Is it insider trading if I bought Boeing puts while I'm inside the wrecked plane(old.reddit.com)
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Is it insider trading if I bought Boeing puts while I'm inside the wrecked plane
https://old.reddit.com/r/wallstreetbets/comments/1935frs/is_it_insider_trading_if_i_bought_boeing_puts/
11 comments
Please provide sources. This contradicts the "avoiding insider trading" course I had to go through at work last month. (and just to be clear, I'm not saying you're the one who is wrong).
IANAL But I'd say, being 'inside a Boeing' is not, legally speaking, the same as being 'inside Boeing'.
Saying that, I don't remember hearing the stewardess during the safety briefing say
"In the unlikely event of a crash, make sure to get them shorts in quick!"
Probably because I usually fly on Airbus.
Saying that, I don't remember hearing the stewardess during the safety briefing say
"In the unlikely event of a crash, make sure to get them shorts in quick!"
Probably because I usually fly on Airbus.
> 'inside a Boeing' is not, legally speaking, the same as being 'inside Boeing'.
Due to mens rea, it’s treated the same. However, if the subject can stick their arm out of the gaping hole in the side of the Boeing aircraft while making the trades, this proves that the information was in fact public and their beneficiaries should not face any legal contest to the profits from the trades as long as the trades were executed prior to the moment of impact.
I am also not a lawyer.
Due to mens rea, it’s treated the same. However, if the subject can stick their arm out of the gaping hole in the side of the Boeing aircraft while making the trades, this proves that the information was in fact public and their beneficiaries should not face any legal contest to the profits from the trades as long as the trades were executed prior to the moment of impact.
I am also not a lawyer.
I don't think that counts as material knowledge.
Wrong kind of inside :)
Even though they have access to information that the rest of the public doesn't, it is still perfectly legal to trade on that information.