Yesterday at 3:07 p.m., a select group of traders received an extraordinary, advance look at Twitter’s earnings for Q1 2015 that were set to be released after the market closed at 4 pm. Armed with the knowledge that Twitter’s below-expectations earnings would almost certainly cause Twitter’s stock to drop, these traders were able to quickly purchase put options and sell call options before Twitter’s earnings were released to the public. According to one estimate, the money made from these puts and calls totaled roughly $80 million.
