Trading Evolution

Markets are never wrong - opinions often are

Trader loses $58 million in two weeks trading short-dated market index options

In January 2015, the Master Fund collapsed after Li moved virtually the entire portfolio into long, short-dated, market index options, nearly all of which were pegged to the same expiration date of January 17, 2015.  When the market moved against those positions on January 16, 2015, the Master Fund was left with approximately $501,253 in cash, having started January 2015 with approximately $58 million in assets.

SEC Press Release

Source: SEC Document