Did the mistaken operation expire, making Duan Yongping the third-largest shareholder of Pop Mart?

Previously, I wrote about Duan Yongping because he didn't understand the rules of Hong Kong stock options, resulting in overselling a lot of options.

Today, April 29th, the April options for Pop Mart expire, with a closing price of 156.8 HKD.

Although Duan Yongping hasn't disclosed the specific strike prices, based on trading volume and his trading style, it's estimated that the large number of PUT options he sold are mainly between 140 - 155.

Although he has already made tens of millions or even hundreds of millions of HKD from Pop Mart options, because the options didn't reach the strike price, he doesn't need to buy the corresponding number of shares.

So, to answer the question, because these options weren't exercised, the number of Pop Mart shares he currently holds should be very limited, still far from being the third-largest shareholder.

Although he holds few shares, it doesn't hinder the fact that Duan Yongping's Pop Mart insurance company has indeed been very successful.

This is the charm of selling puts. While others engage in zero-sum game swing trading and day trading in the stock market, by comparison, he has practically turned investing into a real business.

Of course, in Duan Yongping's eyes, investing and business are essentially the same thing.

The so-called "buying stocks is buying companies" is precisely this principle.

I believe many Pop Mart investors are very much looking forward to walking alongside Duan Yongping.

Although this time Duan Yongping's attempt to build a position in Pop Mart by selling puts didn't succeed.

This doesn't prevent him from continuing to sell puts around Pop Mart, continuing to sell insurance around Pop Mart.

As long as you sell a lot of insurance, sell it for a long time, and cover a wide range, won't there be a day when users make claims?

Some investors might not understand why he doesn't just buy the shares directly if he's so bullish on Pop Mart.

After all, he himself thinks that for Pop Mart at its current price, any price at this level will be a good price!

But he just prefers to build a position in a company by selling puts; this is purely a personal investment preference.

I think for a big shot like him, doing business in the stock market, taking it slow and steady, might be more fun.

After all, the over 8 billion USD worth of Apple he holds wasn't bought all at once; he said at least 90% of it was built through selling puts.

Although Duan Yongping is currently bullish on both Pop Mart and Pinduoduo, considering them both his "children."

But as a long-time follower of Pinduoduo and a fan of Duan Yongping, I can still very clearly feel his "favoritism" towards Pop Mart.

Truly, love arises from unknown origins, and once it starts, it goes deep.

He even changed his Snowball avatar to a photo of him and his child unboxing Pop Mart blind boxes.

Although I am currently a shareholder of both Pinduoduo and Pop Mart, from Pinduoduo's perspective, I'm very envious of this "favoritism" he shows towards Pop Mart.

Duan Yongping has always tried to understand Pinduoduo in the past, but just like the impression Pinduoduo gives people, it's a rational, pure, even somewhat cold company.

I also wrote an article before tracking his views on Pinduoduo.

From these views, one can't see "favoritism" similar to that for Pop Mart.

I think from a business model perspective, undoubtedly, compared to Pop Mart, Pinduoduo has better platform resilience, solves more of the world's hardships, and creates greater social value.

But Pop Mart's business model revolves around happiness, doesn't need to bear too much burden, and is a product everyone enjoys.

Celebrating life, to light up passion and bring joy.

In this not-so-perfect world, it's a very harmless existence.

It's all about incremental business, and there aren't many competitors either.

In contrast, Pinduoduo builds a dominant platform, fights in a stock business, and survives under compliance.

It's hard to imagine this being a company of peaceful times; it's destined to become a war machine that can win battles continuously.

So no wonder it doesn't receive Duan Yongping's "favoritism" like Pop Mart does, even though he already holds 1.1 billion USD worth of Pinduoduo.

But this world needs to seek common ground while preserving differences. Although Pinduoduo and Pop Mart are so different, I can still see many commonalities in them.

I believe Duan Yongping is the same.

That's enough.

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