Optionsellers.com goes bust and the apology video is painful to watch

Discussion in 'Wall St. News' started by Sweet Bobby, Nov 17, 2018.

  1. JSOP

    JSOP

    He does not look the type who's got the acquired taste (for some) to go to China and he has too much pride and taste to buy counterfeit. This guy is about pursuing the finer things in life, the French Riviera, bass fishing, exquisite Cuban sandwich... Buying counterfeit are for the practical and the tasteless
     
    #251     Nov 20, 2018
    kinggyppo likes this.
  2. sle

    sle

    I know what happened, lol, I saw it. Then I wanted to share with a friend of mine who is an energy PM and it was taken down.
     
    #252     Nov 20, 2018
  3. JSOP

    JSOP

    All he had was just high leverage. That's not an Alpha. LOL
     
    #253     Nov 20, 2018
  4. JSOP

    JSOP

    I mean it's been reposted 3 times on Youtube after it was taken down. Hope your friend was on the long side and made a killing.
     
    #254     Nov 20, 2018
  5. sle

    sle

    He thought he had Alpha. Turned out to be just Beta. He was short Gamma. Yet he wore an Omega :D
     
    #255     Nov 20, 2018
    MACD and kinggyppo like this.
  6. prc117f

    prc117f

    Wow did anyone see those spreadsheets. As i thought a shit ton of otm feb calls. What a horrid trade, he was collecting premiums like 5 cents a contract but sold a shit ton of them barely any theta decay. Basically wait until expiration to close out.

    He exposed himself to bigtime vega risk for so little reward and he had to sell so many for the measly premiums. That is total gross negligence he should know better. Those positions are total amateur hour. He never gave a shit putting his clients at enormous risk since he has no skin in the game. Did his clients see these spreadsheets? I guess it did not raise alarms for them.
     
    #256     Nov 20, 2018
    MACD and kinggyppo like this.
  7. JSOP

    JSOP

    And he never even knew Theta when Vega killed him. :)
     
    #257     Nov 20, 2018
  8. JSOP

    JSOP

    No. Do you have the link? Wonder who posted them?
     
    #258     Nov 20, 2018
  9. sle

    sle

    Ah, juicy! Do you have a link? It would be really interesting to see what exactly happened!
     
    #259     Nov 20, 2018
  10. JSOP

    JSOP

    Wait until it goes onto mainstream news, ABC, NBC, CBS, Fox News. It would definitely be on CNBC.
     
    #260     Nov 20, 2018