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Secured Options Update

July 09, 2021

Maintaining a Defensive Position in July

The Glenmede Secured Option Strategy underperformed both the CBOE PutWrite and CBOE BuyWrite benchmarks from May 21 through June 18, 2021. Although we continue to be defensively positioned with a wider strike selection to create a larger downside buffer, we anticipate a possible opportunity to move into August as we get closer to the start of earnings season.