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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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xyzelement ◴[21 Sep 23 16:54 UTC] No.37600439[source]▶
I don't know if this is genuinely suspicious or not. Is buying 20K of options an unusual thing? Or is this something that happens regularly with options expiring worthless or with a small gain - and it just happened to hit big this time?

IE "someone bought a lottery ticket and won" - interesting to know if they play the lottery every other day (and don't usually win?)

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dtnewman ◴[21 Sep 23 17:02 UTC] No.37600565[source]▶
It's definitely suspicious and will probably be looked into. If it turns out it's a trader who regularly buys soon-to-be-expiring option calls, maybe it'll fly. But if the trade was made by someone who doesn't regularly make $20,000 options bets, they will need a good explanation.
replies(1): >>37601552 #
frontman1988 ◴[21 Sep 23 18:08 UTC] No.37601552[source]▶
Why will they need a good explanation? Can't they just say I lucked out and the burden of proving insider trading would fall on the SEC? Innocent until proven guilty right?
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hotpotamus ◴[21 Sep 23 18:18 UTC] No.37601689[source]▶
They could probably just tell the SEC, "I think you're a bunch of stupid doodooheads" and see how well that works.
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briffle ◴[21 Sep 23 18:25 UTC] No.37601817{3}[source]▶
Works great if your rich enough.. Maybe they will go private at $420 a share.....
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1. hotpotamus ◴[21 Sep 23 18:33 UTC] No.37601973{4}[source]▶
I've been downvoted here before for telling people what Musk says SEC stands for. But this guy didn't make plutocrat money off the trade, so he should watch his back for sure.