Just $0.30 short: Contract $SKHYNIX hit a high of 999.70 last night, just shy of 1,000.
Seoul closed at 1.277 million won yesterday (+5.36%), equivalent to about $957 at the closing exchange rate. After the Korean market closed, US memory stocks picked up the baton, and the contract surged another 4%.
▪️ Current price: 983.7, about 2.7% above the Seoul close converted to dollars
▪️ Coins held: 435,000→331,000; long-to-short account ratio: 5.56→2.11
▪️ Funding rate: -0.027%; shorts are paying
My take: This rally wasn’t driven by piling on leverage. At the next Seoul open, we’ll find out within the first hour whether it makes up that 2.7% gap or the contract gives back its gains.
#SK海力士 #MemoryChips
Seoul closed at 1.277 million won yesterday (+5.36%), equivalent to about $957 at the closing exchange rate. After the Korean market closed, US memory stocks picked up the baton, and the contract surged another 4%.
▪️ Current price: 983.7, about 2.7% above the Seoul close converted to dollars
▪️ Coins held: 435,000→331,000; long-to-short account ratio: 5.56→2.11
▪️ Funding rate: -0.027%; shorts are paying
My take: This rally wasn’t driven by piling on leverage. At the next Seoul open, we’ll find out within the first hour whether it makes up that 2.7% gap or the contract gives back its gains.
#SK海力士 #MemoryChips