Existing lenders were in a power position, having to amend to approve the incremental debt used to fund the dividend, and second-lien investors in particular were concerned about the additional first-lien debt coming in ahead of them.

FORBES: Dividend finance rises on strong credit conditions

Those customers tend to have a very specific goal and a strong idea of what they want to do with those orders, be it entering or exiting the underlying market as investors, protecting their equity investments, gaining incremental income over and above simply holding a stock or exchange-traded fund position, or seeking to gain additional leverage.

FORBES: Examining The Options Flash