๐ฆ $SKHX WHALE EXITS SPREAD TRADE AHEAD OF EARNINGS โ PREMIUM CONTRACTS! ๐ฐ
A whale running a "short SKHX, long SKHY" spread unwound the full position approximately 17 hours before SK Hynix Q2 earnings. The premium between the Korean stock and ADR contract narrowed from 33% to 28.9%, with the mapping contract falling 16.2% alongside. ๐
The trader realized a combined ~$442K profit, with the SKHX short contributing $576K in gains while the SKHY long lost $133K. Notably, the hedge was partial โ only 44.4% coverage โ meaning part of the profit came from the Korean contract's decline itself. ๐ก
This exit signals caution on further premium expansion or a precaution against pre-earnings spread compression. ๐ Are whales signaling that ADR premium convergence is the smarter bet before a binary earnings event? ๐ฌ
โ ๏ธ Not financial advice. Always manage your risk. ๐ก๏ธ
๐ท๏ธ $SKHX #SpreadTrade #WhaleActivity #EarningsPlay #Crypto
๐ฆ โก
A whale running a "short SKHX, long SKHY" spread unwound the full position approximately 17 hours before SK Hynix Q2 earnings. The premium between the Korean stock and ADR contract narrowed from 33% to 28.9%, with the mapping contract falling 16.2% alongside. ๐
The trader realized a combined ~$442K profit, with the SKHX short contributing $576K in gains while the SKHY long lost $133K. Notably, the hedge was partial โ only 44.4% coverage โ meaning part of the profit came from the Korean contract's decline itself. ๐ก
This exit signals caution on further premium expansion or a precaution against pre-earnings spread compression. ๐ Are whales signaling that ADR premium convergence is the smarter bet before a binary earnings event? ๐ฌ
โ ๏ธ Not financial advice. Always manage your risk. ๐ก๏ธ
๐ท๏ธ $SKHX #SpreadTrade #WhaleActivity #EarningsPlay #Crypto
๐ฆ โก