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  • gnelson217 May 27, 2004 3:31 PM Flag

    History repeats

    If something is not up, why would one person buy July out of the money call to the tune of 125K. This was the move that started all the vol. on the options yesterday, IMO he knows what is about to happenas much as this scum bag trader....

    "The Facts About the 9/11 Terrorist Attacks and Insider Option Trading"

    The images of the devastating terrorist attacks on the World Trade Center in New York City, Washington D.C., and Pennsylvania, will be forever etched in our memory � but here�s something you may not have known....

    The following article, �Black Tuesday: The World�s Largest Insider Trading Scam� reveals the following trades connected to the September 11 attacks:

    �- Between September 6 and 7, the Chicago Board Options Exchange saw purchases of 4,744 put options on United Airlines, but only 396 call options...Assuming that 4,000 of the options were bought by people with advance knowledge of the imminent attacks, these �insiders� would have profited by almost $5 million.

    - On September 10, 4,516 put options on American Airlines were bought on the Chicago exchange, compared to only 748 calls. Again, there was no news at that point to justify this imbalance...Again, assuming that 4,000 of these options trades represent �insiders,� they would represent a gain of about $4 million.

    (The levels of put options purchased above were more than SIX TIMES HIGHER than normal!)

    No Similar Trading In Other Airlines
    Occurred On The Chicago Exchange In the Days
    Immediately Preceding September 11th!

    - Morgan Stanley Dean Witter & Co., which occupied 22 floors of the World Trade Center, saw 2,157 of its October $45 put options bought in the three trading days before Black Tuesday (Sept 11); this compares to an average of 27 contracts per day before September 6th. Morgan Stanley�s share price fell from $48.90 to $42.50 in the aftermath of the attacks.

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