​Daily Wrap – IPS Looks To Mutual Fund Structure; Tradelegs Details New Software

The equity markets seemed all over the place today, as the S&P 500 went on a ride from about 1,960, to a low of 1,957 before finishing up at 1,967.26. The listed options market started the day fairly muted, but investors soon entered with interesting flow noted in Dec., Nov., and Oct. VIX options. BAC also saw heavy flow, with one investor entering a Jan straddle targeting 15. In our coverage today, IPS is looking at turning its flagship naked put options strategy into a 40 act compliant mutual fund in a bid to extract greater efficiencies and attract a more diverse investor base. Meanwhile, Tradelegs details its third and latest software version, which offers a portfolio hedging optimization service.