ReSolve Riffs with Stuart Barton on Structuring Volatility ETPs

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By ReSolve Asset Management. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

Our guest this week was Stuart Barton, co-founder and Chief Investment Officer at Volatility Shares. Our conversation ranged across topics that included:

  • Early career as a vol trader and how the space has changed over time
  • Volatility Shares’ investment approach – probability-weighting and active trading
  • ETNs, ETFs and other ‘packaging’ models – benefits and drawbacks
  • Settlement as a crucial variable – matching vehicles and their underlying assets
  • A post-mortem on the ‘Volmageddon’ episode in February 2018
  • Volatility strategies – wide variety of flavors for investors of all stripes and sizes
  • ‘Picking up pennies in front of a steamroller’ and other vol strategies to avoid
  • Asymmetric risks and rewards
  • Term-structures, curves, expirations and roll-yields
  • The ‘boring’ 3-month VIX futures contracts
  • Multiple sources of signal in the VIX curve, including its shape and how it moves vs the S&P 500 (aka skew delta)
  • The relationship between spot and future volatility at different points along the curve
  • The various ‘800-pound gorillas in the room’ and their techniques for minimizing market impact
  • Why attempts at front-running these larger players sometimes go awry
  • The reflexive and ever-evolving race towards alpha
  • And much more

This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global* and Richard Laterman of ReSolve Asset Management.

*ReSolve Global refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association (“NFA”). Further, ReSolve Global is a registered person with the Cayman Islands Monetary Authority.

162 episodes