There is a more complicated part to it that I haven’t wrapped my head around yet. I thought I bookmarked the tweet that explained it for further review but didn’t.
It is about how that trade effects the overall market on expiration.
Btw, Mr 50 cent has been around for awhile. people watch for the trades.
zero hedge claims this is 50 cent.
But there may be more than one
Guess whos back 50 cent VIX Man
Buyer 90,000 $VIX August $21 calls for 52 cents
and then the market dumped