nsight reported that there were repeated spikes in put options on American Airlines during the year before Sept. 11 (June 19 with 2,951 puts, June 15 with 1,144 puts, April 16 with 1,019 and Jan. 8 with 1,315 puts). In the same period, United Airlines had slightly more action (Aug. 8 with 1,678 puts, July 20 with 2,995, April 6 with 8,212 and March 13 with 8,072).Fact 8) Stock Profits From Airlines.
Unidentified insiders made millions from the stocks of American and United Airlines.
These "put options" were made just prior to 9/11.
the American puts followed the trading day after the company had released a major profit warning, when youd expect investors to believe the shares had further to fall, and the United Airlines trade volumes were lower than the spikes that occurred in March and April. If a United Airlines spike of 8,072 in March didnt suggest an imminent attack, then why should 3,150 puts in September have any more effect?