In my previous post about the 10th Anniversary of 911, I mentioned how the invasion of Afghanistan was planned during 105th Congress meeting three years before the attacks of the WTC Twin Towers on 11 Sep 2001. 911 10th Annivesary: Remembering the Lies (Part 1)
In this post, we will look at how the FBI, CIA and other anti-terror agencies did not follow up incriminating leads on foreknowledge pertaining to the terror attacks.
One of the first reported incidents of anomaly after the Twin Tower Attacks was that there was an extraordinary high volume of purchase of put options on American Airlines (AA) and United Airlines (UA), the two carriers whose planes were hijacked, days prior to 11 Sep 2001. This indicates foreknowledge, as it appears the investors were ready to profit from the drop in stock prices of the two said counters.
Quick Intro to Options Trading -
An option is a derivative. It takes its price from an underlying stock. Unlike stocks that truly exist, options are synthetic (man-made). This means that while there are limited number of stocks, there is technically no limit on the number of options available to investors. The Exchange can create any number of options it wills. This is unlike stocks where if there are no sellers, the buyers cannot buy.
This characteristic of options, where the supply can be artificially created by the Exchange, supports my counter-argument why I feel that critics against this case of “high volume of put options purchase as indication of foreknowledge”, have got their argument wrong. More on that later.
Understanding Options can be quite technical. I won’t try to explain it here. You can read it yourself if you have the time here – Options Basics: Introduction
Putting things simply, you purchase a “call option”, if you expect the underlying stock price to rise in the near future. Conversely, you purchase a “put option” if you expect the underlying stock price to fall in the near future.
Days before 11 Sep 2001, put options for the underlying stocks of American Airlines and United Airlines, the two carriers whose planes were hijacked, were purchased in extraordinary high volumes. This indicates that the investors involved had intention to profit from the expected fall of the prices of the stocks for American Airlines and United Airlines, which was not known to the public – yet.
Questions that need to be asked -
- Who were the purchasers of these put options?
- How did they know that the prices of the two carriers will fall drastically?
- Why does not the FBI, CIA and other anti-terror agencies follow up on this incriminating lead?
One of the earliest reports that followed the WTC Attacks was the possibility of insider trading, when the above options were purchased in high volumes days before the attacks itself. Here is a summary of the options purchased.
Pre-9/11 Put Options on Companies Hurt by Attack Indicates Foreknowledge
Financial transactions in the days before the attack suggest that certain individuals used foreknowledge of the attack to reap huge profits. The evidence of insider trading includes:
Huge surges in purchases of put options on stocks of the two airlines used in the attack — United Airlines and American Airlines
Surges in purchases of put options on stocks of reinsurance companies expected to pay out billions to cover losses from the attack — Munich Re and the AXA Group
Surges in purchases of put options on stocks of financial services companies hurt by the attack — Merrill Lynch & Co., and Morgan Stanley and Bank of America
Huge surge in purchases of call options of stock of a weapons manufacturer expected to gain from the attack — Raytheon
Huge surges in purchases of 5-Year US Treasury Notes
Note that reinsurance companies that were expected to payout insurance claims, as well as companies that were housed at WTC, also had high volumes of purchase of put options days before 11 Sep 2001, indicating the investors had prior knowledge.

Note – “unknown investors” refers to the undisclosed identities of the investors who profited from the WTC Attacks. Under the rules of the Exchange, you cannot buy options anonymously.
The Big Question is, why are investigators hiding their identities?
Countering Criticisms of the Foreknowledge Argument -
Critics are quick to argue that high volume purchases itself does not mean foreknowledge. While that may be true, I feel that such argument is weak because:
1. Why did these investors purchase put options of only AA and UA and not other airline counters? If there was reason to believe the airline industry was going to be hit economically, why were put options of other airline counters not bought?
2. If there was a reason to believe that AA and UA stocks would drop, why only put options of those underlying stocks were purchased in high volumes? Wouldn’t the news that caused the high volume purchases also cause the underlying stock prices themselves to fall drastically BEFORE 11 Sep 2001, because stockholders will also try to dump them? But the stock prices didn’t! (See the illustration above.)
3. Earlier, I mentioned that the options market is synthetic. I also said that this fact supports my counter argument against critics that the high volume put option purchases of AA and UA were indication of foreknowledge. Stocks, unlike options are limited. This means if there are no sellers, buyers can’t buy. Options can be created to fill ANY number of buyers if the Exchange so wishes. What it does is to make the options more expensive to buy, using its complex price formula. In spite of this, some investors were still willing to pay the overpriced options. This means that the volume of put options purchased was truly a reflection that the investors who purchased those options then did believe the stock prices of AA and UA would fall, and it was not just a “market reaction”. If it were market reaction, stock prices of AA and UA themselves would fall drastically (before 11 Sep 2001) because now that would be a case of more sellers than buyers, unlike options. So why the anomaly?
4. Other affected non-airline counters that had high purchase of put options also indicated foreknowledge. They were re-insurance companies and companies that had offices housed at the WTC.
Critics who are of the view that there were market reasons for investors to buy put options of AA and UA in high volumes a few days prior to 911, have failed to address the above issues.
FBI and CIA did not follow up on this incriminating lead -
Perhaps the most astonishing thing is that the FBI, CIA and other anti-terror agencies did not take up this very incriminating lead. Even if you were to argue that the purchase of the put options were not out of the ordinary, surely it warrants an investigation?
You can’t buy options from the Exchange anonymously. That means it would super easy for investigators to find out who purchased those options in huge numbers. So why didn’t investigators follow it up? Where are the results of the reports of the investigation? Why the hush hush?
Summary -
- Put options of AA and UA were purchased in extraordinary high volumes days before 11 Sep 2001. This indicates foreknowledge and the investors were prepared to profit from the disaster.
- The anti-terror agencies did not follow up with this very incriminating lead, or if they did, kept its investigations under wraps, away from the public. Why?
- Critics who claim that the purchases were not out of the ordinary fail to explain that if the put option purchases were expected because of market news, why didn’t the underlying stock prices themselves fall in tandem with the high volume of put option purchases, a few days prior to 11 Sep 2001.
Conclusion -
10 years after the WTC Attacks of 911, the public has still yet to get a full report of the investigation. All we get are justification for the US to invade, pillage and usurp land of others.
The main agenda of the “war on terror” is nothing but OIL. But if the US said that it needs to invade lands of other because of OIL, it would get no support. So the US needs a justification for that.
911 fits into that jigsaw perfectly.
Next up in Part 3 – BBC reports the collapse of WTC7 before its actual collapse. Looks like someone read the scripted news a little too early. Oops! More signs of foreknowledge?