Discussion in 'Options' started by weewilly, Mar 5, 2004.
front month vols shot up to 123 on the plunge......
Martha did NOT steal anybody's money. She "saved" some $46,000 (when selling IMCL) and lost $700 million of her net worth.
I can name at least two dozen market makers and specialists who should be in jail right now - for outright fraud.
Have a great weekend!
I wouldn't say it's bye-bye, at most she may get a few of months in jail and a fine, and not some hard nose prison either. The money involved in the stock sale wasn't millions of dollars, so she won't get that much.
Thats what happems in a at best semi liquid stock;
puts & calls magnified it also.
Martha probably had better sense than big % of net worth in a stock like that.
Martha was an easy target. It fed into the mentality of her client base -- all those who buy her stuff at K-mart. She was a great merchadiser.
How about Ken Lay. This guy may well be behind so much in many millions in losses and fraud, not to mention the loss of jobs. His crime is so much greater than a stupid stock deal with a two bit broker. He has been charged with nothing. He will spend no time in any jail for sure.
Separate names with a comma.