Mystery Trader’s Debt-Ceiling Windfall Sparks Insider Concerns

  • Bullish options bet on Equitrans came days before debt deal
  • Firm involved in building a pipeline that was included in deal
Photographer: Benjamin Girette/Bloomberg

The US government’s move to greenlight a 300-mile natural gas pipeline as part of legislation to stave off a Treasury default shocked just about everyone, except for a mystery trader who somehow appears to have seen it coming.

On Wall Street, analysts had mostly expected vague promises on energy permits to be included in a bill to raise the US debt ceiling. Yet, options trading suggests something bigger may have been in the offing.