| July 09, 2021 | | | | | Jeff Bergstrom
Editor
John Lothian News | |
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| | | | Observations & Insight | | | MarketsWiki Education's World of Opportunity 2021 Virtual Event Announced For July 21
John Lothian News is pleased to announce a 2021 virtual event for the MarketsWiki Education World of Opportunity series. The one-day, 60-minute event will be held on Wednesday, July 21 from 1:30 to 2:30 p.m. CDT.
The online only event is FREE to registered participants. Click HERE to register.
The event includes two live presentations. The first is a fireside chat between JLN Publisher John Lothian and Cboe Global Markets Executive Chairman & CEO Ed Tilly. The second presentation will be by Ed Haravon of Get Real about how to use virtual reality in displaying and using data. Haravon will take us deep into the cutting-edge world of virtual reality data and its possibilities.
Additionally, other videos will be shared with the attendees for viewing at their convenience. The first additional video will be a presentation by OCC Executive Director of Talent Acquisition Andre Buckles. Buckles will discuss working for a company from a work-at-home or remote location.
The second video will be an interview with Robin Wood, a full-time compliance examiner at the National Futures Association who is a former summer intern from the Greenwood Project. She will discuss the Greenwood Project and how it prepared her for the opportunity to join the NFA full time.
The World of Opportunity series is aimed at interns, college students, new employees or anyone who is interested in a career in the financial markets. Our goal is to educate and inspire the next generation of industry professionals through insightful presentations by industry leaders.
| | | | | | Lead Stories | | | Individual Investors Take Aim at Carver Bancorp as Next Short-Squeeze Target
Caitlin McCabe - WSJ
Individual investors on the hunt for the next stock-market win piled into Carver Bancorp Inc., sending shares of the banking-services company on a wild ride Thursday before finishing 107% higher for the day.
Carver Bancorp's stock price soared throughout the day, rising as much 267% to hit $38.87, as individual investors scooped up shares in hopes of squeezing bearish investors out of the stock. The stock closed Thursday at $21.89, its highest closing level in more than 10 years.
/on.wsj.com/3hQfAMM
Volatility ETFs Spike as Economic Concerns Fuel Market Fear
ETF Trends
The CBOE Volatility Index hit its highest level in over two weeks Thursday, as equity markets reeled and investors turned risk off in face of growing concerns over the market's economic outlook.
On Thursday, the iPath Series B S&P 500 VIX Short Term Futures ETN (NYSEArca: VXX) and ProShares VIX Short-Term Futures ETF (NYSEArca: VIXY) both advanced 6.9%. Meanwhile, the CBOE Volatility Index climbed 17.6% to 19.05.
/bit.ly/3e2aBrf
Stocks Climb, Poised for Records
Caitlin Ostroff and Gunjan Banerji - WSJ
Major U.S. stock indexes staged a strong rebound Friday, recouping losses from the prior session and putting them on track for records and slim weekly gains.
The S&P 500 added around 1%, following its worst one-day retreat since June 18, and was on track for a fresh closing high. The Dow Jones Industrial Average added around 426 points, or 1.2%. The Nasdaq Composite gained 0.8%.
/on.wsj.com/3hULUhf
U.S. Treasury yields fall as economic worries percolate
Chuck Mikolajczak - Reuters
U.S. government bonds yields continued their recent decline on Thursday, with 10-year Treasury yields touching their lowest levels in nearly five months as investors' worries persist that the best part of the economic recovery may be over. The yield on the 10-year note is on pace to decline for an eighth straight session, marking the longest streak since a nine-session drop that ended on March 3, 2020, as the COVID-19 pandemic in the United States was gaining speed.
/reut.rs/3hU4GFF
Melvin Struggles to Shake Reddit Attack With 46% Loss So Far
Katia Porzecanski, Hema Parmar, and Katherine Burton - Bloomberg
Gabe Plotkin's Melvin Capital Management ended the first half of 2021 down 46% as the hedge fund struggled to bounce back from a vicious attack by Reddit traders on its short positions.
The firm, which plunged in January as its bearish bets on companies including GameStop Corp. and AMC Entertainment Holdings Inc. were besieged by a retail-driven buying spree, was up about 1% in June, according to people familiar with the matter. Melvin now calculates its loss in the first month of the year at almost 55%, compared with a preliminary estimate of 53%, the people said.
/bloom.bg/3yBvwZK
| | | | | | Exchanges | | | Eurex ESG derivatives OI over 3.5 billion EUR
Eurex
Strong volume growth with five NEW records in our ESG derivatives:
1. Daily traded contracts over 168K; 2.Monthly traded contracts over 390K; 3. Quarterly traded contracts 720K; 4. Yearly traded contracts June 2021 exceeds already 2020 of 1.28 million; 5. Month end Capital Volume Open Interest at 3.5 billion EUR
/bit.ly/3xzFfzO
| | | | | | Regulation & Enforcement | | | SEC Enforcement: A Review of 2Q21 (Part II)
Lexology.com
This is the second part of a two part series reviewing the results of the Commission's enforcement program for the first two quarters of 2021. The first part is available here.
During the first half of 2021 the Commission brought a series of significant actions that do not fit into one of the top four categories of actions filed. Examples of those cases are shown below.
Other significant cases
Binary options: SEC v. Spot Tech House, Ltd., Civil Action No. 2:21-cv-00632 (D. Nev. Filed April 16, 2021). The action names as defendants the company, Malhaz Pinhas Patarkazishville and Ran Amiran. Each of the Defendants is based in Israel.
/bit.ly/3e28ROs
| | | | | | Strategy | | | Bullish on Ethereum's London hard fork? Here's an options strategy pro traders use
Ethereum's upcoming London hard fork could provide a perfect entry point for bullish ETH options traders.
Marcel Pechman - Cointelegraph
The Ethereum network will undergo a major upgrade on Aug. 4, as the long-awaited London hard fork is expected to launch at block 12,965,000. The transition is part of a roadmap leading to the Ethereum 2.0 release, which aims to migrate the network to a proof-of-stake consensus mechanism.
By no longer depending on the intense energy-consumption mining, the main goal is to drastically increase the network's capacity by using parallel processing, also known as sharding.
/bit.ly/3hspeWI
What an Implied Volatility Crush is and How to Avoid it
Schaeffer's Research
A volatility crush is the term used to describe the result of implied volatility exploding once the market opens higher or lower than where it closed the previous day. For new investors, implied volatility almost always seems to rise after a stock moves in either direction. It is not that unusual for this spike in volatility to occur even when there is a small movement in the stock price. What happens next is known as a "volatility crush" as the option moves through its cycle and back towards the price of the stock.
/bit.ly/3wy94PQ
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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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