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Aire Capital Management

aire.altavra.com

Open A Futures and/or Forex Trading Account.

Manager Name: Aire Capital Management
Program Name: General Program
Minimum Investment: 50,000 USD
Strategy: Market Neutral, Option Trading
Markets: S&P 500
Restrictions: None
Disclosure Document: Call
Management Agreement: Call
Download Page: Download PDF Version: Aire Capital Management
Print Page: Printable Version: Aire Capital Management
Disclosure Statement: Open

View The Performance Report for

Aire Capital Management

includes free access to the managed futures database

Commodity Trading Advisor (CTA) Report: Aire Capital Management

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Online Account Application: open.altavra.com / Account Forms: forms.altavra.com / Manager Shortcut: aire.altavra.com

Managed Futures Program Description: The Trading Strategy

 

Aire Capital Management LLC is a Commodity Trading Advisor (CTA) that studies financial markets with the goal of developing and implementing strategies to generate better than average growth to investment portfolios. Aire Capital Management, LLC’s trading strategies seek to be flexible enough to profit in rising markets as well as declining markets. (The potential for loss is, of course, also equal.) Additionally, Aire Capital Management, LLC trading strategy has the potential to perform well in both inflationary and deflationary periods (unlike stocks). Past results are not necessarily indicative of future results. The risk of loss in trading futures, options and off-exchange forex can be substantial.


The Aire Capital Management, LLC strategy is based on the belief that investments in stock indexes, not individual stocks or sectors, hold more possibilities for growth than trend following and “buy and hold” strategies. Aire Capital Management, LLC believes that their approach to investing will continue to be more effective in repairing the damage that was caused to portfolios by the bear market beginning in 2007 and in generating growth to new portfolios. The markets do not operate in a static environment. They are constantly changing. In order for Aire Capital Management, LLC strategies to continue to work it is necessary to continually evaluate where we have been and where we are going and adjust accordingly.


Aire Capital Management, LLC trading strategy incorporates five vital elements; fundamental analysis, technical analysis, strategy, money-management and risk assessment. Fundamental analysis is the study of the economic environment, both macro and micro. It is the study of supply and demand, interest rate policy, labor productivity and monetary policies. Fundamental analysis also considers the state of our economy as well as the global economic and political situation. The use of fundamentals assists in recognizing potential trading opportunities and aids in determining what the market is thinking and how it might react. Technical analysis is the study of price movement in the context of statistical and probability outcomes. It is the study of price pattern histories in order to predict how prices might react in the future. The use of technical analysis assists in determining a more favorable entry or exit of Aire Capital Management, LLC positions.

 

After assessing both fundamental and technical conditions of the market Aire Capital Management, LLC then ascertains the best strategy. At the present time Aire Capital Management believes that the Trading of “ around the money “ options of the S&P 500 futures index couple with a systematic futures trading program is the best strategy. Proper money management is imperative to the long term success any portfolio. We understand the importance of this issue and are constantly implementing proper money management techniques. The final element to our plan is risk assessment. We are continually analyzing the markets to ascertain the risks. Risk assessment and money management work together. There are times when we are actively positioned in the markets and times when we are not depending on Aire Capital Management, LLC opinions of the risk assessment. Although risks cannot be eliminated and profits cannot be guaranteed through money management and risk control, these two steps are vital for the long-term growth we wish Aire Capital Management, LLC clients to attain.

Aire Capital Management, LLC will try to take advantage of the financial markets using simplified strategies. One of these strategies involve the trading of “near the money “puts and calls on the S&P 500 future options. A second strategy will incorporate a futures trading program on the S&P 500 index. or other suitable commodities. We look for investment opportunities trying to capitalize on the fear and greed of the average investor. Aire Capital Management, LLC will follow a long-term plan for portfolio growth and protection. There are times when Aire Capital Management, LLC is not in the markets at all and others when we are fully invested.

 

At present, the main strategies that best meets Aire Capital Management, LLC criteria for effective growth to risk management is one that focuses on the trading (buying and selling) of “near the money” options using the S&P 500 Futures contract as well as systematically employing a futures trading program. These 2 strategies will be used in conjunction which each other. The goal of these 2 strategies combined is a return between 12%-18%. Aire Capital Management requires an initial minimum capital amount of $50,000.There is no guarantee that past performance will be the same as future performance. There is no guarantee that we will achieve the goals we have set in the future. The goals should be used in conjunction with the amount or risk associated with the program.


