My post about the ruination of OptionSellers.com got a huge amount of attention. Traffic to SlopeOfHope.com 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.