marty-kearney

Marty Kearney

Mr. Kearney began his long association with the Cboe when he became an independent Market Maker in early 1981. Mr. Kearney traded options full time on the trading floor until 1992 and periodically thereafter until 1996. In early 1992 he became a founding partner and Registered Options Principal of a brokerage firm based in Chicago, a member firm of the Cboe. Mr. Kearney’s responsibilities included development and implementation of hedging and trading strategies using listed options for their institutional clients as well as their retail investors. Mr. Kearney is the co-author of Understanding LEAPS®, published by McGraw-Hill, September 2002. He has been a regular contributor to many news services including Reuters, Derivatives Week, BARRON’S, CNBC, Bloomberg, Group W, The CBS Radio Network, FORTUNE, Ticker Magazine, Stock Futures and Options, BBC TV and Radio, NPR, and others. Mr. Kearney served on various committees at the Cboe, including the Arbitration Committee from 1984 to 1996. Prior to joining the Cboe Mr. Kearney was a marketing director for NCR Corporation. Mr. Kearney is a graduate of St. Mary’s University (MN), BS, 1971, and pursued his MBA at Lake Forest Graduate School of Management. In 2006 he completed a 3-year SII/SIA program at the Wharton School of the University of Pennsylvania.

  • Market News | May 28, 2015, 7:58 AM

    Blogging Options: CBOE Morning Update 5.28.15

    Blogging Options: CBOE Morning Update 5.28.15

    Greek official says agreement should be worked out by Sunday, EU says "not so fast".  Shanghai Composite off 6.5%, HSI lower by over 2%, giving up gains accrued over last two weeks.  Weekly Jobless Claims slightly higher than expected.  Housing data later this morning, GDP revisions tomorrow.  Two game sevens in NHL semi-finals.  Volatility as an asset class: Costco (COST) is down $1.77 to $143.55 in the premarket after reporting Q3 EPS $1.17, compared to consensus[...]

  • Trader Talk | May 22, 2015, 2:00 PM

    “Thanks to a Fine Canadian Doctor…”

    “Thanks to a Fine Canadian Doctor…”

    (Editors Note: The following are thoughts from a floor trader friend on Memorial Day, who wishes to remain anonymous.  We have edited in this year's dates and times. We ran this blog the last few years going into Memorial Day and received several nice comments.  We hope you enjoy it). “Memorial Day” was called “Decoration Day” many years ago. It originated after the Civil War to commemorate Union and Confederate soldiers who died in the Civil War. I guess they figured[...]

  • Market News | VIX | Education | May 21, 2015, 11:30 AM

    CBOE, C2 & CFE Memorial Day Holiday Trading Schedule

    CBOE, C2 & CFE Memorial Day Holiday Trading Schedule

    We have another long weekend coming up.  Next Monday, May 25th, is Memorial Day in the U.S. Tomorrow, Friday May 22st, CBOE, C2 and CFE  will have regular trading hours for all products. On Sunday evening May 24th, CFE opens its extended trading session at 5:00pm CDT for VIX (VX) Futures and VXT, and will close at 10:30am Monday May 25th. Monday May 25th, CBOE and C2 are closed for business, so there will be no Stock, ETF or Index option trading on that date.  Regular trading will[...]

  • VIX | Trader Talk | Futures | May 19, 2015, 9:15 AM

    May VIX Settlement Reminder 5.19.15

    May VIX Settlement Reminder 5.19.15

    Settlement Reminder: Today, Tuesday, May 19th is the last trading day for May in the following: VIX, RVX, VXN, GVZ, OVX, VXEEM, VXEWZ, and VXTYN futures* and options. These contracts settle tomorrow, Wednesday morning, May 20th. PLEASE NOTE:  VIX options with an expiration date of May 20th, 2015 will cease trading at 3:15 p.m. CDT today, Tuesday, May 19, 2015. These expiring options will NOT trade during the ETH session on Wednesday, May 20, 2015. * This is in contrast to VIX futures with[...]

  • Blogging Options | Trader Talk | May 18, 2015, 8:03 AM

    Blogging Options: CBOE Morning Update 5.18.15

    Blogging Options: CBOE Morning Update 5.18.15

    Option expiration with good volume Friday. European markets weary of Greece drama, but it looks like something might be finalized in next 10 days.  US stock futures off fractionally.  Housing data today, tomorrow and Thursday will be watched.  10-year 2.18%.  Stories around about European banks being analyzed by credit agencies.   Long weekend coming up, details on trading schedule tomorrow.  Volatility as an asset class: ANN (ANN) is up $8.20 to $46.92 in the premarket[...]

  • VIX | Education | Futures | Apr 14, 2015, 1:44 PM

    VIX April Settlement Reminder 4.15.15

    VIX April Settlement Reminder 4.15.15

    Settlement Reminder: Today, Tuesday, April 14th is the last trading day for April in the following: VIX, RVX, VXN, GVZ, OVX, VXEEM, VXEWZ, and VXTYN futures* and options. These contracts settle tomorrow, Wednesday morning, April 15th. PLEASE NOTE:  VIX options with an expiration date of April 15th, 2015 will cease trading at 3:15 p.m. CDT today, Tuesday, April 14, 2015. These expiring options will NOT trade during the ETH session on Wednesday, April 15, 2015. * This is in contrast to VIX futures[...]

