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Video / 08 June 2016 at 8:19 GMT

Why S&P 500 may head lower: Garnry

Peter Garnry
Saxo Bank's head of equities strategy Peter Garnry says that he is looking to short the S&P 500 which is trading at a 10-month high and pushing evaluation levels not seen since 2003. 

However, the economy has slowed down over the last few months and according to Garnry, selling July put options offers protection of gains for a small premium. He points to several factors that could drag the market lower such as increased volatility, a Brexit, weak Chinese data, or a change in oil sentiment.   
1y
ChristianK ChristianK
Hi Peter. Selling 1 July contract put option ATM on the S&P500 comes at a premium of around USD 4k. If one wants less than this what are the alternatives? put options on ETF or? Thanks.
1y
Georgio Stoev Georgio Stoev
Hi Christian, think Peter is suggesting buying a protective put option on the index rather than selling put. One is bullish (short put)- the other bearish.
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