COMMENTARY & INSIGHT

Joe O'Neill

When Joe O’Neill Went Hollywood: “Trading Places” 30 Years Later
MarketsWiki.tv

Joe O’Neill has been around the futures markets since 1970. If you stick around long enough, you will have seen just about everything. Such was the case in 1983 when he was proposed with the idea of filming a movie, “Trading Places” at the New York Board of Trade. Now celebrating its 30th Anniversary, “Trading Places” is still considered the go-to movie when anyone in the industry talks about the futures markets, even if the floors ain’t what they used to be. O’Neill spoke with JLN editor-at-large Doug Ashburn about the making of “Trading Places,” how true the film is to real life and also shared some behind-the-scenes stories about the movie.

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LEAD STORIES

The VIX Term Structure Suggests Anxiety is Prevalent
Adam Warner – Schaeffer’s Investment Research
By most standards, the market has acted very well this year. But of course, we don’t rally every single day. In fact, the market actually declined last week, hard as that is to believe.
http://jlne.ws/148s6Zo

DEUTSCHE BANK: Stock Market Confidence Is A Bit Too High, And We Don’t Know What’s Going To Happen Next
Sam Ro – Business Insider
With the stock market just below its all-time closing high, investors and traders want to know what’s next.
Deutsche Bank’s David Bianco thinks the S&P; 500 is likely to slip to 1,675 by the end of this year before surging to 1,850 by the end of 2014.
But in the near term, he’s “uncertain.”
http://jlne.ws/148sqaz

The Treasury Bond Market Could Get Ugly Between Now And September 19
Matthew Boesler – Business Insider
The Treasury market has cooled off substantially since the epic sell-off and attendant rise in yields that sent volatility soaring to multi-year highs in May and June as traders have left Wall Street for summer vacation and trading volume has fallen to its lowest levels since Christmas break.
http://jlne.ws/148p8E8

SPX, VIX Spinning Wheels….to Where?
Mark Sebastian – The Options Insider
There are two main ways to correct.  One comes with a drop in the underlying price of the market.  This is something we saw in June when the market fell over 5% from the top.
http://jlne.ws/148qjn8

Videocast: VIX traders zero in on 13
optionMONSTER
http://jlne.ws/148rP8J

EXCHANGES

Nasdaq to take on greater policing role on its stock exchange
John McCrank – Reuters
Nasdaq OMX Group Inc plans to assume a greater role in the policing of its U.S. stock exchange, according to a regulatory filing, in a move that follows calls by Wall Street for an end to the self-regulatory status of exchanges.
http://jlne.ws/148nbHS

REGULATION

Feds digging deeper into commodities-manipulation investigation
New York Business Journal
The Commodity Futures Trading Commission has subpoenaed a metals warehousing firm as part of an inquiry into possible commodities manipulation, according to a report by Reuters.
http://jlne.ws/148nJgW

U.S. regulator opposes fast-track CFTC markets policing
Douwe Miedema – Reuters
The U.S. derivatives regulator needs to better explain how it goes about cracking down on wrongdoers, one of its commissioners said on Monday calling on Congress to conduct a full review.
http://jlne.ws/148opTJ

CFTC Harmonizes CPO Compliance Requirements With SEC
Joe Mont – Compliance Week
The Commodity Futures Trading Commission on Tuesday issued a final rule that allows commodity pool operators dually registered with both it and the Securities and Exchange Commission to rely on the latter’s disclosure, reporting, and recordkeeping compliance requirements.
http://jlne.ws/148qXRJ

OPTIONS EDUCATION

A Long-Term Look at the S&P; 500 Volatility Risk Premium
The Options Insider
Some clients here and readers on Twitter asked for a long-term look at the relationship between the  historical volatility of the S&P; 500 and the implied volatility of SPX options.
http://jlne.ws/148rjb4

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