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Low Bond Vol Creates Trove of Cheap Bets; Wells Fargo/LJM Update JLN Options Newsletter,Newsletter,Options

Lead Stories Low Bond Volatility Creates Trove of Cheap Bets; Whatever happened to rising interest rates sparking market turbulence? Brian Chappatta – BloombergQuint The Federal Reserve is raising interest rates, and that’s going to increase volatility. Or at least that was the nearly unanimous view of investors worldwide heading into 2018. But aside from “volmageddon” in early February, that simply hasn’t been the case. Instead, the stock market’s fear index (formally the Chicago Board Options Exchange Volatility Index) is firmly below its five-year average. Interest rates are even quieter, with Bank of America Corp.’s MOVE index, which tracks price swings…

JPM sees signs of VIX fix working; Goldman’s new team; BNY’s FX options Newsletter,Options

Observations & Insight The Curve Spencer Doar – JLN One of yesterday’s top stories was Bloomberg’s Rare Shift in ‘Fear Gauge’ Shows Depth of Market Angst. At the time we published, the front month July VIX futures contract traded higher than August by more than .5 – defying the curve’s normal contango. However, that is a far cry from when the whole curve went into backwardation after the early Feb blowup and by the end of Monday that inversion was down to .08. By the time of publishing, that particular kink in the curve went away. Today’s open plotted with…

UK regulators to fine Barclays chief; Deutsche Bank’s flub; Wells Fargo $1b fine John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff The story of my being awarded the Silver Beaver Award by the Boy Scouts was reported in the Elmhurst Patch, posted by my friend and fellow scouter John Fabry.~JJL The Magnetar Youth Investment Academy held The Night Out for Financial Literacy fundraiser last evening in Chicago. The academy has served more than 14,000 students at 70 schools in the Chicago area. Chance The Rapper spoke with Magnetar Capital’s founder and CEO Alec Litowitz. When asked what he would have invested in when he was 17 years old, Chance replied that he didn’t have…

Dash Buyout; LJM-Wells Fargo lawsuit; Options-based funds study Newsletter,Options

Observations & Insight Bits for Weekly VIX/SPX Expiration Day Spencer Doar – JLN The Onion had a good title for Gary Cohn’s resignation – Gary Cohn Resigns In Protest Of Trump’s Bigoted Comments Towards Aluminum. If you’re wondering when this trade war could kick off – who isn’t? – Axios is reporting that Trump wants to announce tariffs tomorrow and the White House said “this week.” Cboe released an update of its white paper on options-based funds. The 105 options-based funds focused on in the study have AUM of $38.1 billion. Some $8.5 billion of that total comes from the…

Finance chiefs warn on Big Tech; Trading venues buzzing; China to stamp out cryptocurrency trading John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Richard Sandor has a new book coming out, “Electronic Trading & Blockchain: Yesterday, Today and Tomorrow.” The book tells the story of his experience leading the first project to design and establish an electronic trading platform and for-profit exchange when he taught at Berkeley in the late 1960s. Included in the book are chapters from leaders in digital assets, including Don Wilson and Don Tapscott. Doc Sandor gives Jim Kharouf and I a tip of the hat in the book as we are mentioned as leading figures in the financial press covering the…

The World’s Largest Oil Hedge Is Complete; Cboe says bye bye to Bats brand Newsletter,Options

Observations & Insight Deep Dive With JLN: How Can The Financial Industry Draw In The Next Generation Of Talent? JohnLothianNews.com John Lothian News’ CEO Jim Kharouf sat down with Brian Mehta, chief marketing officer at Trading Technologies, and Doug Monieson, partner at Hyde Park Angels, to talk about what will attract the next generation of traders and professionals into this space. From college outreach programs like TT CampusConnect to a variety of new education, training, competitions and platforms that open the world to new traders with new ideas, both see the financial markets as having much to offer. “Getting companies…

Are Chicago trading firms losing out in consolidation?; Hackers target weakest links for insider trading gain John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff As part of the sponsorship of the MarketsWiki Education Recruiting event, some sponsors get a one-minute video produced to tell the story of their internship program. Here is the one from HC Technologies titled, “HC Technologies Talks About Shaping the Next Generation of Derivatives Traders.”~JJL Congrats to Adrienne and Stuart Muir, Alison Hood, Cathy Lyall, Wendy Deguara, Clive Furness, Clare Black, Katy Birch, Jo Sullivan, Rob Alexander, Jo Shannon and Julie Carruthers, who raised £9,748.75 for NICU at Evelina on September 30th. Ibuprofen and heat/ice help.~JK From MarketsWiki: The Indian Energy Exchange…

SEC nomination; Trouble for fastest traders; The death of stocks has been exaggerated John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff Our friends at Deutsche Boerse Group have produced a video posted to Youtube titled “Brexit explained in simple terms”~JJL Do you know BOAT Services? The Cinnober subsidiary just received FCA approval to publish your firm’s post-trade reports – it’s a MIFID II thing. BOAT Services has more than 350 customers.~JK Retired FIA President John Damgard is today’s featured speaker from this summer’s MarketsWiki Education World of Opportunity series in Chicago.~JJL The Realization Group and Software AG is hosting the second in a series of roundtable discussions on Digital Excellence in Banking and…