SoftBank stock tumbles nearly 8% with Son's foray into options trading

SoftBank Group shares tumbled in Tokyo after reports that the Japanese conglomerate made substantial bets on equity derivatives amid the surge in technology stocks.

SoftBank shares dropped as much as 8 per cent, the most on an intra-day basis since March. The stock had gained 33 per cent this year before Monday. The Financial Times, Wall Street Journal and Zero Hedge reported that SoftBank was making massive bets on technology stocks using equity derivatives. The FT labelled SoftBank the “Nasdaq whale” that “stoked the fevered rally in big tech stocks,” though it didn’t include details of any trading.

The reports touched off