OK who just made $200M shorting Nvidia ahead of Jensxit?

A mystery trader opened a large bearish Nvidia options position on October 12, when the shares traded around $226, shortly before the “Jensxit” turmoil described in the account. The trader bought 180,000 January 15 put options with a $150 strike and sold 280,000 puts with a $100 strike, paying about $8.32 million net. Both sets of contracts were far out of the money at the time. As Nvidia fell to roughly $166, the purchased puts gained substantial value, putting the position’s estimated profit near $196 million - about 24 times the initial cost. The trader’s identity and reason for making the bet are unknown.

The sold $100 puts helped finance the purchased $150 puts but created a serious downside risk: if Nvidia fell far below $100, losses on the larger batch of short puts could outweigh gains on the purchased contracts. At expiry, the position would be profitable if the stock ended between about $11.46 and $150.46; its theoretical maximum profit is roughly $892 million, reached near $100. The options’ value is also highly sensitive to timing: the position’s estimated time decay is about $880,000 per day. The account notes that the trader could sell the contracts before expiry to lock in gains rather than risk a reversal.