Hyperliquid’s LITE and AAOI Perpetuals Rose as Open Interest Fell

Over the 24 hours ending at the market snapshot, Hyperliquid perpetual contracts tied to LITE and AAOI rose 9.53% and 9.91%, respectively, while open interest contracted after StoneX initiated Lumentum coverage. StoneX began covering Lumentum (LITE) on Oct. 26 with a Buy rating and a $1,200 price target. The firm cited Lumentum’s position in high-speed indium phosphide lasers, optical transceivers and optical switching. It also pointed to management’s view that capacity for AI-related optoelectronics was largely booked through early 2029. The rating was part of StoneX’s coverage of Lumentum . Both contracts briefly gained more than 10% intraday.