CBOERMC Archives - Cboe Blogs

  • VIX | Trader Talk | Education | Futures | Mar 1, 2016, 4:19 PM

    Volatility of Volatility and Other Facets of VIX Options Discussed at CBOE RMC

    Volatility of Volatility and Other Facets of VIX Options Discussed at CBOE RMC

    One of the final discussions today at CBOE RMC focused on the Volatility of Volatility and Other Facets of VIX Options.  The three presenters were Joe Aiken, Portfolio Manager, Malachite Capital Management, Art Lu, Director, Equity Quant Trading Strategy, Citigroup, and a RMC favorite Dominic Salvino, VIX Specialist, Group One, LLC. Highlights for each speaker’s presentation appear below – Dominic Salvino He noted that VIX Weeklys seem to be catching on quite well with the futures[...]

  • Market News | VIX | Trader Talk | Education | Futures | Trade Ideas | Mar 1, 2016, 4:07 PM

    Risk Hedging Frameworks: Governance Concerns and Equity Derivative Strategies Discussion at RMC

    Risk Hedging Frameworks:  Governance Concerns and Equity Derivative Strategies Discussion at RMC

    // One of the final presentations during Day 2 of CBOE’s Risk Management Conference teamed up Ari Paul, CFA, Portfolio Manager at The University of Chicago Office of Investments and Rebecca Cheong, Head of Americas Equity Derivatives Strategy, UBS Securities.  They separately discussed aspects related to Risk Hedging Frameworks: Governance Concerns and Equity Derivative Strategies. Paul began listing sources of[...]

  • Market News | VIX | Trader Talk | Education | Trade Ideas | Mar 1, 2016, 2:59 PM

    Equities & Rates: Hybrid Options, Correlation and Risk Management Discussion at CBOE RMC

    Equities & Rates:  Hybrid Options, Correlation and Risk Management Discussion at CBOE RMC

    Rocky Fishman, CFA, Equity Derivatives Strategies from Deutsche Bank Securities and Philip Jones, SVP Quantitative Strategies Capital Markets Solutions, Ameriprise Financial teamed up for a session titled Equities and Rates: Hybrid Options Correlation, and Risk Management. Fishman started out noting that the correlation between interest rates and stocks changed about 15 years ago.  From the early 1960’s through 2000 there was a negative relationship, more recently it has been positive. [...]

  • Market News | Mar 1, 2016, 2:29 PM

    RMC Session - What Everyone Needs to Know About Listed Options Taxation

    RMC Session - What Everyone Needs to Know About Listed Options Taxation

    Three speakers teamed up at RMC to discuss What Everyone Needs to Know About Listed Options Taxation today in Bonita Springs, FL.  Robert N. Gordon, President, Twenty-First Securities Corporation, Michael Leon, Senior Vice President, Northern Trust Wealth Management, Investment Advisory Solutions Group, and William Paul, Tax Partner all gave their perspectives on tax issues associated with listed option markets. Highlights for each speaker’s presentation appear below – Robert N.[...]

  • Market News | VIX | Education | Strategy | Mar 1, 2016, 1:09 PM

    CBOE RMC - Differentiating and Benchmarking Volatility-Based Investment Strategies

    CBOE RMC - Differentiating and Benchmarking Volatility-Based Investment Strategies

    The first session after lunch at today’s Risk Management conference was a combination presentation and panel discussion.  The first part of the session featured Chris DeMeo from Nu Paradigm Investment Partners, LLC who discussed the CBOE EurekaHedge Volatility Indexes which were introduced in August of 2015.  These indexes addressed the lack of an appropriate benchmarks for analyzing volatility based strategies. The indexes are divided into four categories – Long Volatility Short[...]

  • Market News | Mar 1, 2016, 10:53 AM

    Panel Discussion on Options and Volatility Product Usage by Institutional Asset Owners at RMC

    Panel Discussion on Options and Volatility Product Usage by Institutional Asset Owners at RMC

    // The first panel discussion at CBOE RMC brought together a variety of asset managers for a discussion around using options and volatility derivatives.  The panel was moderated by Neil Rue, CFA, Managing Director, Pension Consulting Alliance, LLC Participants in the discussion were – John Burkartzmeyer, Senior Trader at the State of Wisconsin Investment Board Paul R. T. Johnson, Board Member, State University Retirement[...]

  • Market News | Mar 1, 2016, 9:12 AM

    CBOE RMC Keynote - Investing for the Long Run: An Opportunity Worth Seizing

    CBOE RMC Keynote - Investing for the Long Run:  An Opportunity Worth Seizing

    // The keynote address at today’s CBOE Risk Management Conference featured Leo de Bever, Ph.D. who recently retired as CEO of Alberta Investment Management Corporation which is one of Canada’s largest institutional investment managers.  His speech was a discussion titled Investing for the Long Run:  An Opportunity Worth Seizing. The address began with noting that institutional investors needing to focus[...]

