Liquid Strategies Insights & Commentary

A Bird in the Hand

Author: Brad Ball

Everyone has heard the proverb “a bird in the hand is worth two in bush”. This most assuredly applies to income investing today. Too many investors are focused on the “second” bird in the bush, or the potential for equity appreciation.

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Topics: Overlay, Theta Income

Check the Rearview, but Keep Your Eyes on the Road

Author: Justin Boller

The end of a year is always a good time to reflect on what just happened and try to take a guess as to what lies ahead. Coming off 2018 where nearly nothing worked in portfolios, this year has proven to be the exact opposite with all major asset classes posting positive returns through the end of November.  Not only have the returns been positive, they have been exceptionally strong for both stocks and bonds.

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Topics: Overlay, Theta Income

Theta Income Strategy - Q3 2019 Commentary

Author: Shawn Gibson

In a choppy quarter marked by large moves within a defined trading range, the Theta Income Strategy was able to generate a net return of 1.26% for the quarter, bringing the YTD net return to 5.31%. On a longer-term basis, the Theta Income Strategy has the ability to generate attractive absolute and risk-adjusted returns relative to bonds partially due to focus on risk control and volatility mitigation in the Strategy. The volatility relationship between the Strategy and bonds continues to trend very favorably so far in 2019. From the start of the year through 9/30/19, the annualized standard deviation of the daily returns of Theta Income has been only 2.06% compared to 3.30% for the Bloomberg Barclay’s US Aggregate Bond Index. These results are supportive of our ongoing effort to generate the highest returns per unit of risk.

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Topics: Theta Income

Theta Income Strategy - Q2 2019 Commentary

Author: Shawn Gibson

 

Although the quarter included a sharp volatility spike in May and overall large swings in the equity markets, the Theta Income Strategy was able to generate a net return of 0.94% for the 2nd quarter, bringing the YTD net return to 4.00%.  On a longer-term basis, the Theta Income Strategy continues to provide compelling absolute and risk-adjusted returns relative to bonds.

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Topics: Theta Income

Theta Income Strategy - Q1 2019 Commentary

Author: Shawn Gibson

The Theta Income Strategy was able to capitalize on the normalization of volatility to generate a solid net return of 3.02% for the 1st quarter after an extremely challenging environment in 2018.  On a longer-term basis, the Theta Income Strategy continues to provide compelling absolute and risk-adjusted returns relative to bonds.

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Topics: Theta Income

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