The Spread – July 2, 2021

Finra socks Robinhood with its biggest-ever fine; Cboe acquires Chi-X Asia Pacific; OCC reports another volume gain; NIO takes its cue from options; John Lothian weighs in with his take; Looking for volatility; and Jermal Chandler explains hedging in the options “Term of the Week.”

The following are links to stories referenced in this episode of The Spread:
MarketWatch – Robinhood pays record fine to Finra, settling probe into options trading issues and technology outages — /on.mktw.net/3jHW6MX
Robinhood blog – https://blog.robinhood.com/
Bloomberg – 
Robinhood’s Investors Have Fun – https://bloom.bg/3dGU9wh
OCC – June 2021 Total Volume Up 25.6 Percent from a Year Ago – https://bit.ly/36mShF3
Cboe – Cboe Global Markets Completes Acquisition of Chi-X Asia Pacific — /prn.to/3dxs5LO
Barron’s – Stock in Chinese electric vehicle maker NIO is on fire. While a surge in the volume of options trading isn’t a perfect explanation for the rally, it certainly helped shares soar. /bit.ly/3AbvYzO
Bloomberg – Volatility Is Poised for a Comeback and Even Bulls Are Concerned — /bloom.bg/3jBRibw
ICE – ICE’s Global Commodities Futures Markets Reach Record Open Interest of 35.2 Million Contracts — /yhoo.it/3y3o0GQ
Coindesk – Bitcoin Options Open Interest Hits 2021 Low as Frenzy Cools, Or Maybe It’s Soccer — https://bit.ly/3dJ4w2G
WSJ – Robinhood’s Finra Settlement Highlights Growing Pains of Fintech Firms; The fast-growing online brokerage company, which officially filed for an IPO, has beefed up its legal and compliance teams — https://jlne.ws/2Ukgl8s
Financial Times – 
The five most revealing numbers in the Robinhood IPO prospectus; Fast-growing but controversial brokerage readies hotly-anticipated flotation – https://jlne.ws/2V0ISjX
Bloomberg – Robinhood Says U.S. Demanded Access to CEO Tenev’s Phone Records – https://jlne.ws/3ha5O8P
CME — CME Group Reports Q2 and June Monthly Market Statistics — https://bit.ly/2UYxIMq

 

 



 

 

 

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Past The Spread Episodes

Tesla Trade Spurs Early-Week Stock Selling; Inflation Index Jumps; Options Volume Continues to Set Records – The Spread – November 12, 2021

Tesla Trade Spurs Early-Week Stock Selling; Inflation Index Jumps; Options Volume Continues to Set Records – The Spread – November 12, 2021

– Tesla CEO Elon Musk sells shares, briefly captivates the equity market; Higher inflation news chills Treasury trading; Options volume continues to set records;
– John’s Take profiles Stable, the winning innovator of the year at FIA Expo 2021;
– EQDerivatives’ Russell Rhoads explains the Nasdaq-100 Volatility Index in the Term of the Week.

U.S. Growth Slows, But Tesla Options Rev Up; Cboe Goes Nanos For Retail; John’s Take Previews Expo; Strategizing with Butterfly Spreads – The Spread – October 29, 2021

U.S. Growth Slows, But Tesla Options Rev Up; Cboe Goes Nanos For Retail; John’s Take Previews Expo; Strategizing with Butterfly Spreads – The Spread – October 29, 2021

– The U.S. economy sputtered to a 2% growth rate in Q3, but Tesla traders are unfazed; Cboe expands S&P 500 Index options offerings for retail with smaller options; ethereum gets a boost from new ETF expectations; 
– John’s Take previews next week’s in-person return of FIA Expo;
– Catching up with long butterfly spreads in the Term of the Week with Jermal Chandler.

Crypto Steals Headlines With Cboe-ErisX Deal, U.S. Bitcoin ETF; John’s Take Connects With ICE Mortgage Tech;  A Look at Cash-Secured Puts – The Spread – October 22, 2021

Crypto Steals Headlines With Cboe-ErisX Deal, U.S. Bitcoin ETF; John’s Take Connects With ICE Mortgage Tech; A Look at Cash-Secured Puts – The Spread – October 22, 2021

– Crypto edges into the mainstream with Cboe-ErisX acquisition announcement, first-ever bitcoin U.S. ETF debut; SEC’s GameStop study a reflection without regulation;
– John’s Take reviews the data-driven mortgage experience with ICE Mortgage Technology;
– Are you bullish on a stock? The Term of the Week looks at a cash-secured put strategy with Jermal Chandler.

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