Re:An insider-trading indictment shows ties to Bloomberg New...
by lixtra on Saturday April 03, 2021 @01:55AM
(#26678703)
> The sales within a minute of publication are also strong evidence that Peltz knew what was coming when.
I don’t agree. If you day trade in a stock it’s totally normal to watch the newsfeed filtered for it and react to stories within minutes.
But as I said, the nearness in time only implies coordination. I can't prove it. A trial might, or might not. I doubt that all the communications between the reporter and Peltz's burner phones were recorded.
The expiration date on the options would be interesting to know. If they were very short-term options (lower time decay) only slightly out of the money (higher time decay), that would be even stronger evidence.
The sales within a minute of publication are also strong evidence that Peltz knew what was coming when. You don't want the off chance of a sudden stock market crash to get in the way our your insider trading...