Friday’s closing price was 58.32, down 11% for the day. After hours, this leveraged semiconductor ETF failed to hold on, falling to 55.68.
The Binance $SOXL perpetual contract is now around 55.93, down about 13.6% over 24 hours, with roughly 4.75 billion U in trading volume—second only to BTC and ETH. The hourly candle at 10 a.m. Eastern fell from 57.71 to a low of 52.91, with about 1.11 billion U in volume. The ETF’s low for the day, 52.36, was set during that hour.
Reuters reported intraday Friday that the Philadelphia Semiconductor Index was down about 5.1% at one point, while AMD was down about 10.7% intraday. The day after Jensen Huang stepped down, chip stocks were still being repriced.
SOXL is a U.S.-listed leveraged ETF; this Binance contract only tracks its price. It does not hold the ETF and is not a tokenized stock. The cash market is closed for the weekend, so the price it’s being compared against right now is the after-hours 55.68, not the 58.32 closing price.
By account count, longs were about 62% on Friday morning and are now about 78%; position value has fallen from roughly 279 million U to about 197 million U. More people are buying the dip, but their positions are getting lighter.
I’m leaning bearish in the short term. U.S. stocks open Monday at 22:30 Beijing time. If the ETF can’t get back above 58.32 at the open, this weekend’s discount will become a new starting point.
#TradFi $SOXL $SOXS
The Binance $SOXL perpetual contract is now around 55.93, down about 13.6% over 24 hours, with roughly 4.75 billion U in trading volume—second only to BTC and ETH. The hourly candle at 10 a.m. Eastern fell from 57.71 to a low of 52.91, with about 1.11 billion U in volume. The ETF’s low for the day, 52.36, was set during that hour.
Reuters reported intraday Friday that the Philadelphia Semiconductor Index was down about 5.1% at one point, while AMD was down about 10.7% intraday. The day after Jensen Huang stepped down, chip stocks were still being repriced.
SOXL is a U.S.-listed leveraged ETF; this Binance contract only tracks its price. It does not hold the ETF and is not a tokenized stock. The cash market is closed for the weekend, so the price it’s being compared against right now is the after-hours 55.68, not the 58.32 closing price.
By account count, longs were about 62% on Friday morning and are now about 78%; position value has fallen from roughly 279 million U to about 197 million U. More people are buying the dip, but their positions are getting lighter.
I’m leaning bearish in the short term. U.S. stocks open Monday at 22:30 Beijing time. If the ETF can’t get back above 58.32 at the open, this weekend’s discount will become a new starting point.
#TradFi $SOXL $SOXS
