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withlove

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withlove

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Friday, 10/18/2013 5:00:46 PM

Friday, October 18, 2013 5:00:46 PM

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VIX Trader Pays $6.7 Million Betting Fear Gauge May Double

An investor paid $6.7 million for a trade that will pay off if the Chicago Board Options Exchange Volatility Index more than doubles by February.

The trader today bought 160,000 bullish contracts on the VIX expiring in February with a strike price of 24, while selling the same number of February 29 calls in a strategy known as a call spread, according to New York-based Trade Alert LLC. The trade profits if the volatility gauge rises above 24.42 from the current level around 13, data compiled by Bloomberg show. It has a maximum payoff if the VIX jumps 115 percent to 29.

http://www.bloomberg.com/news/2013-10-18/vix-trader-pays-6-7-million-betting-that-fear-gauge-may-double.html


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