SK Hynix plunges 7.4% midday, early morning short sellers already profited nearly 60% of principal

Odaily Planet Daily News: According to Hyperinsight monitoring, SKHX on Hyperliquid surged to a high of $1353.2 at 9:15 AM today, before a rapid midday plunge hitting a low of $1253.1 at 1:40 PM, a drop of 7.4% from the peak. As of press time, SKHX is trading around $1256.8, having essentially erased all of its early morning gains.

One whale managed to establish a short position just before this peak. Between 7:00 AM and 9:10 AM today, through 491 transactions, they sold a total of 2000 SKHX contracts, with an average entry price of $1333.98. The transaction volume, calculated as price × quantity, amounted to approximately $2.668 million, with a trading fee of about $160.

As of press time, the whale holds 2000 short positions on SKHX with 10x full margin. The position value is approximately $2.5138 million, with an unrealized profit of around $154,200, yielding a return rate of approximately 57.8%. The liquidation price is approximately $4120.99. Currently, no take-profit or stop-loss orders have been set for SKHX.

Based on historical trading, this whale is a medium-to-high frequency, multi-asset short-term address. Over the past 7 days, the trading volume reached approximately $116 million, generating profits of $510,300. Previously, they mainly traded BTC and ETH in the crypto market, and this marks their first time shifting positions to SKHX.