EXIV Archives - Cboe Blogs

  • 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[...]

  • 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[...]

  • Market News | Trader Talk | Strategy | Trade Ideas | Feb 28, 2016, 8:35 PM

    Earnings Next Week - 2/29 - 3/4

    Earnings Next Week - 2/29 - 3/4

    The numbers below represent three years of history with a couple of exceptions which have not been around long enough to provide a full three years of history.  In those cases the data appears in italics.   After the ticker the columns show the biggest gain, biggest drop, average move (non-directional) and stock price reaction last quarter.

  • Market News | Education | Strategy | Trade Ideas | Feb 28, 2016, 2:11 PM

    Bear Market Survival Tactics

    Bear Market Survival Tactics

    There should be no dispute by now that we are in the throes of a vicious bear market.  Oh, sure we can argue stocks are well above where they were back in the financial crisis, and many stocks have not even lost half of those gains.  Yet, current market conditions are such that the prices can go sideways or down for a long period of time.  If that happens, what will/should you do? At times it is okay to sit it out.  I do this frequently, especially after a rough spell. [...]

  • Market News | VIX | Trader Talk | Futures | Trade Ideas | Feb 27, 2016, 12:36 PM

    Weekend Review - VIX Options and Futures - 2/22 - 2/26

    Weekend Review - VIX Options and Futures - 2/22 - 2/26

    For the past few years I’ve struggled with things to write when there has been a parallel shift in the curve.  This week we got the first normal curve change of 2016 so there’s that to say.  Kevin Davitt, who is relatively new to The Options Institute keeps noting that the far end of the curve is as flat as he’s ever seen it.  I have to agree and when he inquire how I read things like that I noted that when the curve is flat it indicates a ton of uncertainty and these[...]

  • Market News | VIX | Trader Talk | Education | Futures | Strategy | Feb 27, 2016, 7:00 AM

    Weekend Review - Volatility Indexes and ETPs - 2/22 - 2/26

    Weekend Review - Volatility Indexes and ETPs - 2/22 - 2/26

    This was probably the calmest week we had in the markets in 2016, which is good for the long term investors, but makes my job sort of tough.  VIX put in a 2016 closing low but do note that VXST rose last week.  This past week didn’t really have a lot of the known unknowns such as major economic numbers so short term volatility was pretty tame.  Next week we get an employment number on Friday and I am attributing the rise in VXST to that event. The long funds continued to give[...]

  • Weekend Review - Russell 2000 Options and Volatility - 2/22 - 2/26

    Weekend Review - Russell 2000 Options and Volatility - 2/22 - 2/26

    Small caps played some catch up again last week with the Russell 2000 (RUT) gaining about 2.7% while the large cap oriented Russell 1000 (RUI) was up 1.75%.  There is still more work for RUT to do as it is underperforming RUI by about 3.6% in 2016. VIX made a new 2016 low last week while the CBOE Russell 2000 Volatility Index (RVX) did not.  This is surprising since small cap stocks outperformed large cap stocks last week, but I’m learning that how RVX and VIX interrelate[...]

  • Market News | VIX | Trader Talk | Education | Futures | Feb 26, 2016, 4:20 PM

    February 26, 2016 Weekly Report on CBOE VIX Index Suite

    February 26, 2016 Weekly Report on CBOE VIX Index Suite

    Foreign Exchange Volatility Remains a Hot Spot The chance of divergence between monetary policies and the impact of oil prices and China factors on international trade continues to sustain volatility in foreign exchange VIX indexes: CBOE/CME FX Euro Volatility IndexSM (Ticker: EUVIX); CBOE/CME FX Yen Volatility IndexSM (Ticker: JYVIX)  and CBOE/CME FX British Pound Volatility IndexSM (Ticker: BPVIX). In contrast, this week the CBOE VIX Index stabilized as stock markets rallied[...]

  • Market News | Technical Analysis & Charts | VIX | Strategy | Feb 26, 2016, 1:30 PM

    The Weekly Options News Roundup – 2/26/2016

    The Weekly Options News Roundup – 2/26/2016

    The Weekly News Roundup is your weekly recap of CBOE features, options industry news and VIX and volatility-related articles from print, broadcast, online and social media outlets. CBOE and Vest Financial Last month, CBOE made a majority equity investment in Vest Financial, an asset management firm that provides options-based services through packaged products and develops technology solutions for options-based investments. CBOE’s investment in Vest will allow for enhanced integration of CBOE’s[...]

  • Market News | Feb 23, 2016, 9:34 AM

    Why I Go to CBOE's Risk Management Conference

    Why I Go to CBOE's Risk Management Conference

    Next week is the CBOE Risk Management Conference, of all the events that are put on by different exchanges, associations and nonprofits, this is the only one that I absolutely refuse to miss.  Considering how great many great events there are, that is saying something but it is true for a multitude of reasons. For starters I learn a lot.  Last year there were sessions on trading VIX futures, trading SPX options, and trading equity options that I put to use almost immediately after returning[...]