Cboe Blogs

Cboe RMC Insights: 2019 U.S. Interviews Did you miss this year’s Cboe Risk Management Conference in Carlsbad, California? Watch our video series to hear insights from our panelists of top traders, strategists, and researchers on the latest volatility trading models, hedging techniques, and equity derivatives use cases. VOLATILITY NEWS Bloomberg: The Liquidity ‘Illusion’ Has These Funds Making Plans for a Stock Doomsday Bloomberg: JPMorgan Sees `Violent' Markets on[...]

Did you miss this year’s Cboe Risk Management Conference in Carlsbad, California? Never fear, several of our panelists have provided their insights on what’s happening in the markets in the video series below. Go ahead, challenge yourself to think differently about portfolio management with the latest hedging techniques, equity derivatives use cases and volatility trading models.  To stay in the know, RMC you must go! The next Cboe RMC is September 9 through 11 in Munich, Germany.[...]

Hedge Funds Building Short VIX Positions While Retail Goes Long Sources: www.cftc.gov and Bloomberg Net leveraged money in Cboe Volatility Index (VIX) futures—assets predominantly managed by hedge funds—began rebuilding short positions as equity markets recovered from late December losses. In contrast, leveraged long VIX exchange-traded products—assets predominantly owned by retail investors—started to trend higher in 2019. VOLATILITY NEWS The Wall Street Journal:[...]

Did you read our summary of Day One? Don’t miss it! Day Two of the 35th annual Cboe Risk Management Conference was jam-packed with new information, engaging panels, networking opportunities and lots of finger food! Cboe Chairman, President and CEO Ed Tilly kicked off the day with an update on Cboe’s business and advocacy efforts. He also thanked Cboe VP of Research Bill Speth for his 24 years of “wisdom, guidance and friendship.” Bill retires this month after a legendary[...]

The 35th annual Cboe RMC kicked off in Carlsbad, California, yesterday with one keynote and two panels. After attendees checked in, they were encouraged to pick up some Cboe swag, including phone accessories, baseball caps and Cboe RMC vests (yes, we know they run big). Our team also provided copies of new white papers at the Cboe booth. After a morning in the sunshine, conference attendees shuffled into the Grand Ballroom at the Park Hyatt Aviara for David Blitzer’s keynote speech, “Less[...]

We’re celebrating Women’s History Month throughout March. Check back regularly as we add new profiles, quotes and more, or follow along on your favorite social media channel with #CboeWomen. Her Story: In Focus Click the box to read about some of the women (and men!) that make Cboe great.  Bea Ringold                                      Roma Colwell-Steinke [...]

Jill’s global career has helped her through difficult decisions and formed her into the leader she is today. Born and raised in Iowa, after graduating undergrad, Jill moved to Kansas City to begin her career working for an accounting firm. Ten years later, in search of a change-of-pace, she found herself at Bats, prior to Cboe’s acquisition.   “I initially joined the firm to lead the financial reporting effort, as the company was preparing for its initial public offering,”[...]

As SVP, Global Head of Listings, Laura oversees the global listings business and ETF.com, developing strategy, working with issuers to list their products and overseeing market quality incentive programs. Prior to joining Cboe, Laura spent 20 years in leadership roles at the NYSE. What was it like to work on the NYSE floor? Walking onto the floor each morning was a tremendous honor and a defining moment in my career. Surviving on the trading floor was invigorating, challenging and inspiring. It[...]

Though she’s spent her entire working life at Cboe, Eileen has never shied away from new experiences, pursuing leadership roles in technology, a space historically occupied by men.  Eileen began her Cboe career in 1985 as an intern heading into her final year of college. Among other assignments, she was tasked with printing and organizing instructional materials for some of the very first Options Institute classes.   “It was a completely hands-on experience,” she says.[...]

For Arianne Criqui, being passionate about work has plenty of benefits outside of the office, too Arianne Criqui, SVP, Head of Options and Global Client Services at Cboe, wanted a career that would harness the competitive spirit she developed on the swim team at Penn State. “I needed to do something with all that energy,” she says, and that led her to finance. After college, Arianne started her career in investment banking at Merrill Lynch but soon realized it wasn’t for her. After[...]

Lisa encourages women to write their own rules and resist asking for permission Lisa Shemie never envisioned a career in law. “I was not one of those people who dreamed of being a lawyer,” she says. Instead, while trying to figure out her next step after college, her dad reminded her of how great she was at arguing with him and suggested considering law as a profession. Without a tremendous amount of forethought, she decided to apply to law school, and the rest is history.  Today,[...]

As an educator in Cboe’s Options Institute, Roma is passionate about helping young professionals find their place in the finance industry Roma Colwell-Steinke spent the earlier part of her career as a market maker for Group One on the Pacific Stock Exchange in San Francisco before an earthquake rendered it temporarily unusable in 1989. She and other PSE market makers then came to Chicago to trade on the Cboe floor until the PSE floor reopened.  “I looked down at the floor and there[...]

Flattening of VIX Futures Term Structure The Cboe Volatility Index® (“VIX”) futures term structure flattened at the end of February due to some sizeable spread trades. These trades appear to be positioned to benefit from a shift in the term structure curve from contango (upward sloping) to backwardation (downward sloping), which tends to happen when there is a volatility spike. VOLATILITY NEWS Schaeffer's Investment Research: Rare VIX Signal Points to Spring Volatility Spike [...]

From the trading floor to corporate, Bea’s seen it all in her 38 years at Cboe Bea Ringold got her start at Cboe as a price reporter in 1981, much to the surprise of friends and family. “People would see traders and trading floors on the news and say, ‘You work there?! You actually do that?!’ It was a big thing back in the day. The floor was so crowded we hardly had elbow room,” Bea says. Packed in with the floor’s many characters, Bea soon rose through the ranks,[...]

Over the next week, Cboe will roll out options on 11 Select Sector indices. Cboe’s Select Sector Index options are designed to provide investors with an easy way to add specific U.S. industry sector exposure to their portfolios and are expected to have particular utility for investors seeking an alternative to options on ETFs.  The Select Sectors use the GICS® (Global Industry Classification Standard) to categorize each company within the S&P 500 Index into one of 11 sectors.[...]