Unrealized Loss of $1.5 Million: Top 1 Short Seller of CXMT Aims for "Halving Before Exiting"

According to Odaily, data from Hyperinsight shows that the "Halving Before Exiting" whale is currently shorting 2.6 million shares of CXMT, with a position value of approximately $17.914 million and an average entry price of $6.40. Its floating loss is about $1.252 million, and combined with accumulated funding fees of $281,000, the total book loss is approximately $1.533 million.

The whale is using 1x leverage, with a current return rate of -7.52% and a liquidation price of $17.75, maintaining a low-leverage, long-term short position often referred to as a "wealth management" strategy.

This morning, just before the A-share market opened for CXMT, the whale placed 300 "Reduce Only" buy orders in a concentrated manner, planning to take profits in batches within the $2 to $4.5 range. The total pending orders amounted to approximately 2.6 million shares, covering almost its entire position. During the order placement, CXMT's price was between $6.53 and $6.58.

Data from Hyperliquid shows that when the A-share market opened at 9:25, CXMT was quoted at approximately $7.108. When continuous trading began at 9:30, CXMT's corresponding opening price was $7.123.

The weighted average price of the above take-profit orders is approximately $3.211, which is 54.9% lower than the opening price at 9:30. Among them, the highest take-profit level of $4.5 is 36.8% lower than the opening price, and the deepest level of $2 is 71.9% lower. 64.2% of the take-profit orders are placed below $3.561, meaning over 60% of the position is waiting for CXMT's price to halve from its listing opening price before closing.