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Day Trading the VIX; The Exec Securing Money With Blockchain; LME considers starting lithium contract John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff ICE has committed more than $1 million to relief from Hurricane Harvey. You can donate through them too.~JJL CME Group will hold a Tech Talk 6.0 event on September 14 in Chicago at the Museum of Broadcast History. Topics to be addressed include Trending FinTech, Alternative Data, Innovation in the Cloud and Analytics: From Sports to Finance.~JJL Keith Fishe of TradeForecaster Global Markets offered some feedback from his daughter about this summer’s MarketsWiki Education World of Opportunity series in Chicago. Thanks Keith!~JJL Yesterday we added pages for Thomas Laux, Manfred Matusza, Gregor…

Traders test OPEC ‘whatever it takes’ resolve to defend oil price; The VIX is not a Fortune-Teller; ‘Vol’-Apalooza: A Handy Reference Guide To Low Volatility Regimes Newsletter,Options

Observations & Insight Are You Registered? If you haven’t registered for our Trading Chicago event, a joint effort between John Lothian News and FOW, now is the time. The one-day event is set for June 28th at the Swissotel in Chicago. You can register HERE and see the agenda for the conference. The program is packed with great topics and speakers. We’ll be leading off with a keynote from Craig Pirrong from the University of Houston and a debate over Dodd-Frank between Leslie Sutphen and Gary DeWaal. Other panels cover trading derivatives in the age of populism, trading fixed income,…

HFT – Not so flashy anymore; Vicious VIX; JPM Head Quant Warns Of “Catastrophic Losses” For Short Vol Strategies Newsletter,Options

Observations & Insight An Excerpt of Note Spencer Doar – JLN I am re-reading “Liar’s Poker” because…I don’t really know why — maybe it’s just summer instinct with all these reading lists floating around. Anyway, about a quarter of the way in, there’s a notable anecdote from Michael Lewis’ training program at Salomon: “‘When you trade equity options,’ asked my friend Franky, ‘do you hedge your gamma and theta or just your delta? And if you don’t hedge your gamma and theta, why not?’ The equity options specialist nodded for about ten seconds. I’m not sure he even understood the…

Manipulation in the VIX?; Options Suggest Traders Overconfident About Inflation Forecasts; Opec – Brent crude options volatility eases ahead of OPEC decision Newsletter,Options

Observations & Insight MIAX Options: Consolidated Audit Trail (“CAT”) Fee Dispute Resolution Rule Mondovisione MIAX Options filed with the Securities and Exchange Commission a rule filing to adopt MIAX Options Rule 1713 that will establish the procedures for resolving potential disputes related to fees to be charged to Industry Members related to the National Market Plan Governing the Consolidated Audit Trail. jlne.ws/2rU7pmX ++++++ The CAT Scratches: Fees on Options Exchanges Spencer Doar – JLN Seeing the above MIAX press release got me thinking about these Consolidated Audit Trail (CAT) fees and why there would be reason for dispute. Please note,…

How Can We Extend the Success of the VIX to the Whole Equity Options Market?; Investors Aren’t As In Love With Stocks As You Might Think; OPEC set to prolong oil output cuts by nine months Newsletter,Options

Lead Stories How Can We Extend the Success of the VIX to the Whole Equity Options Market? Timothy Klassen, Volar Technologies LLC – TabbForum The introduction of the new VIX in late 2003 led to the eventual explosion of trading volumes in VIX futures and options. Volumes in the rest of the listed equity options market have been stagnant for years. More generally, the options market is not transparent, since there is no standard for quoting options in volatility terms. We argue that standards for dividend modeling, borrows, and volatility fitting are at hand, and can be a huge benefit…

Government enforcers take aim at compliance officers; Euronext to acquire FastMatch and expand into global FX markets; KCG Said to Eliminate 10% of Staff, Shut Two Offices in Asia John Lothian Newsletter,Newsletter

First Read Ride For Beth Jan Bart de Boer, Chief Commercial Officer ABN AMRO Clearing We are raising money to fund research to help the daughter of our European Chief Commercial Officer, James Egan. James Egan is a very well known and respected person in the Futures industry in Europe. His daughter Beth has an incredibly rare autoimmune disease, ‘Scleroderma.’ We are raising money to fund a scientific investigation at Great Ormond Street (UK) hospital (where she is treated) to try and learn more about the disease and how it can be treated in the long term. We are looking…

Traders Pile On Long Positions As Nifty Hits Lifetime High; China to Allow Onshore Bond Buying via Hong Kong This Year; Oil at $40 No Problem as U.S. Drillers Snub OPEC With Hedges Newsletter,Options

Lead Stories Traders Pile On Long Positions As Nifty Hits Lifetime High Agam Vakil – Bloomberg The Nifty 50 index advanced 1.7 percent on Tuesday hitting a new lifetime high of 9,122 on an intraday basis and even managed to close above the 9,000-mark for the first time on record. The index, which was trading in a tight range for the last couple of weeks, soared to record highs after Prime Minister Narendra Modi’s party secured an impressive mandate in the country’s largest state. bit.ly/2n0dFu6 China to Allow Onshore Bond Buying via Hong Kong This Year Bloomberg China will allow…

Wall Street’s ‘fear index’ jumps the most in about 5 months as Trump spooks market; VIX shorts hit new record; Trump Aides’ Confusion Mimicked by Bond, Stock Options Gauges Newsletter,Options

Lead Stories Wall Street’s ‘fear index’ jumps the most in about 5 months as Trump spooks market Mark DeCambre – MarketWatch A popular measure of Wall Street fear jumped to its highest level in more than four months on Monday, as the equity market retreated amid concern over President Donald Trump’s controversial executive order aimed at tightening U.S. immigration rules. on.mktw.net/2kH1vTh ***JB: Further below is a story about the VIX at its lowest in 10 years, published 4 hours ago. My how fast things change! VIX shorts hit new record Helen Bartholomew – Reuters Net short positioning in the CBOE’s…

OCC Names New CFO, Treasurer, and Chief Compliance Officer; Volume on Oil Derivatives Hits Record as Traders Eye $60 a Barrel; OPEC Deal Upends Everything in Oil Market, Not Just Prices Newsletter,Options

Observations & Insight November Options Exchange Marketshare via OCC ++++ The View from Convergex: Reinvention, Options and Market Structure Spencer Doar – JLN It may come as a surprise that Convergex, the agency brokerage with headquarters in New York, has a hand in approximately 20 percent of all options routed through U.S. listed options exchanges and actually executes some 8 percent of daily options volume. The company has been reinventing itself over the last two-and-a-half years under the leadership of Eric Noll, who became CEO in the wake of a 2013 settlement. Convergex’s reputation took a hit when it admitted…