BUY-WRITE ETFs' POPULARITY

The 'tourist had no idea how big these strategies had become... He worries about why and warns about their risk profile

My favourite sell-side trader market feed is Dave Lutz’s commentary from Jones Trading. On his way out today, he mentioned the expected flows from the BUY-WRITE ETF crowd over the next couple of days, and they seemed big — way too big. So I decided to dig into this strategy and see what he was talking about.

The results shocked me. There is more than $15…