The VIX, sometimes referred to as the "fear index", is at all-time lows. Commentators sight this as a reason markets are due for a correction. Few, however, have an understanding of the index. This presentation will provide attendees a more detailed review of the VIX and its practical applications by covering the following:
- What is the VIX and how is it calculated
- What causes VIX to move
- How to use the VIX
- Realized Volatility
- Volatility Echo
- Watch for the VIX curve (No Free Lunch)
HANS ALBRECHT, CIM
Vice-President, Portfolio Manager and Options Strategist Horizons ETFs Management (Canada) Inc.
Mr Albrecht co-manages a number of products in Horizons' line-up of option overlay ETFs and oversees day-to-day options activities.
Prior to joining Horizons, Mr. Albrecht spent most of the past 20 years making markets in listed options and trading volatility for National Bank Financial and its parent company, National Bank. He has also led the development of a quantitative options trading platform, as well as successfully built out and managed an equity/options trading desk.
Mr. Albrecht believes that "alpha is in the details." The key to successful volatility trading, in his view, is a superior understanding of the ever-changing conditions of volatility and a constant eye towards identifying volatility edge. He has appeared regularly on BNN, in the Globe and Mail, Advisor Magazine, has appeared on numerous expert derivatives panels, and has written extensively on the topic of volatility and options trading.
Mr. Albrecht graduated from McGill University with a Bachelor of Commerce and holds the Chartered Investment Manager (CIM®) and Fellowship of the CSI (FCSI) designations.