A whale tracked by Hyperinsight exited a sizable long bet on GOOGL after Alphabet’s latest earnings release, ending the trade with a loss of about $737,000. The address, identified as 0xC8b, kept adding after the position was first flagged and built its exposure between 10 p.m. on July 22 and 4 a.m. the next day to 38,800 GOOGL contracts, worth roughly $13.56 million at an average entry of $349.28. That was about $2.90 million more than the size disclosed earlier.
After earnings were out, the trader started cutting exposure at 5:43 a.m. and had fully closed the long by around two hours before publication. The exit price was $330.29. Alphabet reported 24% year-over-year revenue growth in the second quarter, while Google Cloud revenue rose 82%. Still, the company raised its full-year capital expenditure guidance to $195 billion-$205 billion from $180 billion-$190 billion, and the stock turned lower in after-hours trading at one point.
As of publication, the GOOGL contract on Hyperliquid was trading at $334.27, down 4.34% on the day. Hyperinsight data also showed the whale had previously made about $1.72 million on an earlier MU long. Its only open position has now shifted back to MU: 24,600 contracts long with 3x leverage, valued at about $23.96 million, entered at $977.60, showing an unrealized loss of about $97,900 and a liquidation price of $354.91.
According to BlockBeats, Hyperinsight data showed that the GOOGL whale long identified as 0xC8b kept adding to the trade after it was first reported.
Between 10 p.m. on July 22 and 4 a.m. on July 23, the address built a cumulative long of 38,800 GOOGL contracts with a notional value of about $13.5578 million. Its blended entry price was $349.28. That position was roughly $2.8978 million larger than the size disclosed earlier.
After Alphabet’s earnings were released, the whale began reducing the position at 5:43 a.m. and had fully closed the long around two hours before publication. The position was exited at $330.29, locking in a loss of about $737,000.
Capital spending guidance weighed after the earnings release
Alphabet reported second-quarter revenue growth of 24% year over year, while Google Cloud revenue rose 82% from a year earlier. The company also lifted its full-year capital expenditure guidance to $195 billion-$205 billion, up from the prior $180 billion-$190 billion range. Its shares turned lower in after-hours trading at one point after the results.
As of publication, the GOOGL contract on Hyperliquid was quoted at $334.27, down 4.34% on the day.
The whale’s only remaining position is now MU
Hyperinsight data cited by BlockBeats showed that the same whale had previously made about $1.7178 million in profit on an earlier MU long.
The address has now shifted its only open position back to MU, holding a 3x leveraged long of 24,600 contracts. The position is worth about $23.9561 million, with an average entry price of $977.60. It is currently showing an unrealized loss of about $97,900, and the liquidation price is $354.91.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
