How 9 Traders Made $660M in a Single Day by Shorting Oil 🛢️
On April 20, 2020, WTI crude oil futures went negative—down to –$37 per barrel. A small group of traders from Vega Capital (London) had already built a massive short position on CME WTI crude oil futures (May 2020 contract).
They sold oil at around $18–20 per barrel and bought it back near –$37, locking in roughly $47 profit per contract. With about 13,000–14,000 contracts, they turned that into ~$660 million in profit in one day.
They sold oil at around $18–20 per barrel and bought it back near –$37, locking in roughly $47 profit per contract. With about 13,000–14,000 contracts, they turned that into ~$660 million in profit in one day.
This is the power of:
✅ Huge market moves
✅ Smart timing
✅ Futures leverage
If you’re trading oil futures or crypto‑linked commodities on Binance, remember: big crashes can create big winners—but only if you’re on the right side of the trade and manage risk carefully.