Category Archives: Market News

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The Weekly Options News Roundup – 9/19/2014

Your weekly recap of CBOE features, options industry news and VIX and volatility-related articles from print, broadcast and online and social media outlets. Applause, Applause Global Capital magazine held its annual Global Derivatives Awards ceremony in London Thursday evening, handing out several financial industry awards.  CBOE is honored to be named “Equities Exchange of the [...]

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Weekly Market Commentary 9.19.14

Early this week, $SPX closed at a new relative low, and many of the indicators appeared to be turning bearish (for example, $VIX closed above 14).  However, prices have rallied since then, and $SPX made a marginal new all-time high today — both intraday and closing.  Is this probe upwards more effective than the probe [...]

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Weekly Weekly’s for 9.18.14

Where does the trade go from here?  I’m Angela Miles, and that is what I am covering today. Option’s plays in hot stocks going into next week’s options expiration. Let’s get it started with the grand-daddy of them all: Apple. Apple’s iPhone 6 hits store shelves tomorrow. Implied volatility has remained tame with many traders [...]

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Blogging Options: CBOE Morning Update 9.18.14

Weekly Housing numbers bullish, but Housing Starts fell ~14%.  European shares higher, election results from Scotland before today’s US close?  Philly FED ay 9am CDT.  Triple Witch this afternoon and tomorrow.  BABA prices after the close today.  Volatility as an asset class Yahoo (YHOO) is up $0.46 to $43.05 in the premarket into the IPO [...]

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Blogging Options: CBOE Morning Update 9.17.14

FedEX beat estimates by $0.14 this morning, helped by stock repurchase program.  Sony announced a $2 Billion loss due to smart phone sales dropping.  Eyes (Ayes?) on Scottish vote tomorrow.  Some traders thinking early results could be announced while US markets still open.  Triple Witch Friday.  Janet Yellen makes appearance this aternoon. Volatility as an [...]

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Blogging Options: CBOE Morning Update 9.15.14

Empire State bounced back as expected, following a sharp drop in the previous month.  Industrial Production fell 0.1% in August (+0.3% expected). Oil down, Gold a little higher; 10-year dips below 2.59%.  Triple Witch, Scottish vote and Alibaba (BABA) should be on the watch list this week.  How ’bout those (Chicago) Bears!  Volatility as an [...]

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The Weekly Options News Roundup – 9/12/2014

Your weekly recap of CBOE features, options industry news and VIX and volatility-related articles from print, broadcast and online and social media outlets. Financial Movers and Shakers Each year Crain’s selects and highlights movers and shakers in the Chicago business sector.  Once again, CBOE’s CEO Ed Tilly and Chairman of the Board William Brodsky are [...]

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Blogging Options: CBOE Morning Update 9.12.14

August Retail Sales up 0.6%, X-Autos higher by 0.3%.  X-Autos matched July, and the lowest reading in 7 months.  Eyes on Europe.  An article on anticipated Alibaba (BABA) options listing in this space yesterday, scroll back and check it out.  Markets flat to lower at opening bell.  Volatility as an asset class: Ulta Salon (ULTA) [...]

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This Week in VXST – 9/5/2014

VXST moved up a little on Monday, as it always does after a long weekend and worked higher into Friday’s employment report on Friday. Note that on Friday, with the S&P 500 under a little pressure, VXST actually opened lower. We are still getting a feel for how VXST acts around big economic numbers and [...]

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Day 3 CBOE RMC Europe Recap

The final day of the 2014 edition of CBOE RMC Europe began with an excellent keynote presentation from Pete Clarke the Global Head of Equity Derivatives Strategy at UBS. He spoke on Global Equity Derivatives Trading Themes – Dislocations and Opportunities for a Diverse Investor Base. He discussed several trading themes but did end with [...]

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CBOE RMC Presentations on Structured Products & Their Impact on Markets

Informative presentations on “Structured Products & Their Impact on Markets: What You Need to Know” at the CBOE Risk Management Conference Europe on Sept. 5th in Ireland by – (1)   Ms. Delphine Leblond-Limpalaër, Equity Derivatives Specialist, Société Générale, and (2)   Mr. Peter Murphy, Founder, P. M. Murphy Ltd. Topics covered by the speakers included – – Structured [...]

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The Weekly Options News Roundup – 9/05/2014

Your weekly recap of CBOE features, options industry news and VIX and volatility-related articles from print, broadcast and online and social media outlets. More Interest In Volatility CBOE continues its legacy of innovation with its latest addition to their volatility suite.  On November 13th, the CBOE/CBOT 10-year U.S. Treasury Note Volatility Index will begin trading [...]

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RMC Presentation on Tail Hedge Management

Mr. Angel Serrat, Partner and Chief Investment Strategist of Capula Investment Management, delivered a presentation on Tail Hedging at the CBOE Risk Management Conference Europe on Sept. 5th in Ireland. CHANGES FOR INDEXES DURING 2008 FINANCIAL CRISIS One of the reasons for increased interest in tail hedging in recent years is the fact that, during [...]

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Correlation and Dispersion Trading Discussion at CBOE RMC Conference

One of the final sessions of the day teamed up Daniel Danon, Senior Vice President, Portfolio Management and Structuring at Assenagon Asset Management and Tim Edwards, Director of Index Investment Strategy at S&P Dow Jones Indices. Their presentation was titled Correlation and Dispersion: What They Mean and How to Trading Them. Tim Edwards began the [...]

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Management of Asian and Cliquet Option Exposure at CBOE RMC

The speakers for this session were Pin Chung Chief Financial Officer and Chief Investment Officer, R+V International Business Services Limited and Dr. Rachid Lassoued, Head of Financial Engineering from Bloomberg. The session title was Management of Asian and Cliquet Option Exposures for Insurance Companies. Dr. Chung began the session by reviewing Asian and Cliquet options. [...]

