[TheAlchemist]

2.5M on 0 day options is not small change at all, even for somewhat big players.

0 day - means it's a win big or loose 2.5M on a single day move.

[eru]

Is it 2.5M notional (that's not necessarily a lot, especially if the options aren't (much) out of the money), or 2.5M premium paid?

[TheAlchemist]

2.5M premium paid