Storage stocks rebound to outperform the Magnificent Seven as Nvidia contract notional positions increase

AT A GLANCE

According to the report, the short-term rebound in the storage stocks outperformed the Magnificent Seven by 5.88 percentage points, while Nvidia contract notional OI increased by approximately 150000000 USD。

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Storage stocks rebound, outperforming the Magnificent Seven by nearly 6 percentage points; Nvidia sees a large increase in positions

BlockBeats news,November 11, from the closing price after the sharp drop on November 5 U.S. Eastern Time through the close on November 10, the storage stocks Micron, Western Digital, Seagate and SanDisk rebounded by an average of 8.17%; over the same period, the Magnificent Seven rose by an average of 2.29%(for comparison, the Magnificent Seven portfolio ETF MAGS rose 2.54%over the same period). Storage stocks collectively outperformed the Magnificent Seven by approximately 5.88 percentage points.

Among individual stocks, Micron led the storage sector with a gain of 10.47%(Western Digital rose 8.06%, Seagate rose 7.52%, and SanDisk rose 6.64%). Among the Magnificent Seven, only Tesla, up 10.50%, performed similarly to Micron; the other all underperformed the storage stocks, with Meta rising 6.00%and Nvidia falling sharply against the trend by 7.00%.

The storage stocks' lead was primarily attributable to their surge on November 9(the storage stocks rose by an average of 8.02%, while the Magnificent Seven rose by an average of just 2.24%). Both groups subsequently declined on November 10(storage stocks fell 1.30%, while the Magnificent Seven fell 0.95%).

Using the closing price on November 4, before the sharp drop, as the baseline, the storage stocks are still down an average of 11.64%, while the Magnificent Seven are down 2.61%. Despite the sharp short-term rebound, the storage sector has yet to recover its earlier losses.

However, according to TradingBeats monitoring, from the U.S. market open on November 9 through publication, contracts on Micron, SanDisk and Hynix's South Korean shares rose approximately 6.4%、3.6%and 8.6%, respectively, while the contracts' combined notional OI fell against the trend from approximately 653000000 USD to 618000000 USD, a decrease of approximately 34600000 USD.

Among the Magnificent Seven, total contract notional OI increased by approximately 129000000 USD, with Nvidia accounting for almost all of the increase (NVDA contract OI increased by approximately 150000000 USD), while the other collectively decreased by approximately 21000000 USD.

Source: https://m.theblockbeats.info/flash/376689

Key points

According to BlockBeats, from the close on November 5 to the close on November 10, the storage stocks rebounded by an average of 8.17%, while the Magnificent Seven rose by an average of 2.29%, a difference of approximately 5.88 percentage points.
Over the same period, Micron rose 10.47%, Western Digital rose 8.06%, Seagate rose 7.52%, and SanDisk rose 6.64%; Tesla rose 10.50%, Meta rose 6.00%, and Nvidia fell 7.00%。
November 9, the storage stocks rose by an average of 8.02%, while the Magnificent Seven rose by an average of 2.24%；November 10, the groups fell by 1.30%and 0.95%。
Compared with the close on November 4, the storage stocks are still down an average of 11.64%, while the Magnificent Seven are down 2.61%。
According to TradingBeats monitoring cited in the article, from the U.S. market open on November 9 through publication, contracts on Micron, SanDisk and Hynix's South Korean shares rose approximately 6.4%、3.6%and 8.6%, respectively, while the contracts' combined notional OI fell from approximately 653000000 USD to 618000000 USD, a decrease of approximately 34600000 USD。
Over the same monitoring period, the Magnificent Seven's total contract notional OI increased by approximately 129000000 USD, including an increase of approximately 150000000 USD for Nvidia, while the other collectively decreased by approximately 21000000 USD。

AI-assisted interpretation

The following is analysis, separate from reported facts. Verify important claims independently.

The report compares different metrics: share price rebounds and contract notional OI. Measured from the closing price after the sharp drop, storage stocks rebounded more strongly than the Magnificent Seven, but they had not recovered their losses relative to the pre-drop baseline of November 4. Nvidia's share price fell during the closing-price comparison period in the report, while its contract notional OI increased during a different monitoring period. The should not be conflated as the same metric or as performance over the same period.

Why it matters to readers

The report also presents the magnitude of the short-term rebound, the preceding declines and changes in contract notional OI, reminding readers that rebound rankings alone do not establish whether earlier losses have been recovered, and that the headline's reference to an increase in positions should not be directly interpreted as bullish.

Pay close attention to the starting point of the comparison: measured from November 5, it is a rebound; measured from November 4, it remains a decline. Share prices must also be distinguished from contract notional OI. The original article does not specify whether the added positions were long or short.

Risks and unknowns

The original article did not provide market data or contract position details that can be independently verified; the data remain subject to verification.
The closing-price comparison and contract monitoring use different time periods, and the precise time of publication is unspecified.

Storage stocks rebound to outperform the Magnificent Seven as Nvidia contract notional positions increase

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