These are the latest box spread financing rates.

You can currently lock in sub-4% rates by borrowing directly from the options market.

On the small end, we’ve borrowed as little as $10k for a month to bridge short-term liabilities before year-end bonuses hit.

On the larger end, we’ve borrowed ~$1M to purchase real estate with cash.

Initially, I thought what made box spreads special was simply:

• The rate
• The tax deductibility

But over time, I’ve come to appreciate something else just as much:

Speed and flexibility.

There’s no credit check.

No underwriting process.

No back-and-forth with a bank.

We execute the trade inside the brokerage account and the cash is available immediately.

A lot of people keep working with large firms they don’t even like (their words), purely because of the financing those firms offer.

If you can replicate or improve that liquidity through tools like box spreads, you’re no longer “held hostage” by the lending arm of a wirehouse/bank.

That makes this a good time to ask:

Would an independent fiduciary who can use any financial tool (rather than what’s most profitable for a big firm), better serve you and your family?