Mystery Option Buyer (spent almost $9 million buying VIX) Nets Fast $12 Million Gain on Stock Slide

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(Bloomberg) — The sense of calm in the US stock market was disrupted Tuesday as the S&P 500 Index plunged more than 2% and the VIX exploded higher. That’s rewarded a late-Friday options buyer with some $12 million in paper gains.

See also Market flipped from "rush to buy before rates go up" to "wait before buying until prices go down some more". Lower rates? Nice, but who wants to buy a falling knife?

The spike in volatility came as the S&P 500 index was dragged down by a selloff in technology stocks with AI giant Nvidia Corp.’s market capitalization dropping by the equivalent of Chevron Corp.

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finance.yahoo.com/news/mystery-option-buyer-nets-fast-204650077.html

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