๐จ $SKHX WHALE EXITS SPREAD TRADE WITH $442K PROFIT HOURS BEFORE EARNINGS ๐๐ฐ
Body:
A whale running a "short $SKHX , long
$SKHY " spread just closed both legs ahead of SK Hynix's Q2 earnings (due 8 AM Beijing time July 29). The move locked in ~$576K profit on the short leg while the long leg lost ~$133K โ netting $442,700. ๐ The ADR premium collapsed from ~33% to ~28.9% as both contracts dropped, but the whale timed the exit perfectly.
Whatโs telling? The long position only hedged ~44% of the short โ meaning part of the profit came from the Korean contract falling harder. ๐ฆ This isn't a full arb; it's a directional bet on premium compression. With earnings 17 hours away, the whale chose to de-risk rather than ride the volatility. ๐
๐ฌ Do you think the premium will snap wider after earnings, or is this the beginning of a full convergence? ๐
โ ๏ธ Not financial advice. Always manage your risk. ๐ก๏ธ
๐ท๏ธ
#SKHX #SKHY #Hyperliquid #EarningsTrade #Crypto ๐ ๐