Storage Contracts Generate 46% of a Whale’s Unrealized Short Gains

An account beginning 0x0242 held about $133 million in short positions in its latest snapshot, with five storage-related contracts responsible for 46% of its unrealized short gains.

The latest snapshot follows an earlier view of the account’s 36-position short book. The latest count is 35. The 46% figure refers to the storage contracts’ share of gains on short positions, rather than their share of the account’s total short exposure.

Storage-related contracts made up about 35% of unrealized short gains in the prior snapshot. Between snapshots, the account added about $6.83 million in short exposure to Micron and SanDisk. Their combined unrealized gains rose to about $4.22 million from $2.86 million.

The five contracts also include positions tied to Hynix Korean shares, a DRAM index and ChangXin. Together, the positions showed about $6.52 million in unrealized gains.

SanDisk was the account’s most profitable short, with about $3.51 million in unrealized gains. The position was valued at about $16.79 million, with an average entry price of $1,224.80, and its gains exceeded those on the Intel short.

The Micron short was valued at about $9.09 million, with an average entry price of $839.54 and about $710,000 in unrealized gains. Intel’s short showed about $3.28 million in gains. Google’s fell to about $1.03 million from $2.11 million, while the account continued to hold a Google short valued at about $19.99 million.

Across all 35 short positions, unrealized gains were about $14.14 million. The account also held about $8.52 million in long positions, bringing net unrealized gains across its open positions to about $14.45 million, close to about $14.58 million in the prior snapshot.

Over the past week, the account’s equity rose about 70.4%, from roughly $20.02 million to $34.11 million. Its net gains for the period were about $14.09 million, including realized gains and changes in position value.