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JLN Options: Despite Gold Selloff, Options Traders Bank on Rebound Newsletter,Options

Lead Stories Despite Gold Selloff, Options Traders Bank on ReboundCarolyn Cui, The Wall Street JournalSo gold notched its biggest one-day drop in 30 years. What’s next?Despite the heavy losses, broken technical levels and waves of margin calls, the options market for the yellow metal is beaming with optimism.http://jlne.ws/15dptKq Gold Options: Graphical description of the price slumpOle Hansen, TradingFloor.comThe biggest two-day sell-off in 30 years has triggered some major moves in gold options. Implied volatility has surged, with the cost of downside protection rising the most. Implied volatility has almost doubled after rising to almost 29 percent, which in a near-term…

JLN Options: Gold VIX: Bugs Turn Fearful Newsletter,Options

Lead Stories Gold VIX: Bugs Turn FearfulSteven Russolillo, The Wall Street JournalGold’s fear gauge is getting panicky.The CBOE Gold VIX is up 57% on Monday. It is on pace to blow past Friday’s 39% surge, which at the time was the biggest-ever increase in percentage terms, according to the exchange.http://jlne.ws/YXzqs2 FOCUS: Speculators Hike Appetite For Gold In Latest CFTC Report — Just Ahead Of Price BreakKitco News (via Forbes)Speculators raised their appetite for gold, increasing their exposure to U.S. futures and options contracts traded on the Comex division of the New York Mercantile Exchange and on the Nymex, according to…

JLN Options: When options trading ahead of deals raises eyebrows Newsletter,Options

COMMENTARY & INSIGHT From the John Lothian Newsletter: One Giant Step for ISE…Gary KatzSince John was gracious enough to let me stand on his soapbox this week, I am going to use it for a little shameless self-promotion this morning. As I hope many of you have already seen, ISE announced the brand name of our second options exchange yesterday – ISE Gemini. While we are still pending regulatory approval and expecting to launch in late Q2, this is another major step forward for us. The name itself was chosen through an internal committee which honed in on Project Gemini…

JLN Options: White House Derivatives Tax Proposal Puts Wall Street in the Crosshairs Newsletter,Options

Commentary & Insight World Federation of Exchanges CEO Huseyin Erkan Shares His Perspective on the Global Economy MarketsWiki.tv Huseyin Erkan is CEO of the World Federation of Exchanges (WFE) and was formerly Chairman and CEO of the Istanbul Stock Exchange (ISE) from 2007 to 2012. Before becoming CEO of WFE, he was a member of the WFE’s Board of Directors from 2008 to 2011. Erkan spoke with JLN Editor-in-Chief Jim Kharouf about the WFE’s current restructuring process, what the end of regulatory reform means for exchanges, potential drivers for growth in 2013, and what impact the global economy will have…

JLN Options: Not Enough Reform on Derivatives Newsletter,Options

Lead Stories Not Enough Reform on DerivativesThe New York Times (Editorial)On Thursday, several bills to pre-empt the regulation of derivatives will be the focus of a hearing in the House Financial Services Committee. The bills, which have already passed the Agriculture Committee, must be stopped if the world is to be made safe from reckless risk-taking by banks. As it turns out, Representative Jeb Hensarling, Republican of Texas and the new head of the Financial Services Committee, may be the man to stop them.http://jlne.ws/17qYlag S&P 500 hits new record high; financials leadAngela Moon, ReutersStocks rose more than 1 percent on…

JLN Options: Exchanges Are Moving to Curb Private Trades Newsletter,Options

Lead Stories Exchanges Are Moving to Curb Private TradesNathaniel Popper, The New York TimesThe chief executives of the three largest stock exchanges are joining forces for the first time to push regulators to rein in the increasing amount of trading that is moving off public exchanges and onto platforms like so-called dark pools.http://jlne.ws/YIet46 ** As this week’s guest editor of the John Lothian Newsletter, Gary Katz, President and CEO of the International Securities Exchange, commented on the above story: “The US listed options industry has from the start precluded dark pools from trading the fungible products now available on eleven…

JLN Options: VIX: Has Vol-of-Vol Stopped Working? Newsletter,Options

Lead Stories VIX: Has Vol-of-Vol Stopped Working?Jared Woodard, The StreetOne of the phenomena we have focused on a lot in our CBOE Volatility Index (VIX) trading over the last few years is the volatility of volatility.http://jlne.ws/XolTsr The VIX Index Rises As Reality Sets In: Weekly VIX ETF ReportWall Street Sector SelectorThe VIX Index (but not VIX ETFs) appeared to be reacting in fear to the declining equity markets.  The NASDAQ’s 2% slip, the Russell 2000′s 1.7% slip, and the S&P 500′s 1% slip likely did not quell investor fears, as it appears by and large that the major indexes are…

JLN Options: SEC Delays Action on BOX’s Jumbo SPY Proposal Newsletter,Options

Lead Stories SEC Delays Action on BOX’s Jumbo SPY ProposalPeter Chapman, Traders MagazineThe Securities and Exchange Commission put off a decision on whether to approve a request by the BOX Options Exchange to introduce a “jumbo” options contract based on the SPY exchange-traded fund that is 10 times larger than the standard SPY option.http://jlne.ws/12qLktP VIX Futures Trading Hours Will Almost Double by June, CFE SaysNikolaj Gammeltoft, BloombergBusinessweekThe CBOE Futures Exchange LLC will almost double trading hours for futures linked to the benchmark gauge for U.S. options prices as part of a move toward around- the-clock market access.http://jlne.ws/13Y7vfJ Stocks Trim Losses,…

JLN Options: Citadel Asks Supreme Court to Hear Derivatives Case Newsletter,Options

Lead Stories Citadel Asks Supreme Court to Hear Derivatives Case Jacob Bunge, The Wall Street JournalOne of the biggest U.S. derivatives traders has joined a long-running legal battle over a lucrative slice of the market and asked the Supreme Court to decide the matter.Citadel LLC, which trades one in five stock-options contracts dealt daily on U.S. markets, has called on the nation’s highest court to loosen the hold of the Chicago Board Options Exchange over heavily-traded contracts linked to major stock indexes.http://jlne.ws/ZBUP5n U.S. Stocks Little Changed as Stimulus Optimism FadesLindsey Rupp & Nikolaj Gammeltoft, BloombergU.S. stocks were little changed, paring…