$XL2CSOPHYNIX(07709.HK)

**My suggestion: Sell 2,000 units on today's rebound, keep 1,000 units. Don't clear the position all at once, but also don't continue to hold a full position bearing 2x volatility.**

As of **09:31 CST**:

- 7709: **HK$39.50, +6.47%**, opening range HK$39.40–40.00

- SK Hynix: **₩1.656 million, +5.01%**

- However, Hynix surged to **₩1.701 million** in the early session before pulling back, indicating significant profit-taking at the open.

- The KOSPI is still up **3.06%**, so this isn't a failed rebound; there's no urgent need to exit completely for now.

- Southern Asset Management officially confirmed: the target leverage for 7709 today remains **2x**.

### Operational Framework

1. **HK$39.5–40.0: Sell 2,000 units**

This recovers approximately **HK$79,000–80,000**. Knowing that the cost basis for these 2,000 units was HK$36.18; calculated at 39.5, the return on this portion is approximately **9.18%**.

2. **Continue observing the remaining 1,000 units**

- If Hynix reclaims **₩1.68 million** and 7709 breaks above **HK$40.5**: Hold on, with initial targets at **HK$41.5–43**.

- If 7709 falls back below **HK$37.10**: Exit all remaining positions to prevent today's rebound profits from being given back.

### Why not clear the entire position?

Hynix has already reclaimed the area near yesterday's high of ₩1.63 million, and the market is seeing broad-based recovery. The rebound may have a second leg. Selling everything would mean missing out on this upside. However, its rapid pullback from ₩1.701 million suggests that **this looks more like a strong technical rebound rather than confirmation of a new trend.**

**In short: Instead of betting on whether it can double again, let's secure two-thirds of the profits and principal first, leaving one-third to participate in a potential second wave.** 7709 is suitable for fighting battles, not for standing guard.

I have recorded your current holding of **3,000 units** in the portfolio file; since I do not have records of the cost basis for the additional 1,000 units, I have not fabricated any overall portfolio P&L.

— Jason 🍎