If there is another terrorist attack or other similar event, the drawdown could be severe depending on many factors including our positions and the length of time until expiration. The objective of our strategy is to achieve substantial capital appreciation through the speculative trading of futures contracts, options on futures contracts, and other futures-related interests. These all entail a comparatively high level of risk. Aire Capital Management, LLC will engage in the strategies of trading (buying and selling) of options (puts and calls) on stock index futures. As well as, trading (buying and selling) futures. However, in the future, Aire Capital Management, LLC may trade a broader portfolio of options, futures and cash markets including agricultural products, metals, currencies, financial instruments, stock and financial and economic indices. For the purpose of this program all trading will be completed on exchanges located in the United States.


As stated above, the main strategy of Aire Capital Management, LLC is one of trading” options and futures on stock index futures, though if we see an opportunity, other indexes may be used. The seller (writer) of an option risks losing the difference between the premiums received for the option and the price of the underlying futures contract that the writer must purchase upon exercise of the option. This could subject the writer to unlimited risk in the event of an increase in the price of the contract to be purchased or delivered. The buyer of an option risk losing the premium paid as well as all associated fees and commissions.

Options pricing consist of two components, intrinsic value and time value. Intrinsic value is the amount the option is in the money and time value is the premium received less intrinsic value. Aire Capital Management, LLC mainly uses out of the money options, thus there is no intrinsic value, only time value but could from time to time hold options “in the money" .By definition In-the- money- A call (put) whose exercise price is lower (higher) than the current price of the underlying. Out-of-the-money. A call (put) whose exercise price is higher (lower) than the current price of the underlying.

 

Determining the trading range, the individual strike prices and the quantity of calls and puts is dependent upon the five-part strategy we explained above. In analyzing the strike price we take into consideration prices of the options, where volatility is and how much time remains until expiration. In the beginning of the period we may be 5% away from the current level of the S&P 500 Futures price, with only one week left we may be 3% or less away. The percentages constantly change depending on market activity and the length of time until expiration. There is no guaranteed safe percentage that can be used.

Program Description: How It Works
The first step is analyzing the fundamental environment of the market: Aire Capital Management, LLC then tries to determine the current trading range using technical analysis. In essence, we are trying to determine where the market will go over the near term, as this is often easier than determining where the market will go in the distant future. Call and put options are bought and sold at different strike prices around the money with in the predicted trading range. This is generally, but not always, within 3 to 15 days of expiration. If the market moves within the expected range then the near the money options will or should produce ample trading opportunities. Aire Capital Management, LLC is different than the average person who just buys options or just sells options. We know that most often, options expire worthless. Our goal is trade the options based on time to expiration, direction and volatility. The second part of Aire Capital Management, LLC strategy is the trading of futures of the above mentioned options. By employing both parts simultaneously, Aire Capital Management, LLC is not dependent on one method only to try and achieve performance goals.


The strategies’ main benefit is its flexibility. Aire Capital Management, LLC is not bias to a long or short position only. Options are bought or sold based on market direction, premium cost, volatility, time to expiration. In addition, there is the ability to adjust the number of options on either the put side or the call side, which allows us to adjust to an index’s price movement in any one direction. There is continuous monitoring of positions in relationship to the price movement of the market, volatility and economic and political developments, both here in the United States and abroad. Flexibility allows us to change the trading range whenever it becomes advantageous or necessary.
 

Management Information: Kevin MacLean

Kevin MacLean is Managing Director of Aire Capital Management, LLC. Kevin MacLean worked on the floor of the Chicago Mercantile Exchange from Aug 1992 until April 2003. Kevin MacLean began as a floor runner with Lind Waldock (Futures Commission Merchant) and then became a phone clerk for the agricultural pits and additionally as a balancer in the back offices. Kevin MacLean was responsible for the Bear Stearns Options Desk (Investment Bank) from April 1996 through February 2000. At Bear Sterns Kevin MacLean managed the order flow and execution of clients trading accounts. Kevin MacLean became a registered floor broker after leaving Bear Sterns and initiated the development and implementation of a futures and options Arbitrage desk specializing in the trading of S&P 500 futures contracts for Fimat USA/Societe Generale (Futures Commission Merchant and French Bank) in February 2000. Kevin MacLean then operated as Vice President of Institutional Sales for Fimat USA/Societe Generale and was responsible for advising his clients on option strategies in addition to placing discretionary trades. Upon leaving Fimat USA/Societe Generale in October 2001, Kevin MacLean established his own trading desk specializing in the trading of S&P 500 futures options where he cleared through LFG, Refco (Futures Commission Merchant). Kevin MacLean was responsible for executing trades for his clients worth more than $100 million. In April 2003 Kevin MacLean left the floor and began trading private client’s funds.

