Can SK Hynix Fall Another 40%? A Certain Major Short Seller Still Considers the Current Price a "Midway Plunge"

BlockBeats News, August 7th, according to TradingBeats (formerly Hyperinsight) monitoring, SKHX is now trading at $1042.1. However, for the whale with address starting with 0x6bb, the current price still seems far from its predefined exit zone.

The address is currently shorting 6687 SKHX with 10x leverage, with a position value of approximately $6.969 million, an entry price of $1338.3, an unrealized profit of about $1.981 million, and a return of 221.3%.

Even though it has already made nearly $2 million in paper profits (a return of 220%), it still has 5897 orders, accounting for 88.2% of the current short position, set at $600 to $747.47, with a weighted take-profit price of $672.7.

This means that the highest take-profit price still needs to drop by another 28.3%, and the deepest level requires the stock price to fall by 42.4%. If all orders are executed, based on the current position cost, approximately $3.925 million in profit can be locked in.

Today, the whale did not reduce its position during the rebound. Instead, it continued to add short positions with about 10 TWAP trades at around $1004.6, adding 790 positions, equivalent to about $794,000. For over a month, it has been rolling its position by "selling on the drop, shorting on the rebound."

The address initiated substantial shorting starting from around $1892.3 on June 22nd, and the average entry cost has now rolled down to $1338.3. The historical accumulated profit is about $7.887 million, with a profit of approximately $3.63 million in the last 30 days, and currently about 99.4% of the total contract exposure is still concentrated on SKHX.

What is most worth tracking in the future is whether the take-profit orders at $600 to $747 will start to move up.