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Το περιεχόμενο παρέχεται από το The Options Insider Inc. and The Options Insider Radio Network. Όλο το περιεχόμενο podcast, συμπεριλαμβανομένων των επεισοδίων, των γραφικών και των περιγραφών podcast, μεταφορτώνεται και παρέχεται απευθείας από τον The Options Insider Inc. and The Options Insider Radio Network ή τον συνεργάτη της πλατφόρμας podcast. Εάν πιστεύετε ότι κάποιος χρησιμοποιεί το έργο σας που προστατεύεται από πνευματικά δικαιώματα χωρίς την άδειά σας, μπορείτε να ακολουθήσετε τη διαδικασία που περιγράφεται εδώ https://el.player.fm/legal.
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Together, we're redefining what it means, looks and feels like, to be doing "woman's work" in the world today. With confidence and the occasional rant. From boardrooms to studios, kitchens to coding dens, we explore the multifaceted experiences of today's woman, confirming that the new definition of "woman's work" is whatever feels authentic, true, and right for you. We're shedding expectations, setting aside the "shoulds", giving our finger to the "supposed tos". We're torching the old playbook and writing our own rules. Who runs the world? You decide. Learn more at nicolekalil.com
The Long & Short of Futures Options
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Το περιεχόμενο παρέχεται από το The Options Insider Inc. and The Options Insider Radio Network. Όλο το περιεχόμενο podcast, συμπεριλαμβανομένων των επεισοδίων, των γραφικών και των περιγραφών podcast, μεταφορτώνεται και παρέχεται απευθείας από τον The Options Insider Inc. and The Options Insider Radio Network ή τον συνεργάτη της πλατφόρμας podcast. Εάν πιστεύετε ότι κάποιος χρησιμοποιεί το έργο σας που προστατεύεται από πνευματικά δικαιώματα χωρίς την άδειά σας, μπορείτε να ακολουθήσετε τη διαδικασία που περιγράφεται εδώ https://el.player.fm/legal.
The Long and Short of Futures Options is your official source for futures options information. From unusual trading activity to cutting-edge education and trading strategies, you'll find it all on The Long and Short of Futures Options.
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Manage series 169905
Το περιεχόμενο παρέχεται από το The Options Insider Inc. and The Options Insider Radio Network. Όλο το περιεχόμενο podcast, συμπεριλαμβανομένων των επεισοδίων, των γραφικών και των περιγραφών podcast, μεταφορτώνεται και παρέχεται απευθείας από τον The Options Insider Inc. and The Options Insider Radio Network ή τον συνεργάτη της πλατφόρμας podcast. Εάν πιστεύετε ότι κάποιος χρησιμοποιεί το έργο σας που προστατεύεται από πνευματικά δικαιώματα χωρίς την άδειά σας, μπορείτε να ακολουθήσετε τη διαδικασία που περιγράφεται εδώ https://el.player.fm/legal.
The Long and Short of Futures Options is your official source for futures options information. From unusual trading activity to cutting-edge education and trading strategies, you'll find it all on The Long and Short of Futures Options.
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×We took a look a the best episodes from 2016 to pull our favorite segments and interviews, including: Akuna Capital at FIA Boca Derek Sammann at FIA Expo with Nick Howard Brexit; post-Election with Blu Putnam Weekly Wednesday with Tim McCourt
In this episode, we feature Blu Putnam, Chief Economist, CME Group. He discusses: Looking back at pre- and post-election volatility environments: A Tale of Two Volatility Regimes. Was the ferocity of the selloff in the overnight session surprising? Were there any interesting quirks or trends in CME options and futures volume that day/night? An overview for volatility going forward Nine Challenges Facing Markets Post-U.S. Election Listener Mail: Listener questions and comments Options#QuestionOfTheWeek: Commodities are capturing a lot of attention and generating a lot of volatility. What's your option of choice? $GLD / Comex Gold $USO / $WTI $TLT / ED / 10YR EUR/USD, GPB/USD Question from Alan McKay: I am starting my undergrad next year and I am thinking about majoring in economics with a concentration in derivatives. Any suggestions for programs? Question from Invern3ss: I have a theory regarding why WTI Weekly options don’t trade as much as the monthlies. Could it be because the vast majority of customers are using the product to hedge existing long positions by purchasing puts. So a weekly would not be suited to their needs since it would just waste too much money through decay. Thanks for your great network. Please keep the shows coming. I’m a proud listener, newsletter subscriber, website reader and app user.…
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The Long & Short of Futures Options

