Risk-Managed Put Selling
For institutional investors
Parametric’s Risk-Managed Put Selling program aims to capture the volatility risk premium (VRP) by selling put spreads on S&P 500® Index options.
Risk-Managed Put Selling may make sense for investors who seek to increase returns on underlying fixed income portfolios or cash. The strategy has a predefined maximum loss per 28-day period.
Investing in an options strategy involves risk. All investments are subject to loss. Learn more.
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Intended benefits of Risk-Managed Put Selling

Limited downside
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Risk-Managed Put Selling limits maximum losses during any consecutive 28-day period.

Enhanced returns
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Risk-Managed Put Selling aims to generate options profits to enhance returns on an underlying fixed income portfolio or cash.

Low correlation
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Risk-Managed Put Selling generates returns that are generally uncorrelated to fixed income and have low correlation to most traditional return strategies.
How it works
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by Jonathan Rocafort, Managing Director, Head of Fixed Income Solutions; Evan Rourke, Director, Portfolio Management
June 24, 2025
This paper helps dispel common misconceptions about premium municipal bonds that can lead to poor decision-making. Once investors learn the difference between fact and fiction regarding municipal bond premium prices, they can make decisions that lead to better investment outcomes.