Call it two trades that go great together – buying stock and selling the requisite call option – all in one execution.
Sounds neat, doesn’t it?
And Convergex has now automated this trading style, the buying of a stock and selling the call option in the name, a historically manual process, into one simple algorithmic execution. According to the firm, it is now offering traders the best of equities and options trading with a single click or order command.
“Our diverse client base is always looking for new ways to extract more yield from the marketplace,” said Oliver Sung, Convergex managing director and head of electronic execution. “This buy-write algorithm provides a powerful new way for our clients to employ options in their investment strategy.”
