BlockBeats reported on Aug. 27, citing monitoring data from TradingBeats, formerly Hyperinsight, that a whale address beginning with 0xaa53 is currently holding a 10x isolated long in 1,900 LITE contracts. The position is valued at about $1.836 million, with an average entry price of $819.9.
As LITE rose to $966.4, the position’s unrealized profit expanded to about $278,000, putting margin return at 178.6%.
Most of the gain came from a buy two days earlier
According to the monitoring data, most of the profit in this round came from a low-level add-on made on the evening of Aug. 24. As LITE dropped toward $800, the whale bought 1,600 contracts in a concentrated move. The turnover was about $1.305 million, and the weighted average buy price was $815.4.
Within that batch, the final 199.2 contracts were filled at $791.1, just about 0.7% above the intraday low of $785.4. That Aug. 24 addition is now showing about $242,000 in unrealized profit and accounts for 86.8% of the total paper gain on the current position.
At the current market price, LITE is up about 18.5% from the average price of that add-on and about 22.2% above the final fill at $791.1.
How the current position was built
The whale first tested the trade on Aug. 22 by opening an initial 300-contract long at an average price of $844.4. The second round of buying represents 84.2% of the current position size and brought the blended entry price down to $819.9.
At the time of the report, LITE was quoted at $966.4, up about 10.0% over the past 24 hours. Trading volume stood at about $4.781 million, while open interest was about $10.552 million. The whale’s liquidation price was $776.9.
BlockBeats said this was already the whale’s sixth round of opening a LITE position. The same trader had previously built a large long around 40 hours before the company’s Aug. 10 earnings report.