Can you explain what that means? What is he actually betting will happen?
Market dump. Which it did. Vix is volatility. He bought calls...meaning he wants the vix market to go up.
He put on a position again last week. Almost 6 million dollars. He doesnt need Vix to go to 24. He just needs it to rise and get out. Or..he may be trying to force other issues in market as some of my posts have indicated .
Vix effects the price of all options. Higher it goes the more costly they all get.