Moran-Matt

Matt Moran

Matt Moran is vice president of business development for Chicago Board Options Exchange (CBOE), where he communicates with pension funds, mutual funds, and financial advisors. He has delivered more than 200 presentations worldwide on the topics of managing volatility and adding income with option-writing strategies. Previously, he served trust counsel at Harris Bank and vice president at Chicago Mercantile Exchange. He is an associate editor of two Institutional Investor publications — The Journal of Trading and The Journal of Index Investing. Mr. Moran holds JD and MBA degrees from the University of Illinois.

  • Market News | Jun 26, 2015, 11:13 AM

    Follow the RVX and RUT Options, as MarketWatch Notes That Today Could Be “Year’s Biggest Trading Day”

    Follow the RVX and RUT Options, as MarketWatch Notes That Today Could Be “Year’s Biggest Trading Day”

      A June 26 news story in MarketWatch noted that – “Stock-trading volume is expected to surge in Friday’s last moments of trading, as the Russell indexes go through their annual routine of adding and removing stocks.  A massive amount of money is linked to the small-cap Russell 2000 RUT … the large-cap Russell 1000 RUI, … and their siblings. The index funds that track these benchmarks must buy or sell stocks as result of this summertime shakeup that’s[...]

  • Market News | Jun 22, 2015, 5:06 PM

    All-time Record Daily Closing Highs Today for BXY, BXM, PUT, BXR, BXN and LOVOL Indexes

    All-time Record Daily Closing Highs Today for BXY, BXM, PUT, BXR, BXN and LOVOL Indexes

    Six CBOE strategy benchmark indexes all hit all-time record daily closing highs today (June 22) – 1559.33 BXY - CBOE S&P 500 2% OTM BuyWrite 1527.39 PUT - CBOE S&P 500 PutWrite Index 1140.06 BXM - CBOE S&P 500 BuyWrite Index 459.22                   BXN - CBOE Nasdaq BuyWrite Index 218.42                  [...]

  • Market News | Jun 19, 2015, 12:45 PM

    BXR & RUT Indexes Hit All-Time Highs, As Interest in Small-Caps Heats Up

    BXR & RUT Indexes Hit All-Time Highs, As Interest in Small-Caps Heats Up

      Yesterday (June 18) was a key day for small-cap instruments, as shown by these facts – The Russell 2000 Index (RUT) (the key gauge of for U.S. small-cap stocks) hit an all-time daily closing high of 1284.68; The CBOE Russell 2000 BuyWrite Index (BXR) (the key gauge for use of an RUT index options buywrite strategy) hit an all-time daily closing high of on 217.68; Daily volume for options on the Russell 2000 (RUT) rose to 131,638 contracts, the highest level in recent weeks. RUT CHART THREE[...]

  • Market News | Jun 16, 2015, 2:27 PM

    Record Volume Today in ETH Session for VIX Options

    Record Volume Today in ETH Session for VIX Options

    Yesterday (June 15) the CBOE Volatility Index® (VIX®) rose to its monthly closing high of 15.39, and earlier today in the June 16 Extended Trading Hours (ETH) sessions, the estimated trading volumes during ETH were 30,920 for VIX futures (the high for the month), and 6,984 for VIX options (the all-time record high).   CBOE Holdings is now offering Extended Trading Hours (ETH) on key popular index futures and options contracts in order to provide investors with the ability to take[...]

  • Education | Jun 9, 2015, 11:47 AM

    Will Stocks from Mainland China Be Added to the MSCI Emerging Markets Index?

    Will Stocks from Mainland China Be Added to the MSCI Emerging Markets Index?

    A key topic for global investors today is whether Chinese A-Shares will be included in the popular MSCI Emerging Markets Index. Estimates suggest that about $1.7 trillion in assets track the popular index. CBOE offers a number of volatility and options products to help investors gauge and manage their global equity exposure. Last month MSCI Inc. issued a press release with an announcement that it - “…  will release on June 9, 2015, shortly after 11:00 p.m. Central European Summer[...]

  • Market News | Jun 4, 2015, 2:36 PM

    CBOE Russell 2000 BuyWrite Index (BXR) Hits All-time High

    CBOE Russell 2000 BuyWrite Index (BXR) Hits All-time High

    On Wednesday, June 3, the CBOE Russell 2000 BuyWrite Index (BXR) hit an all-time daily closing high of 215.96. The BXR is a benchmark index that measures the performance of a theoretical portfolio that sells Russell 2000 Index (RUT) call options, against a portfolio of the stocks included in the Russell 2000 Index. A "buy-write," also called a covered call, generally is considered to be an investment strategy in which an investor buys a stock or a basket of stocks, and also sells call options[...]

  • Market News | Technical Analysis & Charts | May 15, 2015, 1:50 PM

    PUT Index Hits All-time Daily Closing High, with Less Volatility Than “Traditional” Indexes

    PUT Index Hits All-time Daily Closing High, with Less Volatility Than “Traditional” Indexes

    On Thursday, May 14, the CBOE S&P 500 PutWrite Index (PUTSM) closed at 1503.46, its highest all-time daily close.  PUT is an award-winning benchmark index that measures the performance of a hypothetical portfolio that sells S&P 500® Index (SPX) put options against collateralized cash reserves held in a money market account.  The daily historical data for the PUT Index extends back to June 30, 1986. Since mid-1986 the PUT Index has had higher returns and lower volatility than[...]

