SK Hynix ADR Surges Over 20% as Leveraged ETF and Options Trading Launch

According to Yonhap Infomax, SK Hynix ADR (NAS: SKHY) surged 20.72% to $183.91 in afternoon trading on the New York Stock Exchange on July 14, with intraday gains reaching 23.06% to $187.48, the highest price since its listing on July 10.

The rally was driven by the launch of leveraged exchange-traded funds (ETFs) tracking SK Hynix ADR performance and options trading. U.S. ETF operators began offering 2x daily return tracking ETFs and inverse ETFs on the previous day. Leveraged ETFs require fund managers to purchase additional SK Hynix ADR shares or derivatives when investor capital flows in, amplifying upward momentum. Call option trading launched simultaneously, with increased demand for short-term bullish bets and market makers' hedging purchases further accelerating price gains.