1 The Long and Short of Futures Options: Futures Options Trends, Surprises and Volatility 1:07:27
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Coming to you from the Futures Industry Conference in Chicago, Mark is joined by Nick Howard, founder of QuikStrike and Derek Samman, CME Group Senior Managing Director and Global Head of Commodities Options and Products. They discuss: The great year that CME has been having in 2016 This outsize growth was fueled by options What trends are we seeing in futures options? Are retail traders becoming more active in futures options? The trend towards trading on microevents The short-duration expiration options. Will there be daily expiration options? Crude! Puts are still very expensive Natural gas options business grew 40% year-over-year Soybeans driven by volatility and volatility skew 72% of ag options are trading electronically Managing options flow outside of seasonal patterns Metals! It's been an interesting year. Gold call bias...the rent is cheap Don't forget the less sexy metals What can we look forward to from CME in the next year?…
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The Long & Short of Futures Options

On this episode, Mark is joined by Blu Putnam, Chief Economist, CME Group and Tim McCourt, Global Head of Equity Products, CME Group. They discuss: What are some potential drivers of market volatility? Paper: Equity Volatility in 2016 and Beyond Paper: Calm Before the Volatility Storm in Equities ? What are some potential drivers of volatility in the near future? Earnings season The election The Fed? What impact, if any, will these have on the broad equity markets? Rise of the Weeklies Why launch a Wednesday weekly? What additional value does this product bring to customers? Listener questions: Discussing what you want to know Question from Vegs - I am seeing lots of big fat options OI tied to the big ES 2200 strike. Does this mean big traders are betting that the S&P will rally past 2200? Can all of this open interest have the net effect of forcing the S&P to that strike at expiration? Do you view this open interest solely coming from pros or are retail reflected there as well? Question from TCal - I am a somewhat new oil options trader primarily in WTI. Over the last few months I have noticed that the majority of volume trades in the front month. This is particularly true in active weeks such as during the OPEC meeting. I have had success buying weekly options going into these events. But in these same active periods I have not seen the surge of activity in the weekly WTI that I expected. This is surprising given the similar interest in weeklies in most other option products. Is this a function of the large institutional presence in WTI options? Perhaps there is a nuance of the product that I am missing that is not conducive to weeklies? I would appreciate your insight into this. Thank you for producing so much great free programming on your network.…
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The Long & Short of Futures Options

In light of the CME's Metals Conference, Mark takes the show on the road and brings together a New York-style round table including: Nick Howard: Founder of Bantix Technologies Miguel Vias: Senior Director and Head of Precious Metals, CME Group Erik Norland, Senior Economist, CME Group They discuss: All things precious metals, and Erik's paper " Gold Storm on the Horizon " What has happened to gold skew post-Brexit? What is going on in gold vol? What will drive it higher? Silver: the stepchild to gold? Eriks' most recent paper, " Gold and Silver: Fed Rake Hike vs. Mine Output " The forward curve does not allow for any Fed increases The relationship between gold and silver The new metals-related products coming soon from CME…
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The Long & Short of Futures Options