 

Kevin MacLean became a Principal of Zephyr Asset Management, a Commodity Trading Advisor (CTA), September 17, 2004 and an Associated Person October 13, 2004. Kevin MacLean maintained this position until June 18 2008 and withdrew November 22 2009. Between November 2009 and October 2011 Kevin MacLean was engaged in personal development, elder care and preparations for Aire Capital Management. Kevin MacLean became a Principal of Aire Capital Management Commodity Trading Advisor) on October 13 2011 and an Associated Person on October 13 2011.

 

The descriptions above are from the manager’s disclosure document.

 

THE RISK OF LOSS IN TRADING FUTURES, OPTIONS AND OFF-EXCHANGE FOREX CAN BE SUBSTANTIAL.  PAST RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.  PLEASE READ THE CTA'S RISK DISCLOSURE DOCUMENT CAREFULLY BEFORE INVESTING MONEY. 

 

Disclosure Statement    Download Page Download PDF Version: Aire Capital Management    Print Page Printable Version: Aire Capital Management

 

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THE RISK OF LOSS IN TRADING FUTURES AND OPTIONS CAN BE SUBSTANTIAL. PAST RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. THIS MATERIAL HAS BEEN PREPARED BY A SALES OR TRADING EMPLOYEE OR AGENT OF ALTAVRA AND IS, OR IS IN THE NATURE OF A SOLICITATION. THIS MATERIAL IS NOT A RESEARCH REPORT PREPARED BY AN ALTAVRA RESEARCH DEPARTMENT. YOU AGREE THAT YOU ARE AN EXPERIENCED USER OF THE FINANCIAL MARKETS, CAPABLE OF MAKING INDEPENDENT TRADING DECISIONS, AND AGREE THAT YOU ARE NOT, AND WILL NOT RELY SOLELY ON THIS DOCUMENT IN MAKING TRADING DECISIONS. (ALTAVRA.CO/RISK)

THIS CONTENT AND ALL OF ITS LINKS ARE FOR INFORMATIONAL PURPOSES ONLY, AND IS CURRENT ONLY AS OF THE DATE(S) HEREOF. IT DOES NOT CONSTITUTE A SOLICITATION FOR ANY CTA OR TRADING PROGRAM, AND THE INFORMATION IS SUBJECT TO CHANGE WITHOUT NOTICE. THE FIGURES CONTAINED HEREIN WERE OBTAINED OR COMPILED FROM INFORMATION PROVIDED BY THE CTA, TRADER OR THEIR REPRESENTATIVES. NEITHER ALTAVRA NOR ANY OF ITS AFFILIATES OR EMPLOYEES MAKES ANY ENDORSEMENT OR REPRESENTATION AS TO ITS ACCURACY, VALIDITY OR COMPLETENESS. THE INFORMATION HAS NOT BEEN INDEPENDENTLY VERIFIED AND THEREFORE CANNOT BE GUARANTEED. WHILE ALTAVRA MAY PROVIDE INVESTORS WITH CTA ANALYSIS, ALTAVRA DOES NOT PROVIDE “DUE DILIGENCE” ON AN INVESTOR’S BEHALF AND IS NOT RESPONSIBLE FOR A CUSTOMER’S INVESTMENT DECISIONS.

NO OFFER OR SOLICITATION MAY BE MADE PRIOR TO REVIEW OF THE CTA’S CURRENT DISCLOSURE DOCUMENT (
FORMS.ALTAVRA.COM), WHICH INVESTORS SHOULD READ CAREFULLY PRIOR TO INVESTING. INVESTORS MAY ALSO WISH TO CONSULT THEIR LEGAL, TAX AND INVESTMENT ADVISORS TO DETERMINE WHETHER AN INVESTMENT IS APPROPRIATE IN LIGHT OF THE INVESTOR’S RISK TOLERANCE, INVESTMENT OBJECTIVES AND FINANCIAL SITUATION.

ALL FUTURES AND OPTIONS TRADING INCLUDING MANAGED FUTURES IS SPECULATIVE, INVOLVES A HIGH DEGREE OF RISK AND IS SUITABLE ONLY FOR PERSONS WHO CAN ASSUME THE RISK OF LOSS IN EXCESS OF THEIR MARGIN DEPOSIT. NO REPRESENTATION OR ASSURANCE IS MADE THAT ANY CTA OR TRADING PROGRAM WILL OR IS LIKELY TO ACHIEVE ITS OBJECTIVES, BENCHMARKS OR TARGETED RETURNS OR THAT ANY INVESTOR WILL OR IS LIKELY TO ACHIEVE A PROFIT OR WILL BE ABLE TO AVOID INCURRING SUBSTANTIAL LOSSES.

 
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