### Comment:
I thought that was showing the value of his contracts being down, which he would let expire so not real loss? Or is this some other loss ?

### REPLY:
He bought $600k worth of contracts.  By the end of yesterday they had already lost 180k in value.  When contracts expire the loss is realized, and it is total.  He will lose everything unless he selling them off right now - in which case he just lose the vast majority of it.

### END.