| May 25, 2022 | | | | | Jeff Bergstrom
Editor
John Lothian News | |
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| | | | Lead Stories | | | Yen Bounces 3% From Two-Decade Low as Growth Fears Intensify
Chikako Mogi - Bloomberg
The yen's recovery from a 20-year low is picking up pace, with options markets and analysts suggesting the rebound has some room to run.
After rising over 3% from its trough, Japan's currency may climb back to 125 as global growth worries fuel demand for havens and U.S. yields ease, according to Shinkin Asset Management and IG Markets Ltd. Option markets indicate there's a 64% chance the yen will strengthen past the 125 mark by end-June.
/jlne.ws/38j2FCd
Market Structure Conference 3.0 - Options Markets: Efficient Markets or Product Insanity?
Bloomberg video
Bloomberg's Paul Gulberg speaks with Michael Golding, Optiver Head of Trading, JJ Kinahan, Tastytrade Chief Strategist, and Joe Mecane, Citadel Securities Head of Execution Services, at the Market Structure 3.0: Markets of Today and Tomorrow event hosted by Bloomberg Intelligence.
/jlne.ws/3MI1fA5
| | | | | | Exchanges | | | Equity Trader Alert #2022 - 50
Nasdaq to Hold a Moment of Silence Honoring the Victims of the Uvalde, Texas Shooting
Nasdaq will observe a one-minute moment of silence at 9:20 a.m. Eastern Time (ET) in remembrance of those lost and injured in the recent shooting in Uvalde, Texas.
/jlne.ws/3wNsVNa
| | | | | | Regulation & Enforcement | | | Court rejects exchanges' challenge to SEC market data rules
Brian Croce - Bloomberg
The U.S. Securities and Exchange Commission headquarters in Washington, D.C.
A federal appeals court in Washington on Tuesday sided with the Securities and Exchange Commission in a challenge brought by U.S. stock exchanges that sought to halt SEC rules to revamp the collection and distribution of market data.
/jlne.ws/3PKVNy8
| | | | | | Strategy | | | Index vol has been a poor hedge for equity rout, traders say
Single stock 'micro' hedges have offered more protection in this year's selloff
Helen Bartholomew - Risk.net (paywalled)
Traditional long volatility hedges have offered little protection during the recent selloff in US equities, traders say, as the growth-to-value rotation left index volatility unusually subdued in the face of a sharp drop in stock prices. Hedging equity risk by buying calls on the Vix index of S&P 500 options volatility has proved "quite difficult," said Marc Möhrle, a portfolio manager at DWS, "because index vol just didn't pick up at all or is quite depressed even though we've had quite
/jlne.ws/3z6Gc66
Playing Volatility Through UVXY As Stocks Continue To Sputter
S&P 500 volatility continues to hug the 30-level, implying a 2% daily stock market move.
UVXY is a great way to play short-term bullish volatility expectations.
Volatility is front and center in 2022. The CBOE Volatility Index (VIX) has stubbornly held near the 30-level throughout this year. For context, a VIX at 30 implies a roughly 2% daily swing up or down on the S&P 500.
UVXY: A Leveraged Bullish Bet on S&P 500 Volatility
One way to play short-term moves in S&P 500 volatility is through the ProShares Ultra VIX Short-Term Futures ETF (BATS:UVXY). According to ProShares, the ETF seeks daily investment results, before fees and expenses, that correspond to one and one-half times (1.5x) the daily performance of the S&P 500 VIX Short-Term Futures Index. UVXY is a leveraged ETF, so holding it for more than a few days runs the risk of losing out to negative compounding returns from volatility - long-term total returns are dreadful, per ProShares. The upshot is that returns are enhanced if you happen to nail a multi-week trend well.
/jlne.ws/3yUFTLP
| | | | | | Events | | | BGC Partners to Present at Piper Sandler Global Exchange & FinTech Conference on June 8, 2022
Webcast Available for Investors
NEW YORK, May 24, 2022 /PRNewswire/ -- BGC Partners, Inc. (Nasdaq: BGCP) ("BGC"), a leading global brokerage and financial technology company, today announced that its Chairman and CEO, Howard W. Lutnick, is scheduled to present at Piper Sandler's Global Exchange & FinTech Conference at 3:00 p.m. ET on Wednesday, June 8, 2022.
A live webcast of the event will be made available at http://ir.bgcpartners.com. A replay of the event will also be made available at the same site and for 365 days, beginning June 8, 2022.
Statements made during the webcast may include forward-looking statements about the Company.
/jlne.ws/3Gl9U9h
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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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