Well-known investor Duan Yongping said on Aug. 20 in a post on Xueqiu that he was disclosing his positions tied to Micron Technology (MU), along with screenshots of recent trades. In the post, Duan described short-dated option buying as, in many cases, a form of betting, while option sellers may act more like insurance companies or operators of a casino, with the key lying in controlling the odds through rules. He added that selling put options depends on understanding the underlying business, which he framed as a matter of probability and edge. Duan also stressed that investors should not expect to win every trade and should stay away from anything they do not understand. The screenshots attached to the post showed several specific transactions: multiple MU $870 put options expiring in August that expired worthless; the sale on Aug. 11 of 100 MU $870 call contracts expiring on Aug. 26 at a price of $37.55, generating about $375,500 in premium income; and an assignment on Aug. 10 in which he bought 10,000 Micron shares at a cost of $870 per share, for a total of $8.7 million, after a put option was exercised.
BlockBeats reported on Aug. 20 that investor Duan Yongping disclosed his positions related to Micron Technology (MU) in a Xueqiu post, accompanied by screenshots.
Duan wrote that people who buy short-dated options are, in many cases, making a bet, while sellers may be more like insurance companies or casino operators. He said the key is to control the odds through rules. Selling put options, he said, relies on understanding the business itself, or what he described as probability and edge. He also said investors should not expect to win every time and should avoid touching anything they do not understand.
Trade records shown in the screenshots
According to the images attached to the post, his recent transactions included multiple MU $870 put options expiring in August that expired worthless; the sale on Aug. 11 of 100 MU $870 call options expiring on Aug. 26 at $37.55, bringing in about $375,500 in premium; and the purchase of 10,000 Micron shares on Aug. 10 after a put was assigned, at a cost of $870 per share, for a total of $8.7 million.
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