BNPP Pitches SX5E Calls Amid Uncertain Markets

Strategists at BNP Paribas in London are highlighting long-term calls on the Euro Stoxx 50 as a way to monetize lower levels of spot. Edmund Shing, global head of equity and derivatives strategy at BNP Paribas in London, has been talking about this trade with clients since the start of the year thanks to the SX5E’s steep forward downward sloping term structure, but the recent market selloff has made the entry levels for the trade even more attractive, he said.