2019 Offers Prospect Of Higher Vol, But Option Buyers Are Cautious

​Volatility markets began the year with levels well above those recorded at the start of the last few years, but with many investors still recovering from 2018’s violent market swings, timing long vol plays in 2019 will matter more than ever. In the U.S., investors and sellside officials said they are focused on short-dated plays. In Europe, meanwhile, investors are looking at relative-value plays and getting long convexity.