iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
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Ooh, Scary: Crazy Old Bastard Soros is Buying More $SPY Puts Again

Very scary news of George Soros doubling his Spy puts exposure has some people running for the hills, afraid of the apocalypse to come. After all, George controls the world and knows all.

Any cursory Google search will shed some light on the annual Soros out buying bonanza, something I believe he does as a sacrifice to his master, Lucifer.

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Look at the dates of those articles. Now read this from Reuters.

Billionaire investor George Soros, who has been warning that the 2008 financial crisis could be repeated due to China’s economic slowdown, on Monday disclosed his doubled wager against the S&P 500 in the first quarter.

Soros Fund Management said it owned a 2.1-million-share “put” option in the SPDR S&P 500 exchange-traded fund (ETF) which tracks the benchmark U.S. stock index. That was up from about 1 million shares in the option in the fourth quarter, it said in a filing with the U.S. Securities and Exchange Commission.

Now that I’ve added some color on the annual Soros put buying bonfire, isn’t the ominous sounding Reuters article somewhat meaningless?

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8 comments

  1. Po Pimp

    Fuck that guy.

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  2. uglyflint

    Dracula.

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  3. sweetbillyv

    He is the devil incarnate. He also owns the Dem party.

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  4. mfalke

    Soros almost definitely uses his SPY positions as a hedge.

    Just based on what’s disclosed in the 13Fs, the only time Soros was net long SPY in the past 3 years was during mid 2015. All other periods show him net short via puts.

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    • fryguy15

      Also, it’s not like he is logging into E-trade and buying SPY puts. These are negotiated transactions with large dealers.

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  5. uglyflint

    I’d wager he’s long a boat load of miners. Can’t figure out that insane surge yet this year.

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