ZKJ Review

The flash crash of ZKJ was very rapid. The time to open a short position on ZKJ was quite limited with no trading opportunities. However, after the sharp decline, there will definitely be a rebound from the oversold condition. I expect it to rebound by 50% to over 100%. Therefore, I shorted ZKJ when it was at 0.4.

Later in the night, when I saw ZKJ break the support level of 0.3, I thought it would continue to decline. I didn't expect ZKJ to surge above 0.3 later. 0.3 became the support level, which should be related to the spot market. The current spot price of ZKJ is still above 0.4. If the contract and spot prices tend to align, it may still be possible to short it.