MiniMax shares extended losses on Sept. 15, falling more than 7% intraday, according to Bitget market data. The stock was quoted at HK$234.2, marking a cumulative decline of 82.4% from its March peak of HK$1,330 this year. The move has pushed leveraged long positions tied to the contract deeper under pressure.
TradingBeats said the top 10 long positions in the contract on tradex.xyz have all moved into loss territory. Among them, the largest long belongs to Selini Capital, which is holding a position valued at $778,000. That trade is currently showing an unrealized loss of $116,000. Its liquidation price stands at $23.96, while the current price is $29.875.
The figures point to mounting stress on long-side positioning as the underlying stock continues to weaken during the session.
MiniMax shares fell more than 7% intraday on Sept. 15 and were quoted at HK$234.2, according to Bitget market data. From this year’s March peak of HK$1,330, the stock has now dropped 82.4%.
TradingBeats said the top 10 long positions in the contract on tradex.xyz have all entered loss territory.
The largest long is held by Selini Capital, with a position valued at $778,000. The trade is currently showing an unrealized loss of $116,000. Its liquidation price is $23.96, versus a current price of $29.875.
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