Logica Capital commentary for the month ended May 31, 2022.____ Logica Absolute Return (LAR) – Upside/Downside Convexity – No Correlation Tactical/dynamic balanced Put/Call allocation – StraddleLogica Tail Risk (LTR) – Max Downside Convexity – Strong Negative Correlation Tactical/dynamic downside tilted Put/Call allocation – Ratio StraddleSummaryThe S&P 500 Index closed flat for the month, but the path there was anything but smooth. In fact, it broached its lowest point since March 2021 before recovering its losses during the final week of the month. And in terms of volatility, despite the S&P…