A trader known for buying small options -usually costing about 50 cents - on the Cboe Volatility Index, or VIX, won big after months of losing last week when the index doubled in single day.
50 Cent, who shares a nickname with the famous rapper, earned roughly $400 million so far this month, according to data compiled by Macro Risk Advisors. Even with previous losses, he is estimated to have netted $180 million in profits.
Who Is 50 Cent?
The Financial Times revealed last May that the trades came via Ruffer LLP, a respected fund whose client roster includes the Church of England.