The people holding the ETF and selling the option. If they had not sold the option, they would have benefited from the value rising, now they instead got (collectively) $2.5M.
If the price had stayed flat or dropped, they would of course still have the $2.5M.
The precision makes it look a lot like a crime, as trading on information that's not publicly available is illegal.
If the price had stayed flat or dropped, they would of course still have the $2.5M.
The precision makes it look a lot like a crime, as trading on information that's not publicly available is illegal.