He clearly showed his knowledge of this evenings news earlier today on TV. Roll the tape. I guess call me old fashioned but firing the CEO seems like material non public information. How long has he known? How much did he buy in the meantime? Will the SEC investigate. I doubt it.
He did not really go past what was stated publicly in the agreement between SD and TPG. By June 30 either Ward was gone or the board is flipped to TPG named directors. Since the report was provided over the weekend (unless the investigating firm breached its duty), I am pretty sure he is not stupid enough to have bought anything of consequence yesterday and today which would have been the only period of time where he could have potentially received insider information from the board/company. And he would not need to do anything stupid; there was a change in control occurring by June 30 and he bought up as much as he needed well before now. He is not Martha Stewart - that was an amateur's crime.
Unfortunately for me, only a small part of my speculative call order went through today at the price I wanted; may still expire worthless but I hope this goes well past 6 by July expiration.