Chance or something elseYesterday I was active on the option market.
In the morning, someone bought 150,000 march 17 options at 62$ at a price in the 1,80$ - 1,90$ range. It's a 270 k$ bet on options with an implied price of 63,90$ (price to be in the money). It's a huge premium paid while the SP was at only between 58$ and 59$ with low volume.
For taking such a chance, to be profitable you have to almost double your bet; implying a SP of 65,80$ and more before march 17.
I'm still puzzled about that trade.