​Weekly: Zero Cost Hedge Spied; SEC Eyes Fund Rules; IPS Filing As Mutual Fund

With the Pope visiting, some investors were hoping for a miracle, according to the mainstream press. The S&P 500 didn’t notice, however, finishing the week down about 30 points, while the VIX was trading at about 23, up from its 22 level on Monday. In our coverage this week, we look at a zero cost 30-60 day hedge with uncapped participation on the upside, while we also talk to Denver-based financial boutique IPS Strategic Capital as it looks to turn its flagship options strategy into a 40 Act compliant mutual fund. In the listed markets, investors were seen rolling out options strategies on Staples and Office Depot Friday morning, as the European Commission revealed plans to investigate a potential merger between the two firms, while in OTC SocGen is eyeing a June 2016 puts on S&P 500 variance, targeting a strike of 24 and a VS reference at 26, as volatility trends lower following the recent summer spike