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Volatility Trading Program

The Volatility Trading Program is the flagship trading program for AP Futures, LLC. The program primarily trades VIX Futures and seeks to profit from both directional movements and relative value opportunities along the VIX Futures curve.  Please view our Investment Programs page to learn more about our perspective on investing in the markets or request our Disclosure Document for more detail on the trading program.

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The Principal of the Advisor, Andrew Haleen, has traded this strategy since September 2013. Initially, Mr. Haleen traded only for himself in a proprietary account, but after receiving interest from outside investors, he began managing outside funds in an exempt capacity. On December 29, 2016, Mr. Haleen registered AP Futures, LLC as a Commodity Trading Advisor ("CTA") with the Commodity Futures Trading Commission ("CFTC").

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This trading program is currently open to new accounts.

Performance Drivers

  • Volatility Risk Premium

  • Dynamic Market Exposure

  • Relative Value Based Security Selection

  • Active Risk Management

Anchor 1

Historical Performance

The performance shown below represents the period from September 17, 2013 through October 31, 2024*. Please refer to the Disclosure Document for complete details and disclosures. Past results are not necessarily indicative of future results. 

Cumulative Performance (Net of Fees):

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Monthly Performance Detail (Net of Fees):

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© All Rights Reserved.  AP Futures, LLC.

The risk of loss in trading commodities & futures contracts can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. The high degree of leverage that is often obtainable in commodity trading can work against you as well as for you. The use of leverage can lead to large losses as well as gains. In some cases, managed commodity accounts are subject to substantial charges for management and advisory fees. It may be necessary for those accounts that are subject to these charges to make substantial trading profits to avoid depletion or exhaustion of their assets. The disclosure document contains a complete description of the principal risk factors and each fee to be charged to your account by the Commodity Trading Advisor ("CTA"). The regulations of the Commodity Futures Trading Commission ("CFTC") require that prospective clients of a CTA receive a disclosure document at or prior to the time an advisory agreement is delivered and that certain risk factors be highlighted. This document is readily accessible from AP Futures, LLC. This brief statement cannot disclose all of the risks and other significant aspects of the commodity markets. Therefore, you should thoroughly review the disclosure document and study it carefully to determine whether such trading is appropriate for you in light of your financial condition. The CFTC has not passed upon the merits of participating in this trading program nor on the adequacy or accuracy of the disclosure document. Other disclosure statements are required to be provided to you before a commodity account may be opened for you. 

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