Where would you own it?

Market implied: $1.5967T
PreStocks mark: $1.5862T
Market vs mark: +0.66%
Capital’s median floor: $1.4T

Devnet demo. PreStocks exist only on mainnet, so the token escrowed here is a mock with the real mint’s 1 scaled-amount multiplier and a 1% transfer fee. The valuations above are live from the real PreStocks API.

Capital committed to buy

Market trades at $1.6T

$1.6T

$95.00

1 wallet holds 100%

$1.5T

$215.00

1 wallet holds 100%

$1.4T

$400.00

1 wallet holds 73%

$1.3T

$335.00

1 wallet holds 57%

$1.2T

$80.00

1 wallet holds 100%

$1.1T

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Capital committed at each level — not an estimate of what the company is worth. Premium and expiry both affect willingness independently of conviction, and a single wallet can dominate a band, so concentration is shown rather than hidden.

This curve and its median floor are open data: /api/curve/ANTHROPIC (JSON, free to use).

Capital on the book

Anthropic, over time. On offer is capital a holder could take right now; in force is protection already bought and still running.

On offerIn force

Matched to date

Every dollar of capital a holder has taken, cumulatively, for $5.08 of premium paid.

Open commitments

Hold ANTHROPIC? Take the other side →

$1.6T$95.00$4.17 premium21d to expiry2fJ5…3iih

$1.5T$215.00$8.40 premium36d to expiryCQFs…3pSc

$1.4T$110.00$3.77 premium21d to expiryAkUC…JhzY

$1.4T$290.00$9.52 premium21d to expiryFnSC…4Yjn

$1.3T$190.00$4.65 premium36d to expiry85RJ…PrJy

$1.3T$145.00$4.05 premium6d to expiry9n7c…o5Vr

$1.2T$80.00$1.57 premium6d to expiry7nK2…YmMu

Commit at a valuation

I would own around

Position size (USDC)Premium asked

Expiry

Reality check

Target valuation$1.3T

vs market−18.58%

vs mark−18.04%

Fixed strike$793.4843

PreStock if exercised0.12602644

USDC locked$100.00

Premium received$4.60

Premium / collateral+4.60%

Transfer fee, round trip+1.99%

The strike is fixed at creation. If ANTHROPIC’s valuation changes afterwards, this agreement does not change with it. The round-trip transfer fee is charged by the mint, not by Rung, and is not refunded.

I understand this is not a limit order. If a holder exercises, I receive ANTHROPIC and they receive my USDC.

Commit across a range

Put up a curve rather than a point: one amount, split across every valuation in a range, each rung its own commitment. Holders can take any rung or a slice of it.

FromToTotal USDCPremium, % of each rung

$1.4T$40.00$854.52/token

$1.3T$80.00$793.48/token

$1.2T$120.00$732.45/token

$1.1T$160.00$671.41/token

Premium if every rung is taken$16.00

I understand these are not limit orders. If a holder exercises any rung, I receive ANTHROPIC and they receive that rung’s USDC.

Collateral, honestly

Issuer holds permanent delegate (WV9PJN7XTmTLVwbutCLFxp8TyePee6Xq5mRq6Fti5Wc) and can move escrowed tokens out of the vault.
Issuer holds freeze authority (WV9PJN7XTmTLVwbutCLFxp8TyePee6Xq5mRq6Fti5Wc) and can freeze the vault account.
Issuer (WV9PJN7XTmTLVwbutCLFxp8TyePee6Xq5mRq6Fti5Wc) can attach a transfer hook at any time. If it does, Rung stops taking new positions and matched ones cannot settle until the program is upgraded.
1% transfer fee applies on entry and on payout.

Read the limitations →

Mint Pren1F…A8Lkhw ↗