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

[Overnight]

How can you be sure that's her real pic? You put your real pic as your online profile/avatar pic?

That is why I typed in "assume". One does have to employ a little logic to speculate motivations. Why would a real 20-30 YO person post a pic of an elderly person in it's place when delivering that comment? And why would a 20 to 30 YO be married to a 90 YO? (Well, we can speculate on that as well.)

In any case, I declare BS on that one. If it was true, I'd send them a twit and ask if they'd like to invest in my new distribution models of analog $.01 weight scales to mom&pop drug stores like they had 40 years ago everywhere.

I think they are going full retro and will be making a HUUUUGE comeback, like bell-bottoms did, somewhat. Risk-free money.

 

[JSOP]

I agree, I think it is fake news, but c'mon man don't kill the fun!! On the other hand, you have to think about how uneducated his clients were about options. I mean one look at that spread sheet would have any reasonable investor running for the exits. So I would not be shocked if he actually did have some questionable clients.

To their credit, that spreadsheet was probably posted after the fact so those clients wouldn't have seen that beforehand. I truly believe they were duped in letting him trading those futures options for them. And I still think the average account size is $1 million.

 

[prc117f]

Here is the prospectus. why would a 90 year old put his entire nest egg in this shit. They must have not read any of the prospectus or at least looked at the first page.

Terrible all around but a lot of people made stupid decisions as well I mean anyone at 90 years old should have avoid that fund.

Oh and look at all that risk for so little return holy shit the worst of both worlds.

 

[JSOP]

That is why I typed in "assume". One does have to employ a little logic to speculate motivations. Why would a real 20-30 YO person post a pic of an elderly person in it's place when delivering that comment? And why would a 20 to 30 YO be married to a 90 YO? (Well, we can speculate on that as well.)

I said not ELDERLY, I didn't say 20-30 years old, you assumed that. LOL There is a whole range of age from 20-30's to elderly, you missed like 30 years in between there. LOL And even speaking of 20-30 year old marrying 90-year olds, Anna Nicole-Smith did, Crystal Harris almost did to Hugh Hefner and later had cold feet, Stormy Daniels wanted to I am sure, to Donald Trump... Never see never about 20-30 year old wanting to marry 90-year old dudes.

 

[JSOP]

Here is the prospectus. why would a 90 year old put his entire nest egg in this shit. They must have not read any of the prospectus or at least looked at the first page.

Terrible all around but a lot of people made stupid decisions as well I mean anyone at 90 years old should have avoid that fund.

Oh and look at all that risk for so little return holy shit the worst of both worlds.

That is not a prospectus, just a monthly report but still, hey look, 168% return since inception!!!!

 

[prc117f]

I could not upload the other file too big 4.4mb but here is more stuff. Interesting. He makes it sound like he is actually managing risk but there are red flags that say otherwise in this prospectus. I am surprised people looking at conservative investing actually went through this and thought it was a great idea.

 

[JSOP]

I could not upload the other file too big 4.4mb but here is more stuff. Interesting. He makes it sound like he is actually managing risk but there are red flags that say otherwise in this prospectus. I am surprised people looking at conservative investing actually went through this and thought it was a great idea.

Where did you get these? Are those statements for real??!!

 

[Overnight]

I said not ELDERLY, I didn't say 20-30 years old, you assumed that. LOL There is a whole range of age from 20-30's to elderly, you missed like 30 years in between there. LOL And even speaking of 20-30 year old marrying 90-year olds, Anna Nicole-Smith did, Crystal Harris almost did to Hugh Hefner and later had cold feet, Stormy Daniels wanted to I am sure, to Donald Trump... Never see never about 20-30 year old wanting to marry 90-year old dudes.

OMG, someone throw a raw turkey at JSOP! Roffle. I did not say 20 YO marrying 90 YO didn't happen, I was saying we could only speculate about the reason why they do.

And in my mind, elderly hits at about 70 YO. Just my own judgement system about elderly.

Now I think I am totally confused. I blame JSOP. After all, J(SOP), and SOP is short for selling options, right? hahaha!

Oh, wait, Overnight means holding overnight. So holding bad SOP Overnight is REALLY bad. Damn! We are both guilty!

 

[BLR18]

We were assured that the risks were controlled - that was the entire sales pitch. Vertical spreads, ration credit spreads, very far OTM options at very distant dates, as well as other risk control measures. Said we were actually reducing our risk because this strategy allowed us to further diversify (diversify within the commodities markets which were uncorrelated and offer diversification from the stock market). People who trusted him were not looking for huge payoffs - the exact opposite.

We did extensive research on the guy and really couldn't find anything negative. There was a complaint filed several years ago, but they handled it very well and pretty much made the guy whole. We also read about the issue they had with Peregrine exchange that impacted him years ago but he assured us that we would never have that problem with FC Stone, etc.

How do you suggest I go about finding other victims of this debacle? I'd like to form a group so we can discuss how to proceed.

PJB1994, my husband and I were also clients of Option Sellers.com (to verify this, we just received our final statement of EVENTS from Option Sellers.com at 3:05pm CST today- their detailed explanation of how this situation occurred. I'm sure you just received one also). Like all their other clients we lost everything in our account and now owe a VERY substantial balance. I am not an "Elite Investor," or by any means qualified to discuss option buying or selling. My husband is the investor in the family. He's at work right now. I found this forum while look online last night. You said you were interested in forming a group to discuss how to proceed. How do we get in touch with you? Thank you.

 

[Overnight]

I could not upload the other file too big 4.4mb but here is more stuff. Interesting. He makes it sound like he is actually managing risk but there are red flags that say otherwise in this prospectus. I am surprised people looking at conservative investing actually went through this and thought it was a great idea.

Jeez, I see those statements. If those are real statements, than I certainly do not know shit about options.

One thing I notice is that he wasn't just mucking about with energy ops, he was also trying to hedge gold and silver. But what is with the differences in quantity between the calls and puts? They were all bought, which I guess is better than selling them? But those strike prices seem so out of whack?

Can someone explain the statements, especially page 2, for us non-option peeps? Fascinating.