HOOD Perpetuals Fall 8.66% After Earnings; Whale Short Reaches $3.58M
HOOD perpetuals fell 8.66% on Hyperliquid after Robinhood reported record third-quarter revenue that still came in slightly below market expectations. Diluted earnings per share also missed forecasts. The contract price slid from about $95.71 before the earnings release to $87.42. One whale added to a short position, bringing it to 40,927.344 contracts valued at about $3.58 million, with an average entry price of $89.35 and unrealized profit of roughly $78,000. The HOOD perpetuals move reflects bearish sentiment toward Robinhood shares following the results. Robinhood’s prediction-market revenue rose to $173 million, up more than sixfold year over year. Crypto trading revenue increased 20% from the previous quarter to $120 million, but remained 55% lower year over year.
Bearish
The immediate signal is bearish for HOOD-linked trading: the perpetual contract dropped 8.66% after Robinhood’s earnings missed expectations, while a large trader increased a short position to about $3.58 million. Such post-earnings moves can prompt momentum traders to sell or open shorts, potentially adding short-term volatility. However, the reported whale position is a single trade and does not establish broad market positioning; rapid price declines can also lead to short covering or a rebound if buyers view the results as already priced in. Robinhood’s sharply higher prediction-market revenue and a 20% quarterly recovery in crypto trading revenue offer some positive operating context, although crypto revenue remained down 55% year over year. The event is therefore bearish for HOOD in the near term, but its implications for the wider crypto market are limited. Longer-term direction will depend more on Robinhood’s earnings trajectory, crypto activity, and whether revenue growth can meet expectations than on this short position alone.