This is what it feels like to me: once the amount of funds reaches a certain level, it’s actually right to buy anything.

According to reports, Duan Yongping made a “mistake” because he was not familiar with the Hong Kong stock options rules, when selling bubble mart put options (Put). He had planned to sell a position of 3.4 billion Hong Kong dollars, but because he mistakenly took each Hong Kong option contract as corresponding to 200 shares (instead of 100 shares like in the U.S.), the actual sell volume doubled to 6.7 billion Hong Kong dollars.
The option’s strike price is 150 Hong Kong dollars, and it expires on April 29. The 14-day premium yield is 2.18%, with an annualized figure as high as 57%. This is equivalent to committing to take over if the share price falls below 150 Hong Kong dollars, creating strong “market support,” putting short sellers in a bind: shorting becomes hard, and if they don’t short they have to pay interest—leading some short sellers to even file a complaint with the Hong Kong SFC.
After being ridiculed by the crowd, Duan Yongping replied:
1. I’m an amateur. I didn’t know that one trade was for 200 shares; my hand slipped and I bought twice as much, and one slip was 6 billion.
2. The reason for selling the Put is that I need to think about what stock to use to exchange for it.
I understand—last week when I ordered takeout, I accidentally placed two orders and I didn’t request a refund either. After all, it was only 50 bucks. #美股创下历史新高