March 08, 2024 | | | | Jeff Bergstrom Editor John Lothian News | |
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| | Observations & Insight | | FIA Tech's Andrew Castello Catches Us Up on What's New With FIA Tech's Data Business, Database Network Services and AI. JohnLothianNews.com John Lothian interviewed Andrew Castello, vice president and head of client operations at FIA Tech, in a video for John Lothian News. Castello talked about what's new at FIA Tech's data business, including expanding its network, introducing contract specifications, and bringing in proprietary vendors. They have also been focusing on index futures and single stock futures. Watch the video » ++++
Term of the Week - Compensation for a Potential Obligation JohnLothianNews.com This week's Term of The Week is Compensation for a Potential Obligation. Watch the video »
| | | Lead Stories | | Bitcoin-at-$100,000 Forecasts Are Looking More Realistic in the Options Market; Open interest for $100,000 call options is on the rise David Pan - Bloomberg After long being scoffed at as just more hype from crypto evangelists, Bitcoin-at-$100,000 predictions are beginning to look like a realistic possibility in the options market. The largest cryptocurrency jumped to another all-time high of more than $70,000 on Friday, capping a seven-week run of more than 70%. /jlne.ws/3TcINEf Are structured products to blame for suppressed volatility?; It's covered calls wut done it, says BIS Robin Wigglesworth - Financial Times For a while now, people with too much time on their hands have argued that the Vix index is too low. Some attribute this to the surge in zero-day options trading. The Bank for International Settlements has another theory. Yes, we're dipping back into the BIS quarterly review. Yesterday Alphaville dug into its aside on prime brokerages, but the report also contained an interesting breakout box on the volatility index's mysterious quietude. /jlne.ws/43qdGKd There's 'No Fear' in the Stock Market Gunjan Banerji - The Wall Street Journal Traders are betting this stock rally will continue. "There's no fear in the market," said Matthew Tym, head of equity derivatives trading at Cantor Fitzgerald. "People really don't seem to be worried about any sort of downside." /jlne.ws/48JD1zz A Stanford Student-Run Fund's Bitcoin ETF Investment Stirs Up a Buzz Hannah Miller - Bloomberg When Bitcoin reached a new all-time high on Tuesday, Stanford University sophomore Kole Lee penned a triumphant post on social-media platform X to announce that the student-run Blyth Fund had roughly 7% of its portfolio in Bitcoin following his February investment pitch. It caused quite a buzz, since it was believed at the time that the Blyth Fund was part of Stanford's massive endowment. /jlne.ws/3T9SIKP How an Evanston hedge fund caught the Nvidia wave early John Pletz - Crain's Chicago Business Just before chipmaker Nvidia crossed the trillion-dollar threshold and became the poster child for the economic power of artificial intelligence, it joined Evanston-based hedge fund Magnetar Capital to invest in a startup called CoreWeave. CoreWeave had assembled data centers full of computer servers loaded with Nvidia's superfast graphics-processing chips for cryptocurrency mining. The company soon discovered that it was even more lucrative to rent those servers for things like making special effects for movies and, later, artificial intelligence. /jlne.ws/48EIJmo
| | | Exchanges | | Cboe trading pits endure despite takeover of electronic trading Mark Weinraub - Crain's Chicago Business The din on Cboe's trading floor is growing louder even as the volume in trading pits around the rest of the world is getting quieter. That's because of the strength of the Chicago-based exchange's massively popular S&P 500 index options contracts, which investors use to mitigate their risk exposure in nearly every asset class and investment vehicle. The hands-on environment works best for large trades, traders say. /jlne.ws/48N8fWH ****** Louder than what? A library?~JJL OIC on the Road: MoneyShow TradersExpo OIC Ed Modla, Executive Director, Investor Education, OCC, and colleague Mark Benzaquen, Principal, Investor Education, OCC and OIC Instructor, traveled to Las Vegas, Nevada to attend the MoneyShow TradersExpo, February 21-23 at the iconic Paris Hotel. MoneyShow/TradersExpo is a premier in-person event connecting industry professionals and attendees to provide timely investing and trading education, delivered by powerful experts who are best-selling authors, market analysts, portfolio managers, award-winning financial journalists, and newsletter editors. The event spans sectors including stocks, bonds, commodities, real estate, cryptocurrencies, alternative investments and more. /jlne.ws/3wNQdX3 Miami International Holdings Announces Participation in World Federation of Exchanges Ring the Bell for Gender Equality MIAX MIAX will host a ceremonial bell ringing at its corporate headquarters in Princeton, N.J., on March 8, at 9:30 a.m., EST, to celebrate the event. /jlne.ws/4c4QPaT
| | | Regulation & Enforcement | | SEC Defers Decision on Spot Bitcoin ETF Options Trading Emily Graffeo - Bloomberg The US Securities and Exchange Commission has extended the timeline for which it will make decision on approving the trading of options on exchange-traded funds that invest directly in Bitcoin. The US securities regulator deferred on a filing from Cboe Exchange Inc. to offer options tied to ETFs holding Bitcoin, according to documents posted on the agency's website Wednesday. The SEC also delayed a decision on a filing from Nasdaq ISE to list and trade options on BlackRock's iShares Bitcoin Trust. /jlne.ws/3v1BQh4
| | | Strategy | | The Stock Market's Rapid Rise Is Making Some Analysts Nervous. An Opportunity Could Be Ahead; Signs of exhaustion. Overextension. Why a buying opportunity could be ahead. Jacob Sonenshine - Barron's Nobody wants to miss out on more stock gains, but market technicians warn that this isn't the time to chase the S&P 500 higher. The index could be set up for a drop that becomes a buying opportunity. Technicians, who look at charts for information about where stocks or indexes might be headed, are starting to get nervous. While the S&P 500 has gained 25% since its low point in October 2023âand left anyone calling for a selloff looking foolishâthe index appears to have come too far, too fast. /jlne.ws/3T7z95D The Option Block 1266: A Master Class In How To Trade A Tender Offer Option Block (Video) /jlne.ws/3It0sCr Realized Volatility Cboe (Video) Dan Deming @djd551 on the impact of Jerome Powell's testimony and today's payroll data on the vol structure, activity in $VIX options (March 20 & 23 calls) and data points to look out for next week - all in #Vol411. /jlne.ws/3v4v8He
| | | Miscellaneous | | Banks, Hedge Funds Need to Stop Using Sexual Harassment NDAs, UK Lawmakers Say; UK lawmakers say misconduct still too prevalent in finance; Lawmakers also say regulators should not demand diversity data Olivia Konotey-Ahulu - Bloomberg Banks and financial firms should be banned from using nondisclosure agreements in workplace sexual harassment disputes because they risk silencing victims while protecting perpetrators, British lawmakers have warned. Senior leaders and board members at companies should take responsibility for addressing these issues and changing the culture, a parliamentary report concluded, while also urging men to take a more active role in challenging and reporting sexual harassment by other men. /jlne.ws/3wEknf6
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