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> Also staking 2.5M is "small change" for true insiders. Why? A secretary or janitor or a intern could also be an insider. Or are they No True Scotsmen?
by eru 2y ago
> Also staking 2.5M is "small change" for true insiders.
Why? A secretary or janitor or a intern could also be an insider. Or are they No True Scotsmen?
- svg7 2y agoYes, in theory, anyone can be an insider. But folks up in the chain are much more likely to be "insiders with information". I should have probably said "very rich insiders" instead of "true insiders."
- DeathArrow 2y ago>Why? A secretary or janitor or a intern could also be an insider. Or are they No True Scotsmen? I thought the article itself and comments here presume bad faith on behalf of the highest ranking officials.
- eru 2y agoYes, sorry, I was only replying to the general point. About the specifics we have here: It's sad that the highest ranking officials are willing to corrupt themselves over a few million here or there. (And that's already pretty high by corruption standards. Usually you here of even much lower bribes etc being enough.) To be pithy: I'm not angry that you can buy officials and politicians. I'm angry that the price is so low.
- TheAlchemist 2y ago2.5M on 0 day options is not small change at all, even for somewhat big players. 0 day - means it's a win big or loose 2.5M on a single day move.
- eru 2y agoIs it 2.5M notional (that's not necessarily a lot, especially if the options aren't (much) out of the money), or 2.5M premium paid?
- TheAlchemist 2y ago2.5M premium paid
- ascorbic 2y agoThat was just one of many trades. The follow-up has deatils of many more https://data-and-politics.ghost.io/this-is-what-insider-trading-looks-like/ https://data-and-politics.ghost.io/this-is-what-insider-trad...
- eru 2y agoSorry, I was just replying to the general point. I am sure there's lots more details for this particular case.