What do you think about that??

I was reading the book Flash Crash: A Trading Savant, a Global Manhunt and the Most Mysterious Market Crash in History by Liam Vaughan, ( it's a fascinating story about NAV SARAO ) and I was wondering if this text is real because it says NAV had a 200 fdax position, equal to a $15million, but at that time ( january 2008) fdax was trading between 7400-8000 points. So a 200 position would be $37-40million.

What do you think? I know it's a silly question, but maybe the author was confused and nav shorted 100 rather than 200.

Thanks

 

You need to look at the margin requirements, not at the notional.

 

Interesting how Nav being a scalper by day on the ES, was holding up to 200 DAX contracts overnight - dang, he had to have been using a hard stop loss.

 

Read the book. I did. He often flew "by the seat of his pants" so to speak.

 

and what do you think about the "massive" trade he did in the s&p500?? I mean, he built a position of +2000 lots and made almost $15million. What about the margin??

 

200 lots are a lot

 

pretty impressive

 

...l