1 The Long and Short of Futures Options: Futures Options And Volatility 1:07:59
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Host: Mark Longo, Founder & CEO, Options Insider Media Group Guests: Dan Passarelli, Founder - Market Taker Mentoring Todd Rich, President - OptionMonster Media Sarah Linane, Sr. Futures Specialist - OptionsHouse & Aperture Group, LLC Topics On this episode of LSFO we take a deep dive into all things volatility. We explore the impact of volatility and explore options trading strategies in the following product categories: Index Options Crude Oil Precious Metals Ags and more... Listener Mail: Listener questions and comments Question from AL08: IV or HV - Which is most important? Which should I pay attention to? Question from Cristoff: Do you guys only trade options or do you trade futures too? How do you decide when to use which? Question from Tim: Size aside, what are the other primary benefits of trading ES options instead of SPY?…
In this epsiode, we have two special guest hosts: Erik Norland, Senior Economist at CME Group, and Scott Shellady, Senior Vice President of Derivatives at TJM Investments. They discuss: The FOMC meeting and not raising rates after a disappointing non-farms number The different employement numbers and how they are derived The likelihood of rate hikes for the rest of the year, and into 2017 Brexit: will they? Won't they? Is Brexit just another Y2K? Where is the economic growth going to come from? An addendum to last month's discussion on soybeans…
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The Long & Short of Futures Options

Today Mark is joined by Nick Howard, Managing Principal of Bantix Technologies, Eric Norland, Senior Economist at CME Group, and John Nelson, President of the Applied Research Company. They discuss: The different kind of soybean products The big move in beans and why that happened The swing from oversupplied to not Soybean hoarding in Argentina Are volatility and price correlated? What about China? The favorable conditions for a risk reversal What does the data show? The impact of el nino and la nina on soybean prices The phenomenon of el nino and la nina A well-timed report on the new research from CME How will the Fed impact gold? Gold volatility and its correlation to relative volatility And more…
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The Long & Short of Futures Options

1 The Long and Short of Futures Options: A Deep Dive into Futures Options Research 1:00:22
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In this episode, Mark is joined by Andy Nybo, the head of research and consulting at the TABB Group, and Jared Woodard of Condor Options. They discuss: The recent report released by the TABB Group and CME: Options on Futures, Use Cases in Efficient Risk Management . The growth trajectory of the use of futures options Why are people using futures options rather than different products? Options flow in crude oil and related products The equity and index landscape relative to futures options The influx of retail investors into the futures options space The resurgence of interest rate instrument activity Interest in foreign exchange instruments…
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The Long & Short of Futures Options

In this epsiode, Mark beams in from sunny Boca Raton, Florida, where he was enjoying the FIA Conference. There, he was joined by Blu Putnam, Chief Economist at CME Group, and Mitchell Skinner, co-founder of Akuna Capital. They discuss: How it's been interesting to watch crude oil and gold What is driving volatility in both? Inventories are high, so people are doing a cash-and-carry What happens when there is high volatility? Last year's "Gold Storm on the Horizon" paper Revisiting the view on gold, espeically gold skew Looking for the trading range Ag trading and el nino / la nina The shift from pit to electronic trading in the ags What's happening in FX? What is going to hapen with the British vote to join the EU?…
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The Long & Short of Futures Options

