World's Greatest Options Trade: Bear Stearns Puts

Finally, it appears the regulators are starting to use common sense and going after the low-hanging fruit. The issue concerns certain options trading that was done in Bear Stearns puts days before their ultimate collapse. Bloomberg has a great story that outlines the details. Basically, the regulators have figured out that by examining options trading right before the event and identifying options trades that are truly outside the realm of even a lucky investor, they may find culprits who had some inside knowledge of a scheme to take Bear down.

Is it pathetic when you root the regulators for finally clueing in?