​Daily Wrap – S&P Headed For Autocallable Headache, SocGen Exotics Trader Joins GS

Nov 2, 2015

The Financial Select Sector ETF and GE equity saw heavy options volume Monday, in what was an otherwise pretty light day volume-wise. XLF saw 170,000 Dec. calls trade targeting 25 for .29c, while GE saw a 70,000 Nov. straddle targeting 35. In our Asia coverage today, we take a closer look at the distorting impacts the Korean autocallable market is having on the most used underlyings’ volatility profile. While the problems have been noted in the HSCEI, pundits are worried the same issues could be seen in the S&P 500 as the index becomes more popular. In the People & Firm’s section a senior SocGen exotics trader has joined Goldman Sachs.

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