Inside the Collapse: Details of OptionSellers Trades

My post about the ruination of got a huge amount of attention. Traffic to was bigger on Sunday than any normal day of the week. The most common question I heard was: "what exactly were the positions?" I had no idea.........until now.

According to my sources, here are the positions they had on: naked short calls (left side) and naked short puts (right side), all on natural gas:

Here is one client's P/L (well, mostly "L") over the course of the week with the calls.........(click on it to see a readable image):

As well as the puts...........

As you can see, a horrible wipeout, and not something one should sip wine to.