August 2, 2012
Sigh ... more idiot inside traders
OK ... I know I've said that if you are going to trade on inside information that you should trade in call options, cause you're just going to swamp the market and put a target on your back. But, here's a tip I thought I wouldn't have to give you. If you are going to trade on inside information, please don't use your work computer to do the following searches:
"can option be traced to purchaser?"
"can stock option be traced to purchase inside trading"
"how to detect can stock option be traced to purchase inside trading"
"insider trading options"
"insider trading options trace"
"illegal insider trading options trace"
"insider trading options trace illegal"
Can you say "scienter"?
You'd think it would go without saying, but apparently not everyone is smart enough to simply not trade on inside information. In fact, some people are stupid enough to do internet research from the office computers before doing the deed. You think I'm kidding? Well, the SEC has just charged a Bristol-Meyers-Squib executive with trading on inside information in advance of a series of acquisitions.
Just don't do it.
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