SK Hynix Nasdaq debut: wetin the numbers show

For July 10, 2026, SK Hynix, di Korean memory-chip giant and Micron closest listed rival, start to trade for Nasdaq. Na this year second-biggest US listing after SpaceX June deal. This page gather SK Hynix Nasdaq debut from primary records: the raise, day-one tape, the young spread, short-volume file, and the meaningful silence for options tape. Every number na stored query; expand any panel make you see the SQL.

SK Hynix na who, and why this debut matter

SK Hynix na one of the two biggest memory-chip makers for world, together with Samsung Electronics. Micron na the third company among the big three. The company dey make DRAM, wey be the working memory inside every server and PC. E also dey make NAND flash for storage. Then, the AI-era product na HBM: high-bandwidth memory. HBM na stacks of DRAM wey dem bond directly beside an AI accelerator, so e fit feed am data fast enough to keep am busy.

Every leading AI GPU dey ship with HBM attached. This one put SK Hynix directly inside the AI-hardware supply chain wey don dominate the 2026 tape. Before July 10, US investor wey want pure-play listed memory exposure almost get only one big ticker, MU. Now both memory giants dey print for the same tape, in dollars, during US trading hours.

The paper trail and the deal

The listing record and the SEC filing index pin down the deal, venue, wrapper, size, and the arithmetic connecting them:

WITH sk AS (
    SELECT
        any(issuer_name) AS issuer,
        toString(any(listing_date)) AS listed,
        any(primary_exchange) AS exchange_mic,
        any(security_description) AS security,
        round(toFloat64(any(final_issue_price)), 2) AS px,
        round(any(total_offer_size) / 1e9, 1) AS raised,
        round(any(max_shares_offered) / 1e6, 1) AS ads_m,
        round(any(max_shares_offered) * toFloat64(any(final_issue_price)) / 1e9, 1) AS math_bn,
        any(total_offer_size) AS raw_size
    FROM global_markets.stocks_ipos
    WHERE issuer_name = 'SK Hynix Inc' AND listing_date = '2026-07-10'
)
SELECT
    issuer,
    listed,
    exchange_mic,
    security,
    px AS recorded_issue_price,
    raised AS raised_bn,
    ads_m AS ads_offered_m,
    math_bn AS shares_x_price_bn,
    (SELECT count() FROM global_markets.stocks_ipos
     WHERE listing_date >= '2026-01-01' AND listing_date <= '2026-07-10'
       AND total_offer_size > (SELECT raw_size FROM sk)) AS larger_2026_raises,
    (SELECT countIf(form_type IN ('F-1', 'F-1/A')) FROM global_markets.stocks_sec_edgar_index
     WHERE issuer_name ILIKE '%hynix%' AND filing_date >= '2026-05-01' AND filing_date <= '2026-07-10') AS f1_registrations,
    (SELECT countIf(form_type = 'F-6') FROM global_markets.stocks_sec_edgar_index
     WHERE issuer_name ILIKE '%hynix%' AND filing_date >= '2026-05-01' AND filing_date <= '2026-07-10') AS f6_adr_registrations
FROM sk

The records: SK Hynix Inc, listed 2026-07-10 for exchange XNAS, wey be the Market Identifier Code for the Nasdaq Stock Market, the receipt for the venue wey this page title mention. The security field read ADR: the US line na American Depositary Shares, the wrapper wey US investors dey actually trade, on ordinary shares wey still dey listed for Seoul. The deal itself: 177.9 million ADSs for recorded issue price of $158.14. If you multiply both, you get $28.1B, wey match the recorded 28.1B raise; the arithmetic balance. Na exactly 1 US listing raise more for 2026, SpaceX June deal, and the league table below show this rank instead of just claiming am. The filing trail mark am as foreign private issuer debut: 2 F-1 registrations, wey be the overseas equivalent of S-1, and 1 F-6, the form wey register the ADS program itself.

Wetin the record no carry, we need state am clearly. The lowest and highest recorded offer prices dey equal, because the field store the final price, no be the marketed range. So, you no fit check pricing against the range here. Underwriter names and the ADS-to-ordinary-share ratio dey inside the F-1 and F-6 documents. Our EDGAR index count those filings but no parse wetin dey inside dem. The shares-outstanding field empty, so this page no calculate market capitalization. We no publish figures wey we no fit receipt. The ratio still matter mechanically: each ADS represent fixed number of ordinary shares wey F-6 set, and depositary banks fit create or cancel ADSs against the Seoul line. Na through this conversion channel the US price and the Korean price dey discipline each other.

