The PM-settled SP500 index (SPXPM) product is 9 days old and volume and open interest have been climbing steadily, with the index on track for 5000 contracts today and most of the volume in the downside November put wing. Open interest totals nearly 19,000 contracts (.12% of SPX) and some of that has come from the rolling of SPX FLEX options that were oustanding with the same contract specs into the listed product.
Category: All Indexes
About the Author (Author Profile)
Henry Schwartz is the president of Trade Alert LLC, a provider of real-time options analysis tools to leading Wall Street firms. His systems analyze hundreds of thousands of transactions per second to help professionals identify and interpret market activity in real time, supporting informed trading decisions and intelligent idea generation. He has held institutional trading and management roles with Bank of America, Bear Stearns, Salomon Brothers and the Hull Group, and made markets on the CBOE and AMEX floors in the US, and EUREX and MONEP overseas. Prior to founding Trade Alert, he led the electronic market-making group at Bank of America coincident with the launch of the International Securities Exchange. He received his bachelor’s degree in Economics from the University of California, San Diego and his MBA from NYU’s Stern School of Business.