Sheesh, with VIX moving like that, selling those sweet premiums is a gift we have not seen in a while.
At least we are not down right now The bounce not that impressive though after what happened yesterday
Shares of the Cboe exchange tank on fears a big source of revenue may take a hit — volatility trading Cboe Global Markets shares tanked Tuesday amid wild swings in market volatility and a persistent equities sell-off. That scenario is normally good for exchanges, but not if it threatens the interest in one of your biggest money-making products: volatility futures. The Cboe volatility index soared over 50 in wild trading Tuesday that investors said was exaggerated because of exchange-traded products that inversely track the Cboe's VIX. Trading was so extreme, it worried traders that investors may choose something else other than VIX-related futures to hedge positions in the future. Also, the exchange-traded notes linked to the VIX may be forced to liquidate, and some already were. That would remove big buyers of the VIX futures, and loyal, consistent customers for the Cboe. Cboe, which manages extensive options and securities trading worldwide, could see a hit to its top line if the whipsaws spook investors away and drive down fee revenue, according to investment firm KBW. Shares were down nearly 10 percent Tuesday afternoon. "VIX options and VIX futures trading generated approximately 25 percent of Cboe's revenues in aggregate in the second half of 2017 (roughly split between these two products) — a meaningful growth driver for the company," analyst Kyle Voigt warned in a note. "We do note that when VIX has spiked in the past and the VIX futures term structure has flattened or become inverted, VIX futures open interest declined, along with volumes during a period of time thereafter. "Our back-of-the-envelope math for XIV and SVXY suggests these two ETNs specifically could hold up to 25 percent of the short open interest in VIX futures specifically," Voigt added. Cboe declined to comment for this story. The company reports quarterly earnings on Friday. https://www.cnbc.com/2018/02/06/shares-of-the-cboe-exchange-tank.html
XIV being liquidated! https://www.credit-suisse.com/pwp/cc/doc/credit_suisse_age_event_acceleration_xiv_etns.pdf Credit Suisse AG Announces Event Acceleration of its XIV ETNs New York February 6, 2018 Credit Suisse AG (“Credit Suisse”) today announced the event acceleration of its VelocityShares™ Daily Inverse VIX Short Term ETNs (“XIV”) due to an acceleration event. The acceleration date is expected to be February 21, 2018. Since the intraday indicative value of XIV on February 5, 2018 was equal to or less than 20% of the prior day’s closing indicative value, an acceleration event has occurred. Credit Suisse expects to deliver an irrevocable call notice with respect to the event acceleration of XIV to The Depository Trust Company by no later than February 15, 2018. The date of the delivery of the irrevocable call notice, which is expected to be February 15, 2018, will constitute the accelerated valuation date, subject to postponement due to certain events. The acceleration date for XIV is expected to be February 21, 2018, which is three business days after the accelerated valuation date. On the acceleration date, investors will receive a cash payment per ETN in an amount equal to the closing indicative value of XIV on the accelerated valuation date. The last day of trading for XIV is expected to be February 20, 2018. As of the date hereof, Credit Suisse will no longer issue new units of XIV ETNs. On February 2, 2018, the closing indicative value was USD 108.3681. None of the other ETNs offered by Credit Suisse are affected by this announcement.
Senate majority leader Mitch McConnell says lawmakers near deal on spending limits https://www.cnbc.com/2018/02/06/sen...s-lawmakers-near-deal-on-spending-limits.html
spaceX launch live: 3:45 - 4:00 EST https://www.pbs.org/newshour/scienc...falcon-heavy-the-rocket-that-could-go-to-mars
Widespread bars like we've been seeing both to the downside (and now upside today) are not good for stability of markets. I know it sounds like sacrilege, but I stayed the hell away. Way too volatile for me while I'm at work.
Watched a LOT of launches while I've lived in FL from the west side of the state. Mostly what we see is a bright light in the sky ( daytime or night ). On this launch, I didn't see anything in the sky....weird.
I hear ya...almost had a hear attack earlier going long on ES....was up $250 then down $250...got out asap with a slight loss...
Ha ha, not sacrilege at all. The only thing I did was close out some long puts I had going the past few weeks (boy, was this drop timely for that!), and call it good.
