Moran-Matt

Matt Moran

Matt Moran is Director, Head of Index Insights at 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 as trust counsel at Harris Bank and vice president at CME Group. He is an associate editor of two Institutional Investor publications — The Journal of Trading and The Journal of Index Investing. Moran holds JD and MBA degrees from the University of Illinois.

  • Sep 28, 2020, 4:48 PM

    Managing Global Risk Exposure with MSCI EAFE® and EM Index Options

    Managing Global Risk Exposure with MSCI EAFE® and EM Index Options

    Financial professionals interested in learning more about this topic are invited to join Cboe for a webinar on September 30. Learn more and register below. In August, the total market capitalizations for the MSCI EAFE Index and the MSCI Emerging Markets Index hit $14 trillion and $6.4 trillion, respectively. Additionally, the country weighting of China’s stocks in the MSCI Emerging Markets Index grew to 42.5% last month. Interest in managing global risk exposure has grown in recent years, and[...]

  • Sep 21, 2020, 4:40 PM

    Understanding Values-Based Investing with Cboe’s New S&P 500 ESG Index Options

    Understanding Values-Based Investing with Cboe’s New S&P 500 ESG Index Options

    Today, Cboe Global Markets™ launched cash-settled options on the S&P 500 ESG Index (ticker: SPESG). The S&P 500 ESG Index is designed to align investment objectives with environmental, social and governance (ESG) values, and the new index options are a potential tool for investors to implement hedging, risk management, income enhancement and asset allocation strategies. Let’s take a look at some recent findings and trends with ESG investing. Growth in ESG Investment Mandates According[...]

  • Sep 11, 2020, 3:57 PM

    How to Tame Risk with VIX® Futures and Options in 2020

    How to Tame Risk with VIX® Futures and Options in 2020

    Financial professionals interested in learning more about this topic are invited to join Cboe for a webinar on September 16. Learn more about how to register below. Record volatility in early 2020 along with potential heightened uncertainty around the U.S. presidential election, the ongoing COVID-19 pandemic and other concerns have increased interest in harnessing tradable volatility products to manage risk. Let’s see what the VIX futures term structure and other benchmark indices tracking[...]

  • Aug 10, 2020, 8:50 AM

    10 Key Features of the VIX Index and New Mini VIX Futures (VXM)

    10 Key Features of the VIX Index and New Mini VIX Futures (VXM)

    Cboe Futures Exchange (CFE®) launched trading in Mini Cboe Volatility Index® futures (VXMSM) on Monday, August 10.  The increased volatility in 2020 amplified interest in the Cboe Volatility Index (VIX®) and related products, driving demand for a new addition to the VIX Index suite. We’ve compiled a list of features that may help investors better understand the VIX Index and the new Cboe Mini VIX futures. Before reading further, it’s important to note: Mini VIX™[...]

  • Feb 20, 2020, 3:51 PM

    New Wilshire Paper Uncovers Where to Find Enhanced Risk-Adjusted Returns

    New Wilshire Paper Uncovers Where to Find Enhanced Risk-Adjusted Returns

    New study highlights volatility risk premium for strategies that sell Russell 2000 options With the low interest rate environment and steady bull market of recent years, lower yields and lower expected returns from “traditional” investments have left many investors wanting more. If you’re looking for new strategies that have the potential to harness the rich pricing of options and to enhance risk-adjusted returns, Wilshire Analytics may have a solution. The recently published Wilshire[...]

  • Jul 16, 2019, 5:34 PM

    Index FLEX Contracts Hit New Records as Investors Customize Their Options

    Index FLEX Contracts Hit New Records as Investors Customize Their Options

    FLexible EXchange Options (FLEX® Options) offer customers customizable terms for strike prices, exercise styles and expiration dates with the transparency, administrative ease and clearing guarantees of standard listed options. Since Cboe first introduced FLEX® Options in 1993, interest has grown tremendously – most notably in the first half of 2019. New Volume and Open Interest Records for FLEX Index Options Cash-settled index FLEX Options set new all-time records for open interest[...]

  • Jul 1, 2019, 11:20 AM

    Cboe Launches First-Ever Global Options-Based Benchmark Indexes

    Cboe Launches First-Ever Global Options-Based Benchmark Indexes

    Cboe MSCI Benchmark Indexes Delivered Less Volatility and Strong Risk-Adjusted Returns Over the years, investors have found utility in Cboe’s benchmark indexes that reflect the writing of options based on U.S. stock indexes. These indexes, such as the BXM, PUT and BXRD indexes, can help market participants enhance the cash flow and lower the volatility typically associated with equity investing. For investors looking to replicate the same analysis on global stocks, Cboe introduced BuyWrite[...]

  • Jun 5, 2019, 1:38 PM

    New Volume and Open Interest Records for Mini-SPX Index (XSP) Options at Cboe and EDGX

    New Volume and Open Interest Records for Mini-SPX Index (XSP) Options at Cboe and EDGX

    As May came to close, some trends in Cboe’s Mini-SPX Index (XSP) options emerged, including higher volumes and record open interest. For background, Mini-SPX options are just as their name implies, a smaller contract, 1/10th the value of S&P 500 Index (SPX) options. This smaller size provides added flexibility, which may help an investor hedge a specific desired exposure or facilitate accurate allocations of index trades among many customer accounts –among other uses. I’ve recently[...]

