My post about the ruination of OptionSellers.com got a huge amount of attention. Traffic to SlopeOfHope.com was bigger on Sunday than any normal day of the week (which explains why it’s been so damned hard to get on the site lately…….). The most common question I heard was: “what exactly were the positions?” I had no idea………until now.
According to my sources, here are the positions they had on: naked short calls (left side) and naked short puts (right side), all on natural gas:
Here is one client’s P/L (well, mostly “L“) over the course of the week with the calls………(click on it to see a readable image):
As well as the puts………..
As you can see, a horrible wipeout, and not something one should sip wine to.