The Spread: Moonshot



Welcome to The Spread, I’m Matt Raebel.

So, what happens when $6 billion worth of bitcoin options expire? Well, we’ll find out later today. So far the most common open positions on the Panama-based exchange Deribit, where the majority of bitcoin options are traded, are for call options with April 30th expirations and $80,000 strike prices, which are about $19,000 higher than bitcoin’s all-time high set a couple weeks ago. A lot of traders are betting on bitcoin “mooning” – which is crypto lingo for the price spiking upwards – more like “moonshot,” am I right?

Anyway, speaking of the price of the underlying flying straight to the moon – GameStop’s annual report came out this week. The report said that the gaming retailer’s stock has been especially volatile lately; heh, no kidding. It also referenced Reddit’s so-called “retail army” of independent traders; in a subsection listing risk factors to the company’s stock, the report mentions “comments by securities analysts or other third parties, including blogs, articles, message boards and social and other media.” I guess they didn’t want to have to type out “Roaring Kitty”’s Reddit username. Google it if you really want to know.

Trading Technologies, or TT, seems to have made a pretty big deal, because TT’s platform has linked up with Athens. No, that’s not the name of some fintech startup; I mean Athens, Athens, as in the place where the Parthenon is. TT announced this week that clients can now use its platform to trade derivatives products listed on the Athens Stock Exchange, including all stock and index options.

Last up this week, JJ Kinahan, chief market strategist and managing director of trading and education at TD Ameritrade, and Peter Maragos, co-founder and CEO of Dash Financial Technologies, have joined the OCC’s board of directors. Kinahan holds positions in numerous organizations in the securities industry besides his positions with TD Ameritrade and the OCC, including serving on Cboe’s advisory board. Maragos has a long history of working with financial technology and has received tons of honors over the years, including making Financial Technology Report’s Top 50 Financial CEOs in 2020. Together, they’re expected to provide useful insight for the OCC’s board of directors.

Suzanne Cosgrove and Thom Thompson covered the Eurex Derivatives Forum this week, which you can check out at John Lothian News dot com. Check out our site and follow us on Twitter, LinkedIn and Facebook for more news and musings. Until next time, stay safe and happy trading.



Bitcoin holders expect high volatility as roughly 100,000 BTC options contracts expire Friday
Sarah Tran – FX Street

Bitcoin Options Traders Position for Gains (to $80K?) in Historically Bullish April
Omkar Godbole – Coindesk

Gamestop Annual Report for the fiscal year ended January 30, 2021

Trading Technologies Launches Connectivity to Athens Stock Exchange for Derivatives Trading Via the TT Platform
Trading Technologies

TD Ameritrade and Dash Financial Technologies Executives Join OCC Board of Directors

John Lothian Newsletter

Today’s Newsletter

SEC GameStop Report Debunks Conspiracies, Backs Gensler Plan

SEC GameStop Report Debunks Conspiracies, Backs Gensler Plan

First Read $53,806/$300,000 (17.9%) ++++ FIA Tech's Atlantis Ready for More Options Brokers John Lothian - John Lothian News Give-up Settlement and Payment System Improves Efficiency, Speeds up Payments FIA Tech is trying to solve a problem for options brokers with a...

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Past The Spread Episodes

Options volatility bounces back on Evergrande, Fed taper talk; John’s Take previews FIA’s IDX; How does the VIX calculate vol? – The Spread – September 24, 2021

Options volatility bounces back on Evergrande, Fed taper talk; John’s Take previews FIA’s IDX; How does the VIX calculate vol? – The Spread – September 24, 2021

– Options markets see spike in volatility, but ride out China Evergrande Group’s troubles, Federal Reserve taper expectations;
– John’s Take gives a sneak peek at the FIA IDX 2021 conference and talks about Bryan Harkins and Wall Street Rides FAR;
– What does the VIX Index measure? A tutorial by Russell Rhoads, head of research at EQDerivatives, in the Term of the Week.

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