| | | | | | | April 29, 2025 | | | |  | Jeff Bergstrom
Editor
John Lothian News | |
|
| | |  | | | | Observations & Insight | | | IEX's Ronan Ryan and John Ramsay welcomed IEX executives John Palmer and Ivan Brown on the latest edition of the Boxes and Lines podcast. They are leading IEX's launch into the options market and discuss how options differ from equities and the growing popularity of zero-day-to-expiration (0DTE) contracts. Palmer and Brown explain the unique risks market makers face in a quote-driven environment, why now is the right time for IEX to enter options trading, and how IEX's Signal technology helps protect against stale quotes, making their offering distinct in a competitive market. You can also watch the podcast on YouTube HERE. ~JJL
| | | | | | Lead Stories | | | Wall Street's fear gauge drops to lowest level in more than three weeks
Jamie Chisholm - MarketWatch
The Cboe Volatility index, or VIX, an option-derived measure of expected S&P 500 volatility, fell to just below 25 early Tuesday.
That took the VIX, which is known as Wall Street's 'fear gauge', to its lowest level since April 3, the day after the stock market started to swoon following U.S. President Donald Trump's 'liberation day' global tariff announcement.
/jlne.ws/42Sd14i
Wall Street's winners and losers during Trump's 100 days at White House
Shashwat Chauhan and Medha Singh - Reuters
The dramatic shift in U.S. domestic and foreign policy since President Donald Trump returned to the White House on January 20 has sent shockwaves across global financial markets.
Trump's multi-front trade war and constant flip-flops on tariffs have upended supply chains, clouded business outlooks and stoked fears of a recession in the U.S. The S&P 500 (.SPX), opens new tab has lost nearly 8% since his January 20 inauguration.
/jlne.ws/3GunviF
Bridgewater's Dalio: Too Late to Fix Trade-War Fallout. World Order Risks Breakdown.
Reshma Kapadia - Barron's
While markets have had a reprieve from the volatility resulting from the Trump administration's escalating trade war, Ray Dalio, the founder of hedge fund giant Bridgewater Associates, has said the quiet part out loud about the
/jlne.ws/44JZXjS
9 charts show how chaotic Trump's second term has been for the economy
Madison Hoff and Matthew Fox - Business Insider
BI looked back at how stocks, consumer confidence, and business optimism have changed.
It's the 100th day of President Donald Trump's second term, and it's been full of economic changes.
He's signed over 100 executive orders, could push the average effective tariff rate to the highest in over a century, and has cut large swaths of the federal government.
Hard economic data doesn't reflect much of Trump's new policies just yet: The job market is still on the same cooling but strong trajectory it's been on, and inflation was still marching down toward the Federal Reserve's target before the bulk of new tariffs kicked in.
/jlne.ws/438YUbS
A steep plunge in the dollar is a reason to stay bullish on stocks, Morgan Stanley's CIO says
Filip De Mott - Business Insider
As Wall Street voices fears over the potential for US assets to lose their edge against international peers, Morgan Stanley says a waning dollar could be the stock market's saving grace.
The bank expects the greenback's recent decline to buoy US stocks against international equities, preserving "US exceptionalism."
/jlne.ws/4cQAuqY
| | | | | | Exchanges | | | Cboe Futures Exchange Launches Trading in Cboe FTSE Bitcoin Index Futures
Cboe Global Markets
Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, announced it has begun to offer trading in its new Cboe FTSE Bitcoin Index futures. These new cash-settled futures, based on the FTSE Bitcoin Reduced Value Index[1] (Ticker: XBTF), are the latest addition to Cboe's growing suite of digital asset derivatives. Exclusively listed on Cboe Futures Exchange, LLC (CFE), the new XBTF futures are expected to provide market participants with another versatile tool to express views on bitcoin or manage risk. XBTF futures are cash-settled contracts, meaning positions are closed in cash at expiration, removing the complexities of physically delivering bitcoin.
/jlne.ws/4iBlqig
Deutsche Bank Debt Trading Hits Record on Market Volatility
Arno Schuetze and Oliver Crook - Bloomberg
Deutsche Bank AG's trading unit hit a record in the first quarter as the lender benefited from market volatility. The fixed income and currencies business recorded a 17% revenue jump to EUR2.9 billion ($3.3 billion) in the three months through March, Deutsche Bank said on Tuesday. The result exceeded the average 5% increase across Wall Street and was the highest for the German lender since at least 2013, according to data compiled by Bloomberg.