Today, we are joined by Tom Boggs, Senior Director of Equity Options; Derek Samman, Global Head of Commodities and Options Products, and; Nick Howard, Founder and CEO of QuikStrike Looking Back at 2015: OCC 2015 cleared contract volume down 3% from 2014. A strong year for futures options. What kept futures options volume strong last year while overall equity options volume contracted? How is the current market turmoil impacting options trading/volume at CME? Which product categories are leading the charge so far in 2016. Spotlight on crude oil, WTI volatility skew, and put premium. Listener Mail: Listener questions and comments Question from JCanut - There is significant order flow in many weekly options products all the way into the final few days. Does this indicate there is potentially a market for daily listed options products? Would an exchange like CBOE or CME ever consider adding a daily options product to their lineup? Question from Mark C. - Great show on crude. Is the put premium still holding strong in WTI or is it going away?…
Today we are joined by Derek Samman, Global Head of Commodities and Options Products at CME Group. What to Know: Highlights from the last quarter at CME Group. Third-quarter 2015 average daily volume was 14.4 million contracts, up 7 percent from third-quarter 2014, and included record quarterly options average daily volume as well as double digit growth across all commodities product lines. Clearing and transaction fee revenues were $715 million, up 11 percent compared with third-quarter 2014. Market data revenue was $100 million, up 13 percent compared with the third quarter last year. Third-quarter 2015 total average rate per contract was 75.9 cents, down from 77.7 cents in second-quarter 2015, driven primarily by higher volume discounts as well as a sequential product mix shift from commodities to equity index products which capture lower fees.(Source: CME Group ) Q3 options volume reached a record level of 2.9 million contracts per day. We also saw the highest percentage of this business trading electronically, which reached 55 percent electronic during the quarter. One of the key drivers of our continued electronic options success is our investment in enabling more complex Options spreads to trade on Globex. In 5 Q3, we saw a record 45 percent of all Options spreads trade electronically, versus just 10 percent in 2010. And volume in the world's largest major options contracts, our Eurodollar options traded on Globex, jumped by more than 60 percent to a record 200,000 contracts per day in Q3, and reached 21 percent electronic versus 14 percent a year ago. (Source: CME Group ) What's on Your Mind? Listener questions and comments Brokers, symbols, and how to trade futures and futures options…
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The Long & Short of Futures Options

What to Know: The guest today is Jeff White, Senior Director of Energy Products What to Watch: Mark and Jeff discuss Calendar Spread Options (CSOs) What's on Your Mind? Listeners have their say Question from ADM -Are there any particular quirks or trading anomalies that you have noticed between options on commodity ETFs and traditional futures options? Maybe in the energies or in the ags? Thanks for your great programs.…
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The Long & Short of Futures Options

Today's guest is Erik Norland, Senior Economist at CME Group. What to Watch: Gold! Futures, to be specific. Erik's paper: Gold Storm on the Horizon . The impact and importance of volatility. The inevitable oil discussion and its correlation to gold. What about the Fed? What is on the horizon? Super contango.…
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The Long & Short of Futures Options

