For the financially uninitiated, this means a billionaire financing expert is willing to bet 93% of all the money he has in stock markets that SHTF there, and soon.
$886mm is 2mm shares represented by options x SPY price. ($443 as of June 30, 2023).
they might be $300 strike price in December. Those trade for $.78. So his actual investment in those puts is $1.5mm, not the $886mm. 13F reporting quirk.
I believe options trader call them 'units'
They might be long on individual stocks as a hedge fund, but then they will buy cheap 25% out of the money puts [units] as an insurance policy in case of a major correction or downturn
For the financially uninitiated, this means a billionaire financing expert is willing to bet 93% of all the money he has in stock markets that SHTF there, and soon.
I'm seeing posts saying this is not what he did
https://twitter.com/fundiescapital/status/1691129332398206976?t=k7LIQAGpiDbVvLGJShclKA&s=19
$886mm is 2mm shares represented by options x SPY price. ($443 as of June 30, 2023).
they might be $300 strike price in December. Those trade for $.78. So his actual investment in those puts is $1.5mm, not the $886mm. 13F reporting quirk.
"notional" value is what that is called ;-)
I believe options trader call them 'units' They might be long on individual stocks as a hedge fund, but then they will buy cheap 25% out of the money puts [units] as an insurance policy in case of a major correction or downturn