http://www.zerohedge.com/news/2016-...hen-looking-congresswomans-daytrading-records =============================================== Something Strange Emerges When Looking At A Congresswoman's Daytrading Records While we have often heard that members of Congress, who are not only exempt from insider trading oversight, are also ardent daytraders we had never seen it in action. Until now. The following publicly filed monthly Periodic Transaction Report by Democrat Congresswoman, Judy Chu, shows us just how pervasive daytrading is not only for algos, but for those who supposedly are paid to serve their constituents. What is interesting is the size of the trades - between $1,000 and $15,000 each, this is not some novice, penny pincher; what is even more interesting are the underlying securities of choice: volatile, and levered, calls and puts on not only the S&P500, but also on some of the most volatile securities out there, such as the VIX. =================================================
Lol - I like the way the author even has the sheer gall to state "While we would be the last to begrudge Ms. Chu her daytrading largesse ..." when its so obvious from the remainder of the content that the reality of the entire article being written and published arose from exactly that sense of begrudging!
Hillary Clinton know what Cattle are? http://www.washingtonpost.com/wp-srv/politics/special/whitewater/stories/wwtr940527.htm
Look like that congresswoman more sophisticated than Hillary. She is options spreads trader. Look at her net worth grow over the years. Not bad for former teacher.
Don't assume she actually figured out and placed those transactions herself. She is, after all, a former teacher. When you join the club of political elites all sorts of opportunities become available to you. More likely someone else is trading for her in her account. A very common arrangement. Also, The PDF file gives no indication of PnL nor does it give entry/exit prices so we could figure it out. Maybe she was trading herself and losing money constantly like a gambling addiction.
To the kids out there, this is why you need to stop the selfies and youtube videos of shooting fireworks out of your a@@. The career path you should be heading down is political office. You don't want your competitor pulling the skeletons out of the closet when you run for office. The nicest houses in my gated community are owned by county level and some state level govt. officials. Think about that. Obviously their income isn't coming from 40k-60k a year.
Well that's ZH!! Just a bunch of dropout-trader-has-beens that are consistently bearish... Maybe she got lucky in the lottery and won 2 million and gave her nephew retail daytrader 500k to play around with.... Who cares... next!
Nice little kickback scheme going on, probably. It's a true and tried method - one person sells far OTM options (the recipient of the kickback, Mrs. Chu in this case) and another person buys them (the payer of the kickback), except in this case they are doing it with spreads to limit the margin (and probably cap the possible reverse transfer). It's a perfect way to "wire" cash with zero trace and relatively small vig.
Wow ... I'm sure the forum's owner will be entirely comfortable to see a Congresswoman being accused of probable wire fraud or money-laundering, here - I wouldn't think there'll be any potentially adverse legal consequences from that, at all.