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StocksUpdated•Originally published 17 April 2026•Updated 18 April 2026•

1 min read

Trader Nets $23M Profit on S&P 500 Calls Ahead of US-Iran Ceasefire

Fortified uniQure building, fences, caution tape, security cameras. FDA buildings, US flags, justice symbols. Charts on tablets and papers.

Key Facts

1An unknown trader gained $23 million in paper profit after purchasing S&P 500 Index options hours before the US-Iran ceasefire announcement.

2The trader spent $12 million in premium for 6,800 lots of 6950 S&P 500 Index calls expiring May 8.

about 2 months ago

Version History

Version 1about 2 months ago

What changed: Updated the story to include S&P 500 futures hitting record highs above 7100, the sharp decline in oil prices, and Netflix's 10% drop following leadership changes.

An unidentified trader secured $23 million in paper profits on S&P 500 options ahead of the US-Iran ceasefire, as market momentum pushed S&P 500 futures above the 7100 level. While the Nasdaq is on track for its 13th consecutive day of gains, WTI crude oil prices dropped by $4 to trade below $88 per barrel amid optimism surrounding the resumption of diplomatic talks this weekend. Conversely, Netflix shares tumbled 10% following disappointing Q2 guidance and the announcement that Reed Hastings is stepping down as Chairman. President Trump has signaled that negotiations could potentially resume shortly, further fueling the broader market rally despite the decoupling of major tech names. This surge highlights a high-conviction environment where geopolitical de-escalation is outweighing corporate earnings concerns in the derivatives and futures markets.