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518 points bwfan123 | 1 comments | | HN request time: 0.206s | source
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walterbell ◴[] 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 ◴[] No.44489577[source]
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?

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1. __s ◴[] No.44490385[source]
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