John Angelos

John Angelos

Director, CBOE

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CDX: A VIX and SPX Leading Indicator?

I would imagine that since you are reading this blog you are already familiar with VIX and the highly negative correlation it has to SPX, so I won’t expand on that any further. However you may not be as familiar with CDX which is a basket of Credit Default Swaps (CDSs). A CDS represents the [...]

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Where Have All the Volumes Gone?

During and after the 2008 Financial Crisis extreme volatility caused volumes on listed exchanges to EXPLODE setting continuous annual records through 2011. As a result of this tumultuous period, market participants migrated from Over-the-Counter (OTC) markets to regulated listed derivatives exchanges where liquidity remained deep, transparency was great and counterparty risk was reduced, causing a [...]