JLN Options: CME's Daily Trading Volume for Treasury Options Hit Record Friday

Feb 5, 2013

Lead Stories

CME’s Daily Trading Volume for Treasury Options Hit Record Friday
Dow Jones Business News (via NASDAQ)
Total daily volume edged up 0.1% to 1,174,227, compared with 1,172,710 reached on June 8, 2007. This included a record 639,306 Treasury options executed on CME Globex.
http://jlne.ws/Wsv1tX

Are SPX Options Too Cheap?
Minyanville
One of the first themes of options trading that I learned on the trading desk was that the best predictor of future volatility is recent realized volatility, with all else being equal. Best predictor does not mean good predictor. It simply means that, of all the alternatives, recent realized volatility is the best starting point to use when considering if options are cheap or expensive at this moment.
http://jlne.ws/UV6gHB

Will derivatives mirror equities? 
Steve Grob, Futures & Options World
Fidessa’s Steve Grob looks at whether the industry will follow equities into a world of fragmented liquidity, smaller trade sizes and HFT.
http://jlne.ws/WrsQXH

TABB Group Introduces Monthly US Equity Brokerage Index, Publishes 2013 State of the US Equities Market Report
Press Release
TABB Group is rolling out a US Equity Brokerage Index in response to strong demand from the firm’s research and consulting clients. The new index, with 10 underlying components and calculated monthly, is introduced in a new TABB research report, “US Equities Market: 2013 State of the Industry.”
http://jlne.ws/UV9cnH

Exchanges

CME to Shut K.C. Board of Trade, Boost Chicago Wheat
Jeff Wilson, Bloomberg
CME Group Inc. (CME), the world’s biggest grain market, plans to expand futures offerings in wheat on its Chicago trading floor on July 1 after closing the Kansas City Board of Trade following a buyout.
http://jlne.ws/WsvUmq

BATS Modifies Price Sliding Orders
Tom Steinert-Threlkeld, Traders Magazine
BATS Exchange has changed its operating rules to preclude orders on its market from trading through protected quotes, to other markets, when prices are sliding.
http://jlne.ws/WsyhFG

Stocks Recover After Worst Drop in 2013; Dow Near 14,000
JeeYeon Park , CNBC
Stocks rallied Tuesday, wiping out most of the previous session’s 1 percent drop, boosted by a report that showed the services sector grew in January and positive economic data from Europe.
http://jlne.ws/UV8J52

NYSE Fourth-Quarter Profit Tops Estimates on Cost Cutting
Nandini Sukumar & Lindsey Rupp, Bloomberg
NYSE Euronext (NYX), the U.S. exchange operator being bought by IntercontinentalExchange (ICE) Inc., reported fourth-quarter earnings that beat analyst estimates after the company cut costs.
http://jlne.ws/WrsUXs

Regulation

SEC Expands Probe On Executive Trades
Susan Pulliam,  The Wall Street Journal (via Yahoo Finance)
The Securities and Exchange Commission, expanding a high-profile investigation, is gathering data on a broad number of trades by corporate executives in shares of their own companies, according to people familiar with the probe.
http://jlne.ws/UV4Mxa

EU lawmaker panel rejects key derivatives rules
Huw Jones, Reuters
A panel of European Union lawmakers on Monday narrowly rejected a set of new derivatives rules, potentially leading to months of uncertainty for users of regulations instigated during the 2007-09 financial crisis in an effort to make markets safer.
http://jlne.ws/UV50Et

Strategy

Just How Low Can VIX Go? 
Jay Wolberg, Seeking Alpha
If you’ve been watching the markets lately and noticed that VIX has been spending some time in the 12s, you might be wondering just how much lower will VIX go?
http://jlne.ws/WszqgA

Wall Street Sector Selector Presents New Online VIX and VIX ETN Seminar  
Wall Street Sector Selector
VIX, the CBOE S&P 500 Volatility Index, also known as the “fear index,” is generating intense investor interest. Wall Street Sector Selector’s New Online VIX and VIX ETN Seminar introduces investors to this dynamic asset class.
http://jlne.ws/UV7WkC

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Seeing red: tricky times in the markets

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