Whale shorts ChangXin Tech with 40x leverage, aiming to close position at $2–$4.50

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Whale activity in the Chinese tech sector has drawn attention as a major player has shorted ChangXin Technology (CXMT) with 40x leverage. The whale has established an $18 million short position at an average entry price of $6.40. Whale movement suggests a target range of $2–$4.50 to close the trade. A pre-market futures spike to $7 has triggered a $1.4 million floating loss on the position.

Odaily Planet Daily reports, according to Yujin monitoring, a whale has been continuously shorting Changxin Technology (CXMT) since yesterday, with the current short position reaching approximately $18 million at an average opening price of about $6.40 (approximately ¥43).

This address previously set a closing order for this short position at a price range of $2 to $4.5 (approximately ¥13 to ¥30). Prior to market open, the price of ChangXin Technology's contract rose to $7, resulting in a current unrealized loss of approximately $1.4 million for this whale.

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