Russell Rhoads, CFA

Director of Education
CBOE Options Institute
Biography
Russell Rhoads, CFA, is Director of Education for the CBOE Options Institute having joined CBOE as an instructor in 2009. His career before CBOE included positions at a variety of firms including Highland Capital Management, Caldwell & Orkin Investment Counsel, Balyasny Asset Management, and Millennium Management. He is a financial author and editor having contributed to multiple magazines and edited several books for Wiley publishing. He is the author of five market related books including Trading VIX Derivatives, Option Spread Trading, and Trading Weekly Options. He is currently finishing up two books to be published in the summer of 2016, Volatility Trading Strategies and Options for Institutions and Advisors. Finally, he co-authored material to be included in Level II of the CFA program beginning in the spring of 2017. In addition to his duties for the CBOE, he is an adjunct instructor at Loyola University and the University of Illinois - Chicago. He is a double graduate of the University of Memphis with a BBA ('92) and an MS ('94) in Finance and also received a Master's Certificate in Financial Engineering from the Illinois Tech in 2003. In addition to his duties for CBOE, he is currently pursuing a PhD from Oklahoma State University with an expected graduation date of December 2017.

Author Archives: Russell Rhoads, CFA

Weekend Review of VIX Futures and Options – 10/15/2017

On a week over week basis VIX hardly budged, but we did have a couple of days with closes over 10.00 both Monday and Tuesday.  In fact, we would have had a double digit VIX highs each day if it weren’t for Friday’s price action falling short by 0.02.  The curve moved lower than VIX […]

Weekend Review of Volatility Indexes and ETPs – 10/15/2017

There are lots of articles floating around discussing the lack of volatility in the markets along with the low level of VIX.  It’s reaching a point where we don’t have much else to say and are just waiting for a change of scenery.  With all that going on, the four volatility indexes based on SPX […]

Weekend Review – VIX Options and Futures – 10/8/2017

Despite closing at an all-time low on Thursday and the S&P 500 gaining over 1% last week, VIX was slightly higher when the dust settled Friday.  The same cannot be said for the VIX futures curve where all contracts lost value last week.  It should be noted that despite the low level (or because of […]

Weekend Review – Volatility Indexes and ETPs – 10/8/2017

The VXST – VIX – VIXM3 – VXMT curve was mixed with VIX rising but the other three S&P 500 related volatility indexes lower on the week. On the summary table, SKEW and VVIX stand out as indications that risk is lurking around the markets.  As a perspective, we have SKEW data going back to […]

Fed Survey Touches on Equity Volatility Instrument Usage

Every three months the Federal Reserve conducts a survey titled, “The Senior Credit Officer Opinion Survey on Dealer Financing Terms”.  This report comes in summary form as well as specific responses to 79 questions that are asked each quarter.  Periodically there are some extra questions placed at the end of the survey, needless to say […]

Weekend Review – VIX Futures and Options – 10/1/2017

VIX remains at low levels and the curve continues to be steep as the volatility markets appear to be braced for ‘something’.  That something is probably an unknown unknown that will shock some very complacent markets. An interesting VIX trade caught my eye on Friday as it were a little different than most of the […]

Weekend Review – Volatility Indexes and ETPs – 10/1/2017

The S&P 500 continues to power higher finishing the week (and 3rd quarter) at an all-time high.  The price action last week pushed all the SPX related volatility indexes lower, but not by much.  All were already low and testing levels that have been pretty much a floor before the week commenced. The long VIX related […]

Large Buyer of VIX Calls Today at CBOE

Another big bullish VIX trade came into the pit today, with VIX just over 10.00 and the October futures at 12.20, a buyer of about 100,000 VIX Oct 17 Calls came into the market paying 0.45 for the whole lot.  The trade got divided up around the pit in several pieces, which shows up in […]

Large VIX Roll Trade from Today

Back in the day, when I was a lad in Junior High School, the Dead Kennedys remade the theme to the TV show Rawhide.  The song begins, “Rollin’ rollin’ rollin’”, which is the ear worm I get when I see a trade like we had in the VIX pit today.  Specifically, an October spread that […]

Weekend Review of Volatility Indexes and ETPs – 7/30/2017

On a week over week basis the S&P 500 was down fractionally.  One would not assume such a small move from SPX when looking at the VXST – VIX – VXV – VXMT curve below.  VXST and VIX made nice moves to the upside while the longer end of the curve moved up a bit […]

  • CATEGORIES

  • Recent Comments

  • Tags

  • authors

  •  

  • Quick Links

  • Blogroll

  • Follow Us

    RSSTwitterFacebookLinkedInYouTube
  • Archives