Where $28B raise rank for 2026

“Second-largest for the year” na claim, so na why we dey show the ranking from the offering records, with full context for the H1 IPO ledger:

SELECT
    issuer_name,
    toString(max(listing_date)) AS listed,
    round(max(total_offer_size) / 1e9, 1) AS raised_bn,
    round(100 * max(total_offer_size) / max(max(total_offer_size)) OVER (), 1) AS pct_of_largest
FROM global_markets.stocks_ipos
WHERE listing_date >= '2026-01-01' AND listing_date <= '2026-07-10'
  AND ipo_status IN ('new', 'history') AND total_offer_size > 0
GROUP BY issuer_name
ORDER BY raised_bn DESC, issuer_name
LIMIT 8

SpaceX June listing dey lead with $75B; SK Hynix own of $28.1B dey second at 37.5% of am, while third place, Cerebras Systems Inc, raise $5.6B. The real thing wey the chart dey show na the sharp drop after second place: 2026 get two mega-deals, and this one na one of dem.

Make we clear one thing, because two dollar figures for this page dey close enough to cause confusion: $28.1B na the offering, capital wey dem pay once at the issue price, while $18.03B below na day-one trading turnover, meaning say shares change hands at market prices, mostly between investors wey no be part of the deal.

Di first session, for one row

SELECT
    round(toFloat64(argMinIf(open, window_start, (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959)), 2) AS first_rth_print,
    round(100 * (toFloat64(argMinIf(open, window_start, (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959))
        / (SELECT toFloat64(any(final_issue_price)) FROM global_markets.stocks_ipos
           WHERE issuer_name = 'SK Hynix Inc' AND listing_date = '2026-07-10') - 1), 1) AS open_vs_issue_pct,
    round(minIf(toFloat64(low), (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959), 2) AS day_low,
    round(maxIf(toFloat64(high), (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959), 2) AS day_high,
    round(toFloat64(argMaxIf(close, window_start, (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959)), 2) AS first_close,
    round(100 * (toFloat64(argMaxIf(close, window_start, (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959))
        / (SELECT toFloat64(any(final_issue_price)) FROM global_markets.stocks_ipos
           WHERE issuer_name = 'SK Hynix Inc' AND listing_date = '2026-07-10') - 1), 1) AS close_vs_issue_pct,
    round(sumIf(toFloat64(close) * toFloat64(volume), (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959) / 1e9, 2) AS rth_dollar_bn,
    round(toFloat64(sum(volume)) / 1e6, 1) AS day_shares_m,
    (SELECT count() FROM global_markets.delayed_stocks_minute_aggs
     WHERE ticker = 'SKHYV' AND window_start < toDateTime('2026-07-10 00:00:00')) AS bars_before_debut
FROM global_markets.delayed_stocks_minute_aggs
WHERE ticker = 'SKHYV'
  AND window_start >= toDateTime('2026-07-10 04:00:00') AND window_start < toDateTime('2026-07-11 00:00:00')

Di first regular-hours print cross at $170, 7.5% above di recorded issue price. Di session range from $177 high reach $166.19 low and e close at $168.33, still 6.4% above issue after e drop from di open, with 18.03B of regular-hours dollars and 106.8 million extended-day shares traded: fifth-heaviest name for di whole tape, ahead of QQQ, as di day recap record am. Di symbol receipt show say 0 minute bars dey before July 10, so na genuinely new symbol, unlike di reused one wey SpaceX debut come with.

Microstructure for day one: spread wey young

Bid-ask spread for new listing dey start wide, then e dey tight as market makers dey understand the name. Day one na hour zero of that seasoning:

Na so the day take build, print by print: when the cross happen, how much stock change hand for exchange and outside exchange, and wetin the closing auction settle:

SELECT
    formatDateTime(toTimeZone(min(sip_timestamp), 'America/New_York'), '%H:%i:%S') AS first_print_et,
    round(toFloat64(argMin(price, sip_timestamp)), 2) AS first_print_px,
    round(toFloat64(sumIf(size, NOT hasAny(conditions, [15, 16, 38]))) / 1e6, 1) AS matched_shares_m,
    round(toFloat64(maxIf(size, has(conditions, 8))) / 1e6, 2) AS closing_cross_shares_m,
    round(toFloat64(argMaxIf(price, (size, sip_timestamp), has(conditions, 8))), 2) AS official_close,
    round(100 * toFloat64(maxIf(size, has(conditions, 8))) / toFloat64(sumIf(size, NOT hasAny(conditions, [15, 16, 38]))), 1) AS cross_pct_of_day,
    round(100 * toFloat64(sumIf(size, exchange = 4 AND NOT hasAny(conditions, [15, 16, 38]))) / toFloat64(sumIf(size, NOT hasAny(conditions, [15, 16, 38]))), 1) AS off_exchange_pct
FROM global_markets.stocks_trades
WHERE ticker = 'SKHYV'
  AND sip_timestamp >= '2026-07-10 00:00:00' AND sip_timestamp < '2026-07-11 00:00:00'

The first print happen for 11:34:47 ET at $170. Na late-morning IPO cross, wey be the normal pattern for debut. For the whole session before the cross, quotes dey only one side. 107.7 million shares match for the day, and 33% of dem happen outside exchange. The closing auction print 0.82 million shares at the official close of $168.01, just 0.8% of the day. This show say debut activity dey happen for continuous trading, no be for the close.

