Ethics- Ambiguous effect and Non-Public info about, company, material, something

SkipE99

Standard II - If price effect of non-public information is unknown. Is this considered non-material?
What about options strategies that exploit large movements (i.e. Straddles). Wouldn’t knowing something is going on with a company be considered material in that case?
Thanks in advance.

kd26gioi

If by unknown you mean “neither the direction nor magnitude of market price change can be estimated” then yes, I would think that the information is nonmaterial.

YAhmed

Yes to unknown. Thanks for your quick response.

JustasS

^ Yes. Combine non-material non-public info – mosaic.