A friend of mine(working a lets say X company) recently traded(and lost money) on an call option(of his company) via Robinhood. Is that person violate insider trading rule? If yes, what’s the best course of action now?
Depends. Did he break insider trading LAW, or just insider trading company policy? There’s a difference
I dont think that should be any issue.
Most insider laws basically prohibit trading with insider information. If you have such information (usually us grunts DO NOT), just trade after quarterly earnings reports. If you really want to be on the safe side, post that you're executing this trade 30 days in advance on Twitter.
“Believe it or not, straight to jail!”
Maybe try Stonk call options next time. Stonks only go up.
It's ok if he loses money, but if he wins money he could lose his job
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I’m sure no one will care to prosecute you for losing money