The market seemed to have been pricing in a slowdown in China way before today's crash. They shouldn't be trading anywhere near 10x either forward or trailing earnings.
I remember around May/June when it was around $35, I swear I said to myself TWTR will keep on dropping...low and behold its at $24 now
Ive left so much money on the table this year....better than losing money I guess
Looks like someone bought 200,000 SPY $207 puts that expire at the end of the week. $22 per contract, which would be $440 million worth of puts.
Then looks like they shorted 100,000 of the same expiration $206 puts for 21.01 per contract. Then market went down some and they shorted another 100,000 $206 for $23.
So assuming they're paying no trading fees, they paid nothing for the trade and if it finished below $206 by the end of the week, they'll make $20 million.
Wow.
Someone teach me how to do this!!!Looks like someone bought 200,000 SPY $207 puts that expire at the end of the week. $22 per contract, which would be $440 million worth of puts.
Then looks like they shorted 100,000 of the same expiration $206 puts for 21.01 per contract. Then market went down some and they shorted another 100,000 $206 for $23.
So assuming they're paying no trading fees, they paid nothing for the trade and if it finished below $206 by the end of the week, they'll make $20 million.
Wow.
you say that now...