Even an isolated bet is significant if it is as large as $1.3 Billion, as puts have a finite life and will expire worthless.
To make such a big bet one would need supreme confidence that the S&P will tank in the near future. And Soros did not get rich by making bad bets.
No. Its a 4th quarter position. You’re making a mistake calling it a bet. The writer knows better. He may state its a bet but he has no idea.
The average volume is 122 million btw. the average price over 12 months has been 168.61. The average daily volume, right up until now, in dollars is $22.5 billion. Just to put that in perspective.