Four addresses that previously held a combined $4.215 million in SKHX longs and $3.169 million in shorts, for a net long exposure of about $1.046 million, have now shifted fully to the short side, according to Odaily.
In total, their positions moved 13,035.52 contracts toward shorts, worth about $15.833 million at the current price. The four addresses now hold roughly $14.775 million in combined SKHX short positions.
How the four addresses changed their positions
One address was nearly flat on Friday and began building short positions on Saturday. Its current short exposure is about $4.615 million.
Another address was still holding 2,309.47 long contracts on Friday. This morning, it closed those longs and reversed into a short position, taking an estimated loss of about $116,000 during the flip.
A third address switched from 1,200 long contracts to 1,800 short contracts. Its current short position is worth about $2.186 million.
The fourth address had already opened a short position on Friday and continued to add to it. Its current short exposure stands at about $6.581 million.
Price move and unrealized loss
SKHX closed at $1,200.9 on Friday and was last quoted at $1,214.6, up about 1.1% since the weekend began. The weighted average cost of the four addresses’ existing short positions is about $1,174.54. At the current price, the combined floating loss is roughly $487,000.
Open interest and long-short split
SKHX nominal open interest fell from about $328.9 million on Friday to roughly $315 million, a decline of nearly 4%.
Among the current 66 SKHX positions worth at least $1 million, 35 are long and 31 are short, putting the address-based long-short ratio at 1.13. By notional value, the long-short ratio is 0.71, with net short exposure at about $36.755 million. The four addresses account for about 11.7% of those large short positions.