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News that Hilton Hotels Corp. (HLT) agreed to be bought by Blackstone Group (BX) was preceded by heavy trading in call options that have already yielded big profits for their buyers.
The timing and intensity of the activity has some option traders crying foul, arguing that this is just the latest in a series of deals to be preceded by trading that appeared to be informed by knowledge of an upcoming event.
Send 'em all to jail, I say.
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