Phanos forced to sell AFS
Real estate firm Phanos is definitely experiencing difficulties in the struggle for survival. It didn’t pay interest on their bonds. Generally speaking not a very positive signal. That’s bad luck for FC Utrecht and their players.
Anyway, apart from sponsoring a football club and doing some real estate business – there’s a relevant angle on this news as well. Phanos is the owner of well-known broker AFS Capital Management. As indicated earlier, AFS will be sold by Phanos. Now we know why.
Mittal
Unrelated to FC Utrecht, Phanos and AFS has been the trading in options on Arcelor Mittal this Wednesday. Spin-off Aperam started trading today, and some market maker had a different vision on the valuation of front month in the money puts. Started by paying some extra for buying ‘m, and hours later paid outrageous prices against the rest of the market – for size. Scaring away all other market makers. Confidence in your prices is a good thing, but don’t exaggerate it next time. Overconfident market maker lost around a million. Expensive lesson, and painful too. Taking into account the size of the trades, it looks like a major market maker messing up. Question is.. which one?
First!!!!
ITM puts Mittal, now for sale
Re: First!!!!
Did u jerk yourself off to sleep after this ?
if it was some big market maker fuckup, somebody should just post it already, all the employees in the company know abt it by now, its ridiculous to sit on this one .. the big market makers are happy to fuck you over when its time, whats with all the loyality bs ..
if its small market maker, well then loyality shud be too strong .. the general public might never find out ..
It wasn’t Optiver or Scrocca, that’s for sure. Leaves us with All Options/IMC/Tibra
based on what information is this site so sure that it must have been a MM buying the MT in the money puts?
None whatsoever…. Coz it wasn’t MM
Indeed, i like to believe that there is already a takeover offer at the table. They split the shares so they can profit extra off the deal. There is still a slight chance that the stock will be removed within a short time since it’s not official on the board yet…
Rumours that the rumours on mittal are no rumours…but the nasty truth….at least nasty for everybody who’s short the ITM puts now……better cover your asses numbnuts!!! woe-oe-oeh!
Trader jack getting fcked up his ass with his big mouth (1 million loss for the trader ain’t a loss till we expired hmmm)…..Or is Trader Jack the kinda trader talking talking no trading….
for the new ones around, could somebody explain, what are the rumours going around, what might happen and how does buying of itm put help the insider who brought all those puts;
also if the mm on the other side of the trade claim foul, can the exchange go cancel the trade since the other party had clearly insider information; SIG had been fucked few times like this by the insiders and exchange are forthcoming in canceling those trades
Re: Indeed, i like to believe that there is already a takeover offer at the table. They split the shares so they can profit extra off the deal. There is still a slight chance that the stock will be removed within a short time since it’s not official on the board yet…
can you elaborate more pls, its not very clear the point you are making, thx ..
@ Rumours that the rumours on mittal are no rumours…but the nasty truth….at least nasty for everybody who’s short the ITM puts now……better cover your asses numbnuts!!! woe-oe-oeh!
gay comments guys… if there is a takeover on aperam and if they pay double in the stock then the basket (MT+APR) goes up by 1-1.5 euro so the in the money puts (out of the money calls) are still to the shitter.
so there its just a bad trade from somebody, silly guy…
yep, someone lost a milion and must work real hard to get it back…
Who wants to buy AFS ?
I think it was Ben Saunders..
I’m gonna by Phanos
to by or not by,
buy, buy love, buy buy hapiness….
I think it was Timberhill who bought the putties.
I think it was Newtrade
or Saen… I’m not sure
It was Calimero
calimero rolling big time
We bought the puts along with the shares you dummies because the new underlying value is 100 mittal plus 5 aperam shares. Thanks for the million you fools!!
4:40 you are such a dumbass it is unbelievable. the value of the 5 aperam is come out of the shares already
Dear 4:40, the 5:01 comment may not be subtle, but he is right and your conclusion is flawed. Any credit in your account can be attributed to the appreciation of the underlying, unfortunately not to your intellect
You can be 100% sure that there is no foul play involved, as the sociopath who traded the 30 bags of ITM FEB’11 puts yesterday has already closed down his position through the prof at around lunchtime today.
I prefer when people are talking about uninteresting gossip around here! because it scared the shit out of me when I read some of your “(none) technical” comments,
Congratulations for 11:54 am, 1:09 pm, 1:23 pm and of course 4:40pm, for your lack of knowledge! keep up the good work, I’m sure you’re making other people in the market a bit richer everyday!
Re: Guus
So this was an actual fuckup .. do u know fucked up and how much it costed to close that position in prof ?
u can ignore the ignorant people and what they are babbling ..
costed????
go become a fucking english teacher, fits well with u
stop trashing teachers. must admit they are a superior type of beings to traders regarding emotional intellect.
point well received by you, seems ur english teacher was better at handling her emotional intellect rather than imparting you english reading skills,
The loss might have been between 2 and 3 millions euros given that 30k puts traded if I’m not mistaken. I have not checked the actual prices traded, it can be easily calculated if you have access to a Bloomberg. The mysterious trader has not been discovered yet…certainly not a Dutch MM (for once) otherwise we would have heard about it.
did flow fire the head of trading or did he leave to set up on his own?
this would be first .. i am yet to hear any flow employee crib or grief on this webpage abt their employee ..
1:37am Then obviously Frank van D. (now at Scrocca) doesn’t visit this webpage, or do you think he liked getting sacked?
One guy decided to stop for personal reasons (relationship, health, etc.) but he was not h.o.t., so nothing spectacular.
Sybren?
Re: 1:37am Then obviously Frank van D. (now at Scrocca) doesn’t visit this webpage, or do you think he liked getting sacked?
can u give more color on what happened with frank ?
he was their cfo, got axed after flow’s best year (2008). not responsible for any trading mistakes / losses. liked that a lot.
why did u like it ?
HE liked it a lot obviously
why did u like it a lot ?
7:08 pm whats your problem? your assuming the poster liked seeing this person get fired, when he has in fact repeatedly stated that the person getting fired wasn’t pleased (big surprise), although he failed to explain how that resentment was displayed. your repeated implying that some like seeing other people getting fired says more about yourself.
7.08 pm: get specialist help
Re: whats your problem?
i have no problem .. did i say i have a problem ??!
i am just curious abt the case of Frank if the insider is willing to share more information on the case .. this is the first time that some employee case for Flow has come up on this web blog .. its interesting to hear more details ..
Re: get specialist help
wtf are u talking abt ??!