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Portfolio Manager, Derivatives

Sean E. Heron, CFA

Sean E. Heron, CFA, is a Portfolio Manager on the Derivatives team for The Glenmede Trust Company, N.A., and a Portfolio Manager for Glenmede Investment Management LP. Sean manages the secured options products and leads a team responsible for providing clients with options and some alternative strategies.

Mr. Heron began his career with Goldman Sachs. In 2003, he left the firm to help former Goldman Sachs Managing Director Thomas McGowan launch McGowan Investors, LP.

Mr. Heron graduated from LaSalle University with a B.A. in Finance and an M.B.A in Accounting.  He received his Chartered Financial Analyst® designation in 2004.

Mr. Heron is a board member of the CFA Society of Philadelphia and serves as an instructor for the CFA Exam and as an Adjunct Professor at Rutgers University.

Insights by Sean E. Heron, CFA

Secured Options Update

July 21, 2022

Bullish heading into August Expiration Cycle

We remain bullish heading into the August expiration cycle as inflation and geopolitical fears continue to drive option premiums higher.

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Secured Options Update

July 1, 2022

Bullish outlook in July despite market volatility

We remain bullish heading into the July expiration cycle as market volatility remains elevated and upside versus downside skew is at the low end of its historical range.
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Secured Options Update

June 6, 2022

Bullish heading into June expiration cycle

We believe investors are reducing their downside hedges and increasing participation, which is why we are more bullish heading into the June expiration cycle.
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Secured Options Update

May 2, 2022

Glenmede Secured Options Strategy Bullish Heading Into May

The Glenmede Secured Options Strategy is bullish heading into April with what we believe is a potential 36 bps advantage in an up market and a potential 39 bps disadvantage in a down market.
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Secured Options Update

April 1, 2022

Timing of S&P 500 Rally a Disadvantage for Our Bullish Positioning

The Glenmede Secured Options Strategy is bullish heading into April with what we believe is a potential 36 bps advantage in an up market and a potential 39 bps disadvantage in a down market.
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Secured Options Update

March 2, 2022

Strategy delivers positive return in a down market in February

The Glenmede Secured Options Strategy outperformed the S&P 500 in February, delivering a 38-basis-point return in a down market. Even with elevated market volatility and geopolitical fears driving option premiums higher, we continue to be bullish heading into March.
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Secured Options Update

January 31, 2022

Defensive Positioning and Expiration Trading Drive Strategy to Outperform Benchmark

The Glenmede Secured Options Strategy outperformed the benchmark in January, driven by a combination of our defensive positioning and expiration trading.
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Secured Options Update

December 13, 2021

Maintaining our Defensive Position into December

Glenmede's Secured Options Strategy fell behind our benchmark in November, but our process for cycling through monthly expiration allowed us to outperform our expected cap.
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Secured Options Update

November 5, 2021

Maintaining a defensive position in November

With downside protection buyers bidding up defensive positions, the Glenmede’s Secured Options Strategy remains defensively positioned versus the option benchmark.
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Secured Options Update

September 27, 2021

Defensively Positioned With Increased Upside Potential

Glenmede’s Secured Options Strategy underperformed the benchmark from August 20-September 17. We remain defensively positioned heading into October, although not as much as last month because recent volatility has increased the upside potential.
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