A small London trading house reportedly made $500m on oil's historic plunge below zero
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Summary
Bloomberg reported, citing people familiar with the matter who spoke on the basis of anonymity, that a number of Vega traders sold the May contract just before it settled at 2.30 p.m. New York time, netting massive gains.As the settlement time approached, Vega traders reportedly sold the WTI contracts in unison, contributing to bearish pressure on the price.
As said here by Saloni Sardana