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CBOE RMC Europe Day Two Recap

Day 2 is a wrap in Ireland and the presentations covered a wide spectrum of information. The day began with CBOE CEO Ed Tilly making welcoming remarks as well as discussing new initiatives at CBOE that include expansion of SPX and VIX option trading hours as well as the introduction of futures trading on the [...]

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Interest-rate Volatility and VXTYN Futures – Presentations on Friday at RMC

In recent years we at CBOE have heard many inquiries on the subjects of managing interest rate risk and interest rate volatility. CBOE Holdings offers successful futures and options on the popular CBOE Volatility Index® (VIX®) that reflects expected stock market volatility; we have been asked if futures and options on an interest-rate volatility index [...]

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CBOE CEO Edward Tilly on Growing the Volatility Space

Day Two of CBOE RMC Europe kicked off with a welcome from CBOE CEO Edward Tilly. He said the agenda for RMC reminds him that “we are really at the beginning of the evolving VIX story” and highlighted several new CBOE initiatives designed to continue to grow the volatility space. Tilly noted that “though, by [...]

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Hedging the Market with Volatility

(Editors Note: We’d like to welcome Vance Harwood as a CBOE blog contributor. Vance is a consultant whose interests include macroeconomic forecasting, investor psychology, and volatility as an asset class. His investment activities include trading index ETFs, volatility related ETPs and their associated options. He blogs at sixfigureinvesting.com – mostly about volatility, but occasionally about [...]

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Blogging Options: CBOE Morning Update 9.2.14

Investors in the US return after the Labor Day holiday and stock futures are modestly higher.  Eyes focus on Ukraine and the jobs reports later this week.  Asian markets mixed to lower but European stocks slightly positive.  Oil and Gold each off 1%+. A report circulating by a large bank shows Manufacturing in over half [...]

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The Weekly Options News Roundup – 8/29/2014

Your weekly recap of CBOE features, options industry news and VIX and volatility-related articles from print, broadcast and online and social media outlets. Financial Leaders Unite Leaders in the financial industry from LaSalle Street to Wall Street have joined together answering the call of the Ice-Bucket Challenge, raising money for ALS Research. CBOE CEO Ed [...]

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Next Week in Weeklys – 9/1/2014

I’m not sure if there are any new names on the Weeklys list as I wrote this a week before you are reading it.  CBOE is holding the annual European version of our Risk Management Conference so my access to the data needed to produce this blog is a bit limited.  If you want to [...]

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Blogging Options: CBOE Morning Update 8.28.14

Traders are hearing Russian troops have entered Ukraine – or haven’t, depending on whether you are hearing Ukranian, NATO or Russian comments.  On the economic front Weekly Jobless Claims remained under 300k, unchanged from last week.  Q2 GDP first revision showed the economy grew 4.2% (original estimate +4.0%, higher than the 3.9% to 4.0% estimates), [...]

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Expiration Friday – At Last

Expiration Friday. Since the beginning of time (OK, the last 40 years we’ve had listed options), options expired on the Saturday following the 3rd Friday of the month.  Why Saturday? Let’s take a walk to the way-back machine with Mr Peabody.   I was a floor trader at the CBOE and I am trading front-month options [...]

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Buying and Selling Waves

This market does not make life easy, does it? What we would all prefer is some predictability about the action and a few reliable patterns that show us exactly where markets are going (more on that later). It seems impossible to establish a rhythm to our trading/investing. We are unable to find the flow as markets [...]

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Blogging Options: CBOE Morning Update 8.27.14

Markets overseas fairly quiet and down fractionally.  Ukraine situation causing flight to safety with US & German Treasuries.  Record highs but light-holiday volume.  10K VIX futures in early session, pretty average volume.  Jackie Robinson West parade in Chicago today, good weather & big crowds expected.  Volatility as an asset class Tiffany (TIF) is up $2.23 [...]

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Labor Day Holiday Trading Schedule

Labor Day is next Monday, this summer went fast.  The following is the trading schedule for Chicago Board Options Exchange® (CBOE®), C2 Options ExchangeSM (C2SM) and CBOE Futures ExchangeSM (CFE®) in observance of the upcoming Labor Day holiday: Friday:  Regular trading hours for everything. Monday:  CBOE & C2 Closed. CFE:   All products closed with the [...]

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CBOE Mid-Day Update 8.25.14

Volatility as an asset class VIX methodology for IBM (VXIBM) up $1.21 to 14.79; below its 50-day moving average of 18.04. cboe.com/VXIBM VIX methodology for Goldman Sachs (VXGS) up 50c to 18.15; below its 50-day moving average of 18.87. cboe.com/VXGS  VIX methodology for Apple (VXAPL) up 89c to 25.24; below its 50-day moving average of [...]

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The Weekly Options News Roundup – 8/22/2014

Your weekly recap of CBOE features, options industry news and VIX and volatility-related articles from print, broadcast and online and social media outlets. VIX: Broader Not Broken In this week’s Striking Price column in Barron’s, Steve Sears highlights a recent study by Goldman Sachs suggesting that “VIX is not really broken but that investors no [...]

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Blogging Options: CBOE Morning Update 8.21.14

European shares higher, as are most Asian stocks.  Oil and gold continue slide lower, grain prices increase overnight.  Weekly Jobless Claims fall below 300K to 298K, as expected. Jackson Hole comments will start trickling out today, Ms. Yellen talks tomorrow. Several economic numbers tomorrow at market opening.  Volatility as an asset class Hewlett-Packard (HPQ) is [...]