# Hyperliquid’s LITE and AAOI Perpetuals Rose as Open Interest Fell By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/41544 Published: 2026-10-27T03:20:48.000Z Updated: 2026-10-27T03:20:48.000Z Section: Investing > StoneX set a $1,200 target for Lumentum on Oct. 26. Open interest fell about 21.97% for LITE and 34.61% for AAOI after the rating. Over the 24 hours ending at the market snapshot, Hyperliquid perpetual contracts tied to LITE and AAOI rose 9.53% and 9.91%, respectively, while open interest contracted after StoneX initiated Lumentum coverage. StoneX began covering Lumentum (LITE) on Oct. 26 with a Buy rating and a $1,200 price target. The firm cited Lumentum’s position in high-speed indium phosphide lasers, optical transceivers and optical switching. It also pointed to management’s view that capacity for AI-related optoelectronics was largely booked through early 2029. The rating was part of [StoneX’s coverage of Lumentum](). Both contracts briefly gained more than 10% intraday. After the rating, LITE open interest fell 21.97% to about $5.83 million from about $7.47 million. AAOI open interest dropped 34.61% to about $3.65 million from about $5.58 million. Two large accounts took profit on combined LITE and AAOI long positions worth about $2.61 million. One account closed both positions. ## Links in this article - [StoneX’s coverage of Lumentum](https://www.tokenpost.com/news/investing/41095)