SELECT
    toHour(toTimeZone(sip_timestamp, 'America/New_York')) AS et_hour,
    round(quantileDeterministicIf(0.5)((toFloat64(ask_price) - toFloat64(bid_price)) / ((toFloat64(ask_price) + toFloat64(bid_price)) / 2) * 10000, toUInt64(toUnixTimestamp64Micro(sip_timestamp)), bid_price > 0 AND ask_price > bid_price), 1) AS med_spread_bps,
    count() AS quote_updates,
    countIf(bid_price > 0 AND ask_price > bid_price) AS two_sided_updates
FROM global_markets.cache_stocks_quotes
WHERE ticker = 'SKHYV'
  AND sip_timestamp >= toDateTime64('2026-07-10 13:30:00', 9) AND sip_timestamp < toDateTime64('2026-07-10 20:00:00', 9)
  AND (toHour(sip_timestamp) * 60 + toMinute(sip_timestamp)) BETWEEN 810 AND 1199
GROUP BY et_hour
HAVING countIf(bid_price > 0 AND ask_price > bid_price) > 0
ORDER BY et_hour

Before the IPO cross print for 11:34:47 ET, no two-sided market dey to measure. The table start for the first hour wey real quotes dey on both sides. From there, median spread na 10 bps for the first hour wey dem fit measure. E finish the day tighter at 4.1 bps. Even for day one, e already tighter than wetin SpaceX's June listing show for the early sessions. This match the deal size and the two-sided interest wey direct rival to MU dey attract. The spread level by week two na the seasoning receipt wey person suppose watch.

Di same session wey memory trade happen

The debut land inside the market story wey traders trade pass this month: MU, the stock wey trade pass SPY itself for the whole week, plus drive makers STX and WDC. Na the complete memory complex be this for debut day, regular hours only:

SELECT
    ticker,
    round(toFloat64(argMinIf(open, window_start, (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959)), 2) AS rth_open,
    round(toFloat64(argMaxIf(close, window_start, (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959)), 2) AS rth_close,
    round(100 * (toFloat64(argMaxIf(close, window_start, (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959)) / toFloat64(argMinIf(open, window_start, (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959)) - 1), 2) AS open_to_close_pct,
    round(sumIf(toFloat64(close) * toFloat64(volume), (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959) / 1e9, 2) AS rth_dollar_bn
FROM global_markets.delayed_stocks_minute_aggs
WHERE ticker IN ('SKHYV', 'MU', 'WDC', 'STX')
  AND window_start >= toDateTime('2026-07-10 04:00:00') AND window_start < toDateTime('2026-07-11 00:00:00')
GROUP BY ticker
ORDER BY rth_dollar_bn DESC, ticker

MU trade pass the new name even for the debut day: $25.9B against SKHYV's $18.03B, first and second among memory names. The drive makers dey far behind with $3.09B and $1.68B. Direction no be the same across the complex: MU finish 1.42% higher from open to close, and the drive makers rally more strongly, STX 5.7%, WDC 3.28%. But the debut itself fall -0.98% from first print to close. Dem all move for the same timing, e dey inside the record, and the new line quickly become the sector's second-heaviest tape.

Short sellers enter on day one

FINRA daily off-exchange volume file dey show the shares wey dem mark as short. SKHYV dey inside am from e first trading session:

SELECT
    round(max(short_volume) / 1e6, 1) AS short_shares_m,
    round(max(total_volume) / 1e6, 1) AS offex_shares_m,
    round(100 * max(short_volume) / max(total_volume), 1) AS short_pct_of_offex,
    (SELECT uniqExact(ticker) FROM global_markets.stocks_short_volume WHERE date = '2026-07-10') AS file_ticker_count,
    (SELECT max(ticker) FROM global_markets.stocks_short_volume WHERE date = '2026-07-10') AS file_last_ticker
FROM global_markets.stocks_short_volume
WHERE ticker = 'SKHYV' AND date = '2026-07-10'

21.3 million out of 34.9 million off-exchange shares, 60.8%, dem mark as short for the debut day. Make we apply two disciplines before we attach meaning to am. First, the file complete: 15116 tickers, up to ZYME. The completeness probe June 29 forensics deep-dive show say e fit fail for middle of alphabet. Second, marked-short na first a market-plumbing classification before e become conviction. If market maker sell shares wey e never locate, e mark the print short for regulatory classification. New listings dey pass heavily through this machinery. Daily short volume no be short interest. The first settlement-based print go show for the bi-weekly cycle later this month. That number na the one wey measure positioning.

