Volatility Trading Case Studies: Bill Ackman’s $2.6B, Allianz’s $6B Fraud, Universa’s 3,612% — 19 Documented Hedge Fund Strategies
From deep OTM puts to short strangles: Every documented case of options strategies that made billions or destroyed funds, with full SEC/DOJ sources.
From Universa’s 3,612% gain in March 2020 to Allianz’s $6 billion criminal settlement, volatility trading separates systematic winners from fraudulent losers. This analysis examines 21 verified cases where convexity defined P&L outcomes.
