Are circumstances making you a little uncomfortable about 30-day volatility bets? Thinking that the next two-and-a-half weeks may bring some mayhem that requires serious fine-tuning of your portfolio? Well, the CBOE has a timely new product for you, set to debut in less than an hour!
The owner of the biggest U.S. options market today introduced the CBOE S&P 500 Short-Term Volatility Index that tracks nine-day options on the Standard & Poor’s 500 Index. The company’s most famous gauge, the CBOE Volatility Index, or VIX, measures 30-day options on the S&P 500….
Starting this month, VIX futures will be available for trading from 3 a.m. to 4:15 p.m. New York time every weekday, with an additional session from 4:30 p.m. to 5:15 p.m. on Monday through Thursday, CBOE said yesterday. A software update to prepare for the shift caused a malfunction that shut CBOE’s main market for 3 1/2 hours in April, prompting the company to delay the trading-time changes.
The price of the short-term index announced today will be revealed once daily at 4:15 p.m. New York time, with updates every 15 seconds beginning later this year, CBOE said.
The company created the nine-day VIX, based on weekly S&P 500 options that expire every Friday, amid surging demand for volatility products as U.S. stocks climb to record highs. Once options and futures linked to the index are made available, traders will gain another way to speculate on -- or hedge their assets in advance of -- short-term events.
Unless you are currently vacationing at a national park, it looks like you're taking the shenanigans in Washington in stride. And if you happen to be a non-essential, furloughed government employee, the new owner of the Washington Post has a jobs program that could keep about 10% of you busy should this thing extend into 2014.
Amazon.com Inc. the world’s largest e-commerce company, will hire 70,000 full-time seasonal workers in the U.S. to meet holiday order demand.
The hiring plan represents a 40 percent increase over last year, the Seattle-based company said in a statement today. Amazon converted “thousands” of seasonal workers recruited in 2012 into regular full-time staff and expects to do the same this year, it said….
Seasonal workers at Amazon earn about 94 percent of the starting wages of fulfillment center employees and are eligible for health-care benefits, the company said.