Whale Exits SK Hynix Arbitrage Positions 17 Hours Before Earnings Release

Address 0x434 closed SKHX short and SKHY long trades for $442,700 profit ahead of earnings, as the ADR premium narrowed to 28.9% on Hyperliquid.

Woofun AI reports that wallet address 0x434 liquidated a mixed portfolio involving SKHX shorts and SKHY longs approximately 17 hours prior to SK Hynix’s scheduled earnings announcement. The entity sold 20,000 SKHY contracts at an average price of $137.6, incurring a loss of roughly $133,000, while simultaneously covering 4,500 SKHX shorts at $1,071.1 to secure a profit of approximately $576,000. This maneuver yielded a net gain of $442,700, exploiting a widening price gap where the implied ADR premium shifted from 20.4% to 28.5%. The position was not a perfect hedge, with long exposure covering only 44.4% of the short side, meaning part of the return derived from the decline in Korean stock-linked contracts. At the time of reporting, SKHX traded at $1,069.5 on Hyperliquid, while SKHY stood at $137.91, reflecting a 28.9% premium that had contracted by 4 percentage points from the previous day.