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Saudis are trying to pull an Amazon. Operate at a loss as long as it takes until all your competitors go out of business...and then end up having the lion's share of the market.

Looks like 90% of Parplus Partners capital was Ronin/Stafford's. So Ronin may have lost $100M+. Ownership team - last updated 2019-03-29 Name Title Start Date Direct/Indirect % Ownership Stanton, John, Cressy CCO 02/01/2017 Direct less than 5% CARNEY, JAMES, W CEO 02/01/2017 Direct less than 5%...

You can only lose that kind of money if you're short options and they blow up in your face. Maybe they took a shot and sold upside VIX calls thinking they were protected with their long VIX position, which was the hedge against their long index/equity position. The unimaginable losses on the VIX...

It's also possible that Ronin took on a bigger stake than their initial $13M in Parplus. ABN AMRO Clearing took a $200M hit. So maybe the total losses were like $320M - $350M of which ABN AMRO had to cover $200M. Ronin could have easily had a much bigger stake in Parplus, which only had 3...

Summary: The founder of Parplus Partners, James Carney, had a prop group (called Wolo Capital) that was backed by Ronin from 2009 to 2017. He launched his own hedge fund, Parplus Partners, which Ronin took a $13M minority stake in (beginning of 2017). As of March of last year (2019) Parplus had...

AUM: https://whalewisdom.com/filer/parplus-partners

More juicy info: https://www.abalert.com/search.pl?ARTICLE=172360&SEARCH=&PAGE=19&PROPERTY=

Finally found something. The founder of Parplus Partners had a partnership with Ronin. It's his startegy that blew up the firm. https://www.sifma.org/people/james-carney/

No mention of a Ronin connection with Parplus: https://www.institutionalinvestor.com/article/b1jr5w7t6s9r4n/This-Hedge-Fund-Won-t-Take-Management-Fees

$200M - $250M are some pretty scary losses for a firm the size of Ronin.

Asked some ex-Ronin traders if they knew anything. They don't know what is going on either and haven't heard from anyone. Downtown Chicago is completely shut down, so Ronin guys probably couldn't even go in if they wanted to, and the trading floors (CME & CBOE) are probably finally closed for...

https://ak5.picdn.net/shutterstock/videos/3672125/preview/stock-footage-two-attractive-female-financial-traders-are-working-in-a-busy-office-filled-with-computers-they.webm Now that's a unicorn...

The VIX settling unchanged at 61%+ on the biggest one day rally in history for the DOW is an ominous sign, and tells you that the bottom is not in yet. Peak-to-trough SPX correction in 2008-2009 was over 50%. We need to see 1700 (-50% from Feb 19 highs) in the S&P 500 and a new all-time high in...

How have the other premium sellers (only sell options) been doing? Jeff Bishop (#1 options trader in the world), Option Alpha (Kirk Du Plessis), and the M3 butterfly guy - John Locke. Probably pretty good with the VIX crashing from 80+. But they probably got fleeced today with the big move and...

Sosnoff and Tasty Trade...one trick ponies. Now that vol has probably peaked, their simple-minded strategies should probably start working now.

WTI (CL) Future outrights and calendars

Looks like Ronin's website no longer has any content or contact info. They had a really nice setup (70,000 square ft) with a full-time gourmet chef, gym and personal trainer for their traders. Heard they spent like $25MM building the space out back in 2010. Rival Systems spun off from Ronin in...

If one rogue profit center loses $50 to $100 million and blows out the whole firm, no chance Ronin is honoring their 60/40 deal with you.

A lot of groups started shorting the VIX when it went to 30, got stopped out at 50...shorted again at 60...and then stopped out or liquidated when it reached 80. Chicago prop groups that like to be short premium (which usually works 99/100 times) are blowing out left and right. Buying VIX...