Viewing Company BMO US Put Write ETF. | StockChase
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BMO US Put Write ETF. Stock Symbol: ZPW-T

Last Price Recorded: $18.0600 on 2017-10-23

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Date Signal Expert Opinion Price
2017-10-10 COMMENT John Hood

The risk is that if the market goes down, you basically get killed. Doing Put Writes and selling Covered Calls are basically the same risks. With Covered Calls, if you buy ZWB on the banks and the banks tank, you lose money. With the Put Writes, you are not owning the shares and is a more aggressive strategy. For someone who is retired, he prefers the Covered Calls. You have to know what you are doing.


Price:
$17.850
Subject:
OPTION STRATEGIES & E.T.F.S
Bias:
UNKNOWN
Owned:
No
2017-09-25 BUY Larry Berman CFA, CMT, CTA

Writes put options across many sectors.  The decline over the summer was all currency.  You might want to go to ZPH-T if the dollar gets down to a $0.80 dollar.  It has not had the down move of ZPW-T.


Price:
$17.650
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-09-11 BUY Larry Berman CFA, CMT, CTA

It writes puts 15-20% below current levels to harvest a 6-8% yield.  It has been at the low end of that.  The entire decline in valuation this year is about the increase in the CAD$, not because the underlying holdings have any problem.  ZPH-T is the identical holdings, but not exposed to the US$.  He likes adding US$ here.  Swap to ZPH-T if we get back to an $0.80 CAD$.


Price:
$17.310
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-08-28 COMMENT Larry Berman CFA, CMT, CTA

It is exposed to the US$.  There is a hedged version (ZPH-T).  It finds the best quality US companies across all 10 sectors and then it writes puts 10-15% below market and harvests the yield.  When volatility is low, as it has been previous in the year, you can’t generate as high a yield.  The entire down move we saw is because of the strengthening of the CAD$.


Price:
$17.780
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-08-08 COMMENT John Hood

A very interesting way and a little more diversifying, then what he normally does, of Covered Calls. He likes the product, but doesn’t buy it himself because he deals with a client base that is fairly mature.


Price:
$18.080
Subject:
OPTION STRATEGIES & E.T.F.S
Bias:
UNKNOWN
Owned:
No
2017-07-31 BUY Larry Berman CFA, CMT, CTA

He talked about swapping out ZPW-T a while back, but now he likes it with the stronger CAD $.  ZPH-T gives you hedging and you would eventually swap back into it.


Price:
$17.830
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-06-30 COMMENT John Hood

He doesn’t use this, but sees absolutely nothing wrong with it. It is very similar to doing a Covered Call.


Price:
$18.480
Subject:
OPTION STRATEGIES & E.T.F.S
Bias:
UNKNOWN
Owned:
Unknown
2017-06-15 TOP PICK Richard Croft

This is a strategy where you are writing Put options against US securities. You are going to be penalized on collecting US dividends as it will be taxed as ordinary income. However, if you write a Put on the US stock, the dividend is implied in the Put. It is going to trigger to the US exchange fund as a capital gain. Has about a 7.2% yield.


Price:
$19.035
Subject:
OPTION STRATEGIES & E.T.F.S
Bias:
BULLISH
Owned:
Yes
2017-05-15 COMMENT Larry Berman CFA, CMT, CTA

For a cash account, is a better to have this, or ZPW.U, the US version? Depending on what you want that currency exposure to be, you might want to consider ZPH-T which is a hedged version. Either one of them is fine to hold. If there is a sharp, sharp correction over weeks, these are still going to protect you on the downside, but are still going to have a bigger shock to the downside. These are equity exposures and are not fixed income replacements.


Price:
$19.620
Subject:
STOCKS & ETFs
Bias:
CAUTIOUS
Owned:
Unknown
2017-05-08 DON'T BUY Larry Berman CFA, CMT, CTA

ZPW-T vs. ZPH-T.  ZPH-T is hedged against currency risk.  The cost of hedging is the differential in the cost of writing the forward contract.  He is fully hedged on all portfolios.  The CAD$ may go back to $.80.  If markets sell off and contracts come into the money they may get taken out.   A 20% down for the market will cause many of their stocks to come down into the money.


Price:
$19.650
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
No
2017-04-24 COMMENT Larry Berman CFA, CMT, CTA

ZPW-T vs. ZPH-T. You have 100% equity exposure even though they are miss-classified on many trading platforms that look at what is in them.  They are writing options.  The fixed income holing is just there for margin purposes.  It is a treasury bill so there is no risk to it.  These are not fixed income. 


Price:
$19.540
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-03-20 COMMENT Larry Berman CFA, CMT, CTA

ZPH-T or ZPW-T? He likes them both. When he thinks the CDN$ is going to get weaker, $.02, $.03, $.04, he wants this one. When he thinks the Cdn$ may get stronger, then he wants ZPH and wants to hedge the currency risk.


Price:
$19.210
Subject:
STOCKS & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-03-06 COMMENT Larry Berman CFA, CMT, CTA

The best 100 companies with write-options 15% or so below market.  If markets decline rapidly, you don’t get a lot of support from it.  But if a decline is over 6 months you won’t see a lot of downside.


Price:
$19.280
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-01-30 COMMENT Adam Thomas

It is priced in US$ so you have currency exposure.  Last year there was a lot of price decline due to currency fluctuation.  This ETF is not risk free.  If all the holdings in the ETF go down a lot there is a downside risk.  Liquidity is not an issue for this ETF.


Price:
$19.620
Subject:
AGRICULTURE, DIVIDEND & FIXED INCOME
Bias:
BEAR
Owned:
Unknown
2017-01-26 COMMENT Mike S. Newton, CIM FCSI

This writes Calls and Puts against 40 large cap US names, and that can generate a pretty nice yield. The yield is around 7% right now. This is just playing off the volatility, but it is really not designed to move anywhere, and should stay in a trading range for a very, very long time. You have to ask, are you looking for yield or are you looking for growth. If yield, that is fine. If growth, move on to something else.


Price:
$19.620
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
CAUTIOUS
Owned:
Unknown
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