| September 03, 2021 | | | | | Jeff Bergstrom
Editor
John Lothian News | |
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| | | | Observations & Insight | | | ****SC: The Cboe Options Institute is hosting a seven-part "Back To School" series this fall, led by adjunct OI faculty members Shelly Natenberg and David Silber. The sessions explore option pricing models, volatility and volatility strategies. The first one is September 14. You can register here.
| | | | | | Lead Stories | | | Options-Based ETFs Have Multiplied. Everything You Need to Know.
Evie Liu - Barron's
The exchange-traded fund industry is unlocking many investment opportunities that were previously available only to the more sophisticated investors. Access to the options market is one of them. Option-based ETFs have grown increasingly popular this year, as investors seek alternative sources of income or protection from market downturns. But investors need to understand what the trade-offs are for such benefits.
/bit.ly/3zPSldy
The boss of a 'Black Swan' fund predicts an epic market crash, warns crypto isn't a safe haven, and blasts the Fed in a new interview. Here are the 12 best quotes.
Theron Mohamed - Markets Insider
Mark Spitznagel predicted a historic market crash and warned the Federal Reserve's stimulus efforts would exacerbate the downturn, in a Yahoo Finance interview this week.
The investor, whose Universa Investments hedge fund returned 4,144% in the first quarter of 2020, also questioned the value of gold, bonds, and cryptocurrencies as safe havens. Moreover, he urged investors to rethink how they mitigate risk, and to stop mindlessly diversifying their portfolios - a key theme in his new book, "Safe Haven: Investing for Financial Storms".
/jlne.ws/3DLcQKE
Stocks That May Be Added to S&P 500 Index: Match, Keurig, Epam
Justin Zacks - Bloomberg
One of the most famous groups in the U.S. stock market, the Standard & Poor's 500 Index, may soon have some openings and online dating site Match Group Inc., well, may be a good match.
So might Keurig Dr Pepper Inc., Epam Systems Inc. and CoStar Group Inc., all of which meet the rules for being added to the benchmark.
/jlne.ws/3zJCtZU
The Stock Market Is Ignoring Biden's Corporate Tax Plan
Ben Levisohn - Barron's
April 15 is still more than seven months away, but it's time to start thinking about taxes.
Not personal income tax, mind you, but changes to the corporate tax code that could emerge from the budget reconciliation process only now beginning in Congress. President Biden's budget calls for higher taxes on companies, and it's simply a matter of time before it becomes law, thanks to the Democrats' slim voting majority in the Senate. Even West Virginia Sen. Joe Manchin, a Democratic moderate, appears to be on board, as long as the stimulus that the higher levies would help fund is paid for. And that means taxes will have to go up. The corporate rate could rise to 25% from 21%, partially undoing some of President Donald Trump's tax cuts.
/jlne.ws/3h0fnH6
As stocks soar, profit upgrades ignore GDP cuts :Mike Dolan
Mike Dolan - Reuters
The stock market juggernaut appears unstoppable at first glance, but there's a gnawing concern about continuous profit upgrades just as economists scramble to scale back growth forecasts.
Although the second quarter of 2021 likely marks the peak of the post-pandemic bounceback, corporate results still managed to wow the gallery. Annual U.S. earnings almost doubled over the 12 months and European aggregates topped 150%, with equity analysts pushing their year-end forecasts up again in the slipstream.
/jlne.ws/3h2I1ax
Robinhood Says It Likely Would Challenge a Ban on Payment for Order Flow
Bill Alpert - Barron's
Robinhood Markets fired back at the Securities and Exchange Commission after the agency said that eliminating a revenue stream that subsidizes the brokerage's zero-commission business model was under consideration. The firm told Barron's they likely would challenge a ban in court.
/bit.ly/3nfgN4D
| | | | | | Exchanges | | | EQDerivatives: MSCI, Eurex Grow Solutions in APAC, Global Demand for EM
Eurex
This article was written by deputy editor Georgia Reynolds and published in EQDerivatives on 27 August 2021.
Eurex has grown its market share in the MSCI Asia underlying contracts this year to around 80% from 54% last year. Mezhgan Qabool, head of market development and equity and index sales in the APAC for Eurex, highlighted MSCI EM Asia as the biggest contract being traded with the highest interest from global investors. Other popular contracts include MSCI Japan, Australia, India, China Free and Taiwan.
/bit.ly/3tdFbEm
Intercontinental Exchange Reports August 2021 Statistics
August ADV up 12% y/y; OI up 11% y/y
ICE
Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today reported August 2021 trading volume and related revenue statistics, which can be viewed on the company's investor relations website at https://ir.theice.com/ir-resources/supplemental-information in the Monthly Statistics Tracking spreadsheet.
/bwnews.pr/3kS8jNN
FLASH FRIDAY: Youth Movement at Cboe
Anna Lyudvig - Traders Magazine
FLASH FRIDAY is a weekly content series looking at the past, present and future of capital markets trading and technology. FLASH FRIDAY is sponsored by Instinet, a Nomura company.
As Labor Day weekend signifies the unofficial end of summer, we wrap up our Flash Friday Gen Z series today with a quintet of promising young individuals from Chicago-based exchange group Cboe Global Markets.
/bit.ly/3zJa2eL
| | | | | | Regulation & Enforcement | | | Executives at hedge fund Renaissance to pay $7bn in back taxes
James Fontanella-Khan - Financial Times
Top executives of Renaissance Technologies and their spouses have agreed to pay about $7bn in back taxes and penalties to federal authorities in connection with trades made by the quantitative hedge fund in the largest tax settlement in US history, according to people briefed on the matter.
/jlne.ws/2WOvgZU
SEC's Gary Gensler Has a Big, New Vision for the Stock Market. There Are Too Many 'Inherent Conflicts of Interest.'
Avi Salzman - Barron's
The plumbing of the U.S. stock market, like actual plumbing, tends to operate quietly in the background.
In January, as if a wall had been ripped open, the market's tangled and decades-old pipes were suddenly exposed to millions of retail investors who had given little thought to them before. They had piled into stocks like GameStop (ticker: GME). Then, at the height of the mania, some brokers, including Robinhood Markets (HOOD), whose explosive growth has been fueled by new investors, restricted trading in those stocks. The newbies cried foul, and lawmakers called for change.
/bit.ly/3DJ3vCZ
| | | | | | Miscellaneous | | | 10 Ways to Win in Fantasy Football and Options Trading
pmartin@sir-inc.com - Schaeffer
Nasdaq
You might assume that speculating with options and playing fantasy football have very little in common, but you'd be wrong. To start, both have become more mainstream lately -- equity options volume surged 30% year-over-year amid to record high levels, according to the Options Clearing Corporation (OCC). Fantasy sports, meanwhile, maintained its popularity during a pandemic thanks to sports gambling platforms like DraftKings (DKNG). Leagues are still commonplace, yes, but daily fantasy and a variety of other games are roaring in popularity. Still, the options and fantasy arenas can be scary places for rookies. So while the playing fields are evolving over the last six years, the keys to success on both fronts are actually fundamentally similar.
/bit.ly/3yCYnN2
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