According to TradingBeats data cited by BlockBeats on Aug. 26, SKHX was trading at $1,240, up about 7.8% over the past 24 hours.
The trader labeled as “storage smart money,” who chased the rally and bought back into SKHX yesterday, is currently holding 35,600 long contracts worth about $44.205 million. The average entry price is $1,168.2, and the unrealized profit has climbed to roughly $2.559 million, an increase of another $1.191 million from the prior tracking update.
About 80 minutes before the U.S. stock market close this morning, the whale placed 100 reduce-only sell orders in a concentrated move, seeking to sell almost the entire position between $1,320 and $1,350. The weighted average listing price was about $1,335, putting the notional value at roughly $47.591 million. If all orders are filled, the gross profit on this round of longs would come to about $5.946 million.
Current order book data shows about $48.828 million in cumulative sell orders between $1,330 and $1,350. Roughly $32.006 million of that came from this whale, equal to about 65.5% of the sell wall in that price band. At the same time, all add-on buy orders previously left between $1,162.6 and $1,170 have been canceled, showing a shift in positioning from continuing to buy on pullbacks to concentrating on profit-taking into the rise.
The address had already realized about $1.952 million in profit from its previous SKHX trade. Including the current unrealized gain, its last two rounds of SKHX trading have produced about $4.511 million in combined profit.
An earlier update had said that after SKHX rebounded, the smart money trader gave up waiting for a pullback and chased the move by buying back about $43 million worth of exposure, returning to profit again.