The guest this episode is David Hightower: Founder of the Hightower Report (http://www.futures-research.com/) David sat down with Mark to discuss a wide array of agricultural options strategies including: Corn Strategies(Strategies range from weakest to strongest) BUY 1 December Corn futures contract and BUY 2 May Corn short dated new crop (SDNC) just out of the money puts for around 8 cents each. The strategy allows the hedger to be fully priced ahead of the upcoming reports, and it also allows protection against possible bearish report news. And if a sharp break continues into early April, one or both of the puts could be lifted prior to April 24th expiration to essentially lower the base hedge price. Less Aggressive Strategy: With May Corn trading near $3.85, BUY 1 April Corn week 2 $3.85/$4.10 bull call spread for net premium of about 7 1/2 cents, and then SELL 1 April Corn week 2 $3.80 put for about 6 1/2 cents. Owning the week 2, right on the money call spread provides close - in price sensitivity for low cost, but the hedge is limited because the strike price for the short call position is only 25 cents higher. Selling the out of the money put further reduces the cost and leaves budgetary room for future risk coverage beyond this relatively short time frame. Limiting outlays into the first key pivot point of 2015 might allow for fresh hedges at lower prices. With December Corn trading near $4.09, BUY a December Corn $4.40 call for around 23 cents and SELL 1 May Corn SDNC $4.10 call for around 12 cents.This strategy offers long term protection with a chance to finance a portion of the hedge costs. The May SDNC calls have only 30 days until expiration, and they could see a significant loss in value if prices decline. They will also lose value in a sideways market. The long December Corn call position is the hedge in this case, while the short dated new crop call is a financing vehicle or a "hedge of the hedge." If the market continues to trend lower into the April 24th expiration, the hedger will have reduced the cost of owning the $4.40 call to just 11 cents. The December calls do not expire until November 20th. Macro Hedge-Using Soybeans as a Shield against Higher Corn Prices With November Soybeans trading near $9.57 and December Corn near $4.09, SELL a June Soybean SDNC $9.60 call for around 28 cents and BUY 2 June Corn SDNC $4.10 calls for a combined cost of around 31 cents. The net cost of the spread is minimal at only 3 cents. The hedger is attempting to collect call premium from a market that appears to have a potential to build significant supply and invest that premium in a market that could easily become tighter. If soybean acres increase sharply, corn acres will likely decline, which could lead to a dramatic tightening of corn stocks and higher corn prices. Soybeans Strategies(Strategies range from weakest to strongest) Minimal Hedge, Moderately Bearish Price View BUY 1 Week 2 April Soybean at the money call for around 20 cents (16 days coverage). The potential for huge ending stocks, heavy flow of South American, soybeans onto the global market and an expected adjustment higher in 2015 soybean plantings should increase the chance for prices to fall in the near future. Commercials and end users may want to postpone their prompt and forward purchases. This hedge strategy provides coverage against a bullish surprise for very little cost. The main drawback is the short duration. Slightly More Aggressive, Increased Sensitivity & More Time: BUY 1 May Soybean SDNC at the money call for around 20 cents (30 days coverage). Expectations for heavier planting acreage, increased South American export competition and residual knock-on from deflationary view should increase the odds of lower cash prices ahead. Expend minimal hedge call premium and secure some upside protection beyond the March 31st report and into the early planting window. More Aggressive Strategy - Attempt to Finance Forward Hedge Cost with Decay and Flat Price Weakness With November Soybean futures trading near $9.57, SELL 1 June Soybean SDNC $9.40 call for 38 cents (56 days coverage), and then BUY 2 November Soybean $10.40 calls for 32 cents each or 64 cents total (212 days coverage). Net premium paid 26 cents. Financing longer term calls with an aggressive short-term bearish play using short calls. If futures rally 50 cents in the coming month, the short SDNC call position will show a loss of roughly 15-17 cents, depending on time decay and volatility. On a 50-cent rally, the 2 November calls should appreciate roughly 40 cents in total. In short, this strategy offers moderate hedge coverage with reduced out of pocket expense and the chance to collect some premium using from the short-dated calls. To further reduce the cost of the hedge, traders could consider selling the April Soybean week 2 $9.40 puts for 7 1/2 cents, as soybeans are already down from the March highs and are somewhat oversold. SDNC Soybean Hedge/Ratio Back Spread With November Soybeans trading near $9.57, SELL 1 July Soybean SDNC $9.40 call for around 47 cents and BUY 3 July Soybean SDNC $10.00 calls for around 63 cents total. This initial delta is long about 40% of 1 futures contract. The strategy performs best if the market is weak in the next 30 days. As long as the short call remains in place, the hedge will remain sensitive into the middle of May, after which the short call component will reduce performance and increase risk. In the event of a surprise, extended rally, the hedge position could extend its sensitivity to the equivalent of almost 2 full futures contracts. This strategy has a low net out of pocket expense. It doesn’t perform well on a minor rally that comes to a halt, but it will reap windfalls if prices rally straight-away.…
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The Long & Short of Futures Options

Mark is joined live at FIA Boca by Derek Samman, Global Head of Commodities and Options Products at CME Group. What to Know: Volumes are through the roof on options. Infrastructure investments are paying dividends. February had over 300,000,000 contracts trade, over 87% of which were electronic. 3,000,000 options contracts traded. Electronic traction is gaining steam. What’s going on with crude? Great timing with weekly crude options, which are getting good adoption. There are also weeklys in interest rates and forex. Volatility has come rushing back into the market. The Swiss Franc black swan. What to Watch: What does CME group have to sate the desire for oil? You can use the RFQ function on Globex for a non-standard spread. The recent launch of the CME iPad app. What’s on Your Mind: Listener comments and questions Why did CME Group close the futures pits, but not the options pits? Oil-based ETFs versus oil futures options Monthly spread options in WTI…
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The Long & Short of Futures Options

