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417 points mkmk | 2 comments | | HN request time: 1.077s | source
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mrb ◴[] No.37602079[source]
The screenshots demonstrate the trader purchased only $1,040 worth of options, not "$22,000" as claimed in the tweet. So the trader turned $1k into $475k.

See the first photo in the tweet, the top left chart (45-day volume on the SPLK 127 C 09/22/2023 options) shows a volume of about 260 options was bought. The second photo confirms a volume of 260 (see "volume" column, first row).

Options are for 100 shares. So 260 options times 100 shares times $0.04 equals $1,040. Meaning the insider trader turned $1,040 into $475,000.

(Edited my math - an option is $4 as it's for 100 shares - thanks pc86.)

replies(3): >>37602140 #>>37602885 #>>37612432 #
1. kolbe ◴[] No.37602885[source]
This is correct. I can independently verify that there are a total of 420 contracts of open interest, and this tweet is fake news.
replies(1): >>37603296 #
2. mrb ◴[] No.37603296[source]
Thank you. I am shocked everyone blindly trusts the "$22,000" amount without actually reading the screenshots.