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518 points bwfan123 | 1 comments | 06 Jul 25 14:03 UTC | HN request time: 0.452s | source

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walterbell ◴[06 Jul 25 20:17 UTC] No.44483691[source]▶

https://web.archive.org/web/20250519053752/https://www.bnnbl...

> Jane Street sued Millennium, Schadewald and Spottiswood in April [2024], claiming the two traders had taken an “immensely valuable” trading strategy with them. It later emerged at a court hearing that the strategy involved India options and had generated $1 billion in 2023 profits for Jane Street.

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Ntrails ◴[07 Jul 25 12:18 UTC] No.44489577[source]▶

>>44483691 #

I remain bemused that they described this as an "unintuitive strategy which required significant back testing etc".

As I read it they were just smashing underlyings to move the close price and profit from larger derivative positions... which is the most intuitive strategy I ever heard. There must be something more here right?

replies(1): >>44490385 #

1. __s ◴[07 Jul 25 13:52 UTC] No.44490385[source]▶

>>44489577 #

One thing to factor in is someone seeing you make this play & starting to buy up & sell high in morning shortly before you come in. So you need to factor in price points where you go through with this & where you don't

Also need to keep an eye on where you predict price is going naturally, don't want to be left fighting price uphill on wrong day

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Jane Street barred from Indian markets as regulator freezes $566M