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/biz/ - Business & Finance

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14883003 No.14883003 [Reply] [Original]

Should naked call selling be banned?

>One investor from Fort Myers, Florida lost $1.8 million and owes $571,000. He is 79 years old and now worries he will never be able to retire. Another investor from the Tampa area lost $450,000 and owes $125,000. He says the devastating losses to his family’s retirement are negatively impacting their health. None of the investors realized they could wake up one day to discover they had not only lost all the money in their accounts, but also owe money to FCStone. Attorney Jason Albin says, “the saddest part about this whole mess is that it could have been avoided if FCStone had just done its job.”

>A retiree whose retirement savings were destroyed in the FCStone debacle in mid-November, 2018 commented Tuesday that he's giving up all his volunteer work and looking for a job to hopes of staving off bankruptcy. He added, "I was hoping things would move along in arbitration, but FCStone just keeps changing the rules on us. Somedays I just choke on the unfairness of what FCStone is doing."

https://www.zerohedge.com/news/2018-11-18/optionsellerscom-goes-dark-after-catastrophic-loss-event-natgas-short-squeeze

>> No.14883012

forgot sauce
https://www.johnschapman.com/investment-fraud/tampa-based-optionsellers-com-victims-sue-intl-fcstone-for-9-5-million/

>> No.14883326

>>14883003
Tfw northport fag

Ahahahahaha

Fuck Tampa and Fuck Fort Myers

>> No.14883477

"Cordier said more than once that the only risk to your fund is market risk,'' Wigmore later said in a deposition. "He said PFG had an impeccable business reputation. I had James Cordier and his reputation and his experience.''

from https://www.tampabay.com/business/how-tampas-james-cordier-went-from-high-roller-to-youtube-apology-after-losing-150-million-20190206/

P to pray for boomers

>> No.14883662

>>14883003

It shouldn't be illegal, but if you're a fucktard from Tampa that puts his entire life savings into a speculative investment because you didn't save enough for retirement, you shouldn't be surprised when you get rocked.

>> No.14883677

LOL isn’t selling a call one of the highest risk, lowest reward moves that you can make?

>> No.14883710

>>14883003
>Somedays I just choke on the unfairness of what FCStone is doing
lol boomer cucks made they have to lie in the bed they made?

>> No.14883714

>fuck up
>complain to government

>> No.14883736

>>14883477
>Because Cordier didn't own any natural gas, he had to buy it at the higher prices and immediately turn around and sell it to whomever had bought his options at lower prices
>"Putting it simply — he had to buy very high and sell really low,'' researcher Adem Tumerkan wrote in an online analysis.

Ah yes, the classic /biz/ strategy. He learnt from us, I see.

>> No.14883772

>>14883677
Option sellers eat like chickens and take dumps like elephants

>> No.14883780

>>14883677
Selling a naked one? Yes.

>> No.14883838

>>14883326
Naples fag here and I fully agree with what you're saying

>> No.14884708

>>14883714
Boomer culture my friend. They're responsible for the behemoth of a regulatory state we live in.

>Waa I can't solve problems with my words or non violence so I'll just get the guvment to do something

>> No.14884819

>>14883003
That BBQ sauce tho

>> No.14884835

>>14883003
Play stupid games win stupid prizes.