# Trader Takes Over 20% of Open Interest in Both Zhipu and MiniMax Contracts

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/41609
Published: 2026-10-27T09:02:35.000Z
Updated: 2026-10-27T09:02:35.000Z
Section: Investing

> The two positions were worth about $3.80 million at the snapshot, with a combined unrealized loss of roughly $54,300.

A single trader built about $3.85 million in long positions tied to Hong Kong-listed AI companies Zhipu and MiniMax on Oct. 27, taking more than 20% of open interest in each on-chain contract.

The ZHIPU position covered 40,000 contracts, with an entry value of about $2.83 million and an average entry price of $70.76. The MINIMAX position covered 45,000 contracts, with an entry value of about $1.02 million and an average entry price of $22.71. By contract count, they represented about 20.6% of ZHIPU open interest and 26.4% of MINIMAX open interest. Open interest counts contracts that remain open.

Those were the account’s only two positions, and both used 1x isolated leverage. At the snapshot, their combined value had fallen to about $3.80 million, leaving an unrealized loss of roughly $54,300.

The trader built the positions during a rebound in the companies’ Hong Kong shares. Zhipu rose as much as 13.3% during the session before its gain narrowed to about 8.9%. MiniMax was up nearly 6% at one point but later traded down about 1.1%.