Matt Moran

Matt Moran

Matt Moran is vice president of business development for Chicago Board Options Exchange (CBOE), where he communicates with pension funds, mutual funds, and financial advisors. He has delivered more than 200 presentations worldwide on the topics of managing volatility and adding income with option-writing strategies. Previously, he served trust counsel at Harris Bank and vice president at Chicago Mercantile Exchange. He is an associate editor of two Institutional Investor publications — The Journal of Trading and The Journal of Index Investing. Mr. Moran holds JD and MBA degrees from the University of Illinois.

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18 Volatility Indexes in 2016: BPVIX Rose 277% before Brexit; VIX Futures Rose 55% on Election Night

CBOE offers more than 25 volatility indexes<http://www.cboe.com/micro/volatility/introduction.aspx> that can serve as valuable tools for investors who wish to gauge intra-day and long-term sentiment changes related to a variety of asset classes. In addition, investors take long and short positions in futures and options on key volatility indexes. The tables and seven graphs below provide an […]






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BXRD Index Is Up 9% since Nov. 8 Election, as CBOE Benchmark Indexes Hit All-time Highs

More than fifteen CBOE strategy benchmark indexes (including BXD, BXM, BXMC, BXMD, BXMW, BXR, BXRC, BXRD, BXY, CLL, CLLR, CLLZ, CMBO, PUT, PUTR, RXM, VPD, VPN, and WPUT) hit all-time daily closing highs on December 20. BXRD INDEX As shown in the first graph and table below, the CBOE Russell 2000 30-Delta BuyWrite Index (BXRD) […]






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Yield-Hungry Investors Explore CBOE’s Option-Selling Benchmarks During Bond Market “Rout”

Here are some highlights from recent news stories on the bond markets – A Wall Street Journal story had the headline “Government Bond Rout Deepens on Trump’s Economic Plans,” A Barron’s story noted that Jeffrey Gundlach, CEO of DoubleLine Capital, sees “a rise in bond yields that could lift the yield on the 10-year Treasury […]






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On Election Eve, Volatility Indexes for Stocks, Gold, Currencies & Volatility Fall By More than 8% (after Record 9-Day Up-Streak)

Last week I heard about quite a bit of new interest in portfolio protection strategies, and on November 4 the CBOE Volatility Index® (VIX®) rose on a ninth consecutive day (a new all-time record for the VIX Index over its price history dating back to January 1990). However, on November 7, the date before the […]






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Big Week for New Inquiries Re: Portfolio Protection, as Daily Volume Spikes for SPX Puts (992k), VIX Calls (590k), and VIX Futures (319k)

This week has been a big week regrading new interest in tools for portfolio protection. We spoke with a Wall Street Journal reporter to provide information on the VIX and VVIX indexes that was used in a story entitled “Election Fear Creeps Into the Market.” In addition, I spoke with multiple investment advisers who said […]






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Open Interest Rises to 9 Million for SPX Puts and 4.7 Million for VIX Calls, while Implied Vol is Higher for the Nov. 9 Index Option Expirations

Several recent news stories have covered this topic – how can investors protect their portfolios in the event of stock market moves during and after the U.S. election on November 8? For investors who are concerned that stock indexes could decline and volatility indexes could soar in future weeks, two of the simpler index option […]






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VVIX Index Spikes 21% on News of Federal Investigation

OCT. 28 – On Friday afternoon a news story at wsj.com<http://blogs.wsj.com/moneybeat/2016/10/28/markets-rattled-by-fresh-fbi-review-of-clinton-email/?mod=djemalertMARKET> noted that – “Worries about a surprise election outcome resurfaced anew in financial markets on Friday afternoon after the Federal Bureau of Investigation uncovered new evidence in its investigation of Democratic presidential candidate Hillary Clinton‘s email server. … The news sent ripples through stocks, […]






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Election Week SPX Expirations on Monday, Wednesday and Friday, with Higher Implied Volatility for SPX Puts on Nov. 9

In the October 22 Striking Price column in Barron’s, Steve Sears wrote –“keep an eye on the CBOE Volatility Index, or VIX. Already, some investors are preparing for significant volatility around the Nov. 8 election. Investors recently bought about 6,000 VIX Nov. 30 calls and about 9,000 Nov. 17 calls.” IMPLIED VOLATILITY FOR S&P 500 […]






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News Story by Pensions & Investments Highlights Put-write Strategy, PUT Index and New Wilshire Paper

An October 3 news story – “Funds go exotic with put-write options to stem volatility” – in Pensions & Investments noted that put-write options strategies “are finding their way into more pension fund allocations to protect against volatility and, in some cases, take the place of fixed income as an income provider.”  The news story […]