SK Hynix Open Interest Drops 48.4% as $300M in Positions Exit Amid Deleveraging

SK Hynix derivatives face massive outflows with OI falling nearly 50% while price drops only 8%, signaling aggressive long-position liquidation rather than market-driven sell-offs.

Woofun AI data shows that SK Hynix (SKHX) open interest has contracted by approximately $301 million, a cumulative decline of 48.4% from its cyclical high of $622 million to the current level of $321 million. This contraction occurred alongside a relatively modest 8.2% price decrease from $1,165.5 to $1,070.3, indicating that the volume drop is driven primarily by active position reduction rather than price depreciation. In contrast, peers MU and SNDK saw their open contract counts rise by 4.5% and 5.3% respectively, despite price declines of 4.7% and 4.3%, highlighting SKHX as the sole asset experiencing simultaneous shrinkage in both dollar-denominated OI and contract volume.

Recent on-chain activity reveals a concentrated exodus of long positions. Over the past 24 hours, SKHX traded at $1,070.3 with a 5.2% decline and $644 million in volume. In the most recent four-hour window, large holders reduced long positions by approximately $5.593 million, while short position reductions were limited to about $795,000. This marks the second significant deleveraging phase in the near term, following a 27.6% OI drop on July 31 when prices rebounded to $1,165.5.