- Report: #1159629
Report - Rebuttal - Arbitrate
Complaint Review: 5 Day Options
5 Day Options20004 Columbus Lane Lago Vista, TX , Select State/Province USA
5 Day Options Jonathan Roberts, Charles Bittman Irresponsible and unprofessional Lago Vista, TX
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I am writing to alert anyone who is trading stock options credit spreads to stay away from 10 day options. This is an subsription service that charges 499.00 1/2 yearly fee. They offer an auto trade service and trade through e-options.com and other discount stock options brokers. The owners of this company are Charles Bittman and his partner who does the actual trading, Jonathan Roberts.A past performance record was sent to me showing 3 losses in 3 years and Mr Roberts said to me on the phone that his last loss was about 6 months prior.The money I wanted to invest was very important to me but not money that would change my life style. I asked that they should not accept my subscription if it is not safe and knowing it was important that I do not lose much money.The money was an insurance pay out for an accident performed on the job. It was called set aside money meaning the money was in lieu of using medicare. I am 75 years old. I will not be able to use medicare relating to injuries occured by the accident until all the set aside money was used up to pay for medical treatment relating to the accident.They fully understood what my money was for and they assured me that precautions were in place to not have large losses. Mr. Roberts assured me that I can expect losses of no more than 800.00 per 5 day trade and he would try to get me 200.00 profit for same trade. I quetioned that saying that it would take me several months to make up that kind of loss to break even and he said that his track record speaks for itself. In a nutshell I trusted him..On 3/5 I joined his service with the understand that I would be refunded the full amount of 499.00 subscription if I was not satisifed with his service. Around 3/19 the first trade was made and I lost 1100.00. I quetioned this loss based on his stellar track record and he assured me that this is not the normal and not to worry and to be patient. I the next trade I lost 5,000.00. Mr. Roberts suggesting allocating 10,000.00 and that he would trade 10 contracts per trade..I lost a total of 6000.00 in two consecutive trades. ENOUGH SAID? He blamed on the CBOE. I will be glad to share the correspondence of what happened with that trade. Since then I have sent many requests to make my account whole at my e-options account. I also ask for the refund for 499.00 subscription which was also ignored. I have sent a letter to the SEC and the CBOE regarding 5 day options. I implore all those who are thinking of having any association with 5 day options and the principles of 5 day options. The problem is that e-options could care less and claim they have no control over their auto trader advisors.
This report was posted on Ripoff Report on 07/04/2014 03:05 PM and is a permanent record located here: http://www.ripoffreport.com/r/5-Day-Options/Lago-Vista-TX-Select-StateProvince-78645/5-Day-Options-Jonathan-Roberts-Charles-Bittman-Irresponsible-and-unprofessional-Lago-Vis-1159629. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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