Trading Puts and CDS on Stocks with Short Sale Ban
نویسندگان
چکیده
منابع مشابه
High frequency trading and the 2008 short-sale ban
We examine the effects of high-frequency traders (HFTs) on liquidity using the September 2008 short sale-ban. To disentangle the separate impacts of short selling by HFTs and non-HFTs, we use an instrumental variables approach exploiting differences in the ban’s cross-sectional impact on HFTs and non-HFTs. Non-HFTs’ short selling improves liquidity, as measured by bid-ask spreads. HFTs’ short s...
متن کاملEU ban puts spotlight on complex effects of neonicotinoids
The EU ban for the use of neonicotinoids in flowering crops that bees might visit has highlighted the unresolved scientific debates around these systemic pesticides. While the industry maintains that typical field concentrations aren’t toxic to honey bees, a growing body of independent research shows combination effects that may be just as devastating for bee colonies and wild pollinators. Mich...
متن کاملBuy on the Rumor: Disagreement, Short Sale Constraints, and Speculative Trading Before Earnings Announcements
We show that abnormal trading activity increases in the days before earnings announcements, especially for stocks with high dispersion of opinions. Consistent with the theory of Miller (1977) and other disagreement models, for stocks that are also short sale constrained, this increased speculative trading is dominated by net buyer-initiated trading activity. This evidence helps to explain why s...
متن کاملWhy ban the sale of cigarettes? The case for abolition
The cigarette is the deadliest artefact in the history of human civilisation. Most of the richer countries of the globe, however, are making progress in reducing both smoking rates and overall consumption. Many different methods have been proposed to steepen this downward slope, including increased taxation, bans on advertising, promotion of cessation, and expansion of smoke-free spaces. One op...
متن کاملMultiplicative Approximation of Wealth Processes Involving No-short-sale Strategies via Simple Trading
A financial market model with general semimartingale asset-price processes and where agents can only trade using no-short-sale strategies is considered. We show that wealth processes using continuous trading can be approximated very closely by wealth processes using simple combinations of buy-and-hold trading. This approximation is based on controlling the proportions of wealth invested in the ...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2011
ISSN: 1556-5068
DOI: 10.2139/ssrn.1572462