Neuberger Berman Just Rode the Stock Swoon by Selling Volatility
- May market moves barely deflated booming short-options bet
- U.S. fund joins peers in selling puts to cushion equity longs
Erik Knutzen
Photographer: Chris Goodney/zbloomberg
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Trillions got wiped out, volatility surged and investors ran to havens. Yet a racy bet on market serenity bested mainstream stocks in the market swoon.
The options-selling strategy, now a multi-billion dollar juggernaut, was one way Wall Street warded off steep losses this month.