Key Highlights

  • Tradr 2X Short SK hynix Daily ETF (CBOE:SKHN) rose 13.12% to USD 18.28 on October 22, 2026, from about USD 16.16, implying SK hynix fell about 6.6%, simple arithmetic on the published change and the quote.
  • SK hynix is expected to report a record third-quarter operating profit of about KRW 77 trillion on October 29, 2026, with fourth-quarter consensus near KRW 87 trillion.
  • Meritz Securities estimates SK hynix's selling prices rose 22% for DRAM and 15% for NAND in the third quarter, which is the backdrop for the Earnings expectations.
  • The fund launched on July 27, 2026, charges 1.49% and held only about USD 0.5 million in Assets at its last reading, so spreads can be wide.

What Moved the Fund

The fund rose 13.12% in the October 22, 2026 session, implying SK hynix fell about 6.6%, simple arithmetic ignoring fees. Memory shares have been jumpy since China's ChangXin Memory announced DRAM design progress on October 10 and 11, a headline that triggered heavy selling in memory names. On October 22 sellers returned. Lam Research (NASDAQ:LRCX) posted record Revenue of USD 8.22 billion on October 21, 2026, then fell about 9% on October 22 after guiding December-quarter revenue to USD 8.6 billion, plus or minus USD 400 million, and citing Supply constraints. Sandisk, Micron and Advanced Micro Devices were all lower in premarket trading. The fund is among the smallest in this group, so its price can move more than its net asset value suggests.

SK Hynix Fundamentals

SK hynix is the leading supplier of high-bandwidth memory, with a 50% revenue share in the second quarter according to Counterpoint Research. J.P. Morgan estimates it will hold 54% of Nvidia's HBM supply this year. HBM4 sales are fully included from the third quarter. Consensus operating profit is KRW 76.964 trillion for the third quarter and KRW 87.27 trillion for the fourth. J.P. Morgan sees DRAM contract prices rising 10% to 15% in the fourth quarter. Analysts expect Shareholder returns above KRW 30 trillion, and a stronger won reduces earnings by about KRW 1.21 trillion for each 10% fall in the dollar. Hana Securities expects Buybacks to be favored.

Mechanics and Risks

SKHN, issued by Tradr, seeks minus 2x of SK hynix's daily return using swaps and resets daily. It trades on Cboe BZX and charges 1.49%. If SK hynix rose 10% then fell 10%, the stock would end down 1.0% while the fund would end down 4.0%, simple arithmetic. SK hynix trades in Seoul, so US hours can differ from the underlying session. With very small assets, the fund can close or see wide spreads. A one-day rise above 50% would erase it. Swap financing costs add to the stated fee, and a fund this small can face closure risk. The fund is non-diversified and concentrated in one stock.

Where Things Stand

Tradr 2X Short SK hynix Daily ETF (CBOE:SKHN) rose because SK hynix fell about 6.6% in a memory and AI selloff, and the fund delivers twice the inverse. The company is expected to post another record quarter on strong HBM and DRAM pricing, so the decline reflects sentiment. The October 29, 2026 results are the next catalyst, and a strong report and buyback could reverse the fund's gain quickly. The foreign listing adds timing risk.