‘I experienced a catastrophic financial loss’: How options trader ‘Captain Condor’ led his followers to a $50 million wipeout

The group’s misfortune elicited a flurry of commentary and speculation on social-media platforms like X. If nothing else, it has helped to highlight the risks that investors can face in the rapidly growing U.S. options market.In interviews on podcasts, Chau said he had calculated the chances of a total loss to be vanishingly small, and that the strategy could still be profitable even if only a small number of trades actually panned out. In digital advertisements circulating on social-media platforms like In ...