Last night, within the first hour of the U.S. stock market opening, Sandisk went through the people chasing longs and wiped them out.
In the past 24 hours, the contracts with the most liquidations—neither oil nor gold, but Sandisk: $2.51 million, which is $440,000 more than WTI crude oil.
The most concentrated moment is the first hour after the open—there were 1.05 million in liquidations, and 94% were long positions. In just two minutes, OKX liquidated two long orders back-to-back: one for $299,000 at 1706.8, and another for $232,000 at 1717.2.
Ironically, it’s the price. Sandisk is now $1,725, and over the past 24 hours it’s actually risen by 1.6%—those liquidation trigger prices from those two orders were already left behind below. The direction wasn’t wrong; they just fell to the volatility right at the open.
The stock futures jump hard around before and after the US market opens—if you’ve levered up too high, even if you’re right, it’s still useless. When you trade US stock contracts, what leverage do you usually use—how many times?
Check in real time: https://www.coinboss.com/tradfi-liquidations