EFTA Document EFTA01365332

Deutsche Bank Markets Research Nrmil, United States Derivatives Strategy US Derivatives Spotlight The Compelling Case for Long-Dated SPX Calls The current combination of low volatility levels and embedded protection makes longer-dated call strategies attractive to position for further equity appreciation. With call premia near decade-long lows, upside options offer benefits compared to long equity positions or can be used to safely enhance core cash equity holdings. In this note we