Sandisk-Linked Contracts See $4.34 Million in One-Hour Liquidations

Sandisk-linked contracts generated $4.34 million in liquidations during a one-hour Nov. 9 snapshot, exceeding liquidations in Ether (ETH) contracts and highlighting the presence of stock-linked trades in the $25.41 million tally.

Across the contracts tracked in the snapshot, short positions accounted for $22.07 million in forced closures, while long positions accounted for $3.34 million. Contracts tied to SOXL appeared in two separate liquidation entries, at $2.53 million and $920,000.

The total spans stock-linked contracts and crypto-linked positions. A liquidation occurs when an exchange closes a leveraged position after losses consume the trader’s collateral. Short positions benefit from falling prices, while long positions benefit from rising prices. Most of the liquidations in this snapshot were in short positions.

Sandisk-linked contracts also appeared in an October liquidation episode, when they logged $19.09 million over 24 hours. The Nov. 9 snapshot covers one hour.