US mutual funds piled into call-selling strategies in Q1
Counterparty Radar: BlackRock, Franklin Templeton and T Rowe Price among the managers who added to single-stock positions
US retail funds increased their exposure to sold equity calls in the first quarter, taking a bearish view as stock markets began rallying.
The combined value of single-stock calls at mutual funds and exchange-traded funds swelled to approximately $30 billion in notional at the end of the first quarter, up from $23.5 billion in Q4 2022. Most of the new positions were sold calls, according to data from US Securities and Exchange Commission filings compiled by Risk.net’s Counterparty Radar
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