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meme: someone turned $13K of intel puts into $1.8M the day intel crashed
template: "original: A tiny cartoon frog in a cheap suit sits at a trad" (drawn for this story) · cooked 30 oct 16:17 utc
HYPERLIQUIDnews 10.0/10meme 6.0/10R-0098

someone turned $13K of intel puts into $1.8M the day intel crashed

Unusual Whales says someone bought $13K of $68 Intel puts the afternoon before earnings. They were 25% out of the money and cost $0.03 each. About 4,400 contracts traded, 90% at the ask. After earnings the puts hit $4.05, roughly a 135x gain, worth about $1.8M. Kobeissi Letter reported Intel extended losses to -30% on the day, on track for its biggest decline on record, worse than the dot-com bubble or the 1970s. The posts do not say who bought the puts or why. The insider-trading question is our read, not a fact in the posts. Still, it is the question everyone asks when one trade pays 135x on the worst day in a stock's history.

HOW TO CHECK IT YOURSELF
  1. Look at the Unusual Whales post for the $68 strike, the $0.03 entry and the $4.05 peak.
  2. Check Intel's price on the day against the Kobeissi Letter post on the record decline.
  3. Check options volume data for the $68 INTC puts to confirm about 4,400 contracts traded.
WHAT IT MEANS FOR YOU
One far out of the money bet paid off hugely on a record crash. Without the buyer's identity, big winning trades before earnings will keep raising the 'who knew' question while everyone else takes the losses.
receipt R-0098 · x: https://x.com/unusual_whales/status/2116201210084819425 https://x.com/KobeissiLetter/status/2116166412024868892 · 30 oct 16:17 utc · by data butcher