Yearly Archives: 2014

no-cover
April 28, 2014
Other

Sell in May? Or Hedge ’til Labor day!

Richard Croft

There is an old adage in the investment industry; “sell in May and go away ‘til labor day.” Not everyone agrees… Warren Buffett for example! Still, enough investors believe in the concept, and when you think about it there is rationale underpinning the theory. Summer holidays can limit liquidity and often there is...

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5 years ago
no-cover
April 17, 2014
Other

Understanding The VIXC

Jason Ayres

If you spend a little time surfing around the Montreal Exchange site you will eventually make your way to the MX Indices tab. At the top of the menu you will find a link to the VIXC, which is the S&P/TSX 60 VIX or volatility index. The VIXC reflects the 30 day implied volatility of S&P/TSX 60 front month and next month...

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5 years ago
no-cover
March 31, 2014
Other

The Yellen Message!

Richard Croft

The markets have been tepid lately as investors watch for signs of an improving US economy, a message telegraphed by Fed Chairman Yellen in her first news conference a couple of weeks ago. If the data come in as Yellen expects – or more importantly as analysts think Yellen will interpret the data – traders may have to...

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5 years ago
no-cover
March 27, 2014
Other

Using Options as a Tax Deferral Strategy

Patrick Ceresna

Over the last 2 days I have had the opportunity to speak at the Options Conference in Toronto and Montreal. The conference brought together the top industry professionals from across North America with a focus on the use of options for Investment Advisors and Portfolio Managers. It was a phenomenal opportunity to hear some the...

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5 years ago
no-cover
March 14, 2014
Other

Options Action on Bombardier

Jason Ayres

From time to time I like to take a look at the “Most Active Options” ranking on the Montreal Exchange home page. It was no surprise to see that 6 out of the 10 were mining companies this morning. Since Richard Croft already posted and interesting article on this sector the other day entitled Gold, Where’s the...

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5 years ago
no-cover
March 10, 2014
Other

Gold: Where’s the Glitter?

Richard Croft

For gold aficionados, it has been a rough eighteen months. Even diehard doomsayers who see gold as crisis insurance have been asking; “where’s the glitter”? From my perspective, I have never been a gold buff and have never believed it was reasonable to view gold as portfolio insurance. So, we are left with short-term...

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5 years ago
no-cover
February 28, 2014
Other

Fundamental and Technical Analysis for Options Trading

Patrick Ceresna

Fundamental analysis remains the most commonly utilized investment tool available. Through its use, investors seek to filter out the strongest, or best, valued companies in the market. There is no question about the value of utilizing fundamentals, but it does present the investor with an obstacle. There is a distinct...

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5 years ago
no-cover
February 28, 2014
Other

Blackberry Resuscitated?

Richard Croft

It’s not often you see a company rally despite declining earnings, especially a company that is in the process of overhauling its business model! Nonetheless, that that is exactly what is happening with Blackberry under the guidance of recently appointed CEO John Chen. Blackberry continues to fall short on earnings no matter...

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5 years ago
no-cover
February 11, 2014
Other

Generate Cash Flow with Less Capital – Consider Credit Spreads

Jason Ayres

Many investors seek to enhance cash flow in their portfolios. For the option educated, this can involve the implementation of the Covered Call strategy or selling Naked Calls or Naked Puts. The objective is to collect a credit through the sale of an option contract with the expectation that it will expire worthless. This can...

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6 years ago
no-cover
February 10, 2014
Other

Alpha Generation

Richard Croft

Something I have discussed at a number of the Montreal Exchange Option Education Days is the theory that markets are efficient, which is to say the stock market is a pricing mechanism where investors come together to evaluate potential return. You buy shares when you believe them to be undervalued and sell them because you...

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6 years ago