Actually not. If both tweet and post of option trade were in the same time zone, the trade was 2.5 hours BEFORE the tweet. If they were in different time zones, it could have been 20 minutes later...
Forget cattle futures, Hillary is trading biotech puts
- Thread starter Pekelo
- Start date
Actually not. If both tweet and post of option trade were in the same time zone, the trade was 2.5 hours BEFORE the tweet. If they were in different time zones, it could have been 20 minutes later...
https://www.reddit.com/r/wallstreet...wish_i_was_hillary_clintons_official_tweeter/
Today 3 hours before Hillary tweeted about Epipen, someone bought IBB 290 puts, expiring in 2 days. The stock was at 298. After the tweet and the subsequent drop to 286, the puts are worth 29 times more...
Who needs cattle futures when there is Twitter???
Edit: I am not sure what timezone Twitter is, but the tweet was at 2:02 pm and the stock started to fall after 1 pm, Eastern...
Pekelo,
Have you looked at the open interest in those puts? The volume is pathetic, and there's a .50 cent spread between the bid/ask. Those puts did around 100 contracts at the time, with a low tick of .80 cents. Still, it was a nice 10 bagger if the person got low tick and if the person sold today.
Insider trading? Not likely. Just a good guess on a chart that was shaping up to rollover, coupled with thinly traded, lousy option spread on a weekly.
2 days ago the IBB 290 puts were 35-45 cents at the close. That is not 50 cents spread. Tomorrow I can tell you the spread just before the tweet, the trader got them for 15 cents if I remember correctly, right now the subreddit has been set to private, so I can't check the posted price...
It was a 29 times bagger, by yesterday's close, not a 10 one. Right now they are going for around $7, but we don't know when the trader sold them...
Of course I don't think it was Hillary, that was just a joke, but it could have been someone from her group who knew there would be a tweet coming...
On the other hand I do think Hillary is an expert on cattle futures...
On the other hand I do think Hillary is an expert on cattle futures...
lol..... you crack me up.
The quote was 15@20... so a small spread indeed.
I don't see anything strange really.
Below is the chart of that put for the week... several times 100 lots is traded. The day before was a trade of 103 @ 0.40. So maybe it was someone who sold bought back again...
Probably not, but who cares.
It's a small position... as I said earlier, just some negativity again directed at the Clinton-team. Meh....
The link is clickable again, puts were 19 cents and at the close the spread was 4.70-5.30
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New topic:
Let's assume for the sake of debate that it was someone from her group. I actually doubt that legally it can be called insider trading. She doesn't hold any public office at the moment, she is not an officer at any company (Mylan or a competitor) so her opinion is not different then:
1. Elon Musk tweeting his usual BS, what always moves Tesla's price.
2. Cramer saying his opinion on his show.
3. Someone on Seekingalpha posting an opinion.
etc.etc.
All 3 could move the market, although except Elon, the other examples are just opinion of talking heads.
Actually Elon should be banned from tweeting, highly unethical and probably illegal.
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New topic:
Let's assume for the sake of debate that it was someone from her group. I actually doubt that legally it can be called insider trading. She doesn't hold any public office at the moment, she is not an officer at any company (Mylan or a competitor) so her opinion is not different then:
1. Elon Musk tweeting his usual BS, what always moves Tesla's price.
2. Cramer saying his opinion on his show.
3. Someone on Seekingalpha posting an opinion.
etc.etc.
All 3 could move the market, although except Elon, the other examples are just opinion of talking heads.
Actually Elon should be banned from tweeting, highly unethical and probably illegal.
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