As Options Pros Ditch Small-Cap Hedges, BNP Paribas Says Buy
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After US stocks logged their longest winning streak in 20 years, it’s a good time to protect against a slide in small-cap names, according to a strategist at BNP Paribas SA.
Greg Boutle, the bank’s head of US equity and derivatives strategy, reckons that the breakneck rally in equities over the second half of April looks to be running out of steam. Small-caps, he said, might see the sharpest reversal of recent good fortune.