Comment: Regarding stock options

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Regarding stock options

This is applying hindsight in a fairly dramatic manner, and it’s also leaving out crucial information: the American puts followed the trading day after the company had released a major profit warning, when you’d expect investors to believe the shares had further to fall, and the United Airlines trade volumes were lower than the spikes that occurred in March and April. If a United Airlines spike of 8,072 in March didn’t suggest an imminent attack, then why should 3,150 puts in September have any more effect?