OptionSellers.Com, operated by James Cordier and Michael Gross, promoted themselves as expert options traders able to manage money for retail investors promising they can produce consistent returns with limited risk. From offices in Tampa, Florida, Cordier and Gross touted their book “The Complete Guide to Options Selling” claiming to know “how selling options can lead to stellar returns in bull and bear markets.”
Now, OptionSellers.Com website has gone dark, and INTL FCStone, the commodities firm which maintained the customer accounts and managed the risk for loans and margin, claims that many investors owes them millions of dollars. Investors are wondering how INTL FCStone and OptionSellers.Com lost all the money.
While money was lost on naked options, investors allege that either OptionSellers.Com or INTL FCStone failed: