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Big Volatility Players May Be on the Loose as VIX Tops 17; Options prices imply Janet Yellen is leaving on a high note; Finally, Investors Get Punched by Volatility Newsletter,Options

Observations & Insight The Spread – Week of 1/29 – 2/2 JohnLothianNews.com We’re baaaack! The flu season stinks but this episode of The Spread doesn’t. The Spread is a brief recap of some of the notable activity in the options world. Watch the video here » Lead Stories Big Volatility Players May Be on the Loose as VIX Tops 17 Joanna Ossinger and Luke Kawa – Bloomberg Trading patterns associated with two major volatility players popped up again Friday as the Cboe Volatility Index rose above 15 for only the second day this year. The move came as the quick…

SEC hack; Deutsche Boerse to cap executive pay; Yellen’s end of QE John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff 2017 Chicago Block-chain Summit, October 10, 2017, The Most Influential Gathering of Blockchain Influencers in the World. We’ve gathered 30 of the world’s leading block-chain experts from regulators at the SEC to the country’s top lawyers & technologists – Click Here To Register.~JK Uber has lost its license to operate in London, though it can appeal. That affects 40,000 drivers who have no idea where you are going without the help of Google maps.~JJL It’s Friday, a good day for a Heineken commercial song – The Asteroids Galaxy Tour.~JK RJO celebrated work…

Harvey throws a wrench into U.S. energy engine; NYSE owner lines up sale of energy trader; Chicago Exchange Sale Looks Shaky as China Tensions Rise John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff The CME has published a video “Spread trading with E-mini Russell 2000 futures.”~JJL Leslie Sutphen is the speaker featured today in JLN from the MarketsWiki Education World of Opportunity series in Chicago from July.~JJL Bloomberg has a story “Odds of U.S. Technical Default About 15%, T-Bills Curve Shows.” This is something to keep your eye on.~JJL In more “millennials are wrecking things” news, J.D. Power reports “48% of millennials with $100,000 in investable assets … say they ‘probably will’ or ‘definitely will’ leave their current firm and advisor, compared with just 8%…

Indexes Beat Stock Pickers Even Over 15 Years; Deutsche Boerse reluctant to extend CEO contract after failed merger; Chi-X Australia boss John Fildes steps down John Lothian Newsletter,Newsletter

First Read Head of marketing Mead leaves CME Julie Aelbrecht – Futures & Options World Mead’s departure marks the latest management change under new CEO Terry Duffy The Chicago Mercantile Exchange’s head of marketing Christopher Mead has resigned from his role at the firm, marking the latest management change under new chief executive Terry Duffy. Mead will leave the Merc after over 11 years in its US marketing department. A spokesperson from the Chicago Mercantile Exchange (CME) has confirmed Mead will be leaving the firm at the end of the month. jlne.ws/2nImzOE ***** I can’t say enough good things about…

Extreme Positioning in Options Markets Can Offer Trade Signals, Says Morgan Stanley; Hedging Costs Jump in Europe’s Stock Market; Hong Kong plans bigger derivatives role Newsletter,Options

Lead Stories Extreme Positioning in Options Markets Can Offer Trade Signals, Says Morgan Stanley V Ramakrishnan – Bloomberg Data suggests Mexico peso to gain, U.S. two-year swaps to fall; Some assets move in opposite direction of positioning: MS Investors seeking winning strategies across asset classes might want to take a look at how traders are positioned in options markets to get an idea of what’s coming. A Morgan Stanley study of about 20 assets from currencies to Treasuries found traders could earn “significantly above average” returns by looking for what the paper’s authors called extreme positioning. That’s when the gap…

Volatility slump defies election shock; Independent US oil producers increase hedges for 2017; Profiles in Uncertainty – Election Night Lesson in Market Dynamics Newsletter,Options

Observations & Insight How we talk Jim Kharouf – JLN My column yesterday, What Just Happened about the election of Donald Trump as the next president of the United States struck a chord with readers. We received more reader feedback on this column than we have in some time, some negative, some supportive. Here are a few. “Thanks for this insightful OpEd. You articulated so many feelings I’m still trying to process.” And this: Wow, what an ignorant, cheap shot to smear nearly 60 million Americans that way. Deplorables, right? As a life-long New Yorker, I’ve watched Trump in action…

John Lothian Newsletter: The Unraveling of a Wall Street Scion; BM&F Bovespa sells CME stake ahead of planned Cetip purchase; The DTCC and 4 top banks used blockchain tech to trade credit swaps John Lothian Newsletter,Newsletter

First Read 2016 Exchange CEO Series: LME’s Garry Jones Looking At More Metals, More Clearing and More China JohnLothianNews.com Last year represented the first full year in which London Metal Exchange was under the Hong Kong Exchanges & Clearing umbrella. Now the exchange is looking forward to expanding through new products, users and via its relatively new clearing house, LME Clear. The LME battled some major commodity headwinds in 2015, with metals prices falling anywhere from 25 to 45 percent, and many firms pulling out of the market due to risk concerns, mine closures and various mining and banking staff…

John Lothian Newsletter: Market fears are feeding on themselves; Exchanges warn against giving brokers power over key decisions; Swedish Bank Move Creates a Global Shudder John Lothian Newsletter,Newsletter

First Read Five-Decade Market Pro Who Called Bond Rally Sees 1% U.S. Yields Andrea Wong – Bloomberg Gary Shilling sees Treasury gains as global rates go negative; Former Merrill Lynch top economist says this cycle is unique A year ago, with U.S. equities approaching record highs and the Federal Reserve moving toward raising interest rates, Gary Shilling was a lonely voice on Wall Street predicting financial-market gloom in the 12 months ahead. goo.gl/IoHWsq ***** I am just hoping to get a 3% 30-year mortgage soon.That would be the rate my parents had for the house I grew up in. ++++…

John Lothian Newsletter: BATS Exchange to Try Again at an I.P.O.; Confident and clear, Yellen says rate path will be well signaled; IBM, JP Morgan, and Others Build a New Blockchain For Business John Lothian Newsletter,Newsletter

First Read A Marginal Victory – for the Time Being Doug Ashburn – JLN Yesterday, a U.S. Government entity took a giant step that will have far-reaching effects on the global financial ecosystem. Oh, yeah, and the Fed raised interest rates for the first time in 10 years. While most eyes in the financial world were glued to the talking heads blathering about the rate hike, I was watching the CFTC as it approved two rulemakings – a proposed rule that would require exchanges, clearing houses, swap execution facilities and data repositories to conduct specific cybersecurity tests. It also issued…