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February 2023 Market Recap

03/07/2023 Market Recap

The S&P 500® Index returned -2.44% in February, bringing its year-to-date return to 3.69%. Investor euphoria in January, driven by persistently high inflation that appeared ...

January 2023 Volatility Briefing

02/13/2023 Quick Takes

Implied volatility, as measured by the Cboe® Volatility Index (the VIX®), averaged 20.17 in January. Consistent with its typical relationship, average implied volatility exceeded realized ...

2022 Active PutWrite Commentary – Q4

02/10/2023 Active PutWrite Commentary

Read our Q4 Active Putwrite Commentary for a review of strategy performance and positioning during the quarter. 2022 Q4 Active Putwrite Commentary

Is it 1963 or 2002?

02/09/2023 Market Perspective

As traders and professional prognosticators hang on every word from Federal Reserve officials, anticipate each data release with tense fingers hovering over keyboards and debate ...

January 2023 Market Recap

02/08/2023 Market Recap

The S&P 500® Index returned 6.28% in January. The advance was propelled by early and small signs of progress in the Federal Reserve’s (the Fed) ...

High Demand for Index Options Kept Implied Volatility Elevated in 2022

02/01/2023 Quick Takes

As investors weighed monetary policy risks and other risk factors including the conflict in Ukraine and China’s Zero-COVID policy, demand for index options was strong ...

2022 Flagship (Index/RA) Commentary – Q4

01/30/2023 Flagship (Index/RA) Commentary

Read our Q4 Flagship (Index/RA) Commentary for a review of strategy performance and positioning during the quarter. 2022 Q4 Flagship (Index/RA) Commentary

2022 Active Overwrite Commentary – Q4

01/26/2023 Active Overwrite Commentary

Read our Q4 Active Overwrite Commentary for a review of strategy performance and positioning during the quarter. 2022 Q4 Active Overwrite Commentary

December 2022 Volatility Briefing

01/24/2023 Quick Takes

By several measures, 2022 provided investors with one of the most volatile and challenging years in history. Ongoing assessment of whether Federal Reserve (Fed) policy ...

Active Overwrite Performance Summary – Q4 2022

01/19/2023 Active Overwrite Commentary

Throughout the quarter, the Gateway Active Index-Option Overwrite Composite (the Composite) provided equity market participation and consistent loss mitigation. Most of the Composite’s outperformance versus ...