​Daily Bulletin: Monday May 11

VIX options had a great start to the week, as one investor rolled a position from June-to-July via a ratio call spread swap. The investor wants a little bit more volatility it seems, but perhaps not that much come July, according to market participants. In Toronto, we also look at Manulife’s plans to expand its alternative investment capabilities. The firm’s asset management division is already back-testing two structurers. In Europe, one German portfolio manager is looking at relative value trading opportunities that are emerging in U.S. tech single stocks versus the S&P 500, as well as the NASDAQ vs. the S&P 500. In Asia, structured products on the Eurostoxx 50 are continuing to grow among private banks and wealth managers in Asia, with variable notional structures on the underlying the latest payoff to see a spike in activity in the region.