SVXY was trading at 120-130 at end of last year, now about 12. He likely made $90 for each share. That’s about $170m profit. HOLY CRAP. What a fucking trade.
In taking these type of positions, is someone like Elon musk actually involved in the decision making? Like he comes up with the idea to short svxy or his team of financial whizzes comes up with a proposal and plan and he just approves? I am guessing the latter but does anybody know for a fact?
Vix was at an all time low last year... doesn’t really take a genius to figure you should be long something that’s near an all time low, especially if you’re a contrarian like Theil.
Buying puts are different from shorting. If those were put options you have to multiply the 170m figure.
Makes me wonder if he's secretly the "50 cents" trader
Apparently we’ve learnt nothing from fetishizing rich people....
So? Who cares?
Found the only paid subscriber of gurufocus.ckm . Powerball is at 233M today, go buy one for your chance to feel the thrill!
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I think the Bloomberg article that reported this didn’t confirm if the puts had expired by the time volatility spiked. I had bought vix calls but they expired in December :( Cool to know though that I had made the same bet as peter thiel.