Surprise Trader walks off with millions in profits from $ETRN call options

unusual_whales

@unusual_whales

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This trader turned $2 million into $20 million (no typo, ha!). May 24, 11:18 - 11:24am, a trader loads up $ETRN $8 Oct calls. May 27, debt deal passes, with a surprise pipeline for $ETRN. The contracts rallied +1000% This is why a Congressional trading ban will never work.

unusual_whales

@unusual_whales

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$ETRN gets ZERO options volume. It avgs ~$16k premium/day and he traded over +100,000 contracts that day alone, holding volume. You can see the huge aberration in volume in the attached image. The trader grabbed every contract he could grab, and quickly, in a six minute period

unusual_whales

@unusual_whales

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The contracts on an illiquid chain like this were filled at the mid at times, yet the trader has held his position. Being close to Congress has its benefits, with this trader turning two million dollar trade into a $20 million trade. Filters used: unusualwhales.com/live-options-f…