Trade of the month: Dual directional products
Tim Mortimer discusses his trade of the month
The vast majority of retail structured products can be described as long or bull strategies linked to one or more underlyings. This is because their payout will increase (or at least not fall) if the underlying goes up in value. This is the same as being long delta, which means a positive exposure to the market at all times. Included in this type of strategy are all principal-protected and accelerated growth products, reverse convertibles, cliquets and many more.
The opposite strategy would be a
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