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Granted the internal policy might be more detailed but I've read https://abc.xyz/investor/other/google-code-of-conduct/

It talks about not allowing "hedging Google stock".

To me it means "you can't short Google stock", which is reasonable. It would be really fishy for an employee to bet on failure of the company he works for.

It doesn't mean "you can't buy call options on Google stock", which would be unreasonable.




Here’s the quote from the document you linked:

> You should familiarize yourself with Google’s Insider Trading Policy. It describes company-wide policies that address the risks of insider trading, such as a prohibition on any Google employee hedging Google stock; and periodic blackout windows when no Google employee may trade Google stock.

The quotes gives hedging as an example of prohibited conduct and recommends reading the internal policy. The parent comment is from someone who read the internal policy. What more do you want, the internal policy to be leaked in full?

Employees of tech companies with a somewhat open culture can often make inferences about the company’s performance before financials are released. The SEC investigates when people make suspicious gains from options trades. Companies don’t want that kind of attention. Rather than try to define the exact parameters of what kind of trade is risky, it’s easier to just ban them as a rule. This may seem unreasonable to some, but it appears to be a common practice.




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