Oh gosh, I'm down overall like many people. I don't do a lot of Nekked Call Writing. As we speak my account is down 1.8% this morning. But I'm more than 60% cash. It's just entertainment for me. I'm not good at this stuff at all. I enjoy the mental stimulation.
naked calls will make you a billionaire i know for a fact seen it done. knew of a guy who started with 100k when the sp was trading 180 and now that 100k is 14 billion do you know how to protect your positions etc. you can not arm chair till expiration every month. sometimes you have to take those penny loafers off and get the work boots on.
The Spyglass dude from Dallas? Finney? Rainbow Trading and Spyglass were small time. You have nothing to go on other than the guy had a nice house in Dallas. Their foundation has <$2MM in it. Ignore the bear markets and look solely at capacity constraints. It would show up on the tape and it hasn't. It would literally be impossible for the guy to have amassed that amount during the period in question. Short calls don't work that way. He was never an exchange member and was not afforded a MMer haircut. There was no portfolio margin which means he would have been trading under RegT. You have absolutely zero proof that the guy even managed more than $20 million. His BDs never had more than $20MM, combined.
You stated in another post that he shorted the calls on "huge (upside) vol spikes" which never occurred. You mention that he was fined for violating contract volume limits but there is no record of any fines/actions. Nobody at CBOE has ever heard of the guy yet he was the (fantasy) largest vol-seller in the world at the time in equity vol. He's never been on any wealth list.
The 100 Most Expensive Homes in Dallas - D Magazine mark cuban lives i a cheaper house than stan finneys widow. your investigator skills are shit really. she is worth 14 billion you are eat up with jealousy - this is your sore spot anyone who can do better than you - you go nuts lol
Bullshit. She has a $30MM house therefore she's worth $14B? Buffett's house in Omaha is worth less than mine so I am richer than Buffett? See how fallacies work? You may be retarded.
I've seen their BD balance sheets the last time we went down this road and it was well under $20MM at the peak levels of capital. So the guy sold calls(?!) at 10 vols while he was still at Shearson? Right? 1985 to 2007. He amassed $14B dollars shorting index calls under RegT (not an exchange member) and did it in a personal account.
He built the house in 1992. In 2018 it was valued under $15MM (highest comp). The house was valued under $5MM as late as 2005.