Steve Claussen

Steve began his trading career in 1983 on the floor of the Chicago Board of Trade and progressed to the Chicago Board Options Exchange as Lead Market Maker for O'Connor and Associates, LLC, becoming one of the largest market makers in the SPX and OEX option trading pits. Steve left the floor in 1990 to become Risk Manager for O'Connor, in charge of listed and OTC Index trading. Mr. Claussen spent five years overseas in Tokyo and London for Swiss Bank Corporation as Executive Director and head trader, focused on Asia Pacific derivative products. After returning to the U.S, Steve was Managing Director at Wachovia Securities, LLC, as Head of Derivatives Trading. In 2005, Steve arrived at PEAK6 Investments, L.P — a proprietary equity options trading firm headquartered in Chicago — and the parent company of OptionsHouse. Mr. Claussen joined OptionsHouse in 2008.

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Chips off the table? Using the Call overwrite

Option volume is starting to pick up the past couple of days so it appears that traders are starting to notice that market has experienced a nice run this summer.  Since June 1st when the SPX closed on a low of 1278.04, Friday’s close of 1437.92 represents a gain of 12.5%!  That’s really impressive especially [...]

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What Wall of Worry? Implied Volatilities are Low

If this rally is climbing a wall of worry shouldn’t there be more of a risk premium? Many market pundits are calling the recent advance in share prices “The rally that everyone hates!” It seems apparent that many money managers are sitting on the sidelines, unwilling or too worried to buy into a market that [...]

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Citibank’s Upcoming Reverse Split

This week marks the final days that Citibank will be trading below $5 per share (or even $20 per share) for some time! This is not due to the business getting remarkably better and the prospects for the shares becoming suddenly bullish. Rather, the company will be going through what is known as a reverse split of [...]