Large capital enters the scene, as a whale plans to open a $90 million long position in SNDK

Odaily reports that SanDisk (SNDK) rose 14.2% in pre-market trading to $1589.4. On July 17, SanDisk hit a low of $1325.03, representing a maximum drawdown of 43.7% from its peak. The latest closing price has rebounded 20.0% from the low but remains 32.5% below the peak.

Hyperinsight monitoring shows that the previously tracked "US stock big winner" whale has made a heavy position layout during this rebound. Starting from zero positions at 13:29 today, the whale purchased 22,910.2 units through 5,380 trades at an average price of $1548.2 by 16:50. Combined with existing pending orders, the planned position amounts to $90 million.

At the time of writing, the SNDK contract is priced at $1554.8. The whale holds the aforementioned long positions with 6x isolated margin, with a position value of approximately $35.6116 million, a liquidation price of $1357.4, and an unrealized profit of about $141,800.

From a timing perspective, the whale may be betting on both the continued oversold rebound in the storage sector and the expectations ahead of the August 5 earnings report. Recent catalysts also include the start of sampling for the 10th generation 3D NAND (BiCS10) and the Investor Day on August 13.

Additionally, the whale's current pending orders for SanDisk and Micron are as follows:

- SanDisk Buy Orders: 22 orders, priced between $1520 and $1546.4, totaling 35,312.2 units, with a committed amount of approximately $54.5709 million. If all are filled, their SNDK long position would increase to about 58,222 units, with a total investment of around $90.04 million.

- SanDisk Sell Orders: 2 orders, priced between $1668.4 and $1671.5, totaling 362.1 units, covering only about 1.6% of the current long position, indicating limited profit-taking protection.

- Micron Sell Orders: 45 orders, priced between $996 and $1018.7, totaling 9,374.218 units, with a committed amount of approximately $9.419 million. Once filled, these will open high-level short positions.

This address belongs to a high-frequency swing trading whale. It has primarily rotated between SanDisk, Micron, Western Digital, the DRAM Index, Intel, and SPCX. Realized profits are mainly concentrated in Intel, Micron, and Western Digital, with cumulative profits exceeding $16.2 million over the past two months.