Sep. 11 at 7:12 PM
Situational Awareness builds relationships w/ new brokers as it attempts rebuilt/rebound
The fund is rebuilding large positions in
$AMD $INTC $SKHY $SNDK &
$CRWV and has recently used customized “flex options” for leveraged upside exposure
After peaking at over
$45B in AUM & +439% YTD in June 2026, Situational Awareness suffered an extreme draw-down of -67% during the late-July AI sector sell-off due to excessive margin leverage. The fund sold off ~
$16B of its equity book to Citadel to cover margin demands, leaving the fund up +80% YTD at the end of July.
Likely Positions (based on activity):
- AMD: Jan 540/580 calls -
$36M prem,
$193M delta,
$1.08M vega.
- Intel: Jan 105/115 calls -
$48M prem,
$185M delta,
$870K vega.
- SK Hynix: Jan 190/210 calls -
$39M prem,
$148M delta,
$710K vega.
- Sandisk: Jan 2040/2200 calls -
$57M prem,
$198M delta,
$1.04M vega.
- Coreweave: Jan 105/115 calls -
$43M prem,
$160M delta,
$770K vega.
- DRAM ETF: Jan 65/70 calls -
$43M prem,
$173M delta,
$855K vega.
