Hello, my name is Politan (was Avucado). I was a Masters Pyke Mid OTP (currently diamond) who started playing at the start of season 10. Although I haven't been playing the game as long as most other players, I have over 1,000,000 mastery points on Pyke and a lot of knowledge on this champ. Peaked rank 2 NA and rank 10 world on Pyke based off of leagueofgraphs.com or porofessor. Reached masters with a 62% w/r on Pyke with normal lp gains (15+/-) in season 11. Reached masters for a bit in March(?) of season 12.

This guide will be going over the pros and cons and items and when to build them.
(This Guide is still in progress, I plan on making this an even more in depth guide but I wanted to put this out in the meantime because it will still provide a lot of information and help anyone interested in Pyke.)

Links:
Twitch (I would really appreciate a follow :). I stream my ranked games in League and Valorant)
OP.GG

Pros - Up to 3x the gold from ult - Great engage and escape - High mobility, great roaming and invisibility - Game winning R - Hooks, slows, and stuns - Huge outplay and 1v2 potential - Passive can let you come back into teamfights multiple times - Very good midgame teamfighter - Fun!

Cons - Team bounties always happen - Falls off hard - Can't build health/very squishy - Feast or famine playstyle - Becomes useless if teammates are too behind - Kit is dodgeable, CC bot without R

Pyke, although being very squishy, can escape almost any situation given you are able to react or predict. His resettable execute makes him a priority target which can be a blessing or a curse. Pyke's hook is a good way to pull enemies out of position and enable kills in team fights at all stages of the game and his speed can let him easily position to get an advantage or rotate to skirmishes faster than expected.

Duskblade: Build this basically every game. Allows you to heal your grey health after every kill and can help you escape after using R. Can be paired with Ghostwater Dive to guarantee the passive hit on Duskblade which will help you E or Hook them after Enables greater outplay after a kill as well. Not much else to explain, it's just the best item Pyke can build.

Umbral Glaive: Makes roaming easier and detection harder for the enemy team, making it safer to roam around the map. Controlling vision is extremely important in games, especially when you're in enemy/neutral territory as a squishy champ. Provides decent stats as well for a moderately cheap price.

Youmuu's Ghostblade: Take second only if you are going CDR boots first, if not, take third or fourth. Ghostblade provides even better roaming capability and makes your roaming incredibly more effective. It also has a lot of lethality and a good amount of damage.

Edge of Night: Very solid item on Pyke. Gives you a spell shield which can block one ability. Used correctly, this can completely change the way a team fight goes by letting you survive and execute more enemies or let you get in to get an essential pick. The extra health on the item will turn into AD so the damage from the item isn't as low as it seems. This is a good third item on Pyke if there is a lot of CC or high damage spells with longer cooldowns.

Ravenous Hydra: Don't build this item anymore. It is useless on Pyke.

Deaths Dance: Really strong on Pyke and can be the deciding factor of if you win a team fight or not. Build third after duskblade most games. Killing someone with this item will get rid of the ignore pain damage from DD and heal you for a decent amount. Really good in midgame and makes you unkillable if you're far ahead. If you have a big bounty early you might want to build GA first then DD.

Sterak's Gage: Do not build this on Pyke.

Serpent's Fang: Only build if there are a lot of shield on the enemy team. Very situational but usually decent into enchanters(Ex. Lulu Seraphine). Provides a lot of lethality.

Hexdrinker: Build into AP burst. Upgrade into Maw of Malmortius when at full build.

Executioner's Calling: Can be built first item into Sylas or other champs that heal a lot early in lane. But really only build if your ADC or team refuses to buy it themselves, Pyke doesn't hit enough people to warrant him buying it himself.

Mobility Boots: Preference pick, if you aren't great with roam timers or wave management then I would opt for these boots so you lose less when roaming. If not always go CDR boots they are much better for more experienced players.

Plated Steelcaps: Take into all AD comps or into AA champs (Ex. Yasuo)

Mercurys Treads: Take into heavy CC or AP.

Lucidity Boots: These are the best boots on Pyke because they allow him to go ghostblade second and survive easier because of the insane amount of CDR and low price of the boots. Still keep in mind that Mercs and Steelcaps are very good into mostly ap/ad respectively. (Check mobi boots section if you are new)

Guardian Angel: Use when you have a big bounty. If you are good at keeping bounties and they don't have champs that cant get close to you then you don't have to build this. I would recommend this for almost everybody if you have a 700g bounty though because giving it away could easily lose you the game.