Options Trader 'Captain Condor' Causes $50 Million Loss for Followers
Originally Published 11 days ago — by MarketWatch
Options trader 'Captain Condor' and his group of about 1,000 investors suffered a $50 million wipeout after using a risky Martingale betting system on Iron Condor options strategies, highlighting the dangers of retail involvement in complex derivatives amid a booming U.S. options market.