Founder of Formula Sells Nearly $7 Million in Bearish Options on Storage Stocks

The founder of Formula, Vida, sold nearly $7 million in bearish options on storage concept stocks today, with most options set to expire in a month. Currently, the sentiment around the storage sector is nearing its limit, and traders are generally surprised, as the implied volatility of storage stocks is at a historical high percentile. Nevertheless, the AI revolution continues, demand remains, and the fundamentals have not changed, with current commodity prices discounted by 35-50% compared to a month ago.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.