ZBIG Strategy Update: Resetting the 2026 Builds, Designed to Protect Gains
By Michael Snyder
The Reset
ZEGA recently reset the ZBIG 2026 models by closing the existing options positions and rebuilding each model with the furthest available expiration, December 2028.
The reset is designed to lock in gains while maintaining market exposure for future growth. Acting before the 2026 options expire aims to reduce the portion of those gains that could be lost in a market selloff because the rebuilt positions are less sensitive to near-term market movements.
The technical term for this is ‘reduced delta exposure’.
The Outlook
The reset does not reflect a negative market outlook.
ZEGA’s core approach is to remain invested while using buffers and hedges to reduce reliance on market timing. The reset simply realigns the buffer with current market levels.
The models with options expiring in 2027 and 2028 were not adjusted. Our team will continue to monitor those positions and make changes when appropriate.
The Models
All five ZBIG models were included in the 2026 reset:
- ZBIG Leveraged
- ZBIG Standard
- ZBIG IRA
- ZBIG Treasury
- ZBIG Treasury Income
The five models provide distinct combinations of market exposure, buffer levels, and account suitability, allowing clients to select an approach aligned with their objectives and risk tolerance.
For investors seeking equity exposure with lower volatility, a buffered strategy may help support those objectives.
Reach out to ZEGA for more information and check out the resources for the ZBIG lineup on our website including the benefits and risks: https://zegainvestments.com/products/zbig