The million-dollar bet that the S&P will skyrocket via ForexLive

Someone out there likes the US equity market (well, sorry, a lot of people like it … this person seems to like it more).

Via CNBC:

• In a single combination of purchases and sales of S&P 500 options that occurred at about 12:20 p.m. ET, this trader sold 6,000 December 1,850-strike puts, bought 12,000 October 2,050-strike calls and bought 18,000 December 2,125-strike calls
• This specific kind of trade is called a “ratio calendar risk reversal stupid” (seriously)
• By doing all this fancy footwork, the trader immediately took in a $2.7 million credit, but could make a lot more if the market continues to rise

More at the story, here

posted via ForexLive