BlockBeats reported on Aug. 6 that Pro data, together with a post-event review by TradingBeats, formerly Hyperinsight, had flagged a priced-in signal in SNDK before the company’s earnings release.
On Aug. 4, as SNDK rose 8.4%, four early long holders had already cut a combined $11.111 million in positions. Over the same period, the long-short ratio among million-dollar addresses dropped to 0.75:1 by address count and 0.72:1 by capital size. The largest short kept adding exposure, and the 24-hour cumulative funding rate turned sharply negative.
That signal was later reinforced by wallet activity ahead of the earnings announcement. Address 0x0ad took profit and only showed willingness to re-enter 12.2% below the then-current market price. Address 0x0c4 sold its long position and flipped short with a $4.79 million trade.
In the 24 hours leading up to the earnings release, net long exposure among million-dollar positions fell by $3.945 million, while net short exposure increased by $21.923 million.
Trader who exited before earnings bought back after the decline
BlockBeats said one tracked trader, described as a “perfect storage winner,” had taken profit on SNDK before earnings and planned to wait for a cheaper re-entry. That lower price arrived after the post-earnings move.
Yesterday, the address sold 3,890.8 SNDK at an average price of about $1,390, locking in roughly $401,000 in profit and capturing about 8% of the price advance. It then placed buy orders worth $7.5 million below the market.
The trade appears to reflect a view that by the time SNDK reached $1,443.6 before earnings, the market had already priced in a large portion of the good news. The move after the report matched that view. SanDisk posted quarterly revenue of $8.965 billion, up 51% from the previous quarter, yet SNDK still fell about 11.8% in the hours around the earnings release and was last reported at $1,249.5.
Four buyback levels, but the position is currently under water
From last night into this morning, the address rebuilt the position in four tranches:
- about $1 million bought at $1,401;
- about $3 million bought at $1,301;
- about $1.007 million bought at $1,308.9;
- another roughly $1 million bought at $1,251.
As of publication, the address was holding a 1x full long in 4,588.3 SNDK, with the position valued at about $5.733 million. The weighted average entry price stood at $1,309.2, leaving an unrealized loss of about $274,000, or roughly -4.6%.
The address still had another $5 million buy order resting at $1,201. If that order is fully filled, the position would increase to 8,751.5 SNDK. The total buyback size would reach about $11.007 million, 46.8% above the earlier $7.5 million plan, and the blended entry price would be expected to fall to about $1,257.7.
11 major trades since June 25 were all profitable
Completed trade records show that since June 25, the address has finished 11 major trades in MU and SNDK, all of them profitable, for cumulative net gains of about $2.83 million. Across all 16 trades, 14 were profitable, with cumulative net profit reaching about $5.634 million.
BlockBeats added that earlier reporting had shown two whales had already repositioned before the earnings release, while profit-taking longs were unwilling to keep buying at the prevailing price.