SanDisk short position stuck 240 points? Bai Yue breaks it down for you here!

Being stuck in a short isn't scary—what's scary is not knowing what's happening in the market. Right now, the entire storage sector is being repriced by AI demand.

News side: The bulls are still adding positions
Micron's earnings beat expectations, directly lifting the entire storage sector. SanDisk surged nearly 22% in a single day, hitting $2,310 intraday. Citigroup has already raised SanDisk's target price to $2,500, with the reasoning that NAND supply will remain tight until at least 2027. Apple is raising prices, Microsoft is also feeling the pressure—the pricing power for storage chips is no longer in buyers' hands. In this context, shorting against the trend will only lead to increasing pressure.

Technical side: Overbought is overbought, but the trend isn't broken
On the 1-hour chart, SNDK is moving along the upper Bollinger Band, with RSI entering the overbought zone. Theoretically, there is a need for a pullback. But note: it's a pullback, not a reversal.

Capital side: Institutions are snapping up shares, shorts are holding on
After Thursday's close, SanDisk rose over 20%, with trading volume reaching $33.4 billion. The signs of institutional entry are very clear. You're not up against retail traders here—these are big buyers pushing the stock with real money. A short position stuck 240 points—if your position is heavy, it's normal to feel uneasy.

Bai Yue's judgment: To get out, first adjust your expectations
Short-term overbought conditions may lead to a pullback, but don't expect a sharp crash. Hope for a deep decline to save you? Citigroup's $2,500 target price says no.

As for how to handle this specific position—whether to hold through the drawdown, cut losses in batches, or reverse and go long to hedge—it depends on each person's position size and risk tolerance. If you want a detailed breakdown, I'll guide you one-on-one.

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