James Wynn's High-Leverage Short on S&P 500 Repeatedly Liquidated, Accumulated Losses Reach $22 Million

CoinFeed July 10 news, according to Onchain Lens report, trader James Wynn has been continuously adding to his short position on the S&P 500 index ($SP500) on Hyperliquid recently, despite multiple partial liquidations. About 15 days ago, he opened a 50x leveraged short position, during which the index rose from around 7,300 points to over 7,550 points, triggering liquidations multiple times. Currently, he holds 120.9 contracts of $SP500 short, with a notional size of about $913,000, unrealized loss of about $21,000, corresponding yield about -115%, and accumulated losses of about $22 million.