A day before an assassination attempt on Trump, Texas-based financial planning firm Austin Private Wealth, LLC purchased put options on 12 million shares of DJT Media. This is the firm's largest short position ever, accounting for 6% of the total shares and more than 16% of DJT's available shares.
The timing of this move is particularly notable, occurring just before the Republican National Committee (RNC) event where Trump's nomination was expected to boost DJT stock. Market watchers were already anticipating a rise in DJT shares following President Biden’s debate and interview performances.
Adding to the intrigue, Austin Private Wealth amended its filing on July 16, removing its put option on DJT. The firm stated the original filing was erroneous due to a third-party provider applying a multiplier that increased the share count by 10,000 times for all option contracts, not just DJT.
The unusual timing and scale of the put option purchase, followed by the correction of a significant error, casts a shadow over the firm's activities.
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