To be clear when people quote the billion dollar number they are quoting the notional value (of the entire market move of at the announcement).
Those contracts have between 8-15x leverage depending on margin rules.
This doesn’t remove the corruption problem but it brings the number down into realistic values. And while the volumes were odd for the overnight they aren’t that strange for normal hours trading.
Comments
To be clear when people quote the billion dollar number they are quoting the notional value (of the entire market move of at the announcement).
Those contracts have between 8-15x leverage depending on margin rules.
This doesn’t remove the corruption problem but it brings the number down into realistic values. And while the volumes were odd for the overnight they aren’t that strange for normal hours trading.