Structured Products


Fortress Trading has a history of innovation.  Whether it's our founders being some
of the very first traders to deploy hand hold computers in the Chicago Board of
Trade's Treasury option pits or being among the first to deploy hand held
computers in the Chicago Mercantile Exchange's S&P 500 option pit and the
Chicago Board Option Exchange's SPX pit, we've always innovated.

Open-Ended Structured Products

We also look at strategies differently.  By combining option strategies with their
underlying vehicle or index we've developed several unique open-ended
investment methodologies.  These products are protected by pending patent
applications.  

Our goal is to create second generation products that are superior to the
underlying index as well as the existing option enhanced benchmark.

Our Enhanced Covered Call Indexes improve on the traditional index covered call
strategy.  Existing covered call products reinvest option premium received in the
index.  The Nations Enhanced Covered Call Indexes use this option premium
differently.  Our methodology generallly results in greater returns with less risk than
the underlying index.

The Nations Enhanced Collar Indexes improve on the tradition index collar
strategies.  In standard collar products, the protective put option is more expensive
than the covered call.  This is a major drawback for standard strategies since the
potential upside appreciation surrendered is greater than the downside protection
received.  Nations Enhanced Collar Indexes take advantage of this skew and the
terms structure of options to generate risk-adjusted returns superior to the
underlying index and the vanilla collar.










                  


Chicago has more movable bridges than any city in the world.  A few of those bridges are pictured at left.