The address had previously made about $5.293 million from long-short trades and may add roughly $7 million more if SK Hynix drops to $1,400-$1,550, PANews reported, citing compiled data from Ai Yi.
A trading address tied to the U.S. stock market rotated out of earlier bearish bets and into semiconductor longs, opening about $8.38 million in Micron Technology (MU) and about $1.99 million in SK Hynix (SKHX) after closing short positions in SNDK, INTC and BTC early on July 3. The address had previously generated about $5.293 million through long-short trades, according to PANews, which cited compiled data from “Ai Yi.” The latest move points to a shift from short exposure to a more directional bet on chip stocks, with plans to deploy about $7 million more if SK Hynix falls to $1,400-$1,550.