Looks like Karen had been using In-The-Money Calendars on E-minis to avoid showing losses for about 19 months. You can read section 58 onwards in the SEC filing for an explanation of the trading scheme. Quite sad if it’s true.
http://www.tennessean.com/story/news/2016/05/31/feds-brentwood-firm-schemed-gain-millions-ill-gotten-fees/85211006/
Options Bistro 