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

ajacobson said:
Three class-action attornies so far. The sharks are circling.

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OptionSellers.com Investment Loss Recovery
FRIDAY, NOVEMBER 16, 2018


The attorneys at ChapmanAlbin have been contacted by OptionSellers.com investors and are preparing to file claims against OptionSellers.com and/or INTL FC Stone. If you lost money due to OptionSellers.com’s reckless options trading strategy, contact us today at 1-877-410-8172 or email attorney Jason Albin at jalbin@chapmanlegal.com for a free consultation.

CATASTROPHIC LOSS EVENT
On November 15, 2018, OptionSellers.com notified its investors in an email entitled “Catastrophic Loss Event” that it not only lost all their money, but that they would also owe money to Intl FC Stone for margin calls. According to OptionSellers.com, they lost a substantial portion of their investors’ assets due to a short call position in natural gas that, according to Optionsellers.com “was so fast and intense that it overwhelmed all risk measures in place.” It then informed investors that they have a debit balance in their accounts which they need to bring back to zero by paying INTL FC Stone the difference. So, in addition to trying to process the news all their money is gone, they also have INTL FC Stone breathing down their necks demanding they pay the money they owe for its margin calls.

CLAIMS AGAINST OPTIONSELLERS.COM AND ITS PRINCIPALS
Tampa-based OptionsSellers.com touts itself as premier and highly experienced commodities options trading firm. The firm’s president and head trader, James Cordier, explained in a recent interview: “Our goal is to take an aggressive vehicle and manage it conservatively.” Unfortunately, it did not trade options conservatively. It traded “naked” rather than “covered” options, leaving investors subject to unlimited exposure. This unlimited exposure is what caused to lose all their money and more in the last few days. Thus, OptionSellers.com and its principals negligently engaged in a risky trading strategy that was unsuitable for its clients and breached its fiduciary duties to them by putting its interests ahead of its clients.

The Optionsellers.com team includes Rosemary Veasey, Matthew Donovan, James Cordier, Michael Gross, and Alicia Zedella. Optionsellers.com recently went “dark,” shutting down its website and Facebook and Linkedin pages, leaving us concerned about its ability to pay the millions of dollars of claims that are about to be filed against the small commodities trading firm.

CLAIMS AGAINST INTL FC STONE
We believe there are also potential claims against INTL FC Stone, the firm that executed the trades for OptionSellers.com. INTL FC Stone is a large publicly-traded company that was ranked 103 in the 2018 Fortune 500 list of largest United States Corporations by total revenue. We believe INTL FC Stone failed to conduct proper due diligence of OptionSellers.com’s traders including James Cordier and Michael Gross who had multiple complaints filed against them in the past. We also believe FC Stone failed to know its customers, allowing Optionsellers.com to trade options in IRA accounts on margin, a strategy generally not permitted in IRA accounts.

CALL TODAY FOR A FREE CONSULTATION TO EXPLAIN YOUR RIGHTS AGAINST INTL FC STONE AND OPTIONSELLERS.COM
Since 1998, the attorneys at ChapmanAlbin have helped hundreds of investors recover millions of dollars lost due to investment fraud and negligence. Call us today at 1-877-410-8172 or email attorney Jason Albin at jalbin@chapmanlegal.com to discuss your options against OptionSellers.com and INTL FC Stone.
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So far I know there are only 2. Chapman & Albin and William Aron. Just 2 sharks.
 
Overnight said:
I first saw the video on Optionseller's Youtube because one of the ET members here linked it. It seemed a general link. *shrugs*
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It was a direct link. When I clicked on their name to see what other videos they had in their channel, none were listed, not even the apology video. You couldn't find it unless you had the direct link.
 
Gotcha said:
It was a direct link. When I clicked on their name to see what other videos they had in their channel, none were listed, not even the apology video. You couldn't find it unless you had the direct link.
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So the ET member here who posted it had it as a direct link.
 
Hehe, Looked back, it was "Sweet Bobby".

Geez, the webs we all weave, eh?

Fug it, happy holiday?

Gonna' spread this around like a virus! I'm so needing the mushroom feel without taking mushrooms!

 
Overnight said:
I first saw the video on Optionseller's Youtube because one of the ET members here linked it. It seemed a general link. *shrugs*
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So did I. It was under their account but it was private. If you just logged onto their channel in the ordinary way without already having the specific link, it would not be visible.
 
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JSOP said:
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Makes you think how much does those "experts' insights" worth.
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That I agree with completely but nobody said a word for years to criticize him as he was treated as a very popular "expert" on major financial networks. Of course he was always taking fundamentals - supply and demand etc.
 
According to FC Stone their commercial customers delivered over 2 tcf of natural gas last year. Total US usage is around 27 tcf so just shy of 7.5% of total. Makes you wonder if they used their knowledge of optionsellers book to facilitate the squeeze and make a windfall on their otc and commercial side. The losses and uncollectible debit balances could be dwarfed by the gains on their own book. That would make more sense then their own internal risk management systems being ran over.

https://www.intlfcstone.com/Commodities/Energy/
 
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