Leopold is back at it. The hedge fund Situational Awareness, which blew up in July, is degenerate gambling big again
Yesterday, September 17, someone (Wall Street is pointing fingers at the usual suspect) paid $100M in premium on call options expiring October 2: Micron 1M shares at strike $1000, premium $44M. Sandisk 420k shares at strike $1600, premium $41M. Intel 2M shares at strike $115, premium $7.3M. MRVL 350k shares at strike $250, premium $3.85M.
So basically $100M built a $2B long.
Because these options expire soon, in 15 days, the breakeven bar is high. He only profits if by the evening of October 2 Micron is at $1044 or above, Sandisk at $1697, Intel at $118.65, MRVL at $261.
Below those prices the premium goes straight into the stands, to Ken Griffin at Citadel.
Micron happens to report earnings in late September, and the guy behind this trade thinks that's what pumps the whole sector.
People on Twitter are asking, if the fund lost $35B in July, how do you explain the urge to torch another $100M on options in 15 days if it fails again? #AI $BTC
Yesterday, September 17, someone (Wall Street is pointing fingers at the usual suspect) paid $100M in premium on call options expiring October 2: Micron 1M shares at strike $1000, premium $44M. Sandisk 420k shares at strike $1600, premium $41M. Intel 2M shares at strike $115, premium $7.3M. MRVL 350k shares at strike $250, premium $3.85M.
So basically $100M built a $2B long.
Because these options expire soon, in 15 days, the breakeven bar is high. He only profits if by the evening of October 2 Micron is at $1044 or above, Sandisk at $1697, Intel at $118.65, MRVL at $261.
Below those prices the premium goes straight into the stands, to Ken Griffin at Citadel.
Micron happens to report earnings in late September, and the guy behind this trade thinks that's what pumps the whole sector.
People on Twitter are asking, if the fund lost $35B in July, how do you explain the urge to torch another $100M on options in 15 days if it fails again? #AI $BTC
