Trader Turns $2.26M Loss into $6.44M Profit on SK Hynix Earnings Spike

A trader using 3x leveraged longs on SK Hynix's (SKHX) Hyperliquid perpetual contract turned a $2.26 million loss into a $6.44 million profit in just a few days.

The trader, identified by Lookonchain as wallet 0xC8b5, opened a position of 37,229 units on July 29, the day before SK Hynix's record Q2 operating profit announcement.

The stock initially whipsawed lower due to lingering doubts about AI infrastructure spending and South Korea's broader market selloff. However, strong earnings from Amazon and Microsoft sparked a broader AI-stock rally on July 31, with SK Hynix shares surging as much as 28.59%.

The trader initially faced an unrealized loss of $2.26 million but recovered its losses when the stock price rebounded.