A mysterious trader known as '50 Cent' is betting millions on a volatility spike — but why?

From cnbc.com

A pattern of huge, near-daily trades on the VIX is turning heads in the options market. What's most notable is that even after losing some $75 million by betting on a volatility spike, the huge options buyer known as "50 Cent" shows no signs of slowing down. "I would categorize them as someone who doesn't flinch at losing money," commented Pravit Chintawongvanich, head of risk strategy at Macro Risk Advisors, who flagged the activity in a series of research notes. The money-losing trades in question have been purchases of call options on the CBOE volatility index. These represent bets that market volatility is set to ... (full story)