On Monday, October 7, the π©ππ« π·ππΊπ½π²π± π―π π― π½πΌπΆπ»ππ, seemingly without cause. However, the reason is purely βtechnicalβ: VIX is short-sighted, only factoring in
As almost every structured product issued globally is bullish, the flow from retail investors is essentially βlong forward.β This results in banks becoming short forward
The life of an exotic trader often involves selling cheap calls and buying expensive puts. A strategy to make the put more expensive and the
A single-stock exotic trader who sells structured products is essentially in the business of buying puts and worst-of puts on some of the most popular
I started my career at Goldman Sachs in London as an Equity Exotics Trader, trading Index exotics, single stock exotics and dispersion.