### Comment:
Correct. I believe he lost &gt; $350M. It is possible that he was unable to unwind his positions because he had so many.

### REPLY:
Exactly. Got caught short calls against a huge move no doubt at the very least exacerbated by the very position he was trying to unwind. The market just had a way of smelling blood. Take him out then go back to business as usual. Same think happened to Vic Niederhoffer (multiple times) and countless others. Will no doubt happen again !

### END.