How a trader just made $2.4 million in half an hour

I wonder how. Who can do it?

How a trader just made $2.4 million in half an hour

http://www.forexfactory.com/news.php?do=news&id=533262#post8174677

Sounds like insider trading...

Was he trading his own money or should he have lost somebody else would pay? It makes all the difference.

People never learn ..... just like me

This is a typical insider trade. No doubt about it and by exposing him/herself for scrutiny by telling the media, he/she will soon cough out the millions made!

Note: if you do inside trade, REMAIN inside!!

Just my 2cts.

Give the guy a break, he might well just specialise in that one stock and have been in the right place at the right time. The article says within seconds. The option writer may not be as on the ball as this guy which means he made a very good move.

I am happy for the guy and just hope that the contract expires(expired) at such a nice profit.

It does however keep the worm on the hook for all of those with stars in their eyes.

insider trading? cut it out people! if he lost the same amount would you have thought the same way?

some people are in the trading INDUSTRY some others are in the trading BUSINESS,find out the difference.

If it were this easy, why do we read this? Why does the writer write something that can be done by 1st grade kid?

It's still a paper profit.

I wonder How many people lost 1 Million in a Day during the past year.... The news don't tell the story of the how many lost (only the wins) ...

AGREE...

Inside knowledge and insider trading are (legally) two very different things. if the trade was entered after that tweet, there is a (legal) argument that the information is in the public domain.

irrespective of whether there is a bit of a whiff about it.

I'm pretty sure it is a bot and he found someone saying something on the internet. Although, I'm not sure of when something like that becomes "public" knowledge- IE if someone from the company says something and it is not yet "public" is the fault on them then or on you? Is the fault on the guy who was scraping the internet and just picked something up or is it on the person in the company. Hmm.

No such thing as insider trading in options. That's why they trade options and not the underlining stock.

"Within seconds, a trader jumped into the options market and bought 3,158 contracts of the April 36-strike calls priced at about 35 cents."

Sounds dodgy to me.
1. Who is Dana Mattioli and how did she get this information before the market?
2. When didi Dana Mattioli get the information, and who else did she discuss it with before she tweeted it? What was the "chain of custody" of this market-sensitive information?
3. Was the trader concerned "tipped off" by Dana Mattioli, or somebody else, and just sitting there waiting for the data to first become public?

Within seconds? Sounds like he was ready.

You guys are so simple minded.... Based on what the article mentions the trader bought the contracts AFTER the news was released. That in no way is insider trader, as for it to be insider trader the trader would have had to bought it (frontload) prior to the news being released.

I just wonder whether it's a real story or not!

Given the trade was made after the post, the " information" was in the public domain. Further the information was not posted by Intel nor Altera, it was a rumor. While easy to be critical, this is not front running.

this is consider 'arbitrage trading'....knowing the news and placing a trade milliseconds before the actual market move....It's an illegal trading behavior in most of the brokers...he needs to check there terms and conditions!!!

Again...trade placed after the news.

It's difficult to understand options but if a trader can master it he can have a high artio of winning trades.

That's what news algo and hft have been doing. It's not illegal.

Why does this suprise you. Anyone who has done any real trading knows that under the right circumstances fortunes can be made and lost in seconds. There was nothing illegal going on here..

Well, he will probably have a downturn later this year , we do know that all of us ! ;-)

Did some of you guys even read the article?
He saw the tweet and reacted within seconds, buying 3,158 contracts.
Simple as that. Nothing to do with insider trading.

Some people just too lazy to read the article

Who know the trader name? What's trading strategy did he used?