BlockBeats News, August 18th, according to TradingBeats monitoring, as of the time of writing, SNDK was reported at $1717.2, rebounding by about 76.9% from its low of $970.74 on July 30th; meanwhile, MU and SKHX rebounded by 39.7% and 33.8%, respectively. SanDisk outperformed Micron by around 37.2 percentage points and outperformed SK Hynix by around 43.1 percentage points.

Looking at the open interest, SNDK's relative strength has not yet deteriorated. From yesterday to today, all three storage targets have seen a slight deleveraging, but SNDK's actual number of contracts has only decreased by about 0.5%, slightly lower than MU's 3.3% and SKHX's 1.0%. During the same period, SNDK's trading volume was nearly 2.9 times that of MU, the volume/oi ratio was about 3.0 times, higher than MU's 1.5 times and SKHX's 1.3 times, with trading focus still clearly on SNDK.

Large orders from the three display that SNDK, the strongest in price, is instead most reliant on short covering in subsequent buying orders.

Excluding near-end orders within 2% of the current price, in large fund addresses, SNDK buy orders total approximately $13.015 million, of which about $11.17 million is used for short covering, hedging, or profit-taking, accounting for 85.8%; truly used for new or increased long positions is only about $1.845 million, the lowest among the three.

Among all market orders, the $1530 to $1560 range is currently the most densely packed far-end buy zone for SNDK, with a cumulative total of about $6.655 million, of which approximately $2.303 million from short profit-taking; nearby, one short position has placed a breakeven closing order of around $2.734 million at $1562.1.

There are also shorts prepared to add to their positions on the upside of SNDK. The $1830 to $1860 range has a cumulative sell order of about $3.392 million, with an address starting with 0x0c4a currently holding about $9.016 million short on SNDK and continuing to place a non-reducing sell order of around $1.573 million at $1821.

In comparison, MU has buy orders for new and additional long positions totaling about $6.682 million, and SKHX has about $5.452 million. MU's buy orders are mainly concentrated in the $811 range and the $659 to $675 range for two pullback areas; SKHX already has at least $1.817 million from existing long positions continuing to add near the $1120 to $1150 range, only about 2% to 5% away from the current price, showing a stronger short-term acceptance nature.

The Funding Rate data indicates that despite the previous increase in SNDK, there was still significant short squeezing. Over the past 24 hours, its cumulative funding rate was approximately -0.0381%, while MU and SKHX were around +0.0036% and +0.0333%, respectively.