A whale address that shorted the S&P 500 by nearly $150 million closed out 7,137 xyz:SP500 contracts, realizing a profit of $561,000.

CoinFeed reported on June 10th that, according to Lookonchain, a whale that previously established a short position of approximately $147.6 million in the S&P 500 using the synthetic asset xyz:SP500 has begun to take profits in batches. The address has closed 7,137 xyz:SP500 contracts, with a notional value of approximately $52.45 million, realizing a profit of $561,000; it still holds 12,865 contracts, with a notional value of approximately $94.07 million, and unrealized profits of approximately $1.49 million.