BANKING & FINANCE - July 17, 1991
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From Times Staff and Wire Reports
Banks Option Sales Soared Before Announcement: Trading volume in Manufacturers Hanover Corp. and Chemical Banking Corp. stock options shot up late last week, before the banking giants announced plans to merge. The extraordinarily large number of options traded suggested the possibility that some investors may have used inside information to make a profit. But officials at the American Stock Exchange and the SEC declined to comment on whether the surge was under formal investigation.
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