  • Market News | VIX | Trader Talk | Education | Mar 1, 2016, 8:13 AM

    CBOE Holdings President and COO Edward Provost on Exchange’s New Initiatives

    CBOE Holdings President and COO Edward Provost on Exchange’s New Initiatives

    CBOE Holdings President and COO Edward Provost kicked off Day Two of CBOE RMC U.S. with an update on recent CBOE developments, highlighting numerous CBOE initiatives designed to create new trading opportunities for investors. Provost began by announcing CBOE’s plans to launch FLEX index options with Asian and Cliquet style settlement, citing their relevance to RMC participants working in the insurance field. “Asian and Cliquet FLEX index options are designed to give insurers an alternative[...]

  • Education | Feb 29, 2016, 7:34 PM

    CBOE RMC Day 1 Recap

    CBOE RMC Day 1 Recap

    I work for CBOE and I am a company man.  However, no bias plays into me stating that today’s first three sessions of CBOE’s Risk Management Conference combined to make today the best first day of RMC I have ever experienced.  Each session combined education with practical knowledge and each session involved two speaker that complemented each other’s strengths. The first session involved pairing up Mark Shore who is Chief Research Officer from Shore Capital Research as[...]

  • Market News | VIX | Education | Strategy | Feb 29, 2016, 3:38 PM

    Intersections Between Macroeconomic Conditions and Volatility Levels

    Intersections Between Macroeconomic Conditions and Volatility Levels

    The final session on the first day of Risk Management was titled Intersections Between Macroeconomic Conditions and Volatility Levels.  Benn Eifert, Ph.D., Former Portfolio Manager from Mariner Coria and Stacey Gilbert, Head of Derivatives Strategy at Susquehanna teamed up for a very informative and educational session. Eifert started things off discussing the relationship between the economy and equity market volatility which is an area that the markets are very focused on for 2016.  His[...]

  • Market News | Trader Talk | Education | Strategy | Trade Ideas | Feb 29, 2016, 2:18 PM

    The Unknowns about Bond Investing that Equity Options Traders Know

    The Unknowns about Bond Investing that Equity Options Traders Know

    John Marshall, Managing Director, Derivatives and Tactical Research at Goldman Sachs and Zem Sternberg of Lake Hill delivered a joint presentation at CBOE’s Risk Management Conference today in Bonita Springs, FL.  Their very timely talk, considering the uncertainty surrounding the current interest rate environment, was titled The Unknowns about Bond Investing that Equity Options Traders Know. Zem kicked off the presentation saying there are three questions (with answers) that must be addressed[...]

  • Education | Futures | Strategy | Trade Ideas | Feb 29, 2016, 12:39 PM

    Constructing/Deconstructing Volatility Risk Premia Strategies

    Constructing/Deconstructing Volatility Risk Premia Strategies

    LimelightPlayerUtil.initEmbed('limelight_player_969842'); I have to include a personal note - this is the best first presentation I have ever witnessed at a CBOE Risk Management Conference. The first session of the 32nd Annual CBOE Risk Management Conference paired up Mark Shore who is Chief Research Officer from Shore Capital Research as well as an Adjunct Instructor at DePaul University with Roni Israelov, Portfolio Manager from AQR Capital Management.  Their session was titled Constructing[...]

  • VIX | Trader Talk | Education | Futures | Trade Ideas | Feb 21, 2016, 12:44 PM

    CBOE RMC - Five Things I'm Looking Forward to Next Week

    CBOE RMC - Five Things I'm Looking Forward to Next Week

    One the best parts of my job as Director of Education at The Options Institute is getting to attend each of the Risk Management Conferences offered by CBOE.  Back in the Fall the running theme at both the European and Asian versions of RMC seemed to be how the markets were shifting from a low to high volatility regime.  Early 2016 price action has confirmed this. There are five things that have me particularly excited about heading to Bonita Springs, FL next week for the 32nd Annual RMC[...]

  • Market News | Jan 19, 2016, 8:00 AM

    CBOE Risk Management Conference Schedule Now Available

    CBOE Risk Management Conference Schedule Now Available

    It was 2 degrees as I walked to the train this morning in suburban Chicago.  I noticed that at the same time it was pushing 50 in Bonita Springs, FL where in just a few weeks the US version of CBOE’s Risk Management Conference will be held from February 29th to March 2nd. I know I’m a geek about this stuff, but I’m more excited about the speakers than the weather.  The schedule is nearly final with a couple of speaking slots left to be filled, but it was posted recently[...]

  • Market News | VIX | Education | Jan 6, 2016, 10:29 AM

    CBOE RMC Early Bird Pricing Ends Friday

    CBOE RMC Early Bird Pricing Ends Friday

    On what is supposed to be the coldest day of this winter in Chicago I’m booking a flight to South Florida for late next month.  Bonita Springs is the home for the 2016 CBOE Risk Management Conference where I know the weather will be more agreeable than what I experienced on my walk from the train this morning in Chicago. CBOE now hosts three versions of the Risk Management Conference annually, each with a geographic focus (US, Europe and Asia).   The one in the United States[...]