IB employee makes $30m in Tesla options, quits.

1 hour 30? No thanks. So what did he do? Buy cheap option lottery tickets a while ago and then hold them for a long time while the price was skyrocketting?

 

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Makes one question what kind of information was used.

 

Hopefully he did not have access to booking trades or any back office activities. This headline is a compliance nightmare

 

Is there a Cliffs notes version?

 

It's not a news headline, just a guy talking to a friend who happened to work wherever he worked. The first 5 minutes shows nothing sensational or improper. The guy was interested in Tesla car and being early adopter, bought one of first Teslas in March of 2013. And indeed made great decisions buying TSLA options since 2011 when no one else cared. He also bought some bitcoins when it was less than $2...

 

File this under the: "He took a lot of risk and it worked" category.

 

https://en.wikipedia.org/wiki/Survivorship_bias

 

Here come the retards out of the woodwork saying how this guy stole their strategy and how all firms do it.