Topic

Box Spreads

Box spreads as a borrowing tool: the four-legged trade, the BOXX ETF, and how it produces a synthetic loan at near-Treasury rates.

7 posts

Cartoon revealing the box-spread borrowing market is undercounted, closer to $2 trillion than $1 trillion

"Significant undercount" in $1 trillion box borrowing possible AUM

Dec 12, 2025

Box-spread strategy AUM estimated near one trillion dollars and possibly understated

Yes, really, $1 trillion in box-spread AUM

Nov 20, 2025

Cartoon on the box-spread options trade as a borrowing tool, framed as $1 trillion in AUM up for grabs

$1 trillion box-spread AUM is up for grabs

Oct 5, 2025

Graphic asking whether margin call risk threatens tax-efficient products built on long/short and box spreads

Tax-Aware Long-Short

Margin call me maybe

Sep 28, 2025

Cartoon questioning whether box-spread borrowing is truly free of credit risk when the borrower is the weak link

Box spreads are "effectively free of credit risk"...I guess?

Sep 23, 2025

Cartoon laying out five intuitive ways to understand the box spread as a low-cost borrowing tool

Better borrowing via box spread? Why it's worth grokking the box

Sep 21, 2025

Cartoon dissecting the BOXX box-spread ETF and how state income tax bites into its tax advantages on sale

What's in the BOXX? Part 1: State Rates

Dec 8, 2024