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  • filt05 filt05 Mar 23, 2006 10:45 PM Flag

    Option Fraud (~$42 million+ dollars)

    Information for a PUT Option fraud investigation (to the tune of 42 million dollars)
    It appears like there has been a lot of PUT options sold (traded close to the bid price) in the last trading hour (around 15:30 ET). If this was a calculated move to capitalize on the news of GOOG being added to the S&P 500 (which was not yet officially announced at that time), then a lot of gains is to be had fraudulently by the sellers of the options.

    ----------
    GOOPT (600 PUT APR expiry)
    bid price was 258.2 and ask was 258.8
    15:34:12 EST 258.00 2000
    15:34:17 EST 258.00 2000
    ----------
    GOPPO (500 PUT APR expiry)
    bid price was 157.8 and ask was 158.5
    15:30:38 ET 158.00 2800
    15:31:44 ET 158.00 2800
    ----------
    The above trades alone represent a lot of money 10Koptions * 100 shares * say about $25 price move gives about 25 million dollars.

    Presuming that other sales ending at about $8 were also the work of the same people.
    Copied from Yahoo finance pages.
    APR PUTS
    Strike Symbol Last Chg Bid Ask Vol Open Int
    490.00 GOPPK.X 148.00 0.00 147.60 148.40 2,411 8
    500.00 GOPPO.X 158.00 Down 2.80 157.60 158.40 5,626 10
    510.00 GOPPU.X 168.00 Up 0.30 167.60 168.40 1,000 7
    590.00 GOOPR.X 248.00 Down 0.40 247.60 248.40 654 10
    600.00 GOOPT.X 258.00 Down 0.10 257.60 258.40 4,041 13

    Jun Puts
    Strike Symbol Last Chg Bid Ask Vol Open Int
    500.00 GOPRO.X 158.00 Down 0.10 157.60 158.40 800 325

    Sep Puts
    500.00 GOPUO.X 158.00 0.00 157.80 158.50 1,310 332
    510.00 GOPUU.X 168.00 0.00 167.60 168.50 739 172
    520.00 GOPUV.X 178.00 Down 0.40 177.60 178.50 351 82
    530.00 GOPUW.X 188.00 0.00 187.60 188.50 263 66
    540.00 GOPUX.X 198.00 Down 2.20 197.60 198.50 713 98
    550.00 GOPUY.X 208.00 Down 0.40 207.60 208.50 714 94
    560.00 GOPUZ.X 218.00 Down 0.40 217.60 218.50 809 122
    570.00 GOPUQ.X 228.00 Down 3.60 227.60 228.50 216 28

    Total up all these suspicious GOOG put sales for Apr, Jun and Sep and it appears like there ought to be an investigation into it. Roughly 17K Option contracts. If the stock moves about $25 upwards then this amounts to a fraud of about $42 million dollars.
    Sincerely,
    Retlif (pseudo name for account exposed to junk mail)

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    • Waaaaay too much money to be GOOG employees. Unless one of them leaked info that got to a hedge fund.

    • deadcatbouncefallingknifebooyahs deadcatbouncefallingknifebooyahs Mar 24, 2006 2:42 AM Flag

      drillers_plano called it. Who in their right mind would think that he/she/it would be on the right side of any trade? That was the big head fake! So many long idiots, so many people of exceptional brilliance, who were short.

      Share volume 1/2 the average? Big sells beating big buys... Who the hell was I supposed to side with?

      Need more? Go back a day and look at Drillers posts? Who would give that person an ounce of credence?

      Smart people who think the world works like it should got screwed on this. You who are currently long, put your hedges in!!!!

    • deadcatbouncefallingknifebooyahs deadcatbouncefallingknifebooyahs Mar 24, 2006 2:34 AM Flag

      I put myself in the position that i put myself. Sucks for me, I should have been smarter. In the future I am going to put a piece of tape on my monitor that says "You're not that bright." just as a reminder.

      I knew something was up before I even saw the spike, but I thought that it was in my favor.

      This stock trades funny. longs keep your hedges in, your about to get a run, but it ain't going to last forever. Learn from my mistake.

    • the amazing thing is who are the idiots that bought them up knowing the risk of news like this.

    • This option fraud has drillers_plano's name all over it. I'm notifying the onion.com to do an expose.

    • I'm with you. I have no open interest at all on GOOG at this point, but I went through three months watching the manipulation at options expirations on this stock and got burned for $18K. I was a seller of puts (bullish), I know you were short (bearish), but this just sucks.

    • I suspect it could be them GOOG employees' partner with their relatives or friends in those SUSPICIOUS selling put bullish calls. They might think buying call will be too obvious, selling put looks like buying put???

      We know how they GOOGilian is a growing company and they recruit too many employees daily, i doubt they know how to manage the current employees size right. Just think about previous forecast revenue was leak out in the internet.

      Also, i think we all see all the GOOG employess are playing arcade game, pool and etc while they are working...it won't be suprise they are doing this. Just an opinion.

    • I suspect it could be them GOOG employees' partner with their relatives or friends in those SUSPICIOUS selling put bullish calls. They might think buying call will be too obvious, selling put looks like buying put???

      We know how they GOOGilian is a growing company and they recruit too many employees daily, i doubt they know how to manage the current employees size right. Just think about previous forecast revenue was leak out in the internet.

      Also, i think we all see all the GOOG employess are playing arcade game, pool and etc while they are working...it won't be suprise they are doing this. Just a opinion.

    • deadcatbouncefallingknifebooyahs deadcatbouncefallingknifebooyahs Mar 24, 2006 2:16 AM Flag

      yes it does, please write the media.

      The world needs to know what these money mangers are doing with their money, and they need to know something about leaks.

    • BTW, from what little info I have on MM of options, I believe that the MM makes an off-setting trade immediately after he has to take a postion. So maybe the MM is hedged somehow and won't get burned on this, but this still stinks to high heaven.

    • View More Messages
 
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