In order to get the best conditions when choosing the right yield enhancement solution, it is often worth taking a look at the call-put positioning. This sets the current open position in call options in relation to that in put options. A low quotient indicates greater demand in put options and therefore the possibility of realizing premiums when selling these options.
Geberit (call-put quotient of 0.35), Logitech (0.23) and Clariant (0.26) with strong put positions are currently noticeable here. The possibility of realizing premiums on these values is also underlined in these cases by the current level of the implied volatility in comparison to the volatility actually observed historically: The former is noticeably higher for all three stocks - Geberit (6.7%), Logitech (12.7%) and Clariant (2.5%).
8.0% p.a. Barrier Reverse Convertible on Geberit, Clariant, Logitech
In Europe, too, there are base values at which these indicators work. Especially with Norsk Hydro (call-put-quotient of 0.48) the level of the implied volatility is over 10% higher than the historically realized volatility.
7.25% p.a. Barrier Reverse Convertible auf Norsk Hydro
ZKB Callable Barrier Reverse Convertible on worst of SunPower Corp/Sunrun Inc 127344767 / CH1273447677 |
ZKB Autocallable Barrier Reverse Convertible auf Affirm Holdings Inc 127344951 / CH1273449517 |
ZKB Autocallable Barrier Reverse Convertible auf ON Holding AG 127345566 / CH1273455662 |
ZKB Callable Barrier Reverse Convertible on worst of Helvetia Holding AG/Baloise-Holding AG/Julius B... 132912102 / CH1329121029 |
ZKB Autocallable Reverse Convertible on worst of Julius Baer Gruppe AG/Helvetia Holding AG 125290724 / CH1252907246 |