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JLN Options: MIAX Receives Approval Order from the United States Securities and Exchange Commission to Become Newest Equity Options Exchange; Trading to Commence on December 7, 2012 Newsletter,Options

Lead Stories MIAX Receives Approval Order from the United States Securities and Exchange Commission to Become Newest Equity Options Exchange; Trading to Commence on December 7, 2012Press ReleaseMIAX Options Exchange (“MIAX”) announced today that on December 3, 2012, it received an Approval Order from the United States Securities and Exchange Commission (“SEC”) of its Application for Registration as a National Securities Exchange, and thus MIAX will act as its own self-regulatory organization. [Release No. 34-68341; File No.10-207.]  Trading on MIAX, a fully electronic options trading exchange, is scheduled to commence on December 7, 2012.http://jlne.ws/SKjbtw PowerShares Readies ‘Downside Hedged’ ETFTom Lydon,…

JLN Options: Ed Boyle to Join BOX as SVP in January; Why the ‘VIX of VIX’ is at Historical Lows Newsletter,Options

Lead Stories Ed Boyle to Join BOX as SVP in JanuaryJohn Lothian News has learned that senior derivatives industry executive Ed Boyle will be joining The Boston Options Exchange (BOX) as a senior vice president of business development and strategy. Boyle, the former head of NYSE’s Arca exchange and more recently an executive with GETCO, has been acting as a consultant for BOX for the last month. Last month, Boyle was named to the Advisory Committee of John J. Lothian & Company, Inc.  Additionally, he serves on the advisory board of OptionsCity Software, Inc. BackgroundHe was tabbed in December 2010…

JLN Options: Approval Pending, Miami Exchange Plans Its Launch Newsletter,Options

Lead Stories Approval Pending, Miami Exchange Plans Its LaunchJacob Bunge, The Wall Street JournalThe Miami Options Exchange plans to open for business Dec. 7, though the market has yet to be granted formal approval by U.S. regulators.The planned stock-options exchange, which aims to become the 11th U.S. options market, told banks and financial firms of the expected launch in a notice that outlined the final tests of its new trading system.http://jlne.ws/QM0Y1N Only The VIX Gets The Fiscal CliffJoe Weisenthal, Business InsiderIf you watch coverage of the Fiscal Cliff, you might think that on January 1, the economy is going to…

JLN Options: ISE Announces Mini Options Launch Date of March 18, 2013 Newsletter,Options

Lead Stories ISE Announces Mini Options Launch Date of March 18, 2013Press ReleaseThe International Securities Exchange (ISE) today became the first exchange to confirm a launch date of March 18, 2013 to commence trading in Mini Options. Since receiving Securities and Exchange Commission (SEC) approval for this innovative new product offering, ISE has been coordinating with its member firms to determine an appropriate date for launch readiness. Mini Options will represent a deliverable of 10 shares of an underlying security, whereas standard contracts represent a deliverable of 100 shares. ISE will initially list Mini Options on the following securities: AAPL,…

JLN Options: High-Yield Bond ETF Implied Volatility Skyrockets Newsletter,Options

Lead Stories High-Yield Bond ETF Implied Volatility SkyrocketsJohn Spence, ETF TrendsWall Street’s fear gauge, the CBOE Volatility Index, has remained quiet despite the market’s recent choppiness on fiscal cliff fears and Europe’s debt crisis flaring up again. However, popular high-yield bond ETFs are telling a different story.The VIX fell 7% during Monday’s stock rally and is hovering near multiyear lows.http://jlne.ws/10n8GQe Why is the VIX So Low?Teeka Tiwari, NASDAQ The VIX, also known as the “fear indicator” in a measure of the amount of people buying downside protection options (Puts) on the S&P 500.  When the market is getting clobbered (like…

JLN Options: Shorties Options Will Stand Tall Newsletter,Options

Lead Stories Shorties Options Will Stand TallA new, shorter options contract introduced last week will give investors more flexibility in hedging event-specific risks. Steven M. Sears, Barron’sMost people will tell you they’re long-term investors. They think they are able to ignore the distractions that make others panic and sell. They think they buck the trends, and have the equanimity to buy when others are selling and sell when others are buying.http://jlne.ws/UPga9A***First Weeklys, now shorties, a tool to hedge against volatility-producing market events.– SR Vix volatility index depicting bear market behaviorJeff Greenblatt, FuturesI have good news and bad news. I know…

JLN Options: Flight From Risk Extends Beyond Apple Newsletter,Options

Lead Stories Flight From Risk Extends Beyond AppleRandall W. Forsyth, Barron’sOnly buy stocks that go up. If they don’t go up, don’t buy them. That was the investment advice offered by the late humorist Will Rogers, and it seems to be followed by investors as much as ever.That has led them to flock to Apple (ticker: AAPL) at its peak of $705.07 a share in September and to flee the stock en masse as it dropped to a six-month low Thursday of $525.62. As of this writing, it fell another $11.14, or 2.1%, to a recent $514.48.http://jlne.ws/TIdnxQ*** “Apple’s market capitalization…

John Lothian Newsletter: S Korea Plans Tax On Options And Futures; U.S. Banks Told To Make Plans For Preventing Collapse; Another Day, Another Trading Glitch: RBS Owns EUR/CHF Spike John Lothian Newsletter,Newsletter

South Korea is planning a transaction tax for futures and options activity, and not surprisingly some say that the move could harm exchange volume in that country.  Formerly-secret plans regarding the banking industry come to light, showing that the U.S. government wants strategies in place for how banks might manage their own demise, and that government help should not be assumed in a future crisis.  RBS shuffles to the front of the class and owns up to a fat-finger currency trade that created excessive algo activity and a big price spike.

CFTC Rule 1.73: Jim Downs of Connamara Systems Talks About New Options Rule Interview,Regulation,Video

Jim Downs

A little known CFTC rule (Rule 1.73), part of the Dodd-Frank Act, is gaining attention of futures brokers. Jim Downs, founder and CEO of Connamara Systems, explains the basics of Rule 1.73, which will force FCMs and swaps participants to create new market-based limits on options positions, as well as monitor liquidation costs, options stress tests and other compliance elements. Downs talks about the key components of the new rule, which goes into effect on October 1, and what impact it may have on the industry. Interview by John Lothian News editor-in-chief Jim Kharouf.