Coherent (COHR) this optical-communications chip stock saw a lot of turbulence in the derivatives market today. Over the past 24 hours, the entire network liquidated a total of $163,000, of which $129,000 were long positions—accounting for nearly 100%—while short positions were almost zero.
Breaking it down more clearly: of the $163,000, $157,000 was concentrated within a 34-minute window from 22:20 to 22:54 Beijing time. The price was hammered from 291 down to around 281, a drop of about 3.4%. The single largest liquidation, $98,000, occurred when it fell below 282; on Binance alone, that platform accounted for 94% of this stock’s total liquidation volume.
If we extend the view to 7 days, Coherent’s cumulative liquidations reached $2.06 million, with longs at $2.04 million and shorts only $47,000. Over 30 days, cumulative liquidations were $3.89 million, with longs making up 83%. The derivatives market for this stock is almost entirely dominated by long positions using leverage. In the short term, when a bearish candle drops, it’s basically a one-way forced close.
Live data: https://www.coinboss.com/tradfi-liquidations/COHR
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