The morning session seems to indeed be following this script; the Nasdaq crashed hard, but it hasn't dropped much. 😆
$SK Hynix(SKHY.US) is expected for the ADR price to return tomorrow (no big drop). A bunch of institutions bought so many ADRs at 149, they shouldn't easily let the stock drop significantly causing themselves huge losses, so there might be resistance. And they likely bought quite a few puts before earnings for hedging; looking at the option chain, there are many open positions below 120p. If it doesn't drop significantly tomorrow, these puts will expire worthless. Once expired, market makers will unwind their short put hedges, forming certain buying pressure. The above could at least happen in the early session. It's unclear if the arbitrage mechanism has started yet, and due to FOMC reasons, the afternoon trend will change with market news.
Finally, the above is purely fictional; if there are any coincidences, they are just that.
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