Daily Options Outlook | SK Hynix up 2.28% in pre-market trading, announces KRW 40 trillion stock buyback plan; Bitcoin rebound boosts crypto-related stocks, with MSTR up 10.51% in pre-market trading

Today's Options Opportunity Outlook

On a macro level,$Invesco QQQ Trust (QQQ.US)$Up 0.53% in pre-market trading,$SPDR S&P 500 ETF (SPY.US)$Up 0.34% in pre-market trading, the Nasdaq-100 Index faces pressure from a potential fifth consecutive daily decline. Long-end US Treasury yields climbed to 5.33%, oil prices broke through $87 per barrel, and tech stock valuations are under pressure. The US Treasury's expanded bond buyback program failed to sustainably lower interest rates. Market funds are flowing into real assets such as energy and gold. Meanwhile, over $70 million in put options were sold in the QQQ options market, indicating that some investors are betting the pullback will stabilize near previous lows. Options data shows QQQ's Put/Call volume ratio rose to 1.32 in the previous trading session,implied volatility(IV) reached 23.45%.

At the individual stock level,$SK hynix (SKHY.US)$Up 2.28% in pre-market trading, SK Hynix announces a KRW 40 trillion stock buyback plan. Options market data shows the stock's Put/Call volume ratio has dropped to 1.03, with implied volatility reaching 76.81%.

Looking at options expiring on 2026-08-21, the call option with a strike price of $165 had the highest volume, surging 54.55%.

$Tesla (TSLA.US)$Pre-market gains of 1.21%, as Tesla's Cybercab will open for public test rides in Austin at the end of this month. Options market data shows the stock's Put/Call volume ratio rose to 0.96, with implied volatility reaching 44.15%.

$Strategy (MSTR.US)$ Surged 10.51% in pre-market trading, as $Bitcoin (BTC.CC)$The company's holdings have turned profitable following a sharp rebound. Options market data shows the stock's Put/Call volume ratio at 0.41, with implied volatility reaching 90.34%, indicating significant short-term bullish sentiment.

Options Market Recap for Yesterday

Index Options

On August 20 (US Eastern Time), trading volume in the US equity index options market increased, with a total of 5.91 million contracts traded. The Put/Call ratio declined to 0.93.

In the upcoming expiration cycle,$S&P 500 Index (.SPX.US)$ The distribution of options trading volume showed the following characteristics: peak put option volume at the 7,630 point strike, and peak call option volume at the 7,700 point strike.

Individual stock options

$Strategy (MSTR.US)$Closed up 7.81%, with 746,800 options contracts traded; the Put/Call volume ratio dropped to 0.41. Strategy returned to profitability as Bitcoin prices broke through $75,000, driving the stock price up by more than 10% consecutively.

$Moderna (MRNA.US)$Closed down 23.55%, with 613,800 options contracts traded; the Put/Call volume ratio dropped to 1.32. Moderna and Merck & Co's jointly developed personalized mRNA cancer vaccine succeeded in Phase III clinical trials, causing the stock price to surge 176% in a single day.

Top Option Volume Rankings

Among the top 10 stocks by option volume,$Moderna (MRNA.US)$The put/call volume ratio hit its highest level, reaching 1.32.

The highest put/call open interest ratio belongs to$Moderna (MRNA.US)$, reaching 1.59.

Implied Volatility Rankings (underlying market cap > $1 billion and option volume > 100,000 contracts)

$Hyperliquid Strategies (PURR.US)$Implied volatility hit its peak at 125.44%, down 0.87% from the previous trading session. Trump stated that regulators are pushing for Hyperliquid's compliant entry into the US market, sending the company's stock soaring 30%.

$MARA Holdings (MARA.US)$Implied volatility saw the largest increase, reaching 94.67%, up 6.40% from the previous trading session. Trump urged Congress to pass cryptocurrency legislation, MARA's stock surged over 10% in a single day, and Bitcoin broke through $72,000.

Risk Warning

An option is a contract that gives the holder the right—but not the obligation—to buy or sell an underlying asset at a fixed price on or before a specific date. The price of an option is influenced by multiple factors, including the current price of the underlying asset, the strike price, time to expiration, and implied volatility.

Implied volatility reflects the market's expectation of future price fluctuations over the life of an option. It is derived by back-solving from the Black-Scholes option pricing model and is generally viewed as an indicator of market sentiment. When investors anticipate greater volatility, they may be willing to pay higher prices for options to hedge risk, leading to elevated implied volatility.

Traders and investors use implied volatility to assessOption pricesto assess attractiveness, identify potential mispricings, and manage risk exposure.

Disclaimer
This content does not constitute an offer, solicitation, recommendation, advice, opinion, or any form of guarantee regarding any securities, financial products, or instruments. The risk of loss in trading options can be substantial. In certain circumstances, your losses may exceed the initial margin deposit you made. Even if you place contingent orders, such as 'stop-loss' or 'limit' orders, there is no assurance these will prevent losses. Market conditions may render such orders unexecutable. You may be required to deposit additional margin funds on very short notice. If you fail to meet such a margin call within the specified timeframe, your open positions may be liquidated. Nevertheless, you remain liable for any resulting deficit in your account. Therefore, you should thoroughly research and understand options before trading and carefully consider whether such transactions are suitable for you based on your financial condition and investment objectives. If you trade options, you should be familiar with the procedures for exercising options and handling expirations, as well as your rights and obligations upon exercise or expiration. Options trading involves substantial risk and is not appropriate for all investors. Investors should carefully read"Characteristics and Risks of Standardized Options"。

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