the top image is probably the most correct as far as socks go
I think the problem you are having is that you are trying to shade it like its a solid object when clothing materials is much more dynamic even if it is filled with something solid it will almost always have greases, folds, and dimples

drawing any sort of cloth-like material is always hard to figure out it just takes some practice

first, you should try to add some "cracks and holes" where the material bend to give the illusion that the material is being pushed inside itself then you should change the shape a little so that it's not just straight lines

here is a quick example I threw together


I hope this is somewhat Helpful