Andy Constan: Market for 6-12 month variance swaps on mega caps remains illiquid

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Andy Constan: Market for 6-12 month variance swaps on mega caps remains illiquid — Variance swaps for mega caps remain illiquid

Andy Constan, founder and strategist at Damped Spring Macro, raises questions about the current status of the market for 6-12 month variance swaps on mega cap single names.

He remarks that these products were previously illiquid and only available by appointment two decades ago, seeking updates on whether conditions have changed.

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Constan has previously commented on market mechanisms across asset classes. He noted difficulties for investors long BTC and MicroStrategy following a sharp downturn, questioning risk metrics in a recent analysis. In another report, Constan observed that debates over GOOG equity raises often miss the ongoing issuance of shares to employees over several years, as highlighted here.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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