| January 22, 2024 | | | | | Jeff Bergstrom
Editor
John Lothian News | |
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| | | | Observations & Insight | | | What does the collapse of Sports Illustrated have to do with the markets? Manoj Bhargava, who owns Simplify Inventions, which took an approximately 65% stake in the Arena Group, is also one of the biggest players in equity options. Arena Group was the firm that did not make a quarterly payment of about $3.75 million and had its license to publish Sports Illustrated revoked by Authentic Brands Group. SI Capital Group is a major player on Cboe Global Markets and is an OCC self-clearing member and owned by the family office of Manoj Bhargava, who developed 5-Hour Energy. ~ JJL
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| | | | | | Lead Stories | | | Shift in Key Options Bet Suggests S&P 500 Can Rally Even Further; Options call wall moves to 5,000 from 4,800 in bullish sign
Jan-Patrick Barnert - Bloomberg
Options traders are betting on more gains in the S&P 500 Index after it hit a record high on Friday.
A slew of bullish wagers shifted the yardstick of what's seen as the upper bound of the US benchmark's trading range. The so-called "call wall" has moved to 5,000 points from 4,800 â signaling that traders see the market clearing the next hurdle toward further gains, according to SpotGamma data. That points to a further 3.3% of upside, based on Friday's close.
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S&P 500 hits fresh record high, builds on bull-market run
Ankika Biswas and Johann M Cherian - Reuters
The benchmark S&P 500 scaled a fresh record high on Monday, extending a bull-market run into a new week on a boost from some megacap and chip stocks, while corporate earnings and clues on interest-rate cuts continued to top investors' radar.
The S&P 500 surpassed Friday's record level and hit an intraday high of 4,868.41 points, confirming a bull market after closing at an all-time high in the previous session since its October 2022 closing low.
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Hedge Funds Rake in Huge Profits Betting on Catastrophe Risk; Insurance-linked securities behind 2023's best hedge fund play; Weather, inflation delivered the perfect cocktail last year
Sheryl Tian Tong Lee and Gautam Naik - Bloomberg
For hedge funds, the science of catastrophes helped generate the best returns of any alternative investment strategy last year.
The calculus around natural disasters such as hurricanes and cyclones fed record gains at funds managed by firms including Tenax Capital, Tangency Capital and Fermat Capital Management. All three delivered results that were more than double an industry benchmark, according to public filings, external estimates and people familiar with the funds' numbers.
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In flat oil market, hedge funds focus on relative risks
John Kemp - Reuters
Portfolio investors anticipate petroleum prices will remain rangebound in the short term so positioning is increasingly focused on expected changes in relative performance among the major crude and fuels contracts.
On the crude oil side, investors have revealed a strong preference for Brent over WTI, while among fuels, U.S. contracts are favoured over European gas oil.
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| | | | | | Exchanges | | | NSE is world's largest derivative exchange for 5th consecutive year; NSE Group (National Stock Exchange of India and NSE International Exchange) has once again emerged as the world's largest derivatives exchange group
GK News Service
NSE Group (National Stock Exchange of India and NSE International Exchange) has once again emerged as the world's largest derivatives exchange group in calendar year 2023 by number of contracts traded based on statistics published by Futures Industry Association (FIA), a derivatives trade body. A statement said that National Stock Exchange of India (NSE) is the world's largest derivatives exchange for the fifth consecutive year in 2023. NSE is ranked 3rd in the world in the equity segment by number of trades (electronic order book) in 2023, as per the statistics maintained by World Federation of Exchanges (WFE).
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| | | | | | Regulation & Enforcement | | | Nasdaq and Cboe seek SEC approval for Bitcoin ETF options trading
Natashya Angelica - Investing.com
The U.S. Securities and Exchange Commission (SEC) is currently reviewing applications from two major exchange operators, Nasdaq and Cboe Global Markets (NYSE:CBOE), to introduce options trading for Bitcoin-related exchange-traded funds (ETFs).
Nasdaq has submitted a proposal to list options for BlackRock (NYSE:BLK)'s Bitcoin trust, IBIT. Meanwhile, Cboe Global Markets is aiming to launch options on various Bitcoin-related exchange-traded products. The move by both exchanges indicates a growing interest in providing traditional investors with regulated avenues for gaining exposure to the cryptocurrency market.
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| | | | | | Strategy | | | Bitcoin Falls. Beware a 'Notorious' Correction.
Jack Denton - Barron's
Bitcoin and other cryptocurrencies fell Monday as outflows from the largest spot Bitcoin exchange-traded fund weighed on prices. As the approval of landmark ETFs continues to deliver a "sell the news" dynamic, traders are bracing for a characteristic correction across crypto markets.
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Funds step up short bets in CBOT corn, soy, meal off weighty USDA data
Karen Braun - Reuters
Speculators eased concerns over global grain and oilseed inventories late last year, but their selling enthusiasm, especially in Chicago-traded corn, soybeans and soybean meal, has accelerated this month as U.S. government outlooks corroborate the supply comfort.
Most-active CBOT corn futures shed 3.4% in the four-day trading week ended Jan. 16, driven by the U.S. Department of Agriculture's heavy corn supply outlook issued on Jan. 12. The main feature of that report was the record 2023 U.S. corn yield, which was not expected.
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Equity Markets Reach New Heights Amid Earnings Season Uncertainty and Global Strife
JJ Kinahan - tastylive
Equity markets are witnessing a surge that's achieving unprecedented milestones. Last week, the S&P 500 marked a historic closure, experiencing a remarkable gain of 1.17%. Concurrently, the Nasdaq Composite is inching closer to its all-time highs, boasting a gain of just over 2.25%.
But as we enter earnings season, coupled with crucial economic data preceding the Jan. 31 Federal Open Market Committee meeting, the trajectory of stocks in the coming weeks remains uncertain.
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| | | | | | Miscellaneous | | | It's less than a year until inauguration. Here are the stock-market lessons from 134 elections in 17 countries
Steve Goldstein - MarketWatch
It's less than a year until inauguration for the next U.S. president, bringing into focus the impact from elections on markets, in a year in which not just the U.S. but India, Mexico and almost certainly the U.K. will head to the polls.
Strategists at Citi examined the stock-market impact of 134 elections held in 17 different countries, excluding periods of volatile global markets such as the global financial crisis and the COVID-19 pandemic.
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