### Comment:
He was short calls in the face of a huge up move. Not entirely uncommon and completely predictable.  “Pennies in front of a steamroller, blah blah...” - it works very well, until it doesn’t. And when it doesn’t the drawdown is spectacular.  
  
 We’ve seen this exact scenario many times before and will see it again.  Sucks for the suckers who actually believed in him. Give it a little time, he’ll hit reset and start again.

### REPLY:
Short naked calls is irresponsible. He needed a hard lesson in risk management. Honestly it was reckless trading on his part, totally unhedged, he knew the risks. Just a shame that he lost all his clients money too.

### END.