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Cryptocurrency Prices Crumble; Traders Pay Through the Nose to Bet the S&P 500 Will Snap Higher; Dow Industrials Cross 26000 for First Time as Earnings Season Ramps Up Newsletter,Options

Lead Stories Cryptocurrency Prices Crumble; Bitcoin, Ethereum Post Large Losses Nasdaq Cryptocurrency Market under Heavy Selling Pressure “Only when the tide goes out do you discover who has been swimming naked,” stock market guru Warren Buffett once observed and it looks like the cryptocurrency tide has definitely receded in the last 24 hours with the market showing double digit percentage losses right across the board. The sell-off started in Asia and accelerated when European traders entered the fray, as talk continued to circulate that South Korea was preparing a cryptocurrency ban. Bitcoin and Ethereum prices fell sharply last week after…

A Huge Player in VIX Options Just Changed Its Buying Behavior; Stocks Are Priced for Perfection; 6 Signs of Extreme Stock Market Optimism Newsletter,Options

Observations & Insight STAC Options Notes Spencer Doar – JLN It was a lively options market structure panel at STAC’s Mid-Winter Meeting in Chicago Wednesday. Moderated by OCC’s Chief Risk Officer John Fennell, the panelists were BOX CEO Ed Boyle, Dash Financial CEO Peter Maragos, CTC’s Head of Market Structure Steve Crutchfield, and IMC Managing Director Paul Jiganti. Here are some takeaways. Crutchfield gave an example, provided by Trade Alert President Henry Schwartz, of how burdensome bank capital rules can be on big bank clearers (there are pretty much only three) of options liquidity providers. In a very tight put…

Options Market Is Skeptical About High-Yield Bonds; OCC plans minimum cash contributions to clearing fund; German-Russian man admits to Dortmund team bus bombing Newsletter,Options

Observations & Insight The Spread – Week of 1/1/18 JohnLothianNews.com A new year, a new Spread! The Spread is a brief recap of some of the notable activity in the options world. The following are stories referenced in this week’s episode of The Spread: Bloomberg – Five Things We Learned About MiFID II on Its First Day at Work OCC – OCC 2017 Total Cleared Contract Volume Up Four Percent, Third Highest Volume Year Ever The New York Times – When Forecasters Get It Wrong: Always See It Market – SKEW Index Continues To Diverge From VIX Index Northwestern’s Kellogg…

Quant funds set to pass $1tn mark; Hong Kong Exchange Eyes New Trading Rules; Spread-betting rise threatened by EU rules John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Brazil’s exchange, B3 (formerly BM&FBovespa) announced its main stock market performance index – Ibovespa – hit a record high Friday, ending the day at 79.071 points, up 0.54 percent from the previous Ibovespa record of 78.647 points last Thursday.~JK SGX reported its derivatives volume was 178.4 million, up 18 percent in 2017 from the previous year, with its FTSE China A50 Index futures the most active contract with 64 million contracts, up 13 percent. Here is the full report.~JK With Mark Mobius retired from Franklin Templeton, who in emerging markets will pick up…

The Spread – Week of 1/1/18 Feature,Video,video

A new year, a new Spread! The Spread is a brief recap of some of the notable activity in the options world. The following are stories referenced in this week’s episode of The Spread: Bloomberg – Five Things We Learned About MiFID II on Its First Day at Work OCC – OCC 2017 Total Cleared Contract Volume Up Four Percent, Third Highest Volume Year Ever The New York Times – When Forecasters Get It Wrong: Always See It Market – SKEW Index Continues To Diverge From VIX Index Northwestern’s Kellogg School of Management – How Do Traders Respond to Off-Hour…

Chicago firms gear up for MiFID II; EU exchanges clash with customers over fees; South Korea Considers Closing Bitcoin Exchanges John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff This is the second to last edition of the John Lothian Newsletter for 2017. Tomorrow we will publish JLN, but not JLN Options or JLN Asia Pacific News.~JJL Eurex‘s trading calendar for the new year can be found HERE.~JJL There were a couple of commodity related explosions this week. First, a Libyan crude oil pipeline was blown up by suspected terrorists, helping move prices. It is believed it will take a week to get the pipeline back online. Then there was an explosion at an Argentinian grain terminal owned by COFCO that killed…

Frankfurt Winning Battle for Brexit Bankers; End of 47-Year Japan Rice Program; Smart beta funds pass $1tn John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Spencer Doar’s weekly JLN Options video feature, The Spread, continues to get better. This last week’s was a beut.~JJL Holy smokes. Get this: “The Legends Room, the world’s only blockchain based nightclub, rings in 2018 with two incredible nights of crypto fun. On Saturday, December 30th, the Legends Room presents Samantha Ronson and Saint Clair. On Sunday December 31st, the club will feature Post Malone and 21 Savage together.” I do not like this, Sam-I-am. But hey, it’s Vegas, right?~SD The JLN Team has cancelled their in the office meeting today, rescheduling for…

Who Regulates Bitcoin Trading?; China’s Oil Pricing Bid Will Fail; Senate Confirms Jackson, Peirce to SEC John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff The JLN Staff is working from home this week, with the exception being Wednesday, when we will convene in our CBOT Building offices to map out our January schedule.~JJL Jim Kharouf has officially stepped down as CEO of John J. Lothian & Company, Inc.~JJL Want some fun map facts? The cartographic debate over the distortion of Africa came up again this week – The Economist has the details. Let’s just say when it comes to map making, there are a number of ways to skin a cat.~SD The A Wealth of Common Sense…

Million-Dollar Bet Bitcoin Skyrockets to $50,000; A Year for the History Books; VIX of Tech Stocks Newsletter,Options

Observations & Insight Editor’s Note Due to the Christmas holiday, there will not be a JLN Options Newsletter Friday, Monday and Tuesday (December 22, 25 and 26). Have a good time – bust out the apparel that hides in the back of a drawer for 11 months, have some nog, make jokes about coal and try to not to fight with the fam. See you all in a bit. ++++++ Seed CX Swaps Hemp For Cryptocurrencies Spencer Doar – JLN Bitcoin hit the derivatives mainstream, but what about its other crypto cohorts? On Tuesday, it was announced that Bittrex, a…