The document discusses the benefits of buying long-dated call options for investors seeking equity exposure. It highlights the attractive pricing of long-dated calls on the SPX index, their embedded risk management characteristics, and their historical performance. The note is divided into three parts: current pricing attractiveness, historical performance of different call structures, and the relative magnitude of risks in long call positions.
documents/vol00010-efta01365333-pdf.pdf
{"title":"US Derivatives Spotlight","document_date":"2013-12-03","document_type":"correspondence","key_locations":["California"],"key_organizations":["Deutsche Bank Securities Inc."],"reference_numbers":["DB-SDNY-0056036","SDNY_GM_00202220","EFTA01365333"]}