Someone turned 80k into like 1.2 million betting on Tesla calls or something and hedged with a Kamala win bet it was like 50k tesla/30k Kamala and they turned it into 1.2 million via Tesla somehow
Is it like
- bet 1/2 on unlikely thing
- bet 1/2 on likely thing
- rely on gains on either side averaging out to at least ++
So how does hedging prevail at the instititional level it does or it seems like it does as a viable tool in the investing toolkit? Does it consequently hard require insider info and basically its just investing uncertainty theatre?