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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New Study on Six Russell 2000 Options-Based Benchmarks Finds Higher Premiums and Risk-adjusted Returns for Certain Indexes

A newly published study examines six benchmark indexes that invest in Russell 2000® Index (RUT) options and compares their performances with those of traditional benchmark stock and bond indexes. This is the first comprehensive study that examines the performance of multiple options-strategy benchmark indexes that incorporate Russell 2000 Index options. Written by Mark Shore, an […]






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Record Open Interest of 2,333 Contracts for Options on MSCI Emerging Markets Index (MXEF)

The open interest for options on the MSCI Emerging Markets Index (MXEF) recently rose to a record 2,333 contacts. Several institutional investors have expressed interest in the potential for a liquid MXEF options contract, particularly because the MXEF options contract is cash-settled and has a notional size that is about 24 times larger than options […]






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Paper by Professor Bondarenko Has Intriguing New Analysis of the Premiums, Returns and Volatility of PUT and WPUT Indexes

A new 10-page study examines both the CBOE S&P 500 PutWrite Index (PUT) and the CBOE S&P 500 One-Week PutWrite Index (WPUT), comparing their performances with that of traditional benchmark stock and bond indexes. This is the first comprehensive published study that examines the performance of a benchmark strategy index that incorporates WeeklysSM options. Written […]






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Eight Charts to Recap 2015 – CNDR Index Rose 10.4%

End-of-the-year headlines noted “A Roller Coaster Year Ends with U.S. Markets Mostly Down” (New York Times) and “U.S. Stocks Post Worst Annual Losses Since 2008” (The Wall Street Journal). In this new year on Jan. 4, wsj.com noted “Weaker-than-expected manufacturing data and a falling currency triggered a 7% fall in mainland Chinese stocks that led […]






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Tim Edwards of SPDJI Covers Unique Performance of VIX-Based Benchmark Indices

At the First Annual CBOE Risk Management Conference (RMC) Asia in Hong Kong, Tim Edwards, Ph. D., Senior Director of Index Investment Strategy, S&P Dow Jones Indices, delivered a presentation on the design and performance of long, short and dynamic VIX-based benchmark indexes, and covered their utility for longer-term investors and shorter-term traders. While many investors […]






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New Barron’s Article and RMC Presentation on Funds’ Use of Options

Use of options by funds has grown tremendously since the 2002 introduction of the first major benchmark for options-based performance – the CBOE S&P 500 BuyWrite Index (BXM). Below are some recent developments and updates re fund use of options that will be covered at the First Annual CBOE Risk Management Asia Conference, which launches […]






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Discussion of Volatility of Volatility at RMC in Hong Kong on Dec. 1

On December 1st in Hong Kong at the First Annual CBOE Risk Management Conference (RMC) Asia, two expert speakers – William Chan, Equity Derivatives Strategist, Bank of America Merrill Lynch, and Michael Fagan, Chairman, Levitas Capital – will discuss the topic of Volatility of Volatility, and (1) Historical observations and interpretations for “vol-of-vol” surfaces, (2) […]






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More Tools for Managing Global Exposure – Added Expirations for Options on MSCI Indexes

Today CBOE added three new expirations for options on both the MSCI Emerging Markets Index (MXEF) and on the MSCI EAFE Index (MXEA). There now are six expiration dates for options on the MXEF and MXEA indexes – Nov-20-2015 Dec-18-2015 Jan-15-2016 Mar-18-2016 Jun-17-2016 Sep-16-2016 MXEF AND MXEA – PRICES AND IMPLIED VOLATILITY Below are two […]






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Skew Charts to Prepare for Conference in Hong Kong

This month I am planning to travel to the First Annual CBOE Risk Management Conference (RMC) Asia, which will be held on November 30 – December 1 at the JW Marriott Hotel, Pacific Place, 88 Queensway, Hong Kong. In my preparations for the trip, I am analyzing the skew charts for a number of option […]