After the U.S. stock market opened, it went pretty much as I expected. Although there was a slight loss at $160 pre-market, I’m already starting to see profits now. I checked the comments section and noticed that many of you are still unclear about my short-selling strategy, so let me explain again. I’m shorting SK Hynix ADR not because I’m bearish on it. In fact, I don’t really care about the ADR’s performance. What I care about is the price difference between SK Hynix (in Korea) and SK Hynix ADR. For example, before today’s market close, SK’s price in Korea was 1,678,000 KRW, which corresponds to $121.19 USD. But right now, SKHY (the ADR) is priced at $159 USD. This means SK Hynix ADR is trading at about a 31.2% premium compared to its Korean counterpart. So my strategy is: if SK’s price drops during the day in Korea, there’s a high probability that the ADR will drop at night in the U.S. market. And because of the high premium, the ADR’s drop might be even larger than SK’s. In these situations, shorting the ADR has a high win rate. I’ve done this about 20-30 times so far, and only twice did the ADR rise while SK dropped. When that happens, I just cut my losses and move on. Overall, sticking to this strategy has been profitable for me. Today, I set a stop-loss (or take-profit) at $159, and if it hits $161, I’ll open a new position again. This is just in case it bounces back up while I’m not paying attention tonight. I also have an order set at $168—just testing the waters for now. If it doesn’t work out, I’ll adjust tomorrow morning. @Gate Crypto, U.S. stocks, Hong Kong stocks, Korean stocks, gold, CFDs, prediction markets—all in one platform for trading.