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Started By
Message
re: Big Short Investor Bets Against S&P
Posted on 8/16/23 at 3:07 pm to SlidellCajun
Posted on 8/16/23 at 3:07 pm to SlidellCajun
quote:
Important to note that the article says he is bettering on a major downturn in the market yet the put options he bought don’t indicate that. The article doesn’t say if he’s betting on a short term, intermediate or long term drop. When do the outs expire?!
Such an obvious question yet the article leaves that out.
Pretty safe to say they are LEAPS puts.
0
Posted on 8/16/23 at 3:28 pm to LSURussian
quote:
I miss Hussss…
Husssss is alive and WELL my friend
How are YOU, friend?
I’m sure going to miss the LSU / Auburn rivalry after this season!!!!!
You?
This post was edited on 8/16/23 at 3:34 pm
Posted on 8/16/23 at 3:34 pm to TDTOM
Posted on 8/16/23 at 3:44 pm to Hussss
Speaking of shorting the market, these worked pretty well today;
SQQQ-inverse NASDAQ
BERZ-inverse FANG
YANG-inverse China
Inverse ETFs work very well for a down trending market if one doesn't want to get into options.
SQQQ-inverse NASDAQ
BERZ-inverse FANG
YANG-inverse China
Inverse ETFs work very well for a down trending market if one doesn't want to get into options.
This post was edited on 8/16/23 at 3:46 pm
Posted on 8/16/23 at 6:04 pm to Hussss
quote:Okay, I'm over it...
I miss Hussss…
Husssss is alive and WELL my friend
Posted on 8/16/23 at 7:24 pm to Aubie Spr96
Posted on 8/17/23 at 8:44 am to SlidellCajun
quote:
Important to note that the article says he is betting on a major downturn in the market yet the put options he bought don’t indicate that. The article doesn’t say if he’s betting on a short term, intermediate or long term drop. When do the puts expire?!
Such an obvious question yet the article leaves that out.
Yes, you hit the big nail on the head.
This hyperbolic and rather misleading article doesn’t mention the strikes or the expiration date(s). Obviously he’s taken bearish positions. And athough the article does mention the combined premium paid, it mostly highlights the notional value of the option underlyings (to get that big WOWZER $1.6 billion number)… not the strikes where he bought or the days to expiration (which would say whether he was making a long term bet or this was just a short term trade… or whether he was just hedging existing open positions while IV was relatively low).
Either foolishly or on purpose, the article severely inflates the magnitude of his position. Just to show how ridiculous this is, yesterday (using this article’s notional methodology), I day traded over $40 million in SPX options - except that I really didn’t. I wish that I could make a $40 million day trade!
That would have just been the gross notional value of the puts that I sold throughout the day, based on the SPX strikes where I sold. And mine would have been considered a bullish trade… except that I wasn’t truly bullish on the market. So… what would my trades have told you about my sentiment on the equity markets? Not a thing. 
Posted on 8/17/23 at 6:52 pm to Aubie Spr96
quote:
The founder of Scion Asset Management bought put options against $739 million worth of shares in the popular Invesco QQQ Trust ETF
frick I have a good amount of stock in this....
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