Mark is joined live at FIA Boca by Blu Putnam, Chief Economist at CME Group. They discuss: What does a chief economist do at CME Group? Update on the paper Blu wrote about gold demand What does Blu think the Fed will do in 2015? The difference between the Fed under Yellen versus Bernanke What about QE? Debunking the Phillips Curve The impact of non-farms Crude oil craziness…
In this special edition of the Long and Short of Futures Options, Mark is joined by Derek Samman, Group Global Head of Commodities and Options Products at CME Group. They discuss: Structural changes at CME Group Record volume in the options complex in September, up 20% year-over-year Growth in electronic options trading Futures and options set an all-time record for open interest on September 11 All-time record volume in FX options as precipitated by the Scotland vote The return of volatility Enthusiastic uptake in the interest rates complex, especially around Fed announcements Updates from the ags complex – 40% growth year-over-year Bringing more participants to the market And more…
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The Long & Short of Futures Options

Today's guest is David Reif, Senior Director of Interest Rate Products What to Know This is a hot time for rates. We're seeing record levels of volatility & interest around the globe for these products. 30 year treasury yields hit a 15month low around 3.10% on Aug 15 approaching Janet Yellen's comments. This is fertile ground for rates products. What volume and activity trends are you seeing in the CME interest rate complex? What's New? Overview of upcoming launch of Eurodollar bundle futures and options. Overview of FedWatch and other CME web tools for rates traders What to Watch: Hints/teases for upcoming products/trends/developments in the interest rates complex? What's On Your Mind? Email from Steve Syler, Oklahoma City, OK. Question for LSFO program. Hello! Thank you for taking the time to create a program aimed at retail futures options traders. We're a small but growing audience. There needs to be more content aimed at us. Question from Tasco. Am I the only one who finds futures and futures options symbols impenetrable? Is there any reason major platforms like Globex can't quote a product in real English like "December 2014 thirty year treasury bond future" etc. I have a heck of a time finding the products I want to trade because I'm forced to wade through so much arcane minutia with Globex and through my broker. Question from Neal Honen. Are interest rate futures and options primarily pit traded or have they migrated the majority of their volume to electronic platforms like Globex?…
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The Long & Short of Futures Options

What to Know: Deliverable Interest Rate Swap Futures. What are they? The distinction between swaps and swap futures. What are the advantages of swap futures over swaps? Why they're being embraced now. Who is the end user for DSFs? What to Watch: Ways to create the most margin and capital efficient platforms, including DSFs, and cross-margining. What's on Your Mind? Listener questions and comments What is a SEF? How is the volume on CME's SEF?…
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The Long & Short of Futures Options

In this episode, Mark is joined by Scott Warren, Senior Managing Director of Equity Products and Index Services at CME Group. What to Know: Overview of volume trends, working with clients to find efficiency in options on futures, volatility and its impact on the market, retail growth. Smaller-size, smaller-duration products. Weekly options and their use. Products on the Nikkei. The NASDAQ growth story. Client demand and new tools. Shining light on margin. What's on Your Mind? Listener question about index expiration.…
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The Long & Short of Futures Options

