$EWY

Does he own it?

Repeated first-person position statements: he holds 2028 long-dated OTM call options ("my EWY leaps up 485%", "my EWY longs up ~3x", "EWY calls up 300%+"), tracks his own P&L over months, and lists EWY among his personal longs. Clear holding via LEAP calls, not just coverage. No explicit percent weight disclosed.

His thesis

EWY is effectively a concentrated, leveraged bet on Samsung Electronics and SK Hynix, whose pass-through ownership structures push real exposure above headline weights. He argues market makers misprice the index's implied volatility on multi-year LEAP calls (anchored to a historically flat Korean index), creating a vega-expansion arbitrage. Layered on top is a directional long-memory-supercycle bet: AI-driven DRAM/NAND demand, soaring operating margins, and cheap forward P/Es make the names structurally undervalued.

How his view evolved

Started Jan as a way to access Korean memory exposure, then crystallized into a specific IV/vega-mispricing LEAP-call trade. Through the Feb-Mar Iran/LNG/helium selloff he stayed firmly bullish, calling crashes buying opportunities. Later tweets are repeated victory laps as the trade ran 3-5x.

Key points

• Holds 2028 OTM LEAP calls; reports the trade running up 300-485% over months
• Core thesis: index IV mispriced because EWY is concentrated Samsung/SK Hynix vol via pass-through structures
• Stayed contrarian-bullish through Iran-war LNG/helium/oil fear selloff, framing dips as buys

Derived from a holistic read of his public posts — paraphrased, never quoted. See his actual posts about $EWY on X ↗