I would say in this environment some people are making lots some people are losing lots. But relativly small players. then you have periods where like when the government suddenly changed the rules right. Or if the government decides to retroactively enforce market rules on short selling. when you have the top hedgefunds in the world getting killed, like an sac, citadel, etc its only the smaller players the sub 1 billioin, the sub 100 million making any money for their size. its kind of hard for 20 billlion doller hedgefund, making any money in this environment. LOL you can buy and sell 100 billion in etf in 1 second to lock in profits.
With people making six figures daily it makes one wonder what kind of equity they are trading with. Obviously it's leveraged one way or the other but still. Btw in Stock market wizards steve cohen mentions shorting over a million shares of a stock and it falling $10 the next day. Thats eight figures in one day. Wow. It takes me almost six months to make that kind of money!