Calamos grows equity index options book amid put U-turn

Counterparty Radar: US retail funds cut $39.3 billion notional in Q4

Equity index options

Calamos grew its equity index options exposure in the final quarter of 2022, adding the most to purchased puts, while the broader market of US mutual funds and exchange-traded funds (ETFs) turned its back on the put accumulation from the previous quarter.

Managers shed $39.3 billion of exposure in Q4 last year, of which $38 billion was puts, the market settling at $119 billion. This marks the largest decline over the 12 quarters for which data is available, the second largest being $16.7

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