The Long and Short of Futures Options 16: All about the Ags In this episode, Mark is joined by Tim Andriesen, Managing Director of Agriculture and Alternative Investment Products at CME. What to Know: 2013: a year in review, CME ags complex in 2013. Shorter-dated alternatives for producers. The use case for weekly options. What’s New: Intra-crop spread options, and the seasonality of the crop contracts. Kansas City wheat update. Request for cross functionality. What to Watch: The recent push for crop/ag insurance. What’s on Your Mind: Trading hours for CME group ags Long-dated contracts The relationship between ETF products and the futures/options contracts on the ags…
Today's Guest: Derek Sammann, Senior Managing Director of FX, Metals and Options Solutions at CME Group. What To Know: Lets look back at 2013 from an options perspective. Where do you think all the growth in your platform stemmed from? Tell us about your percentages of electronic products you offer? Tell us about your FX platform. Tell us about the launch of your Asian and Indian FX offerings. Tell us some of the interesting trends you saw from a metals perspective in 2013. Has the driver for the most growth been in near-term/short duration contracts? What kind of developments did you see in rates in 2013? What's New: What are you working on to capture more activity in short duration contracts? What are you doing to increase activity in weekly spreads? Give us an update on the FedWatch and Open Interest profile tools. Tell us about your E-micro futures products. What to Watch: What kind of improvements are you working on to increase spread functionality? What do you have down the pipe to bring in retail traders? What kind of effect to you think increasing electronic access have on retail customers? What new products and developments do you have that will help foster grow in the interest rates complex? What's on Your Mind: Listener questions and comments Question from Janet Tong, St. Paul, MN - What does the CME Group think about the growing interest in binary option products? Does the CME Group have any plans to enter this marketplace? Question from VOL260 - CME Group has volatility indices for gold, oil and ags. When will you launch a Dollar, Yen or Euro VIX?…
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The Long & Short of Futures Options

Mark sits down with Blu Putnam, Managing Director and Chief Economist of CME Group to discuss gold, currencies, the Fed, oil, and high-frequency trading.
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The Long & Short of Futures Options

Today's guests are Dave Reif and Tom Boggs What to Know? What has been going on in the equities complex at CME Group? How have short duration products become so popular? What's New: What's coming down the pike in the VIX 10-year product? Jumbo SPY contracts What to Watch: How do you spark volume in interest rates? Can CME ever have a daily product? What's on Your Mind: Listener questions…
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The Long & Short of Futures Options

Once again, Mark is joined by Dave Reif, Sr. Director of Interest Rate Products, and Tom Boggs, Sr. Director of Equity Products. What to Know: Option growth in index options taking off. Now there are 59 expirations in the year. Increased trading in both Globex and on the floor.Not seeing any demand in micro equity contracts.There is also a big push in the weekly treasury options. Added a mid-curve option. How did China slowdown impact CME products? Explosion of VIX and its impact on CME products. What's New: Taking the VIX methodology and applying it to the 10-year. When will it be tradable? Quick Strike option pricing and analysis tool. Daily volatility surface report. Both are free on the CME website at cme.com/options. Jumbo SPY discussion. What to Watch: How to spark volume while macro products are evolving. Will there be a daily expiration option to react to events? What's on Your Mind: We answer listener questions They address: ETFs vs. futures, treasury options at competing exchanges,…
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The Long & Short of Futures Options

