​Daily Wrap – Investor Targets BAC Calls; Manulife Eyes Funds With Hire

Sep 16, 2015

With the FOMC meeting kicking off today, the markets were a little subdued. Who would take risk now? Either the Fed raises rates, which could be positive for volatility, or it waits till December, which could also be positive for volatility. In the listed markets, at least one investor took a punt, selling 30,000 BAC weekly calls potentially betting rates won’t rise. Energy and telecoms also saw interesting flow. In the people and firm’s section, A former RBC equity chief in Toronto has joined Manulife Asset Management as the firm gears up to launch a suite of funds, while Michael Schmanske, former portfolio manager principle strategies at Nomura in New York and one of the chief designers of the VXX, has joined BGC Capital.

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