Tricks of the Trade: An overview of leading options studies & options fund studies.

• New OIC Study Shows Increased Knowledge of Listed Options by Investors.
• Performance Analysis of Options-Based Equity Mutual Funds, CEFs, and ETFs
• Advisors Option 28: Breaking Down How Options Can Benefit Advisors
• 196 Funds That Use Options Had Lower Volatility and Higher Returns

The Buzz: What's the Latest News?

• Department of Labor IRA Proposal - seems like the worst is out. DOL is open to changing fiduciary proposal, but some press for it to be scrapped.
• A tax to curb excessive trading could be a boon to returns - Senator Bernie Sandrs wants to tax stock trades at 0.5 percent of the value of the transaction, 0.1 percent for bonds and 0.005 percent for derivatives.
• Hillary join the "Tax HFT" movement.
• New York Stock Exchange launches enhanced buy-write index, “NYBW”. The New York Stock Exchange, part of the Intercontinental Exchange ICE, +2.00% global network of exchanges, today announced the launch of a new index that aims to provide an innovative, smart beta solution for investors wishing to access the buy-write strategy.

Office Hours: We will take your questions now.

• Question from Nic L. - Interesting stuff. Hard to believe. What major changes do you expect in options market in 2035? - re: This recent OIC advisor tweet - ‏@OIC_Advisor: Avg. daily volume in 1995 = 1.1 million contracts, an amount surpassed today in first 30 mins of trading.
• Question from Tod B., CFA - What is the best way to discuss volatility with new potential clients? Should I highlight it as an opportunity for income generation, highlight the benefits of options to reduce portfolio volatility or simply steer clear of it?
• Question from 777 - Does the panel see the possibility of options exchange mergers anytime soon? Seems like there are just too many right now and it needlessly complications trading.
• Question from Genus P - Would you counsel managers focus their income generation in the weekly options? Short-duration products appear to do well for generating income.