THIS IS ABSOLUTELY INSANE:
A billionaire Chinese trader has built the largest net SHORT position in silver on the Shanghai Futures Exchange, holding ~450 tons, or 30,000 contracts.
His short position is now worth ~$300 million in paper gains after silver prices collapsed.
Including losses from earlier positions (he has been forced to liquidate some positions), he stands to make a net profit of ~1 billion yuan, or $144 million.
Previously, he made nearly $3 BILLION from bullish gold bets on the Shanghai exchange since early 2022.
A billionaire ramped up his silver shorts in the final week of January, just before prices collapsed.
HOLY COW
