Link to story
Cliff's Notes: Once again option volume a bazillion times above normal occurs the day before a large buyout (Blackstone-Hilton).
Honestly, wtf? How is this not handled yet? It seems that with every major buy-out that this [censored] occurs. 70 options with a strike of $40 were traded in the last 11 trading sessions (TOTAL!). Then 5000 are traded Tuesday. They should prosecute each and every individual that traded them that day and throw them all in jail.
Is the problem that there is no way to PROVE they received insider information? Is trading alone not enough to warrant this? Obviously a few people (MAYBE LIKE 10 OUT OF 5000) were legitamitely trading, but the rest are all frauds and deserve to have all their assets siezed.
And if it is the case that this [censored] isn't something that can be prosecuted because of lack of evidence, then shouldn't they just do away with options? If not then they are basically allowing collusion and fraud.
For some reason this [censored] pisses me of like a mother [censored]. I'm sitting on ass-loads of proprietary knowledge for which I had to sign a bunch of [censored] saying I wouldn't leak anything "material". Then I see this [censored] happening every god damn [censored] day and nothing is being done abuot it.
[censored].