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Who made money off SEC/Goldman Sachs announcement?

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By Michelle Malkin  •  April 21, 2010 09:41 AM


Hmmm…

Reader Daryle wants to know. He e-mails:

On Friday tens of millions of dollars, possibly hundreds of millions were made or lost on Goldman Sachs stock and options.

Friday was option expiry which meant puts and calls, the right to sell or buy Goldman Sachs stocks at preset prices expired. Goldman Sachs puts – the right to sell stock at a set price – increased at some strike prices by more than a hundred fold.

The SEC announcement cause this to happen in the space of two hours. At 12:00 pm Friday trading in April puts and calls ceased trading. Those who sold calls or bought puts before the announcement made big money.

Somebody made at the least tens of millions, probably a lot more because of the announcement.

It would be interesting to know who they were and what they knew in advance.

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