When traders made a profit out of the 9/11 Attack
A thread🧵👇(1/7)
#AlQaeda #stockmarkets #invest
Days before the attack, a surprisingly high number of ‘put’ options were purchased on United Airlines and American Airlines stocks (that were hijacked during 9/11).
*Put option: The prices would fall *Call option the prices would rise
On 6th & 7th September 2001, the Chicago exchange handled 4,744 put options for UAL stock compared with just 396 call options. The put-to-call ratio would normally be 1:1 but on that day, it was 12:1.
On 10th September 2001, American airlines’ option volume was 4,516 puts and 748 calls, a ratio of 6:1, based on a check of option trading records.
No other airline stocks were affected; only United and American were shorted in this fashion.
After the terrorist attacks, shares of AMR and UAL plunged 39% and 42% respectively according to sources, which translated into a total profit of over $5 million for the person or persons who bet the stock would fall.
Do you think Al-Qaeda was behind the unusual trading and profited from it?

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