Derivatives Insights for the Active Trader
Timely, informed market insights to help you stay ahead and make sharper decisions every single trading day.
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Even more quick reads, all in one place. Discover what's moving the market and why it matters.
JJ Kinahan brings more than three decades of trading and markets experience to his role at Cboe, where he leads the firm's retail expansion and alternative investment products strategy. A recognized authority on derivatives, options, and volatility, JJ translates complex market dynamics into clear, actionable insights for active investors and financial advisors. He is a frequent contributor on CNBC's Squawk Box and Bloomberg and has established himself as one of the most trusted voices on market structure and derivatives education. Today's Market Take is his daily commitment to keeping investors ahead of the market.
Some market forces take more than a morning brief to unpack. These pieces dig into the bigger themes shaping markets and what they mean for your trading strategy.
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The markets are barely budging in early trading after the strongest week we’ve seen since April, spurred by robust momentum in artificial intelligence and earnings beats coupled with disappointing employment numbers – easing interest rate hike fears – that helped the market finish strongly to the upside.
The surprise jobs report gave the markets an early boost that may be tough to hold on to throughout a summer Friday when many folks tend to cut the work-day hours. July nonfarm payrolls slumped by 23,000 jobs, a big miss from an expectation of an 83,000 gain, and June and July’s numbers were significantly revised downward.
Market volatility is a fact of investing. Prices rise, prices fall, and when uncertainty picks up, the question on many investors' minds shifts from "how do I grow my portfolio?" to "how do I protect what I've built?"
The options market experienced significant growth and dynamic shifts during the first quarter of 2026, marked by record-setting volumes across major index, ETF, and single stock contracts. There was robust activity in both established and newly launched products, as well as evolving regulatory and structural developments.
2025 was the sixth consecutive record year for U.S. listed options. Unprecedented industry participation was driven by strong equity performance, bouts of elevated volatility and increased retail and institutional flow. Total options volume topped 15.2 billion contracts in 2025, 26% above 2024 — the previous record.