/jlne.ws/436miH8
SPX Convexity Falls as Tariff Optimism Grows
Mandy Xu - Cboe Insights
Implied volatilities fell across asset classes last week as risk assets rebounded. SPX convexity premium (VIX minus SPX 1M ATM vol) came in further last week, ending the week at just 3.4 pts (vs. a near record high of 10 pts earlier this month). The quick retracement stands out compared to covid, when convexity remained elevated for almost two years even after the market had fully recovered. The lack of demand for tail protection is a sign investors still remain confident in the "Trump put".
/jlne.ws/3GJcY33
| | | | | | Regulation & Enforcement | | | Over 50 crypto ETFs await SEC nod
Anushka Basu - The Street
A fresh wave of crypto ETFs is awaiting entry onto the U.S. markets, with over 50 funds now awaiting SEC decisions. These ETFs cover everything from Bitcoin and Ethereum to Solana, XRP, and Dogecoin, according to the latest figures from Bloomberg. For the big names, submissions come from Grayscale, Franklin Templeton, Bitwise, and VanEck. According to the data, new ETF filings for Solana (SOL), Ripple (XRP), Cardano (ADA), and DOGE suggest altseason may be on the horizon as institutional interest in this sector grows. Specialized offerings, such as Bitcoin and Ethereum staking ETFs and Ethereum option ETFs, are also in the works.
/jlne.ws/3YSDXzv
| | | | | | Technology | | | SIX Expands Global Fixed Income Data Coverage with Extensive New Offering; SIX, the global financial data and market infrastructure provider, has launched SIX Fixed Income Data today. The new data offering delivers industry leading coverage of pricing, reference data, corporate actions, and underlying source documents for the global fixed income markets.
BME-X
The solution provides reliable global fixed income data to banks, asset managers, wealth managers and hedge funds worldwide. With comprehensive coverage, rigorous validation processes, seamless integration into existing systems, and a flexible service model, the solution helps market participants reduce reliance on inconsistent, error-prone sources and stay agile as their needs evolve. The data set draws from a vast array of information from across global markets to make this possible, particularly for instruments in the largest fixed income market, the United States. With SIX Fixed Income Data, clients have access to data for 3.6 million US instruments across municipal, corporate and government debt, and structured finance.
/jlne.ws/3RBAZeV
| | | | | | Strategy | | | Inside the volatility-trading strategy one investor is using to capitalize on Trump market madness
William Edwards - Business Insider
There's hardly been a dull moment for the stock market in April - particularly for investors who profit from volatility itself.
For the first time since the pandemic-driven stock-market crash in early 2020, the CBOE Volatility Index, or VIX, crossed over the 40 mark this month.
The VIX typically moves in the opposite direction of the S&P 500 and measures the implied volatility investors expect over the following 30 days based on the index's options contracts. It reflects how much traders are willing to pay for protection against market swings: When the market plummets, the cost to hedge against downside risk rises, and the VIX soars.
/jlne.ws/42SOM5I
| | | | | | Events | | | Last Chance To Register: 6th Annual ETFGI Global ETFs Insights Summit - Europe & Africa In London On May 1st And Virtually May 2nd
Mondovisione
Register to join ETFGI on Thursday, May 1st at our 6th ETFGI Global ETFs Insights Summit - Europe & Africa at the London Stock Exchange & virtually on Friday, May 2nd. Register now! The event will begin with an opening bell-ringing ceremony at the London Stock Exchange to celebrate the 25th anniversary of the listing of the first ETFs in UK and Europe. This will be followed by a day of keynote and panel discussions featuring industry leaders from ETF issuers, regulators, investors concluding with a networking drinks reception. Virtual sessions will take place on May 2nd.
/jlne.ws/3Gy36cz
| | | | | | Miscellaneous | | | These Were the Best and Worst S&P 500 Stocks During Trump's First 100 Days
Mackenzie Tatananni - Barron's
President Donald Trump's first 100 days in office have been marked, in short, by volatility. Both uncertainty about his ever-changing tariff policies and fear that they could bring a recession have taken a toll on the market.
/jlne.ws/44fdorW
| | | | |  | | | | JLN Options is sponsored by: | | | | | |  |  |  |  | | | | | |  |  |  |  |
|
|
| | | |
| | | | John Lothian News (JLN) is the news division of John J. Lothian & Company, Inc. (JJLCO). The online media and financial services firm is staffed by derivatives industry, journalism and technology professionals. | | | | | | | John Lothian News Editorial Staff: | | | John Lothian
Publisher | | | Sarah Rudolph
Editor-in-Chief
| | | Jeff Bergstrom
Editor
| | |
|
|
