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Insider trade on Splunk acquisition?

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417 points mkmk | 1 comments | 21 Sep 23 15:58 UTC | HN request time: 0s | source
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powera ◴[21 Sep 23 17:17 UTC] No.37600798[source]▶
If everyone looks at a trade like this as prima facie evidence of insider trading, why are these options even for sale?

It is like a casino, except if you win the jackpot you get arrested. Because we run our economy under the law that requires stock prices to be set by ignorant people.

replies(4): >>37600861 #>>37600904 #>>37601108 #>>37601516 #
1. ryeights ◴[21 Sep 23 18:05 UTC] No.37601516[source]▶
What’s unusual is the volume of contracts purchased, not the contracts in and of themselves… without knowledge of a merger, these contracts had a 99.9% chance of expiring worthless the very next day, so buying $20k worth is rather suspicious…