Wolverine Execution Services Introduces New Vega Trading Applet, Providing New Efficiency When Trading Multiple Option Strikes

CHICAGO, IL--(Marketwired - Dec 11, 2014) -  Wolverine Execution Services (WEX), a leading provider of premier technology and execution services, today announced the launch of WEX Vega Trader, a new trading applet that allows users to specify a target amount of vega to execute across a range of option expirations and strikes. Only available on the WEX Trading Platform (WTP), Vega Trader helps traders manage risk by allowing them to efficiently take volatility positions. 

"With our extensive background and knowledge of options and volatility trading, we built Vega Trader to meet the growing demand from clients for more sophisticated tools for volatility strategies," said Kevin Kernan, Director of WEX Product Development. "Vega Trader expands our volatility and hedging product suite to allow for lists of options to be traded, monitored, and hedged through one simple mechanism."

Vega Trader meets the evolving needs of volatility traders, including dispersion strategies; event-driven volatility strategies; volatility arbitrage and hedging strategies. Vega Trader's benefits include:

  • Defining a target Vega amount for a specific underlier.
  • Automating trading to control the amount of Vega bought or sold for the targeted range of options.
  • The ability to limit the exposure on any one strike by setting a maximum amount of Vega per strike.
  • Automatic hedging.
  • The capacity to easily load up to 40 strikes for the underlier by expiration, root, or delta range. 
  • Monitoring tools that provide an overall status on the achieved Vega, hedge quantities, and P&L.
  • Ability to select custom routes, including WEX Sweep for options and WEX Best X for hedging. 

About WEX

Headquartered in Chicago, Wolverine Execution Services (WEX) is an independent broker-dealer specializing in the execution of equities, options, and futures for institutional investors. WEX offers clients multiple venues for execution, including a proprietary electronic trading platform, algorithms, direct floor access, and an agency brokerage desk. Leveraging expertise in trading technology and risk management, WEX provides clients with anonymity, superior execution, and order management, delivering innovative solutions for both technical and institutional trading styles. 

Options involve risk and are not suitable for all investors. Prior to buying or selling options, customers must review a copy of the Characteristic and Risks of Standardized Options (ODD).

For more information, visit www.tradewex.com

Contact Information:

Media Contact:
Margaret Nagle
Wolverine Execution Services
Office: 312.884.3442
Cell: 312.925.2703