FT article shines light on what we said: Softbanks wasnt so much of a whale.
…retail traders have together spent almost $40bn on similar trades just over the past four weeks, according to Sundial Capital Research. Dean Curnutt, the chief executive of Macro Risk Advisors, a derivatives strategy firm, said those millions of retail traders form a “Mighty Call Trading Legion” with a combined heft bigger than even giant financial institutions. “My take is that it’s less SoftBank [driving options markets] and more this collective activity of retail, momentum-oriented crowd,” he said. “The data doesn’t have a mark of a whale. It has the mark of lots of little, tiny whales that add up to one big one.”
