...-use rights only Mutual funds Complex instruments Derivatives Leverage Illiquid assets Borrowing Margin Short selling Options Futures Restricted securities Performance Risk Risk compensation G11 G23 Since 2000, there has been a rise in the complexity of mutual funds...

...George M. Constantinides; Michal Czerwonko; Jens Carsten Jackwerth; Stylianos Perrakis Constantinides and Perrakis (2002, 2007 ) derive a lower bound on the price of an option such that an investor increases her utility by buying the option at the ask price if the ask price is lower than the lower...

... are unexpected, and are also associated with a positive price jump in the parent company’s stock. Using a sample of 280 US announcement events from 1996 to 2013, we document significant pre-announcement informed trading activity in options for about 9 to 16% of events in our sample. In contrast, we find...