More Insider Trading? (JPM) in [Market-Ticker]

Posted 2012-05-10 23:31
by Karl Denninger
in Corruption

More Insider Trading? (JPM)

Naw, nothing wrong here....

The highlighted field shows 13,843 $41 PUTs traded today and expire tomorrow for, at the close, about 43 cents.

They're worth a fair bit more than that right now (like $3)

Why would you buy a crapload of $41 PUTs with the stock trading just under $41, for expiration tomorrow, that would be literally worthless in 24 hours unless you knew something in advance?

Discussion below (registration required to post)

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User Info	More Insider Trading? (JPM) in forum [Market-Ticker]
Dashingdwl Posts: 9764 Incept: 2007-06-26 los angeles	As I speculated in the other thread: JPM shorted their own stock and sold the futures all day today. The Scumbags who built the system, know how to game the system. ---------- When you are hard and disciplined, you can be principled. People fear you because they have no leverage against you. It's the truest form of Liberty. 2012-05-10 23:42:04 Permalink
Mortgageguymn Posts: 1566 Incept: 2009-03-09 North Coast	SEC'll be all over them. Special Agent Corzine himself. 2012-05-10 23:57:00 Permalink
Curiousfsh Posts: 1259 Incept: 2007-07-26 NYC	Interestingly, for a fairly low-volume day, JPM traded above the average daily amount of shares (~+1.4%) , while peers like GS, BAC, WFC, etc. were substantially lower than average. They're certainly making up for some of that loss. Would have been nice to get that memo... ---------- "Only two things are infinite, the universe and human stupidity, and I'm not sure about the former." - Albert Einstein 2012-05-11 00:00:41 Permalink
Murf Posts: 4486 Incept: 2007-08-28 MurfCon Warning Level: Arrogance II	"were stupid" "I would put in the egregious category. "it violates the Dimon principle. We have egg on our face, and we deserve any criticism we get. nah, he wouldn't, I mean... that would be illegal... besides, the SEC is watching. ---------- The money has already been lost. Someone has to book it. 2012-05-11 00:13:38 Permalink
5755hsa Posts: 646 Incept: 2008-09-07 North of 40 in the land of pathetic highways	"nah, he wouldn't, I mean... that would be illegal... besides, the SEC is watching." Murf; The SEC is likely participating. ---------- Ineptocracy (in-ep-toc'-ra-cy) - a system of government where the least capable to lead are elected by the least capable of producing, and where members of society least likely to succeed, are rewarded with goods paid for by the confiscated wealth of a diminishing number of producers. 2012-05-11 00:16:32 Permalink
Murf Posts: 4486 Incept: 2007-08-28 MurfCon Warning Level: Arrogance II	they are watching, right? ---------- The money has already been lost. Someone has to book it. 2012-05-11 00:16:36 Permalink
Genesis Posts: 130798 Incept: 2007-06-26	Porn, yes, they are watching. ---------- I don't care* if it makes sense -- only if it makes money. -- Me* Bank (n): See scam, fraud and theft. *Eat a bankster -- they're low-carb.* *What part of "shall not be infringed" was unclear?* 2012-05-11 00:17:53 Permalink
Murf Posts: 4486 Incept: 2007-08-28 MurfCon Warning Level: Arrogance II	---------- The money has already been lost. Someone has to book it. 2012-05-11 00:20:30 Permalink
Curiousfsh Posts: 1259 Incept: 2007-07-26 NYC	I have no problem with porn, bit I would have preferred to get the memo that they were holding a doozy of a press conference. I'd take a few thousand weekly 41 put contracts over [insert Karl's favorite porn star here]. ---------- "Only two things are infinite, the universe and human stupidity, and I'm not sure about the former." - Albert Einstein 2012-05-11 00:25:01 Permalink
Kylafoon Posts: 2460 Incept: 2009-02-05 Zombie Portal Lookout	If only we could figure out a way to put some of these charts, graphs, and screen captures of obvious fraud in the background of midget pron videos...... Nah... Midget pron is too solid... You could stab the SEC in the eye with an ice pick of irrefutable evidence of fraud. They will do nothing. Our world has become saturated with scammers, theives, cheats, and frauds. And they are simply following the example set by our dear leaders. We are so very ***ed.. ---------- "...But whenever we see things done wildly, but taken tamely, then the State is growing insane..." - Gilbert Keith Chesterton 1910 "I found a flaw in the model that I perceived is the critical functioning structure that defines how the world works." - Alan Greenspan, October 2008 2012-05-11 00:31:23 Permalink*
Mannfm11 Posts: 3556 Incept: 2009-02-28 DFW, Tx	JPM short their stock? They just bought a bunch of it. As for the puts? It was probably some ex-GS guy at the Fed, just like the huge Bear, 9 miles out of the money, expiring next week put trade in March 2008. It is harder to find Jumbo the elephant in your living room than to trace down such a deal. If the buyer is on the governments protected list, they will send a kid from kindergarten to do the investigation, telling him to find a pony. It could be someone in the know in London, who got wind Dimon was going to do a presser, a lucy guess. That is well over a half million, a pretty stout bet on a trade that at best would normally make no more than a few cents if it worked. It could also be JPM covering their own bet, writing puts against their own stock, seeing as they were buying back stock. ---------- The only function of economic forecasting is to make astrology look respectable.---John Kenneth Galbraith Last modified: 2012-05-11 01:09:10 by mannfm11 2012-05-11 01:08:35 Permalink
Jb350 Posts: 359 Incept: 2011-06-10 Detroit metro Banned	They have all the Fed funny money they need to drive the stock down to cash in on their puts. They run this kind of scam on many thursday nights, which is why I been reluctant to hold going into any opex. They know who is holding what. Their little fancy schmancy algorithms must have told them that they and their co-conspiritors own all the puts. Additionally, I'm sure they have the complete institutional buying book for tomorrow so they know exactly how much it will cost to push a stock down far enough to cash in on the puts. (Or maybe they simply know that there will be a lot of institionaly selling today...) They have all the information they need to guarantee that X amount of dollars is all it takes to generate Y amount of option profit. 2012-05-11 08:26:26 Permalink
Dashingdwl Posts: 9764 Incept: 2007-06-26 los angeles	Are we green yet? ---------- When you are hard and disciplined, you can be principled. People fear you because they have no leverage against you. It's the truest form of Liberty. 2012-05-11 09:47:29 Permalink
Marketpirate Posts: 1636 Incept: 2007-11-30 New York	Quote: Are we green yet? . Yes we are. Where's Zara and that rally monkey? ---------- The bull**** stops when the money runs out, and not a moment before. Last modified: 2012-05-11 10:31:13 by marketpirate 2012-05-11 10:30:29 Permalink

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