This weekly newsletter pulls together summaries of the top ten most-read Insights across Equity Derivatives on Smartkarma.
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1. SK Hynix (000660 KS) Tactical UPDATE Ahead of Sep 22’s MTD Opposition Deadline
- Sanghyun Park has explained in detail what happens on Sep 22 (Plaintiffs’ MTD Opposition Filing Deadline) for SK Hynix (000660 KS) . Effects could be visible from Sep 23.
- Our previous insight updated the stock’s profit targets for this rally (“the rally could reach 2,000,000 on the third week”). This is the third week and it’s still below target.
- SK Hynix rallied less than expected and seems to be at an inflection point: has cleared P50 resistance but P75/1,996,000 is far. Sep 22 could be a turning point.
2. China’s AI Playbook Has Nearly Closed the Gap with the US: Which Are the Chinese AI Names to Own Now
- The US outspent China 23-to-1 on private AI investment in 2025, yet the model performance gap collapsed from ~31 percentage points to 2.7% in under three years.
- Beijing is not chasing AGI. It is deploying AI as industrial infrastructure — robots, healthcare, manufacturing — backed by state capital, open-source models, and a 2030 deadline.
- A dozen Chinese AI pure-plays now trade publicly, mostly in Hong Kong, with more IPOs in the pipeline. Valuations are steep but structural tailwinds are durable.
3. Japan Single Stock Options: Call Overwriting After Strong Gains
- Japanese equities have posted strong, broad-based gains in 2026. The BOJ’s moderate-growth outlook supports a cautiously bullish view for the remainder of the year.
- Combined with elevated implied volatility, this outlook favours out-of-the-money call overwriting as a means of generating premium income while retaining some upside participation.
- Five illustrative November examples show how call overwriting balances premium income against retained upside.
4. Samsung Electronics (005930 KS) Tactical Outlook: Profit Targets
- Samsung Electronics (005930 KS) currently in its third week up, the rally is short-term overbought but could continue this week and the next.
- Our model has identified profit targets for the current rally, for the next 2 weeks.
- We also discuss support price zones, in case the stock starts to pullback this week, all the details are discussed below.
5. 84x Surge in the Covered Call ETFs Market in Korea from End of 2024 to June 2026
- Covered call ETF market has been one of the fastest growing ETF sector in Korea in the past three years.
- It is estimated that the covered call ETF net assets in Korea surged to about 28.5 trillion won at the end of June 2026, up 84x from end of 2024.
- While the Korean stock market is trading sideways/gradually turning higher since early August, there may be a greater interest in these covered call ETFs.
6. WEEKLY Tactical Recap | Asymmetric Setup: SK Hynix, Meituan, ICICI, Ping An Insurance, CATL, Zijin M
- WEEKLY tactical global macro recap/analysis for several markets and stocks we track, grouped by sector.
- We apply our quantitative models to each instrument’s trend, to determine which stocks/markets are just starting a trend, are in the middle of it, or are about to end it.
- Most overbought: Meta, Hitachi Ltd, SK Hynix Most oversold: Meituan, ICICI Bank, HKEX and Clearing, Ping An Insurance, Contemporary Amperex Technology (CATL), Komatsu, Hanwha Solutions, Zijin Mining, Shin Etsu Chemical
7. Divi’s Labs: Oral Wegovy Scale-Up, New Optionality
- Novo committed to scale oral Wegovy manufacturing tenfold by 2030, opening potential peptide overflow work for integrated Indian CDMOs such as Divi’s.
- Oral semaglutide is far more peptide-intensive per patient than injectable Wegovy, so capacity scale-up raises demand for fragments, building blocks and cost-efficient CDMO supply.
- Treat oral Wegovy as optionality only; Lilly tirzepatide remains Divi’s core peptide opportunity, and Divi’s stays our top India Pharma pick.
8. Hong Kong Single Stock Options Weekly Sept 14–18: MiniMax Option Volumes Surge
- HSI remains well below its August high despite a relatively modest weekly decline, while breadth across the optionable universe stayed soft.
- MiniMax dominated option trading throughout the week, accounting for much of the activity among the busiest contracts.
- Index implied volatility has firmed during September but remains subdued on a longer-term basis as the single stock spread continues to normalize.
9. TSMC (2330 TT) Tactical Outlook After 6% Foundry Wafer Price Increase Announcement
- TSMC (Taiwan Semiconductor Manufacturing) (2330 TT) closed the week up at 2,475. The stock has been flattening in the last few weeks, since the end of June, capped below 2,500.
- Recent news indicates TSMC is raising advanced process node prices by up to 6% due to constrained foundry capacity extending through 2030. Scheduled to take effect starting January 1, 2027.
- Sentiment remains highly bullish, driven by persistent AI demand, 1-year price analysts targets sit at ~TWD 3,175-3,224 (implying significant upside), with top-end estimates up to TWD 4,200.
10. SK Hynix (000660 KS): Volatility Falls to 55% as Leveraged ETF Activity Fades
- SK hynix (000660 KS) gained 11.2% in September MTD and its 2x Leveraged Index rose 20.9%, but combined AUM increased only 10% as redemptions offset performance.
- Units outstanding fell across all seven long leveraged ETFs. In contrast, units in the inverse product more than doubled and its market capitalisation rose 56%, despite negative performance.
- Annualised 21-day volatility more than halved from its late-July peak of 179% to 55%. The decline coincided with the collapse in ETF trading activity and fund flows following regulatory changes.
