TradingBeats monitoring cited by BlockBeats showed the SOXL contract on Hyperliquid at $91.877, up about 11.10% in 24 hours, with trading volume of approximately $105 million. Notional open interest fell from $39.27 million to $28.15 million, a reduction of about 28.29%, while open interest quantity fell about 35.28%.
Short covering drives position decline
Two large accounts reportedly net covered about $7.2229 million in SOXL short positions, reducing short quantity from roughly 103,500 units to 25,000 units and realizing about $417,300 in trading profits. The prices, positions and profits are attributed monitoring observations and are time-sensitive.
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