A certain whale went long on the S&P 500 mapping contract during the US stock market closure, with a position size exceeding $1.2 million.

Gate News reports that on March 10, Hyperinsight monitoring showed that over the past 4 hours, an address starting with 0x58c has been continuously building a long position on cash:USA500 (S&P 500 mapped contract, with the S&P 500 as the benchmark index for the US stock market) with 20x leverage during US stock market hours. The position size has reached $1 million, with an average price of $6,773. Additionally, this address also holds a long position on km:SMALL2000 (Russell 2000 mapped contract, representing the US small-cap stock index), approximately $220,000 in size, while also bullish on the US stock market and small caps.

Hyperliquid data shows that the contract is currently trading at $6,806, slightly above today’s S&P 500 closing price of about $6,795. During market close, when on-chain contract prices slightly declined, this address previously bought near $6,756.

Besides US stocks, the address has also set up an oil hedge portfolio: going long xyz:BRENTOIL (Brent crude oil, one of the international oil benchmark prices) while shorting km:USOIL (WTI crude oil, the US oil benchmark price), with a related position size of $1.4 million.