MIT research scientist pleads guilty to insider trading

[zdreg]

I once had a volume based strategy that signaled for me to buy OSIP (a pharma company) calls. I bought 1200 at 330pm. That evening "unexpected" drug news came out and the stock rallied 3 dollars. I made 300k. Two days after that I got a letter from the SEC asking why i did the trade.

I bought 1200 at 330pm. That evening "unexpected" drug news came out and the stock rallied 3 dollars, I made 300k
that sounds like you made 3600 not 300,000

 

[newwurldmn]

I bought 1200 at 330pm. That evening "unexpected" drug news came out and the stock rallied 3 dollars, I made 300k
that sounds like you made 3600 not 300,000

1200 options = 120,000 dollars/point

 

[Overnight]

1200 options = 120,000 dollars/point

If I could make 300K in a couple of hours, I'd be quite happy and maybe consider retirement.

Alas, I don't know options. Great work!

 

[newwurldmn]

If I could make 300K in a couple of hours, I'd be quite happy and maybe consider retirement.

Alas, I don't know options. Great work!

Bank pnl. My "share" was a lot smaller.