| January 09, 2023 | | | | | Jeff Bergstrom
Editor
John Lothian News | |
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| | | | Lead Stories | | | Higher Rates and Tech Selloff Fuel Options Boom
Eric Wallerstein - WSJ
Investors trying to capitalize on higher interest rates and the deep selloff in big technology stocks are stoking a flurry of activity in the options market.
Popular stocks such as Amazon.com Inc. and Nvidia Corp. increase; green up pointing triangle lost about half of their value in the past year, raising the worth of some options tied to those shares. Their share declines have been much steeper than many investors wagered, creating a mountain of deep in-the-money put option contractsâor those that allow investors to sell the shares at a price that is now far above current levels.
/jlne.ws/3vQUN2W
Stock valuations are still high, and that suggests the market has yet to bottom and could fall as much 30%, Bank of America says
Matthew Fox - Business Insider
The bank said valuations are still too high for the stock market, which means a bottom has yet to be reached for stock prices.
"The Samp;P 500 still screens as statistically expensive vs. history on 17 out of 20 of the measures we track, Bank of America's Savita Subramanian said. Ahead of prior market bottoms, the index screened as expensive on just four measures, on average.
/jlne.ws/3Grzw4D
Column: Funds plant record CBOT soymeal bets; corn and soy longs remain intact
Karen Braun - Reuters
Money managers began 2023 with their most bullish ever stance in Chicago-traded soybean meal, and their heavier corn and soy selling in the year's first session was outdone by ample buying in the final days of 2022.
In the four-day week ended Jan. 3, money managers boosted their net long position in CBOT soybean meal futures and options to a record 141,877 contracts, up nearly 12,000 on the week, according to data published Friday by the U.S. Commodity Futures Trading Commission.
/jlne.ws/3inya35
Column: Hedge fund petroleum buying paused over year end
John Kemp - Reuters
Rallying oil prices ran out of steam just before the end of the year as investors turned cautious after two weeks of heavy petroleum buying.
Hedge funds and other money managers sold the equivalent of 12 million barrels in the six most important petroleum-related futures and options contracts over the seven days ending Jan. 3.
/jlne.ws/3CzIJa2
| | | | | | Exchanges | | | Miami International Holdings Reports Trading Results for December and Full-Year 2022; MIAX Exchanges Set Multiple Volume and Market Share Records
MIAX
Miami International Holdings, Inc. today reported December and full-year 2022 trading results for its U.S. exchange subsidiaries - MIAX , MIAX Pearl and MIAX Emerald (together, the MIAX Exchange Group), and Minneapolis Grain Exchange (MGEXâ¢).
/jlne.ws/2K3gU18
SGX Group to report 1H FY2023 results on 9 February 2023
SGX
Singapore Exchange (SGX Group) is reporting its half year (1H) results for Financial Year 2023 (FY2023) before the market opens on 9 February 2023.
/jlne.ws/3GvstIe
Euronext announces volumes for December 2022
Euronext
Euronext, the leading pan-European market infrastructure, today announced trading volumes for December 2022.
/jlne.ws/3IzjI2H
| | | | | | Moves | | | MarketAxess Promotes Chris Concannon to Chief Executive Officer; Richard M. McVey to Become Executive Chairman
MarketAxess
The Board of Directors of MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income securities, and the provider of market data and post-trade services for the global fixed-income markets, today announced that, effective April 3, 2023, Richard M. McVey, currently Chairman and Chief Executive Officer, will become Executive Chairman and Chris Concannon, currently President and Chief Operating Officer, will be promoted to Chief Executive Officer. Mr. Concannon will also continue to serve as a director on the Company's Board.
/jlne.ws/3ZnlM3B
****** Chris Concannon's move to MarketAxess from Cboe is looking better all the time.~JJL
| | | | | | Strategy | | | TSLA Open Interest
Cboe (Video)
In today's #Vol411, Joel Hawthorne @louiswinthrop reviews #optionstrading activity from Friday (the most active day of the young new year) and previews some key economic data releases. $TSLA $VIX $SPX
/jlne.ws/3IBxwtp
| | | | | | Education | | | OIC 2023 Educational Series: Options Basics, Options Pricing and the Greeks
The Options Industry Council (OIC)
As a new year begins,OICSM is proud to announce it will be providing even more educational sessions for investors over the coming months. Beginning with the first quarter of 2023, OIC has two webinars planned for each month of the year - that means six brand new events per quarter and double last year's offering.
/jlne.ws/3GgxAMu
| | | | | | Miscellaneous | | | How OCC's Process Improvement of the Year Award Transformed One Colleague's Career
OCC
In 2021, OCC's Business Engineering & Strategy team created its Process Improvement of the Year Awards to recognize outstanding work in designing and implementing process improvement concepts that help make OCC more effective and efficient. One of 2021's winners, Betty Ragan, submitted an entry for the awards unaware of the major impact it would have on her career.
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| | | | 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
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