PLTR Surges Nearly 50% in Weekly Rebound, Forcing Big Short to Cover; Acknowledging a $23.6 Million Loss, the Bearish Trader Shifts to a Long Position

BlockBeats News, August 12, according to TradingBeats (formerly Hyperinsight) monitoring, PLTR has surged from a low of $119.71 in the past week to a high of $179.42, with a maximum increase of about 49.9%, and is now trading at $172.39. After the earnings report, the strong uptrend not only increased trading volume and open interest, but also a whale who had just opened a $23.6 million short position quickly abandoned the reversal trade, switched to a long position immediately after closing the short position within 1 second.

In the past 24 hours, the number of open PLTR contracts has increased by about 278.7%. The open interest (OI) value has risen from about $10.88 million to $41.05 million, an increase of about $30.17 million or approximately 277%; with a trading volume of about $93.75 million during the same period.

This address holds the largest new position during the same period. As of the time of writing, it has opened a 92,400 PLTR leveraged long position at 10 times leverage, with a position value of approximately $15.924 million, an average entry price of $175.25, and the single address already accounts for approximately 38.8% of the total open interest in the PLTR market. It is currently at an unrealized loss of about $264,000, with a return rate of approximately -16.3%, a liquidation price of $165.99, which is about 3.7% away from the current price.

This whale has previously chased rallies and shorted sell-offs in multiple targets, engaged in biased trading to the right, often opening positions with extremely narrow liquidation margins. However, due to multiple key reversals, they often stop out before a major retracement, with a historical profit of up to $17.7 million.