Commodity Options Scheme Fetches Trader $600,000 Fine
- Achillion Pharma (ACHN) Reports 4.8 Log10 Reduction With ACH-3422
- Caesars Entertainment (CZR), Caesars Acquisition (CACQ) Enter Merger Agreement
- BlackBerry (BBRY) Posts Surprise Q3 Profit; Reports 100% Sequential Growth in BES10 Licenses
- The Carlyle Group (CG), Warburg Pincus to Acquire DBRS
- Boeing (BA) Inks $6B Deal with Air China for 60 737s
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: American Realty Capital Properties (ARCP) Former Chairman Accused of Manipulating Results
- S&P 500 climbs above record closing level to 2,075.44 (SPY)
- WTI crude oil futures rise 5% in New York (USO) OIL)
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!