SK Hynix Whale Maintains Massive Short Position Despite 220% Profit

Huo Xing Finance reports that on August 7, according to TradingBeats (formerly Hyperinsight), SKHX is currently trading at $1,042.1, but for the whale address starting with 0x6bb, this price still appears far below its predefined exit zone. This address currently holds a 10x full-position short of 6,687 SKHX contracts, with a position value of approximately $6.969 million, an average entry price of $1,338.3, and an unrealized profit of about $1.981 million, yielding a return rate of 221.3%. Despite having already secured nearly $2 million in paper profits (a 220% return), it has placed take-profit orders for 5,897 contracts—88.2% of its current short position—between $600 and $747.47, with a weighted take-profit price of $672.7. This implies that even the highest take-profit level requires a further 28.3% decline, while the deepest level requires a 42.4% price drop. If all orders are filled, the whale could lock in approximately $3.925 million in profits based on current position costs. The whale did not reduce its position during today’s rebound; instead, it added another 790 contracts—worth approximately $794,000—via 10 TWAP orders at around $1,004.6. Over the past month-plus, it has consistently rolled its position using a strategy of “covering shorts on dips and re-establishing shorts on rallies.” The address began establishing meaningful short positions around $1,892.3 on June 22, and its current weighted average cost has rolled down to $1,338.3; cumulative historical profits total approximately $7.887 million, with $3.63 million earned in the past 30 days. Currently, about 99.4% of its contract exposure remains concentrated in SKHX. The most critical development to monitor going forward will be whether its take-profit orders between $600 and $747 begin to move higher.