Discussion in 'Wall St. News' started by a529612, Aug 4, 2006.
Is this a potential landmine here?
The press release is great. The fifth largest market maker in terms of volume at the NYMEX. Volume doesnt matter if the trades are crap, every energy trader learned this in 2001-2002. I think this will effect the options market because Conrad Goerhl, a principle, was a deep out options guy in the natty options pit. He got fined then I believe banned for bad settlements. He sells every put in sight at got worked on the last dump.
They said they'll start to unload on Monday. Do you think this will put pressure on energy market?
In terms of what?
Conrad hasn't ever been fined or banned. Selling puts wasn't their problem, they were on the wrong side of numerous spreads over the past couple months and being on the wrong side of the H/J NG spread the past week was the final bullet.
No. It's a long process, will take months, not days.
Conrad hasn't ever been fined or banned. Selling puts wasn't their problem"
Conrad was fined in 1998-1999 and kicked off the natural gas settlement for settling back months way out of whack. He was issued a fine for this. I guess I could be wrong but I was trading the back months in that ring when it occured
Ive heard about the positions you speak of and some nasty OTC options positions.
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