Which delta (underlying, strike, expiration, etc)? The point was that selling calls on VIX was viewed by others as a stupid trade, and I thought it was a smart one. VIX was at 22. Historical standard deviation is 22. I thought it was a fade (vix=22+ not a bear market).
Market makers that bought these options from him also made money, so they are not so stupid after all. Thats the wierd thing about options - both buyer and sellers can make money or both of them could lose money.
Wouldn't call that a smart trade or a smart dude , no new here , a typical high win rate strategy , one miss and he will pay everything back and much more ...
VIX is now at 14.34 down from the absolute top (~22) which took place when this thread started. The dude nailed them.
I think everyone should just follow these large betters. I mean it doesn't hurt right? If the guy is willing to bet 18 million on something. You should be willing to throw out $100 in a bet. Just as long as you're not the worst one off, you're okay. Whoever this guy was, damn, 18 million banked.