  • Education | May 6, 2015, 5:28 PM

    TYVIX Index, Measure of Interest-Rate Volatility, Rises for the 8th Day in a Row

    TYVIX Index, Measure of Interest-Rate Volatility, Rises for the 8th Day in a Row

    The CBOE/CBOT 10-year U.S. Treasury Note Volatility Index℠ (with a new ticker symbol: TYVIX℠ rose today (Wednesday) for the 8th trading day in a row. TYVIX measures the expected volatility of the price of 10-year Treasury Note futures. TYVIX futures also are available for investors. As shown in the charts below, since April 24, the daily closing values of the TYVIX Index rose from 4.89 to 6.53 (a 34% rise) and the interest rates on the 10-year U.S. Treasury notes rose from 1.91% to 2.23%[...]

  • Market News | Education | May 5, 2015, 3:43 PM

    A Dozen Positive Developments in 2015 for Investors in Options

    A Dozen Positive Developments in 2015 for Investors in Options

    Over the past decade I have delivered more than 200 presentations around the world to groups of investors such as pension funds and/or investment advisors. During the presentation events I solicit feedback from investors on the topics which are of interest. Below is a list of 12 positive developments in 2015 for investors in options. CAPACITY AND LARGE NOTIONAL SIZE FOR SPX OPTIONS VOLUME Liquidity and capacity often are key concerns of institutional investors who are considering investing sizable[...]

  • Technical Analysis & Charts | Education | Futures | Apr 21, 2015, 10:40 AM

    $3.7 Trillion in A.U.M. Tracks EAFE and E.M. Indexes, as First-ever Index Options Launch

    $3.7 Trillion in A.U.M. Tracks EAFE and E.M. Indexes, as First-ever Index Options Launch

    On Tuesday April 21 CBOE launched its first-ever trading in cash-settled options on two MSCI indexes – the MSCI Emerging Markets Index (MXEF) and the MSCI EAFE Index (MXEA). Options on the MSCI Emerging Markets Index and the MSCI EAFE Index are designed to enable investors to efficiently hedge and manage their non-U.S. equity portfolio exposures, to diversify their portfolios, or to generate added income. $TRILLIONS IN ASSETS UNDER MANAGEMENT In mid-2014 the combined assets under management[...]

  • Technical Analysis & Charts | Education | Mar 20, 2015, 10:41 AM

    CBOE Bracketology Round 1 – VXST Index Rose 122.6% in One Week

    CBOE Bracketology Round 1 – VXST Index Rose 122.6% in One Week

    One of the most intriguing features of volatility indexes is that they can have sharp upside moves in times when “traditional” indexes fall in value. For example, during the week of Dec. 12, 2014, the S&P 500® (SPX) and MSCI EAFE® indexes both dropped 3.5%, while the CBOE Short-Term Volatility Index (VXST) rose 122.6% and the CBOE Volatility Index® (VIX®) rose 78.3%. Both of the brackets below show the biggest one-calendar-week upside moves (in % terms) for 8 tradable[...]

  • Technical Analysis & Charts | Mar 17, 2015, 11:58 AM

    OVX Index Rises to 56.93, as Crude Oil Falls to 6-Year Lows

    OVX Index Rises to 56.93, as Crude Oil Falls to 6-Year Lows

    On Monday the CBOE Crude oil ETF Volatility Index (OVX) rose 2.37 to close at 56.93, and  a New York Times article noted that – “Oil prices fell to six-year lows on Monday in the face of concerns that a glut in the United States was outpacing already-brimming storage facilities. … On Monday, the price of West Texas Intermediate crude, the main United States benchmark, fell about 2 percent to about $44 a barrel, a six-year low, while Brent crude, the international benchmark,[...]

  • Market News | Mar 11, 2015, 11:00 AM

    Fund Managers Request CBOE Options on MSCI Indexes, Which Will Launch April 21

    Fund Managers Request CBOE Options on MSCI Indexes, Which Will Launch April 21

    Regarding the possibility of launching new options on MSCI global indexes, in the past month I have received positive feedback from more than a dozen managers of options-based funds that are listed in a new 2015 white paper. In the past decade a number of managers have requested new CBOE options on MSCI’s global indexes. CBOE announced an April 21 launch date for cash-settled products on two of the world’s best known global indexes – Options on the MSCI EAFE® Index (MXEA),[...]

  • Technical Analysis & Charts | Education | Mar 9, 2015, 3:00 PM

    RMC Speakers - Volatility of Volatility Rose in Recent Months

    RMC Speakers - Volatility of Volatility Rose in Recent Months

    In the first two months of 2015, the CBOE VIX of VIX Index (VVIX) had an average daily close of 100.2, a higher level than in any of its previous eight full calendar years from 2007 through 2014. On Thursday at the 31st CBOE Annual Risk Management Conference in Carlsbad, expert presentations on Volatility of Volatility (VOV) were delivered by Benn Eifert, Ph.D., Portfolio Manager, Mariner Investment Group and Kambiz Kazemi, Portfolio Manager, Picton Mahoney Asset Management. INTRODUCTION TO INDEXES Before[...]

  • Technical Analysis & Charts | Education | Mar 9, 2015, 11:58 AM

    Selling Volatility Safely:  VIX, VXX, and Other Short Volatility Option Strategies

    Selling Volatility Safely:  VIX, VXX, and Other Short Volatility Option Strategies

    Investors who sell VIX-based products often keep a close eye on contango, and the VIX was in contango on 248 days in 2012 and 219 days in 2014. On Friday at the 31st Annual Risk Management Conference presentations on - Selling Volatility Safely:  VIX, VXX, and Other Short Volatility Option Strategies – were delivered by David Burchmore, Portfolio Manager, Ontario Teachers' Pension Plan, and Rocky Fishman, CFA, Equity Derivatives Strategy, Deutsche Bank Securities. INTRO – VIX IN[...]