A small modification: Step 3) Use half the money buy DOTM Puts/Calls Step 5) If you're unlucky and lose your bet, then fly away to Panama and never return but live like a king there.
I'm implying that if you start trading with $3M you end up with $1M. Sometimes sarcasm doesn't translate clearly online.
Wow,you are really good... Now show us a relative mispricing and the trade you put on 100x plus... Waiting........
What do you mean? I just said the probability of being itm/otm is completely skewed wrong with options..so the whole options market is mis-priced. Pick any option and it is mis-priced.