While most insider trading cases involve sums of money that are in the tens of thousands of dollars, the SEC has announced the filing of a case involving trades in out of the money call options on Reebok, where the Commission alleges that the defendant has over $2 million dollars in profits.
The case is interesting since the options were purchased on August 1 and 2, with the take over announcement coming on the 3rd. The options were sold, and over $800,000 was transfered out of the account to a bank account maintained in Austria.
