Austin Private Wealth, LLC, a Texas-based financial planning company, is being scrutinized after a social media post went viral that claimed they had put options on as many as 12 million shares of DJT shares just one day before the assassination attempt on Donald Trump.
The investment firm denied the allegations and has now blamed a filing error for this controversial action.
A Put Option is an investment made by someone who expects a company’s Stock Price to fall. People who engage in Inside Trading buy Put Options can make 5X or, sometimes even 100X profits (depends on how quickly the stock plummets).
If Trump did die in the assassination attempt, his company would have become worthless. It’s stock would have become Zero in a day. The people who bought Put Options would have made billions in profits.
Another interesting thing about the amendment filed on 7/16 is that it is the only one they have ever had. I searched and their first filing was on 2-12-2020.https://t.co/VX7cWFhDC4
— Champagne Joshi (@JoshWalkos) July 18, 2024
To make things even more interesting, my source tipped me off with the following two images from their Bloomberg terminal. The screenshot on the left shows the Put by Austin Private Wealth LLC, that was taken earlier this morning. It shows the 120,000 puts. As you can see their position is by far the largest, the next closest is Citadel Advisors with 16,770.
Here is where it gets interesting, the screenshot to the right was taken later in the day and poof, Austin Private Wealth LLC is nowhere to be found. Why?
On July 16, the firm amended the filing.
According to Josh Walkos, “Another interesting thing about the amendment filed on 7/16 is that it is the only one they have ever had. I searched and their first filing was on 2-12-2020.”
AUSTIN PRIVATE WEALTH DENIES THE STORY:
The SEC filing which showed that Austin Private Wealth shorted a large number of shares of Trump Media & Technology Group Corp (DJT) was incorrect and we immediately amended it as soon as we learned of the error.
No client of APW holds, or has ever held, a put on DJT in the quantity initially reported. The correct holding amount was 12 contracts, or 1,200 shares — not 12 million shares, as was filed in error. In submitting the required report for the second quarter of 2024, a multiplier was applied by a third-party vendor that increased the number of the shares by a multiple of 10,000 for all options contracts (not just DJT). We did not catch the error before approving the filing
1 comment:
“We did not catch the error before approving the filing”
Or regrets after failed attempt
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