EVD-132
Poteshman 2006: unusual put-option volume on airlines before 9/11
academic paperacademicauthenticoriginal
Provenance
- Source
- Allen M. Poteshman, 'Unusual Option Market Activity and the Terrorist Attacks of September 11, 2001,' Journal of Business 79(4) (2006)
- Date
- 2006-07-01
- Page
- Journal of Business 79(4), 2006
- SHA-256
- 3dc0deee1106bfc17420e47db82011a35fdb9c55257fb45a424e157254f34a2e
- Classification
- unclassified
- Copyright
- fair use research
https://www.jstor.org/stable/10.1086/503645
Quality 2.88 / 5components retained
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Observation
A peer-reviewed study found statistically unusual pre-attack put-option activity in airline stocks.
Interpretation
Supports 'someone in the market was positioned.' Does not identify who or that they knew the plot.
Source text
OBSERVATION: A Journal of Business paper measures abnormal put-call activity on airline stocks before the attacks. The Commission/SEC (EVD-118) found no profits by people with advance knowledge of the plot. Those two statements can coexist: unusual activity may be hedge-fund positioning, rumour, or unidentified informed traders. H012 remains possible, not demonstrated as al-Qaeda or U.S.-official trading.
Hypothesis linkage
Peer-reviewed unusual put volume.