This address has a principal of $30 million and opens a $25 million semiconductor position, using 0.8x leverage to earn $10 million per month. But the DRAM short has barely just been opened when it’s already showing a floating loss of 2.4%. The average price has been moved from 64.74 to 64.84 and the position is still being held—while the liquidation line at 73.82 looks far away, under such high leverage it’s only a matter of minutes. Even a band-trading king can be right on the edge of getting flipped.

DRAM11.40%
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