One Day After Zero Hedge, FT "Unmasks" SoftBank As Call-Buying "Nasdaq Whale"
by Tyler Durden Sat, 09/05/2020
How much did SoftBank buy? According to the WSJ, which also moments ago confirmed our original reporting, SoftBank...
... spent roughly $4 billion buying call options tied to the underlying shares it bought, as well as on other names
... which due to the embedded leverage in options, is the equivalent of buying tens if not hundreds of billions of underlying stocks, thus sparking the massive upward move in the handful of tech stocks which then spilled over everywhere.
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