Commodity Options Scheme Fetches Trader $600,000 Fine
- Market Wrap: CPI Outpaces in Sept.; Regulus Ramps on RG-101 Data; AT&T Trims Outlook
- AT&T Inc (T) Misses Q3 EPS by 1c
- After-Hours Stock Movers 10/22: (SCSS) (TSCO) (INFN) Higher; (AIRM) (ADHD) (YELP) Lower (more...)
- Yelp (YELP) Tops Q3 EPS by 2c; Issues Light Q4 Revs Outlook
- Family of Ebola infected nurse Amber Vinson says doctors are 'no longer able to detect virus in her body' - CBS
A trader was hit with a $600,000 fine and banned from trading for engaging in a scheme to avoid margin calls when placing orders on commodity options on the NYME and the CME. The CFTC accused Kent R.E. Whitney of perpetrating margin call avoidance by using out-of-the-money options, which have no intrinsic value. He is also being accused of making false statements to the CME and others.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: GT Advanced Technologies (GTAT) attorney says consensual accord with Apple reached - Bloomberg
- GT Advanced Technologies (GTATQ) Added to Nasdaq Threshold Securities List
- UPDATE: Crude Inventory 7.1M Barrels vs 2.8M Expected
Create E-mail Alert Related CategoriesCommodities, Trader Talk
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!