A storage-sector trader tracked by TradingBeats, formerly Hyperinsight, is preparing to cut roughly $15.292 million in positions after building a long book now valued at about $13.972 million, according to an Aug. 11 update cited by BlockBeats. The address had previously rotated repeatedly among Micron, SanDisk, SK Hynix and KIOXIA. It has now placed six reduce-only sell orders above current holdings, with exit plans for SKHX, SNDK and KIOXIA largely laid out.
Exit orders are in place for three existing positions
For SK Hynix (SKHX), the address currently holds 6,653.8 units worth about $6.69 million, with an average entry price of $1,053.12. It has placed sell orders for 6,445.1 units between $1,062 and $1,165, representing about $7.223 million and covering 96.9% of the existing position.
For SanDisk (SNDK), the address holds 5,490.6 units worth about $6.798 million, with an average entry price of $1,276.69. It has listed 5,389.2 units for reduction between $1,280 and $1,440, worth about $7.51 million and covering 98.2% of the current holding.
For KIOXIA, the position stands at 1,666.7 units worth about $484,000, with an average entry price of $304.03. The address has listed the full 1,666.7 units at $335 and plans to exit the entire position.
Combined unrealized loss is about $552,000
The three storage longs are currently showing a combined unrealized loss of about $552,000. The SNDK position is down about $212,000, the SKHX position is down about $318,000, and the KIOXIA position is down about $22,000.
Most of the planned reduction prices sit near or above cost. TradingBeats said the address currently appears more inclined to step aside after a rebound allows it to exit around breakeven.
Roughly $4 million in lower bids remains in place
The address has not fully walked away from the storage trade. It has also parked about $4 million in buy orders at lower levels: about $2.5 million of MU at $811, about $1 million of additional SKHX at $950, and about $500,000 of additional KIOXIA at $285.
If all of those lower bids are filled, the trader would rebuild an MU long of 3,082.6 units, increase the SKHX position to 7,706.4 units, and nearly double the KIOXIA holding.
Twenty trades completed since July
Since July, the address has completed 20 trades, with 19 profitable and one losing trade, for a 95% win rate. In the storage segment, it has generated about $4.6 million in net profit. Across nine Micron and SanDisk trades, it has remained undefeated.
An earlier update had described the trader as a newly emerged "king of storage" and disclosed the next planned entry levels across four major storage names.