Options: absence get receipt, with clock

No listed options trade for the debut, and this page store that zero as data, beside a clock from the year's two other big debuts:

SELECT
    (SELECT count() FROM global_markets.options_trades
     WHERE ticker LIKE 'O:SKHYV%'
       AND sip_timestamp >= toDateTime64('2026-07-10 00:00:00', 9) AND sip_timestamp < toDateTime64('2026-07-11 00:00:00', 9)) AS skhyv_debut_day_option_trades,
    (SELECT dateDiff('day', toDate('2026-06-12'), min(toDate(toTimeZone(sip_timestamp, 'America/New_York'))))
     FROM global_markets.options_trades
     WHERE ticker LIKE 'O:SPCX%'
       AND sip_timestamp >= toDateTime64('2026-06-12 00:00:00', 9) AND sip_timestamp < toDateTime64('2026-07-11 00:00:00', 9)) AS spacex_days_to_first_option,
    (SELECT dateDiff('day', toDate('2026-05-14'), min(toDate(toTimeZone(sip_timestamp, 'America/New_York'))))
     FROM global_markets.options_trades
     WHERE ticker LIKE 'O:CBRS%'
       AND sip_timestamp >= toDateTime64('2026-05-14 00:00:00', 9) AND sip_timestamp < toDateTime64('2026-07-11 00:00:00', 9)) AS cerebras_days_to_first_option

0 SKHYV option contracts print for July 10. This na receipt of absence wey dem store as deliberate tripwire. Dem bound the zero for exactly zero, so once options start to print, regeneration go fail loudly. Then dem go rewrite this section instead of allowing am to quietly become stale. The clock from comparable listings: SpaceX June 12 listing see its first listed-option trade 4 calendar days after debut; Cerebras May 14 listing take 4, and both happen within one week. Once the contracts arrive, dem go join the machinery the expiration calendar dey explain.

Risk wei dey, and wetin to watch next

Na day one be the only complete session wey don happen: debut na Friday, and dem upload this page over the weekend. So, second session go print on Monday, July 13. Dem receipts go show for daily recaps, and one-month review go follow, similar to SpaceX first-month review. The watchlist na:

• The two-price structure. Seoul ordinaries dey trade for won during Korean hours; ADS dey trade for dollars during US hours. The dollar price get won exchange rate inside am. Gaps fit open while one market dey sleep, and depositary conversion dey close dem. So, person wey hold ADS mechanically get currency exposure too.
• The lock-up. F-1 dey set insider lock-up terms. E usually dey around 180 days, but prospectus get the exact date; our EDGAR index dey count am, e no dey parse am. Expiry na known future supply event.
• Index eligibility. SpaceX index addition show wetin inclusion announcement fit do to young ticker tape. Committees dey publish their own rules and timelines. If announcement come, na tape event to measure, no be something to predict.
• The first short-interest settlement print, wey go convert day-one short-volume plumbing into actual positioning number.

SK Hynix debut FAQ

Wetin be SK Hynix US ticker, and where e dey trade?

The US line dey trade as SKHYV for Nasdaq. The listing record carry exchange code XNAS, wey be Nasdaq Market Identifier Code, and security type ADR: American Depositary Shares. The ordinary shares still dey listed for Seoul.

How big SK Hynix US listing be?

177.9 million ADSs for $158.14. Na 28.1B raise. E be the second-biggest US listing for 2026. Exactly 1 deal, SpaceX June raise, come bigger, according to the H1 ledger.

How SK Hynix stock perform for the first day?

E open 7.5% above the issue price for $170. E trade between $166.19 and $177, then close for $168.33, wey be 6.4% above issue price. Regular-hours dollar volume reach 18.03B. Na the fifth-heaviest tape for the session.

How many ordinary shares one SKHYV ADS represent?

The ratio fixed dey for the F-6 registration (1 on file during the run-up). Listing record no carry this field. Read am from the F-6 or the depositary program page before you compare US price with the Seoul quote.

When SK Hynix options go start trading?

No SKHYV contracts print for debut day. The other two big debuts this year take 4 and 4 calendar days before their first listed-option trade. If SKHYV follow the same pattern, options go arrive within the first week. This page tripwire go flag the moment dem start.

Data notes

Every panel na stored, versioned query wey dey run on listing records, SEC filings, and the tape. You fit expand the SQL or follow the seasoning for the Strasmore terminal.