Is it insider trading if I bought Boeing puts while inside the wrecked airplane? (law.stackexchange.com)

Article summary

The article's content is not available, but the discussion revolves around whether buying Boeing puts while being inside a wrecked airplane constitutes insider trading. Commenters debate the definition of insider trading and its application to individuals with no fiduciary duty to the company. The conversation touches on the complexity of determining what constitutes material non-public information. The discussion is largely speculative, with no clear consensus on the matter.

Main themes

• insider trading
• material non-public information
• fiduciary duty
• enforcement complexity
• public vs non-public information
• industry-specific regulations

What commenters say

• Buying puts on a company after witnessing a public event, such as a plane crash, does not constitute insider trading if the individual has no fiduciary duty to the company.
• Insider trading laws can be complex and nuanced, and enforcement may depend on various factors, including the individual's relationship to the company and the source of the information.
• Having access to non-public information, even if accidentally or incidentally, can still lead to insider trading liability if that information is used to make trades.
• The distinction between public and non-public information is not always clear-cut, and the timing of when information becomes public can be a factor in determining insider trading liability.
• Air traffic controllers and other individuals with professional relationships to airlines or aircraft manufacturers may be subject to specific rules or restrictions on trading stocks related to their industry.
• The concept of insider trading is not limited to individuals with a direct fiduciary duty to the company, but can also apply to those who receive non-public information from insiders or have access to confidential information.
• The determination of what constitutes insider trading can depend on the specific circumstances and the intent of the individual making the trade.
• The line between legitimate trading on public information and insider trading can be blurry, and regulators may use various factors to determine whether a trade constitutes insider trading.