Commodity Options Scheme Fetches Trader $600,000 Fine
- Energy drags Wall St. lower; S&P down slightly in August
- salesforce.com (CRM) Tops Q2 EPS by 2c; Issues Light Q3 Outlook
- Wall Street is Already Looking Past Apple's (AAPL) iPhone 7 to the 8
- Box (BOX) Tops Q2 EPS by 5c, FY EPS Guidance Tops Views
- After-Hours Stock Movers 08/31: (CYNA) (OXM) (OLLI) Higher; (CRM) (SCVL) (FIVE) Lower (more...)
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
- Leon Cooperman Highlights Oil Name Gulfport Energy (GPOR); Sees Oil at $60 in a Year
- Charter Communications (CHTR) to Join S&P 500, Replacing EMC (EMC); Kraft Heinz (KHC) Set to Join S&P 100
- Lands End (LE) September volatility elevated into Q2 and outlook
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!