『Exchange Fund Replication using Options with BlackRock's Eric Metz』のカバーアート

Exchange Fund Replication using Options with BlackRock's Eric Metz

Exchange Fund Replication using Options with BlackRock's Eric Metz

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Exchange fund replication is a hidden gem in the concentrated public stock de-risking toolkit.


Exchange fund replication is a 4-legged options trade that collars a single stock for risk management (2 options), and creates index-like exposure with a synthetic long position (another 2 options).


Eric Metz, CIO of SpiderRock, a BlackRock company joins The Albatross to explain how it works, why no one has heard of it despite its relative simplicity, and how it could pair nicely with other risk and tax management strategies like tax-aware long/short.

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