Are we back on EIA’s? The wet dream of the insurance industry. What are they"? in actuality its a ‘security’ with a long put and a short call, both out of the money. Why is this relevant? Because there are markets for puts and calls, and the benefits of an EIA can be synthetically created for your accounts wherein the over lying options are dynamically rebalanced to achieve Delta neutrality.
Al Goldman is “bullish” on the market again…sigh.I'll never forget his comment about the sub prime thing being "a mile wide and 1/2 inch deep" Gleefully called the bottom just before the big slide. GREAT GUY Great writer. If he claims we are on the bottom get ready for leg five.