  • May 29, 2019, 2:58 PM

    White Paper Shows Volatility Risk Premium Facilitated Higher Risk-Adjusted Returns for PUT Index

    White Paper Shows Volatility Risk Premium Facilitated Higher Risk-Adjusted Returns for PUT Index

    Using more than 32 years of analysis, University of Illinois at Chicago Professor Oleg Bondarenko explored if certain strategies could exploit the richness in pricing of index options. He shared his findings in the recent white paper, “Historical Performance of Put-Writing Strategies” and discussed his research at the 35th annual Cboe Risk Management Conference.  See what he has to say below. Volatility Risk Premium (VRP) for S&P 500 Options In his research, Bondarenko found[...]

  • May 13, 2019, 2:29 PM

    New Research Shows Options-Based Strategies Can Generate Higher Gross Premiums with Less Volatility Over Traditional Asset Classes

    New Research Shows Options-Based Strategies Can Generate Higher Gross Premiums with Less Volatility Over Traditional Asset Classes

    A new white paper finds SPXW Index that sells SPXW puts generated average annual gross premiums of 37%, with less volatility compared to stocks and bonds. Do you still wonder if all put-selling strategies have tremendous left-tail drawdown risk? University of Illinois at Chicago Professor Oleg Bondarenko has an answer for you in his new white paper, “Historical Performance of Put-Writing Strategies,” which he presented at the 35th annual Cboe Risk Management Conference. See what he has[...]

  • Feb 7, 2019, 11:19 AM

    What You Need to Know About Cboe’s New Options on Select Sectors

    What You Need to Know About Cboe’s New Options on Select Sectors

    Today, Cboe Global Markets announced the rollout schedule of new large-sized, cash-settled options on 11 Select Sector Indexes from February 7 through 14. The first options on the Materials Select Sector Index launched today. There are several key features of the options that users may find appealing, including: Efficient Exposure to U.S. Industry Sectors: With special appeal for investors seeking an alternative to ETF options, including European customers constrained by certain European regulations [...]

  • Jan 17, 2019, 4:32 PM

    Key Cboe Benchmark Indexes Using SPX Options Offer Strong Risk-Adjusted Returns

    Key Cboe Benchmark Indexes Using SPX Options Offer Strong Risk-Adjusted Returns

    Following a decline in the S&P 500® Index of 6.9% in October and a drop of 9.2% in December, more investors appear to be exploring income-producing strategies that have the potential for relatively strong risk-adjusted returns amid increased market volatility. To help investors with that process, Cboe offers 10 benchmark indexes designed to measure the hypothetical returns of strategies that use S&P 500 (SPX(SM)) options, with daily data histories beginning in mid-1986. HIGHER OPTIONS[...]

  • Jan 9, 2019, 5:04 PM

    Record-breaking Month and Year for Cboe’s Stock Index Options

    Record-breaking Month and Year for Cboe’s Stock Index Options

    Since 1983, Cboe has offered stock index options. In 2018, several new all-time records for volume and open interest were reported as investors faced heightened volatility. Index options have the potential to generate more income for options sellers who receive options premiums, help manage exposure and protect a portfolio from damaging huge drawdowns. RECORD VOLUME AND OPEN INTEREST FOR CBOE’S S&P 500 OPTIONS In 2018, the average daily volume (ADV) for S&P 500® options (SPXTM and[...]

  • Dec 26, 2018, 2:25 PM

    Cboe’s All-Options Put/Call Ratio Hits 1.82, Its Highest Level in More Than 23 Years

    Cboe’s All-Options Put/Call Ratio Hits 1.82, Its Highest Level in More Than 23 Years

    On December 20, Cboe’s daily Put-Call Ratio for its entire options volume rose to 1.82, reaching its highest level in more than 23 years. Analysts and investors often follow and cite put/call ratios in conjunction with attempts to gain insights on possible changes in investors’ bullish or bearish sentiments. Recent news stories in Barron’s and in Bloomberg have highlighted comments on the possible impact of high put/call ratios. DATES WITH HIGH AND LOW PUT/CALL RATIOS The table[...]

  • Dec 19, 2018, 7:15 PM

    New Record Open Interest for Cboe S&P 500 Options Surpasses 20 Million Contracts

    New Record Open Interest for Cboe S&P 500 Options Surpasses 20 Million Contracts

    While many investors are concerned that benchmark indexes for major investment classes are down year-to date, it appears more investors are using S&P 500 options to manage risk and enhance income On December 18, open interest for Cboe’s S&P 500 (SPX and SPXW) options surpassed 20 million for the first time in its history of more than 35 years and hit a new all-time record high of 20,101,598 contracts. The Cboe S&P 500 95-10 Collar Index (CLLSM), an index that tracks the[...]