FT Confirms Softbank Derivatives Positions
A few days ago on the 3rd Magnelibra Econemotions put a piece out highlighting the Zhedge article about the single options play causing Implied Vol to rise and a major gamma wave of buying driving equities to new highs, if you missed the note, you can read it here, MagEconemotions on Softbank Gammaplayer/comments
Well today brings us this Financial Times article highlighting what we already knew,
“SoftBank up $4bn on founder’s aggressive US stock options bet”
This position is at the directive of founder Masayoshi Son who notoriously lost some $70bn during the dot come crash. Must be nice to take such massive bets and try to overwhelm markets right.
Anyway here it the link to the FT article, FT on Softbank
Enjoy the Labor Day weekend everyone, and if you didn’t know, this is one of those great accomplishments of my fellow Chicagoan’s, when in 1894 employees of the Pullman Palace Car Company went on strike to protest wage cuts and the firing of union representatives. It wasn’t till a month later that Congress passed an act making Labor Day a legal holiday in the District of Columbia and the territories. On June 28, 1894, President Grover Cleveland signed it into law. (History.com)
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