CSI 1000 Put Options Surge 40-Fold on July 18 as Index Crashes Over 6%

According to Guru Club, on July 18, China's CSI 1000 stock index options saw out-of-the-money put options surge 40-fold on the expiration day. The 2607 bearish contract jumped from 2.6 yuan to 106.8 yuan as the underlying index fell over 6% and the VIX fear gauge hit its yearly peak. A 10,000 yuan position bought before market close on July 17 would have been worth approximately 400,000 yuan by the next day.
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