The Day Oil Went Negative, These Unlikely Traders Made $660M

Over the span of a few hours one day in April 2020, a guy called Cuddles and eight of his pals from the freewheeling world of London’s commodities markets rode oil’s crash to a $660 million profit. Now regulators are scrutinizing their once-in-a-lifetime trade.

#Oil #Storylines #BloombergQuicktake

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[NotoriousRawDogger]

The big firms do this the whole time. It's nice seeing the small guys win

[King-tyqv]

Some people can't stomach the fact that a 22 year old made more than they'll ever make in their life time

[tylero]

Anytime a small group of traders who make it big, theres always an investigation. But when wallstreet or the city do it, its never a problem. Its completely crooked.

[myczxr]

"led by a guy named 'cuddles'"

the future is now

[Chenghaop]

What are the best strategies to protect my portfolio?, I've heard that a downturn will devastate the financial market, so I'm concerned about my $200k stock portfolio.

[LagParty]

This story sounds to me like a team of mad lads being absolute legends

[agedvagabond]

I was short on this with next to no trading experience closed right as it approached 0 because I had no idea what 0 would mean. Still $500 into 30k was not a bad day what a time to be alive.

[lc]

Considering the big players playing dirty in the market for years with nothing more than a cursory slap on the wrist, and a group of misfits taking them out, one, only 22 years old, somehow, it seems like fair play.

[coelhocointech]

22 years old making 100 million in a day has got to be the greatest trade ever

[igotalottastuff]

These mad lads are mental, what absolute legends.

[LenaSchweizer-ffxy]

The Market have been suffering over the past month, with all the three indexes recording losses in recent weeks. My $400, 000 portfolio is down by approximately 20%, any recommendations to scale up my returns before retirement will be highly appreciated.

[Tential]

Small guy gets the win and all of a sudden they are super mad. Big firm makes this same trade and they are congratulated

[nidrvlogs]

100Ms in a day at age 22 I have to salute that guy man, even 10 million is a lifetime goal and he made 100 in a single afternoon 😂

[williamlloyd]

Seems like source material for a movie. Perhaps a real life “Margin Call” drama level story.

[einseitig]

This is a great story. As a day trader, this is what you aim for. Every day you take much (much) smaller sums and you wait for the big one. Very well done to them.

[pole]

They were taking a huge risk because the opposite could have happened. Their risk - their money. Well played

[nikhilsharma-loyx]

Proud of you boys !
Being a trader myself, you guys had the balls to be in the trade. Congratulations!

[harishsrinivasan]

Sensing a fair bit of saltiness, but remains to be seen what comes of this. This is definitely going to be made into a Finance movie like the Big Short

[erqey]

Man I wish I could have seen the room and their reactions when they realized what they had done. Must have been absolutely insane.

[defwishfx]

Not all the money went to the bad guys: I made ~10€
Before fees and tax of course.