On-Chain DELL Trader Cuts Nearly Half Its Position After Shares Rebound

The trader with the largest on-chain DELL long position cut nearly half its exposure after Dell shares rebounded in after-hours trading on Oct. 21, following Super Micro Computer's higher preliminary quarterly revenue and gross-margin expectations. The reduction totaled about $960,000, and the closed portion booked a loss of about $6,300, leaving the trader close to break-even on that part of the position. The trader still held 2,200 units of the DELL long, valued at about $1.08 million, with an average price of about $482. The remaining position used 4x isolated leverage and showed an unrealized profit of about $17,000.