What I think is really interesting here is they say that "open close data confirms customer side" They say they know the customer sold the butterfly. I didn't know this information was available, that you could tell that the order was a customer and whether it was opening or closing.
I am still trying to understand the trade, how did they get $1.35cr fill for that size that late? If I put it on now I see about -0.50 mid Was it possible because the options had 10min left before close?
are the likes for that butterfly because it made a profit? what was the edge? what was happening in other related markets at the time?
I'm guessing the edge was in microstructure. He was able to trade one leg and covered with the others.