (YoY +264%), operating profit at 60.4 trillion won (YoY +556%), and operating margin at 74.6%, a record high. The company has sold out all its 2026 HBM capacity, and the expected supply shortage will continue through 2027.

Profits are exploding, but the stock price is falling.

Why? Because before listing, market expectations were priced too optimistically—leveraged ETFs, options, and perpetual contracts all launched. Speculative capital pushed the premium above 50%. Profit-taking plus leveraged liquidations triggered a stampede.

Second thing: the HBM leader’s fundamentals haven’t changed.

SK hynix controls about 59% of the global HBM market, meets 70% of NVIDIA’s HBM4 chip demand, and has sold out all 2026 capacity. NVIDIA alone accounts for roughly 27% of its revenue. In June, it just surpassed Samsung to become South Korea’s highest market-cap listed company.

Third thing: the options market tells you—the volatility isn’t over.

On SKHY’s options listing day, implied volatility hit as high as 171%. Normal stock IV is 20–30%, and even Tesla is around 60–70%.

Going long prints money, going short also prints money—only the people chasing rallies and panic-selling are losing money.

On the Hyperliquid platform, SKHX and SKHY contracts combined for over $1 billion in total trading volume over the past 24 hours, directly overtaking ETH to climb to second on the platform.

When longs and shorts go head-to-head, just look for yourself

One side says:

HBM global market share 59%, and 70% of NVIDIA’s HBM4 allocation

All 2026 capacity sold out; shortages continue through 2027

Q2 operating margin expected at 74.6%, a record high

Analyst target price $342; at $152, there’s upside room of about 2x

7x oversubscription on the first day—institutions put up real cash

The other side says:

Falling from $177 to $145 in one week; bloodbath for late chasers

South Korean local shares plunged 15% in a single day; leveraged ETF sell pressure

Q2 profit expectations are below some consensus (lower by 8%)

Options IV at 171%—volatility is extreme

Storage industry’s cyclical risks—supply could recover in 2027–2028

Key levels

Resistance above: 158–160 → 167–170 (prior highs) → 177 (listing high)

Support below: 145–149 (offering price + new low) → 135–140 (deeper pullback)

For short-term traders:

Lightly try longs near $152, stop loss at $145, target $158–162. If it breaks below $145, don’t buy the dip—wait for $135–140.

For swing traders:

Wait for daily candles to regain and hold above $155 before getting in on the right side; targets $170–180. If it breaks below $145 again with volume, don’t catch the falling knife—wait for below $135.

For long-term believers:

DCA in batches from $145 to $152. The HBM super-cycle hasn’t ended—AI capex is still accelerating. Target is $300+ in 2027. You’re betting that the memory shortage persists and valuations get repriced.

SKHY right now is like NVIDIA in 2023—

99% of people think, “it’s up too much, it should drop,” and every pullback ends up being another chance to board.

But what’s different this time is that—25x leverage, 171% volatility, and a chain reaction in leveraged ETFs. A double-explosion script for both longs and shorts is unfolding.

You aren’t investing in an AI blue-chip—you’re betting against the most greedy gamblers on earth. #PreIPOs第二期OpenAI认购 #GateDEX全面接入RobinhoodChain #台积电Q2净利暴增77.4% $SNDK $SKHY $MU