Samsung Electronics, SK Hynix Downside Blocked... Next Week Nvidia Changes the Game / The Identity of 'Upside Betting' Caught in Foreign Options | Mirae Asset Global Investments Director Choi Chang-gyu

[#RealMarket] Samsung Electronics, SK Hynix downside blocked... Next week Nvidia changes the game. / The identity of 'upside betting' caught in foreign options | Mirae Asset Global Investments Director Choi Chang-gyu
Watch on YouTube ↗  |  August 23, 2026 at 11:00  |  42:09  |  815 Money Talk (815머니톡)
Speakers
Choi Chang-gyu — Director, NH Investment & Securities

Summary

Mirae Asset ETF Director Choi Chang-gyu reviews US and Korean market conditions ahead of the AI semiconductor super week. He argues Anthropic and OpenAI revenue acceleration validates AI infrastructure demand, and analyzes SK Hynix and Samsung Electronics shareholder-return policies as stabilizing forces. He also walks through retail and foreign futures and options positioning, concluding that foreign options are positioned for a potential upside break around Nvidia-related events.

  • US markets recovered as long-term yields stabilized, while semiconductors consolidated before Hot Chips and Nvidia earnings.
  • Anthropic and OpenAI revenue acceleration is read as proof that AI spending is converting into real enterprise demand, supporting Korean semiconductor names.
  • SK Hynix announced a 40 trillion won buyback with full cancellation, while Samsung Electronics lifted 2026 shareholder return to 90-110 trillion won.
  • Micron is prioritizing HBM capex over buybacks today but has a longer-term excess-cash shareholder return story.
  • Retail investors sold leveraged semiconductor ETFs and bought SOXX, which the speaker interprets as de-risking rather than leaving semiconductors.
  • Foreign futures are selling rallies, but foreign options show a bullish collar, implying event-driven upside potential for KOSPI 200.
  • Key week events include Hot Chips, Nvidia earnings, Marvell earnings, PCE and Jackson Hole.
Ideas
Choi Chang-gyu Director, NH Investment & Securities 6:10
Semiconductor ETF flows show de-risking only.
The upcoming week is an AI semiconductor super week with Hot Chips, Nvidia earnings, Marvell earnings, PCE and Jackson Hole. The speaker says these events will simultaneously test AI semiconductor technology, demand, profitability and long-term rate direction; if Nvidia, Marvell or Hot Chips exceed market expectations, the AI semiconductor complex can rally sharply. He frames foreign options as positioned for a large upside surprise.
SOXX MED
Choi Chang-gyu Director, NH Investment & Securities 8:00
AI revenue acceleration supports Korean semiconductor demand.
Anthropic's annualized run-rate revenue surpassed $65B and OpenAI's August annualized revenue accelerated to about $45B, with enterprise/API demand becoming the main driver. The speaker argues this shows AI spending is converting from experimentation into actual enterprise spending, which leads to more token usage, computing, AI accelerators, HBM, networking and data center demand, directly benefiting Korean semiconductor companies.
SMH HIGH
Choi Chang-gyu Director, NH Investment & Securities 17:02
SK Hynix buyback-cancellation signals undervaluation.
SK Hynix announced an unprecedented 40 trillion won buyback with full retirement of shares and a cumulative FCF shareholder return target of 50% or more with early implementation. Full cancellation matters more than a simple buyback because it reduces share count and lifts EPS; the company's HBM-driven net cash of about 69 trillion won gives it cash firepower, and management is signaling the stock is undervalued.
000660.KS HIGH
Choi Chang-gyu Director, NH Investment & Securities 21:10
Samsung's record cash return supports stock.
Samsung Electronics raised its 2026 shareholder return target to a record 90-110 trillion won, with about 30 trillion won in cash dividend planned as early as Q3, plus a 15 trillion won employee compensation buyback. The speaker views this as a major shift in capital allocation toward returning cash directly to shareholders; it should reduce AI semiconductor volatility and give investors a longer-term reason to hold Samsung Electronics, though the exact Q3 dividend and post-2027 policy still need confirmation.
005930.KS HIGH
Choi Chang-gyu Director, NH Investment & Securities 24:18
Micron buyback expansion later after capex.
Micron is improving earnings and cash generation from AI/HBM, but unlike Samsung and SK Hynix it is prioritizing HBM capacity and advanced memory capex over immediate buybacks. It has a 100 billion dollar buyback authorization but limited execution so far; the speaker expects that once capex growth slows and excess cash accumulates, Micron will expand buybacks and the stock can rise again.
MU MED
Choi Chang-gyu Director, NH Investment & Securities 28:18
AI semiconductor super week offers upside catalyst.
The upcoming week is an AI semiconductor super week with Hot Chips, Nvidia earnings, Marvell earnings, PCE and Jackson Hole. The speaker says these events will simultaneously test AI semiconductor technology, demand, profitability and long-term rate direction; if Nvidia, Marvell or Hot Chips exceed market expectations, the AI semiconductor complex can rally sharply. He frames foreign options as positioned for a large upside surprise.
NVDA MRVL MED
Choi Chang-gyu Director, NH Investment & Securities 35:19
Samsung governance names benefit from return policy.
Samsung Life and Samsung C&T are Samsung group governance-axis companies that rallied into the Samsung Electronics shareholder-return announcement, and the speaker argues they remain attractive as indirect beneficiaries of Samsung's return/group value theme. He suggests using ETFs that hold both names, such as TIGER Samsung Group ETF and KODEX Samsung Group ETF, to get exposure; Samsung Life is recovering above its 2011 moving average after a drawdown.
028260.KS TIGER Samsung Group ETF KODEX 032830.KS MED
Choi Chang-gyu Director, NH Investment & Securities 40:41
Foreign options are upside-betting Korean stocks.
Foreign options estimated positioning shifted to a bullish collar, long out-of-the-money calls and short out-of-the-money puts, while futures and spot flows looked zig-zag. The speaker interprets this as a bet that the Korean market can move violently higher on a positive event surprise during the AI semiconductor super week, making the KOSPI 200/Korean index skewed to the upside.
KOSPI 200 MED
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This 815 Money Talk (815머니톡) video, published August 23, 2026, features Choi Chang-gyu discussing SOXX, SMH, 000660.KS, 005930.KS, MU, NVDA, MRVL, 028260.KS, TIGER Samsung Group ETF, KODEX, 032830.KS, KOSPI 200. 8 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Choi Chang-gyu  · Tickers: SOXX, SMH, 000660.KS, 005930.KS, MU, NVDA, MRVL, 028260.KS, TIGER Samsung Group ETF, KODEX, 032830.KS, KOSPI 200