The recent market convulsions produced a spike in volatility-and you could bet on it rising by using options linked to the Cboe Volatility Index, or the VIX. According to Macro Risk Advisors, one mysterious trader-dubbed "50 Cent" because the options cost about 50c apiece-may have made almost $200 million on that wager after having blown through $200 million since the start of 2017 on options that expired worthless. The numbers as of Feb. 9 assume 50 Cent didn't take the newfound winnings off the table.
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