SanDisk (SNDK) was up 14.2% in premarket trading on July 22, closing the premarket session at $1,589.4, according to BlockBeats. The stock had fallen as low as $1,325.03 on July 17, marking a maximum drawdown of 43.7% from its high. Based on the latest closing price, it had rebounded 20.0% from that low, though it still remained 32.5% below the high. As of publication, SNDK was trading at $1,554.8 in premarket action.
A tracked whale started from flat and bought 22,910.2 SNDK
Hyperinsight said a whale it has previously tracked as a “big winner” in U.S. equities built a heavy position during the current rebound. The address went from flat to long at 13:29 and, by 16:50, had accumulated 22,910.2 SNDK through 5,380 trades at an average execution price of $1,548.2.
Including current resting orders, the trader’s plan is to build a position worth about $90 million. At the time of writing, the whale was holding the long with 6x isolated leverage. The position value was about $35.6116 million, the liquidation price was $1,357.4, and floating profit stood near $141,800.
Order book shows more SNDK bids and limited take-profit coverage
Hyperinsight listed the whale’s current SanDisk and Micron orders as follows:
- SanDisk buy orders: 22 orders between $1,520 and $1,546.4, totaling 35,312.2 shares and about $54.5709 million. If all are filled, the whale’s SNDK long would rise to about 58,222 shares, with total capital committed reaching about $90.04 million.
- SanDisk sell orders: 2 orders between $1,668.4 and $1,671.5, totaling 362.1 shares. That covers only about 1.6% of the current long position, suggesting limited take-profit protection.
- Micron sell orders: 45 orders between $996 and $1,018.7, totaling 9,374.218 shares and about $9.419 million. If filled, those orders would open a short position at higher levels.
Address has rotated across several semiconductor-related names
From the timing, the whale may also be positioning for a continued rebound in the storage segment and for expectations ahead of earnings on Aug. 5. Near-term catalysts cited in the report also include sampling for 10th-generation 3D NAND (BiCS10) and an investor day scheduled for Aug. 13.
Hyperinsight described the address as a swing-trading whale. It has mainly rotated across SanDisk, Micron, Western Digital, the DRAM index, Intel and SPCX. Realized gains have been concentrated in Intel, Micron and Western Digital, and cumulative profit over the past two months has exceeded $16.2 million.