On Oct 21, 2009, at 11:38 AM, Louis Proyect <[email protected]> wrote:
It covers a guy who spent $1.7 million on out-of-the-money put options on Bear Stearns on March 11, 2008. The options would become worthless on March 20, just 9 days later, unless Bear Stearns basically went bust. Bear Stearns collapsed the next day and the guy made a $270 million profit. He has never been identified by the SEC.
I think I remember hearing about this before, but how exactly did the guy make money on this? _______________________________________________
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