Ben Eifert
speaker
517 appearances
1 recordings
1 series
first heard Feb 2025
last heard Feb 2025
Ben Eifert’s voice in public audio — every appearance, attributed to the second.
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Appearances
And what if the market crashes?
So this is
So this
Yeah, exactly.
Right.
So this stuff really doesn't like lock in defined outcomes to the downside.
It just gives you kind of some buffer of protection in exchange for some upside that you're losing.
Yeah.
No, so this is a really important point.
So generally these are not always, but typically these kind of structures exist in fairly popular, fairly liquid underlyings, right?
This isn't like microcap stocks.
This is S P or something.
So the you know the bid offer spreads don't look that wide when you look at it, but you have to keep in mind if you have a twenty two billion dollar fund that once a quarter is rolling this giant collar and everybody knows about it and knows exactly what you're gonna do and knows exactly when you're gonna
do it, then obviously the market just moves right ahead of you, right?
Okay.
And everybody positions for those trades that you're gonna do.
This is what
Very much so.
When when you have a big trade that everybody knows what you're gonna do and when you're gonna do it, they're gonna position ahead of that, and especially in a poor liquidity environment, you know, that's gonna really hurt you.
Like markets can, you know, the w markets can move very significantly as market makers and arbitrators and volatility people sort of position for this big trade that's coming.
Showing 121–140 of 517 · page 7 of 26
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