Steve Jobs’ (Untrue) Heart Attack – Dead

UPDATE 2: as of 3pm EST the SEC is now investing the article authored by “johntw”.  Have fun sweating bullets johntw!  I hear Mexico is a wonderful place to escape to this time of year…

UPDATE: as of 11am EST the story on has been removed. Instead of offering a retraction of the story and leaving it available for people to review, is covering up the fact that it carried a patently false story.  Way to go… journalism at its finest. See the original article at the end of this post.

Citizen Journalism?  More like another tool for stock market manipulation.

When the unfounded report by user johntw on, CNN’s citizen journalism site, Put options (makes money when a stock falls) on Apple’s stock rocketed up in price.

I received a news alert at 9:44 EDT that Steve Jobs had allegedly suffered a major heart attack.  I immediately started watching AAPL Put options, +QAAVR in particular.  Within a span of 10 minutes it moved from 2.85 per share, to 6.25, then back to 2.90.

Someone, say johntw for instance, the author of this heart attack “report”, bought some Apple put options just before publishing the report.

Options contracts are purchased (usually) in sets of 100, thus someone buying 1 option would pay 2.85 x 100 = $285.  5 minutes later, each one of these contracts would have been worth $625 each.  More than 2x your money.

Not a bad way to make some quick cash, kill the reputation of, and generate a lot of negative publicity and (the parent company).

Here’s my prediction of the day: will be dead due to zero credibility and constant manipulation for personal gains.

Original story removed by

Steve Jobs - Not dead, not even close

(thanks to Silicon Alley Insider for taking a screenshot of the disgraceful post at

A special note for johntw, the “author” of this iReport article: I hope you weren’t stupid enough to post this for purposes of profiting from market manipulation.  It wouldn’t be difficult for the SEC to subpoena for server logs to determine your IP address, ISP, your physical location, your identity, and records from any trading accounts you own.  Or they could simply match up unusual equities/derivatives transactions made before and after the article was published and apply some heat.





5 responses to “Steve Jobs’ (Untrue) Heart Attack – Dead”

  1. Patrick Avatar

    You think the SEC would actually regulate something or take some action in light of the approach they have had concerning the sub-prime crisis?

    I’m surprised this johntw wasn’t an alias for Chris Cox!

  2. Ben Lam Avatar
    Ben Lam

    The sub-prime crisis has so many actors and factors leading to it, it’s difficult to point the finger at a single or even a few entities that could be held responsible.

    The joker who pulled this stunt on the other hand is an easy target. And as Martha Stewart learnt, the SEC likes examples.

  3. Hannah Hall Avatar

    Heart attack could be prevented with exercise, diet and some food supplements like CoQ10..-:

  4. Michael Miller Avatar

    heart attack can be prevented by taking CoQ10 and also Fish Oils:;*

  5. Storage Chest ` Avatar

    heart attact is still one of the leading causes of death“’

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