  • Market News | Trader Talk | Education | Futures | Mar 26, 2015, 1:30 PM

    CBOE, C2 & CFE Good Friday Holiday Trading Schedule

    CBOE, C2 & CFE Good Friday Holiday Trading Schedule

    We have another long weekend coming up.  A week from tomorrow, Friday April 3rd is Good Friday. Thursday, April 2nd will have regular trading hours for all products at CBOE, C2 and CFE. Friday April 3rd, CBOE and C2 are closed for business, so there will be no Stock, ETF or Index option trading on that date.  Regular trading will resume Monday morning. On Thursday evening April 2nd, CFE opens its extended trading session at 3:30pm CDT for VIX (VX) Futures and will close at 8:15am Friday,[...]

  • VIX | Trader Talk | Education | Futures | Mar 17, 2015, 1:00 PM

    VIX March Settlement Reminder: Wednesday 3.18.15

    VIX March Settlement Reminder: Wednesday 3.18.15

    Settlement Reminder: Today, Tuesday, March 17th is the last trading day for March in the following: VIX, RVX, VXN, GVZ, OVX, VXEEM, VXEWZ, and VXTYN futures* and options. These contracts settle tomorrow, Wednesday morning, March 18th. PLEASE NOTE:  VIX options with an expiration date of March 18, 2015 will cease trading at 3:15 p.m. CT on Tuesday, March 17, 2015. These expiring options will NOT trade during the ETH session on Wednesday, March 18, 2015. * This is in contrast to VIX futures[...]

  • Market News | Mar 5, 2015, 2:30 PM

    Steroids, Credit Growth and the Derivatives Blow Up Hall of Fame

    Steroids, Credit Growth and the Derivatives Blow Up Hall of Fame

    Dean Curnutt, CEO of Macro Risk Advisors, MRA, gave the second talk today at the 31st annual CBOE Risk Management Conference.  MRA does strategy based research and Dean has been a guest speaker at previous RMC's in the past.  Dean's background included a degree at the University of Chicago,  working at Lehman in structured equity derivative products and as a Managing Director and head of equity salestrading at BofA. You will never see a bad back-test, ever! Dean began his talk by telling[...]

  • Market News | Trader Talk | Education | Mar 4, 2015, 12:30 PM

    Author Zachary Karabell's Keynote Address at RMC

    Author Zachary Karabell's Keynote Address at RMC

    Zachary Karabell delivered the keynote address this morning at the 31st Annual CBOE Risk Management Conference in Carlsbad, CA. Karabell holds the position as President of River Twice Research but is also a prolific writer acting as a contributing columnist to Reuters, The Atlantic, Slate, The Washington Post, Time, and The Wall Street Journal. In the past Karabell has written on a wide variety of topics ranging from religion, history, and politics. His most recently book, The Leading Indicators:[...]

  • Market News | VIX | Trader Talk | Education | Feb 27, 2015, 2:00 PM

    Extended Trading Hours in VIX Options Begin Monday 3.2

    Extended Trading Hours in VIX Options Begin Monday 3.2

    The question we have heard over the last several years was "CBOE VIX Futures have extended trading, when will VIX Options have Extended Trading Hours"? On Monday, March 2nd,  Extended Trading Hours (ETH) for VIX options will launch.  Trading hours will be from 2:00 a.m. to 8:15 a.m. Central Time (“CT”).  Regular VIX trading will resume at 8:30 a.m. and continue until 3:15 p.m. CT. Since June 2014, the trading hours for futures on the CBOE Volatility Index®[...]

  • VIX | Education | Futures | Feb 19, 2015, 2:00 PM

    CBOE Risk Management Conference is Two Weeks Away

    CBOE Risk Management Conference is Two Weeks Away

    I received two inquiries this morning about CBOE's 31st Annual Risk Management Conference (RMC), March 4 - 6, 2015 in Carlsbad, California.  It is being held at the Park Hyatt Aviara, along the Pacific Ocean, 25 miles North of San Diego California. The agenda, topics, speakers and registration forms are available at http://www.cboermc/agenda.  There is still some space available at CBOE RMC. This is considered the premiere financial industry conference designed for institutional users of[...]

  • VIX | Trader Talk | Education | Futures | Feb 17, 2015, 1:45 PM

    VIX February Settlement Reminder: Wednesday 2.18.15

    VIX February Settlement Reminder: Wednesday 2.18.15

    Settlement Reminder: Today, Tuesday, February 17th is the last trading day for February in the following: VIX, RVX, VXN, GVZ, OVX, VXEEM, VXEWZ, and VXTYN futures and options. These contracts settle tomorrow, Wednesday morning, February 21st. We will post the settlement values when they are released tomorrow morning.

  • Blogging Options | Trader Talk | Feb 13, 2015, 7:41 AM

    Blogging Options: CBOE Morning Update 2.13.15

    Blogging Options: CBOE Morning Update 2.13.15

    Earnings continue to roll in, several misses and downgrades (GPS, Abercrombie).  Overseas markets higher except Japan.  Greece with softer tone as their financial situation deteriorates.  Expect this mornings action to be early, as Presidents Day long weekend upon us.  Volatility as an asset class: AIG (AIG) is down $0.87 to $51.58 in the premarket after posting a less than expected Q4 profit. February weekly option implied volatility is at 58, February is at 28, March is at 24,[...]

  • Market News | Education | Feb 10, 2015, 2:00 PM

    President's Day Trading Schedule Next Monday, 2/16

    President's Day Trading Schedule Next Monday, 2/16

    We have a long weekend coming up.  Monday is President's Day.  President's Day is the third Monday of February. This Friday, February 13th will have regular trading hours for all products at CBOE, C2 and CFE. On Monday February 16th, CBOE and C2 are closed for business, so there will be no Stock, ETF or Index option trading on that date.  Regular trading will resume Tuesday morning. On Sunday evening Feb. 15th,  CFE opens its extended trading session at 5:00pm CST for VIX (VX)[...]