Tales Of The Tape

You’ve heard of market-makers: that they take the other end of trades and collect the bid/ask spread as fee for their services. But what does that really mean in practice? How did a solely trading floor-oriented market-making ecosystem evolve into today’s setup?Tune in to the latest episode of Tales of the Tape, where Spencer Doar and Andy Bevers of Cboe discuss what it takes to provide liquidity in U.S. options with Steve Crutchfield of market-maker CTC.

Structured products are helping power the next wave of derivativesgrowth. In this episode, Chris Bialka (VP, Head of Cboe Global Indices) andFabrice Hugon (MD, Global Head of Solutions for Financial Intermediaries atCiti) joined Tales of the Tape host Spencer Doar to unpack what structuredproducts are, the forms they take, and how innovations in index design and FLEXoptions are increasing access. What you’ll learn: -How structured products deliver defined payoffs and leverage rules‑basedindices -Why interest‑rate regimes and the hunt for yield acceleratedadoption (buffered ETFs, autocallables, principal protection) -Dealer hedging mechanics -How structured product issuance impacts listed optionsmarkets -What’s next:customization, multi‑asset and crypto‑informed strategies, plus the role oftechnology in modeling & hedging

In previous episodes of “Tales of the Tape,” we explored options market growth, the rise of retail trading technology and the enduring role of the trading floor.Now, we shift to the professional trading community for a deep dive into how hedge funds, asset managers and other institutions execute complex options strategies. Joining us are Annabelle Baldwin and Kevin Holbert from SpiderRock — a firm specializing in trading and risk systems, routing logic and data analytics for global derivatives markets.

Trading floor trailblazers! Cboe Global Head of Derivatives Cathy Clay, along with Liz Dierking and Jenny Andrews of tastylive’s The LIZ & JNY Show, share their career journeys in the world of #optionstrading in the latest episode of the Tales of the Tape podcast. With plenty of amusing anecdotes interspersed, they cover: evolution of open outcry role of a market maker cultural differences between pits necessity of financial education

How is managing a portfolio of options like raising a family? What are common psychological hurdles retail traders face when automating their strategies? Find out in Episode 2 of Tales of the Tape which features Kirk Du Plessis, founder of OptionAlpha, a fintech firm offering tools to automate and research options trading strategies.

Thousands of optionable securities, hundreds of thousands of strikes, millions of trades, billions of messages - these stats describe the U.S. equity options trading ecosystem on a daily basis. In the inaugural episode of our podcast, Tales of the Tape, Cboe’s Henry Schwartz, VP, Derivatives Market Intelligence, provides his take on how the doubling of options volume has impacted markets over the past six years.