Addresses holding more than $1 million in SNDK positions showed a 0.75-to-1 long-short count ratio, while four early bulls together cut exposure by about $11.11 million.
SNDK positioning turned more defensive ahead of the company’s fiscal fourth-quarter and full-year earnings release scheduled for 4:30 a.m. Beijing time on Aug. 6. Among addresses with positions worth more than $1 million, the ratio of long holders to short holders stood at 0.75:1, while the value ratio was about 0.72:1, leaving short exposure larger by roughly $8.517 million. Four early long traders collectively made a net reduction of 8,321.8 SNDK on the day, equivalent to about $11.111 million at current prices. One address beginning with 0x1367 opened 6,000 long contracts last night and has already cut half of that position. Address 0x0ad9 reduced exposure by 1,935 contracts but still held long positions worth about $5.193 million. Address 0x364a fully closed a 1,700.1-contract long and booked about $173,000 in profit. Address 0xdb09 trimmed 1,686.8 contracts while retaining roughly $6.228 million in long exposure. At the same time, the largest current short seller, address 0xefe, continued to hold a 7,503.8-contract SNDK short valued at about $10.015 million, with an average entry price of $1,311.9, and after several trades during the day ended with a net increase of 214.1 short contracts.