Managed Futures Database, Resource & Tools

Program Details



Kingsview Theta Stock Index System (SIS)

Manager: Philip Silverman

Address: 233 Broadway Suite 2705, New York, NY, 10279, U.S.A.



Program Type:CTA
Inception Date:Oct 21, 2008
Incentive Fee:25%
Annual Mgt Fee:2%
Min Investment:$50,000
Disclosure Doc:View
Performance Program S&P 500
Total ROR:2.59%107.11%
Annual ROR:0.77%24.41%
1 Year:0.00%15.09%
Statistics Program S&P 500
Average Monthly Gain:4.94%3245.53%
Average Monthly Loss:-7.29%-3.40%
Winning Months:2529
Losing Months:1511
Current DD:27.343.75
Max DD:41.1224.12
Sharpe Ratio (RF 1%):-0.01
Annualized Std Dev:26.45




DirectionalLong / Short
Holding PeriodLong Term
Option Writing:100%

Monthly Returns as Percentage by Year

JanFebMarAprMayJunJul AugSepOctNovDecYTD


Program Info

Investment Objective The Kingsview Management Retail Program seeks to maximize investment returns by capitalizing on opportunities within the changing market environment within acceptable risk level consistent with the preservation of the Programs assets.

Investment Strategy The Program follows a two-part strategy. First, the Manager creates credit spreads by simultaneously purchasing and selling put and call options with differing strike prices and expiration dates. Using primarily S&P 500 futures contracts, the Programs assets profit from price differences between the long and short options due to the volatility inherent in the market, the spread between the market and option strike prices, and, most importantly, the decrease in the time to expiration of the options. Second, the Manager purchases out-of-the money puts with differing strike prices to hedge the downside risk associated with extreme downward events in the market and significant increases in volatility, and to take advantage of time premium decay rate differences.

NO sales of naked S&P 500 options Kingsview deems the sale of naked or un-covered options on the S&P 500 outside acceptable risk levels and therefore does not engage in the practice. At all times the Programs assets will be long a greater number of puts than it is short.

Risk Management Procedures

The Manager closely monitors the portfolio DELTA to signal a moderately bullish or bearish position in order to maintain acceptable exposure to market movements.

Extra significance is placed on HEDGING the downside risk of the Programs assets at all times due to the greater probability of an extreme downward event in the market. To hedge this risk, the Manager strategically purchases out-of-the-money put options with varying characteristics to reduce portfolio risk in the event of an extreme downward shift in the market.

Under certain market conditions the Manager will also buy out-of-the-money calls to hedge against a quickly rising market.

Ongoing adjustments are made in order to preserve capital, maximize returns and minimize risk levels given current market conditions.

Company Info

Kingsview Management is a Commodity Trading Advisor, registered with the Commodities and Futures Trading Commission and a member of the National Futures Association. We specialize in managed futures products for an exclusive, high-net worth clientele, offering investment services for retail, institutional and private investors. We believe that our emphasis on client service and our teams experience and success in the financial markets set us apart from the myriad of other investment advisors available. Kingsview Management is focused on the needs of our individual clients, and we strive to help them achieve their investment goals.

Manager Info

Philip Silverman. From 3/17/06 to the present, Mr. Silverman has been a principal of Kingsview Capital LLC and Kingsview Management LLC. He was approved as an Associated
Person of both Kingsview Capital LLC and Kingsview Management LLC on 3/24/2006. Mr.
Silverman has extensive experience trading the financial markets and serves as Portfolio Manager
of both Kingsview entities. He is also an AP and Branch Manager of the New York office of
Direct Futures, LLC, an Introducing Broker, since 11/16/07 to 5/18/2010. Mr. Silverman became
registered as an AP of Kingsview Financial LLC, an introducing broker as of May 17, 2010 and
Branch Manager pending 6/29/2010. Mr. Silverman is a registered representative in the securities
area with Vision Brokerage Services, a Broker Dealer, since as of November 30, 2009.
Previously, he was registered with Further Lane Securities , L.P., a Broker Dealer, from
November, 2004 to March 2005, Vision from February, 2007 to July 2008 and U.S. Financial
Investments, Inc., a Broker Dealer, from July, 2008 to September, 2009. From June 4, 2003
through March 1, 2006, he has held the position of Portfolio Manager and Trader for West End
Financial Advisors LLC, an alternative investment management firm who is the general partner
of several hedge funds, and for West End Financials affiliate company Sentinel Investment
Management Corp, a SEC Registered Investment Advisor, where he managed portfolio's for high
net worth individuals and hedge funds. At West End/Sentinel Mr. Silverman took an active role
in the development of trading strategies and new products. Prior to that, from March 1, 2002
until June 4, 2003 he was an analyst and then portfolio manager for Univest Associates, an
investment management firm in a small family office. From May 1998 until February 2002 Mg.
Silverman was self-employed trading his own account. While finishing up his Bachelors degree
Mr. Silverman worked in the Private Client Group of Merrill Lynch and Co from February 1996
through January 1998. At Merrill Lynch Mr. Silverman served as an assistant to a Financial
Representative. From February, 1998 through April, 1998 he continued as a student. He holds a
Bachelors degree in Biology from the University of Vermont and a MBA with a concentration in
finance from New York University's Stern School of Business. He has FINRA Series 3, 7, 24, 30
and 63 registrations.