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Maybe they’ve just put everything into those 5x short s&p500 ETFs
Not everything. But yeah, I used them to buffer damage my portfolio would have otherwise taken, and then made aggressive puts against highly volatile stocks like RDDT and DJT. Bought dumb sounding options for pennies, selling them for dollars.
I mean, if you were bearish in 2023 I couldn’t really blame you. But shorting is an expensive hobby.