Mark is joined by Tim Andriesen and Jeff Lewandowski to talk about the seasonality of agriculture products. What to Know: Weather implications impacting the planting season.It's like Goldilocks, not too much rain, not too little.We're way late getting grains into the ground, which is making a lot of buzz in the industry, as well as questions about future inventories. Short-duration options.New crop, old crop. The role volatility plays in the pricing of the contracts. What to Watch: Looking to provide Chicago-style wheat products on those at the KC Board of Trade. Options landing page on the CME website. What's on Your Mind: Answering listener questions What is CME's opinion of ag ETFs? Is CME going to get more into ag volatility?…
Today's guests are Craig Leveille, Executive Director, FX Products, and Jeff Lewandowski, CTA, Foremost Trading What to Know:What you should know about CME's FX Products Who is the typical customer of CME Group's FX products? How have trends impacted the volume and trends in the Euro option products in recent months? What are some of the hot trends right now in you other products? We've seen extremely low levels of volatility on the equity front. Are we seeing similar volatility reductions in the FX realm as well? Were there any FX option products/spreads/strategies that really resonated with your clients? What's New: USD/CNH (offshore Chinese Renminbi) futures launched February 25, 2013. Mini/short-duration products are all the rage, any new upcoming products in that category? Any other major FX product launches on the horizon? Do you ever think we'll operate in a world where customers are able to execute via the greeks across a broad spectrum of products What to Watch: Are we all waiting for the next shoe to drop in the Eurozone? What's on your Mind: Answering listener mail Email form Joe O'Reilly - I'm a covered call writer who is interested in currencies (particularly the Euro and Aus). How does the smile-type skew in the products impact a covered call writer like myself? Is there anything I should be aware of when writing these products? Should I reconsider my typical equity covered call strategy of sticking with ITM calls because there is more volatility in the currency wings? Any insight that you could provide would be deeply appreciated. And I hope LSFO is on much more regularly in 2013. I look forward to these episodes. Email from Syrin Dunapar, Cyprus - What impact, if any, do you feel the inclusion of Turkey into the EU would have on the Euro and Euro volatility? Tweet from Joey B - Are institutional customers typically net buyers or sellers of currency volatility?…
In this episode, Mark is joined by Pete Barker, Executive Director of Interest Rate Products, and Dave Reif, Senior Director of Interest Rate Products at CME Group, as well we Jeff Lewandowski, CTA at Protean Trading. What to Know: Catching up on the latest developments. What volume and activity trends are happening in the interest rate complex? Do mid-curve options continue to be the main driver of interest rate option volume? Are short duration contracts still a big driver of volume for the interest rates complex? Why do we see so many people buying premium in short duration interest rate futures options? Why is the trend in the equity side of the fence so overwhelmingly swayed toward selling short-duration premium? Why do so many people flock to mid-curve products right now vs. the rest of the yield curve? What's New: A quick overview of the Fedwatch tool and what it offers. More information on the empirical duration tool. What is the liquidity analytics tool? Are there any interesting new developments in the interest rate space? What to Watch: Are there more retail customers adopting interest rate products? If not, what steps can be made to generate more retail interest in these products? Financial advisors/asset managers are also a big target audience for options and futures these days. Are there any specific initiatives in the interest rate complex to target these users? Why are so many financial advisors are "on the sidelines" from a derivatives perspective? What's on your Mind: Our experts answer listener mail. Email from Tod Dunkins, Calgary - Most of my interest in interest rates products tends to lean towards the income side of the equation. I'm always looking for products that help me capture income though dividend yields, etc. I've seen a few products like the CBOE BXM that mimic SPX buy-writes. Has CME Group ever considered creating products in that vein to help customers generate income through options writing? While the underlying would probably be a financial index, their income and steady yield would make them very attractive to interest rate traders. I know I would be interested in that type of product. Thanks for the show. Looking forward to the next episode. Tweet from (handle withheld) - Has CME Group considered making an ETF based on their futures (rates, ags, etc) to drive volume back to their exchange? Or is that left to third parties?…
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The Long & Short of Futures Options

In this episode, Mark is joined by Derek Sammonn, Senior Managing Director of Interest Rates and FX at CME Group. What to Know: FX futures recently turned 40. What's going on the Euro Zone, and how does it affect the volume trends on your FX complex? Are people continuing to put on downside protection in the Euro? The fact that you're putting up 80% in terms of actual volume on the electronic side is quite an eye-opening statistic. Mid-curve interest rate contracts. What's New: CME allows customers to trade not just by price, but also by vol. An update on the OTC clearing exchange and what is happening on the interest rate side. Info on the open interest profile and Fed watch tools. What's on Your Mind: Listener questions and comments How does the CME view the rise in popularity of fixed income ETFs like TLT? Do they view them as cannibalizing their existing fixed income products, or do they view them as additive to their product mix, because many holders of these products hedge with treasury futures? Can they even be viewed as gateway products for retail customers who may have never trading a fixed income product before, let alone a bond, future or option? (Via Facebook from Dan Evans, New York, NY) What do think about CBOE and other options exchanges now listing a full month of weeklies, effectively copying CME's Weekly Strategy? (Via Twitter from Tim16)…
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