Trader Opens $2.51 Million Anthropic Long During Post-Terms Drop

An address opened a $2.51 million long position in the xyz:ANT pre-IPO contract at an average price of $93.65 during a decline after Anthropic disclosed its IPO terms. The position later showed an unrealized gain of about $270,000.

xyz:ANT traded at $103.91, up 6.3% over 24 hours and about 33% above the proposed IPO range’s $78 upper end. That contract quote is separate from the offering’s proposed share price.

On Hyperliquid, the largest io:ANTH long was valued at about $14.92 million and used 5x isolated leverage. Its entry level implied a $1.98 trillion valuation for Anthropic. The position showed an unrealized loss of about $1.4 million, with a liquidation level corresponding to a $1.31 trillion implied valuation.

The two contracts recorded about $248 million in combined 24-hour turnover, with about $147 million in notional open interest. Anthropic’s proposed IPO covers 825 million shares at $70 to $78 each, alongside a planned $26 billion private placement by seven companies at the final IPO price.