A trader placed US$200M bet on China assets and made a profit of US$100M overnight

OptionPlus
12-10

Last week, a mysterious trader who made waves with a bold $150 million options bet on China has turned a massive profit—how much exactly? Let’s break it down.

Starting on November 29, the trader spent three consecutive days buying YINN call options expiring in January 2026 with a strike price of $27. Over those three days, he/she purchased 98,200, 38,800, and 15,300 contracts respectively, totaling approximately 152,300 contracts.

Based on purchase prices between November 29 and December 3, their average cost was around $9.5-$9.8 per contract, amounting to an investment of about $150 million.

On December 2, another major trade was executed, this time in CHAU options expiring in May 2025 with a $15 strike price. The trader bought about 200,000 contracts at an average price of approximately $2.5, spending $50 million.

These trades represent a combined $200 million bet on bullish positions in Chinese leveraged ETFs. The size of these trades, especially in at-the-money options on leveraged ETFs, is highly unusual.

As of last trading day, the YINN and CHAU call options surged 47% and 42%, respectively, netting the trader a $100 million profit overnight.

What’s Next?

The critical question now is when the trader will close or roll over these positions.

Currently:

  • The open interest for the YINN January 2026 $27 call remains high about 180,000 contracts.

  • The open interest for the CHAU May 2025 $15 call is still at 210,000 contracts.

Since both positions are now deep in-the-money, rollovers may occur soon. Keep an eye on changes in open interest for clues.

Additionally, on Friday, another large trade in YINN options was noted:

  • A December 20 call option with a $33 strike price saw a trade of 41,900 contracts at $1 each. The trader made an overnight profit of $10 million from this position.

Stay alert for any changes in these positions—they could provide key insights into the next big move!

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • setia100
    12-10
    setia100
    TIGR sharing of this case is directly encouraging all cubs to treat this website like online gambling ❗😂
  • vchong8
    12-10
    vchong8
    It looks like insider trading for such a large speculatiive position if the rebound didn't happen
  • Marialina
    12-10
    Marialina
    That’s an impressive gamble! It's always thrilling to see such bold moves in the options market.
  • MyBaobao
    12-10
    MyBaobao
    V interesting and have a good strategy and eyesight
  • Mazen
    12-10
    Mazen
    things that make me realize my life is worthless
  • ourkopu
    12-10
    ourkopu
    Wow [LOL]
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