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As Stocks Reach New Highs, Investors Abandon Hedges; Bond Market Vol at Multidecade Lows Newsletter,Options

Observations & Insight Top Options Stories of 2017 Countdown JohnLothianNews.com Listicles are occasionally the butt of jokes – Buzzfeed knows – but what about listideos? With 2017 in the bag, we at JLN thought we’d recap the year in options with a list of the big stories and trends – and there were a number. Below are links to stories referenced in the countdown. Watch the video and read the rest here » Lead Stories As Stocks Reach New Highs, Investors Abandon Hedges Gunjan Banerji – WSJ Big stock-market gains are leading a number of investors to abandon defensive positions…

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…

Top Options Stories of 2017 Countdown Feature,Video,video

Listicles are occasionally the butt of jokes – Buzzfeed knows – but what about listideos? With 2017 in the bag, we at JLN thought we’d recap the year in options with a list of the big stories and trends – and there were a number. Below are links to stories referenced in the countdown. When a theme is addressed, the linked story is indicative of the theme.  11) Development of crypto derivatives 10) BOX opens a trading floor 9) Nasdaq to launch VIX alternative 8) MIAX opens second exchange, Pearl 7) Broker fee wars 6) Vela acquires OptionsCity 5) Consolidated Audit Trail (CAT)…

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…

Off-hour Earnings and Options; Swedish Bank Bosses Escape Options Blow-up Blame; HFT Tales Newsletter,Options

Lead Stories How Do Traders Respond to Off-Hour Earnings Announcements? Based on the research of Matthew R. Lyle, Christopher Rigsby, Andrew Stephen and Teri Lombardi Yohn – Kellogg School of Management at Northwestern University On Wall Street, “business hours” aren’t quite what they seem. The opening bell of the New York Stock Exchange rings at 9:30 a.m. Eastern, and the closing bell sounds at 4 in the afternoon—yet 95 percent of publicly traded companies announce their quarterly earnings outside of those official hours. jlne.ws/2qrxvSw ****SD: Basically, people are slow to react to earnings announcement the further they are from normal…

Risk Premia Catches On; SKEW vs. VIX; Intel Chip Flaws and Options; BTC options Newsletter,Options

Lead Stories Derivatives: Asset managers catch on to risk premia strategies Costas Mourselas – GlobalCapital Risk premia strategy, a form of passive investing, is gaining ground among asset managers as they turn to the product for a steady source of yield and a tool for hedging uncertain macroeconomic conditions. This type of investing relies on ideas — many of which are derived from academic papers — that have consistently delivered returns, and are expected to do so into the future. jlne.ws/2qn8xU7 *****SD: Just catching on, eh? Where ya been? SKEW Index Continues To Diverge From VIX Index Sean Emory –…

MiFID Starts; Exchange Stats; OCC AA+/Stable Rating Reaffirmed Newsletter,Options

Observations & Insight December 2017 Options Exchange Marketshare via OCC Exchanges and Clearing CME Group Reached Record Average Daily Volume Of 16.3 Million Contracts In 2017, Up 4 Percent From 2016 CME Group 2017 Interest Rate average daily volume was a record 8.2 million contracts, up 9 percent compared with 2016 Annual average daily volume records also were reached in Energy, Agricultural Commodities, Metals, total options and electronic options /goo.gl/Yy152d OCC AA+/Stable Rating Reaffirmed By S&P OCC CHICAGO (January 2, 2018) – OCC, the world’s largest equity derivatives clearing organization, today commented on the reaffirmation of its AA+/Stable rating by…

OCC 2017 Total Contract Volume 3rd Highest Ever; Markets must prep for more volatility Newsletter,Options

Lead Stories OCC 2017 Total Cleared Contract Volume Up Four Percent, Third Highest Volume Year Ever OCC OCC, the world’s largest equity derivatives clearing organization, today announced 2017 volume reached the third highest total cleared contract volume ever with 4,327,576,930 contracts, a four percent increase from the 4,167,747,777 cleared contracts in 2016. December cleared volume was 346,006,092 contracts, up three percent from December 2016. OCC also reported record-breaking 2017 volume for cleared futures with 138,029,762 cleared contracts; a 32 percent increase from 2016. /goo.gl/dnQLzH Markets must prepare for more volatility; Never before have central bank balance sheets been so large…

Chinese Investor Buys Stake in Delaware Blockchain Exchange; Hong Kong and China regulators sign MOU on futures markets; John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff OCC’s David Prosperi likes to quote his former boss, Ronald Reagan, on Twitter with quotes from the Reagan Foundation Twitter account. Today’s quote is a good one: “The bedrock of our strength is America’s moral and spiritual character. Peace with freedom is the highest aspiration of the American people. We negotiate for peace. We sacrifice for it. We will never surrender for it.” -Ronald Reagan @ronaldreagan40~JJL Trillium has a 2017 trade surveillance enforcement recap out – it can be found in our lead section. This year’s 15 spoofing or layering enforcement actions are…