Adventures In The Vol-Scape

During the three-month selloff in US equities from August to October, AUM growth for ETFs with embedded options-selling strategies was the weakest of 2023. Those products, you might recall, watched their assets grow from essentially nothing prior to the pandemic to around $60 billion this year. They come in different flavors, but generally speaking, I don't see the point in the current environment. You own the "underlying" simply by owning stocks, and you don't need to sell options to generate