One Options Pro Makes Golden-Oldie S&P Trade

Just because the Nasdaq is the index to watch this year doesn't mean everyone has abandoned the old standby, Standard & Poor's index options.

Michael Schwartz, options guru with CIBC World Markets in New York City, took exception to our column proclaiming the decline of S&P options as hedging tools.

In fact, he said Tuesday that he dusted off the oldies and put on what's known as a "put bear spread," using S&P 500, or SPX, index options. ...