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you kno you nothing about me, and I ain't rich.

after the fact... market makers bought them

AS posted here, I've sold oil options short and long term for more than 5 years, vacations and all. Who would think the Saudis' would price their oil 25% lower than the spot price after spending the previous week trying to prop it up. I'm pretty sure I'm not the only one who got ran over

I've had long term naked options on oil for more than 5 years. Never a problem. I don't daytrade. Who would think the Saudis' would drop their price 25% after spending the previous week trying to help prop up the market

On Friday, I had some short put and call options on CL (oil). My acct stood at $112K cash balance, $60K net liquidity and $19K cushion over margin requirements. After what the Saudis did over the weekend, I log into account Monday and all positions closed and I'm -$58K. So a $170K loss. BUT...