Sat, Aug 30, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Credit Suisse launches covered call silver ETN - second metals ETN this year

Thursday, April 18, 2013

Bailey McCann, Opalesque New York: Credit Suisse has launched its second covered call metals ETN of the year. The Credit Suisse Silver Shares Covered Call ETN (SLVO) went live on the NASDAQ today. Opalesque first reported on the launch of their inaugural covered call gold ETN - GLDI - which went live at the end of January. SLVO is the first exchange traded product in the US market to offer investors access to a covered call strategy on a silver investment and is designed to pay variable monthly coupons.

The new product is linked to the Credit Suisse NASDAQ Silver FLOWSTM 106 Index. SLVO, which tracks the Credit Suisse NASDAQ Silver FLOWSTM (Formula-Linked OverWrite Strategy) 106 Index, seeks to implement a rolling covered call investment strategy by maintaining a notional long position in shares of the iShares Silver Trust ETF (SLV) while notionally selling monthly out-of-the-money call options on that position. Holders of SLVO will be entitled to receive variable monthly payments based on the notional option premiums received from the sale of the covered call options each month.

Credit Suisse partnered with NASDAQ OMX in creating the FLOWSTM suite of indices that the ETN tracks.

"Precious metals investments do not typically provide any current income. For the GLDI and SLVO ETNs however, this is not the case," said Greg King, head of exchange tra......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Study shows what resonates with investors: 'Unwavering', 'passionate' beats 'committed', 'dedicated' and more surprises[more]

    Komfie Manalo, Opalesque Asia: A new study by Pershing Square, a unit of BNY Mellon company, showed that an effective value proposition strengthens audience connections and fosters growth, yet many advisors have had little objective guidance in formulating such statements until now. In the

  2. Comment – Why you should avoid the hottest hedge fund hands, Swedroe attacks Hussman over risk management, relative value strategy[more]

    Why you should avoid the hottest hedge fund hands FromCNBC/Yahoo.com: Investors who don't have money with Pershing Square Capital Management are likely salivating at the hedge fund's industry-leading 26 percent return from January through July. But investing with Bill Ackman and other to

  3. Hedge fund assets decline in July - eVestment[more]

    Bailey McCann, Opalesque New York: Total assets in hedge funds declined in July and dropped 0.49%, marking the industry's second monthly asset decline in 2014, according to the latest asset flows data from eVestment. Despite the asset decline, total industry AUM remained above the $3 trillion

  4. AIMA makes 'the case for hedge funds'[more]

    Bailey McCann, Opalesque New York: The Alternative Investment Management Association (AIMA), the global hedge fund industry body,

  5. Managed futures' global diversification is important in next phase of economic recovery[more]

    Komfie Manalo, Opalesque Asia: The global diversification provided by managed futures may prove to be extremely valuable as the markets enter the next phase of the economic recovery, said Campbell & Company, a pioneer in absolute return invest