Options trader PR Sundar in soup over controversial tweet, under Sebi scanner

Chennai-based popular options trader and YouTuber PR Sundar has landed himself in trouble following a distasteful comment while replying to a tweet over verification of M2M or mark to market gains. In the meantime, he is also facing scrutiny from the market regulator Sebi over the violation of certain rules in an unrelated case.

The 58-year-old, who has apologised for the controversial tweet, said the issue had been blown out of proportion. "It looks like a case of a coordinated attack against me by some people on Twitter," Sundar told ETMarkets.

The mathematician-turned-options seller has been facing criticism on social media since yesterday from not just other finfluencers but also some well-known market experts.





As #PRSundar64 started trending on Twitter, a couple of organisations also said they are withdrawing the sponsorship of his Options Conclave 3.0 that he scheduled to be held in Cochin at December-end.

In the meantime, Sundar-owned trading firm Mansun Consultancy has also received a Sebi notice on unregistered investment advisory. "It is a separate issue related to some procedural violation. I am a certified research analyst but not Sebi-registered," said the finfluencer.

After working as a teacher in Gujarat and Singapore for 18 years, Sundar found his forte in the stock market after started trading in 2007. The popular options seller now trades with a capital of around Rs 50 crore and claims to have made a profit of Rs 20 crore last year from trading, training and other sources.

He has also been trolled on Twitter for apparently making more money from training programs than his own training.

"The two are independent businesses. If Virat Kohli is making more money by doing commercials than by playing cricket, does it matter? The money is coming from all legitimate means," Sundar had told ETMarkets earlier.