zerohedge.com / by Tyler Durden / Oct 3, 2016
Having traded in a narrow range for 3 months, Swiss stocks tumbled last week amid contagion concerns over Deutsche Bank. With valuations at their highest realtive to Euro peers since 2008, it appears investors are hedging aggressively. Bearish Swiss stock option positions out-number bullish by the most since Lehman (after which SMI fell by 50%).
Bloomberg paints a rosier picture, noting an exodus from defensive plays made Swiss equities lag most developed markets this quarter, sending the number of outstanding bearish options to an eight-year high versus contracts betting on gains.
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