A Whale's 30x Nasdaq 100 Short Shows $71,000 in Paper Gains

A whale's 30x short on Nasdaq 100-linked XYZ100 showed about $71,000 in unrealized gains after the contract fell following Georgia's Nov. 3 poll closing. The snapshot captured a leveraged trade around a closely watched U.S. election night.

The position was valued at roughly $3.03 million and was opened between 6:37 and 6:41 p.m. ET (23:37-23:41 UTC) at an average price of $28,283. Georgia's polls closed at 7 p.m. ET.

About half an hour after the position was completed, XYZ100 fell from $28,197 to $27,929, a decline of about 0.95%. In a later snapshot, the contract was at 27,622 points, 2.34% below the average entry price. The short showed a 70.16% return and about $71,000 in unrealized gains.

The whale also held an S&P 500 short valued at about $2.25 million, with roughly $26,500 in unrealized gains. The gains were unrealized on open positions, not from completed trades.