7 episodes
The OPEX Effect Brent Kochuba, Jack Forehand and Justin Carbonneau
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- Business
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4.5 • 2 Ratings
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The OPEX Effect is a joint podcast from Excess Returns and SpotGamma where we take a deep dive into the world of options and the flows they generate in markets. Join Brent Kochuba and Jack Forehand every month on Options Expiration week as they look at the major developments in the options world and how they impact all of our portfolios.
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The Return of Volatility
In this episode of the OPEX Effect podcast, Brent Kochuba and Jack Forehand discuss the current market turmoil and its potential impact on options flows. They analyze how the geopolitical conflict in the Middle East, coupled with rate volatility and the upcoming U.S. elections, is causing a shift in the market environment from a period of volatility suppression to one of increased volatility. The hosts examine various indicators, such as correlation, dispersion, and the VIX, to highlight the unwinding of previous market flows and the potential for a new volatility regime. They also discuss the implications of the VIX expiration occurring before the equity options expiration and how this could impact the market in the coming week.
DOWNLOAD THE SLIDE DECK
https://excessreturnspod.com/opexeffectapril2024.pdf
MORE INFORMATION ABOUT SPOTGAMMA
https://www.spotgamma.com
FOLLOW BRENT ON TWITTER
https://twitter.com/spotgamma
FOLLOW JACK ON TWITTER
https://twitter.com/practicalquant -
The Nvidia Conundrum | The OPEX Effect | March 2024
The OPEX Effect looks at the impact of options flows on the market from the perspective of longer-term investors. In each episode, we break down what is going on behind the scenes in the options market and how the resulting flows are moving markets.
In this episode, we take a deep dive into the March 2024 options expiration and its potential implications for the market. We discuss dealer positioning into the expiration, whether the call buying in the chip sector is showing signs of exhaustion, the relationship between gold and Bitcoin and forward stock returns, options positioning headed into Nvidia's upcoming major announcement and a lot more.
DOWNLOAD THE SLIDE DECK
https://excessreturnspod.com/opexeffectmarch2024.pdf
MORE INFORMATION ABOUT SPOTGAMMA
https://www.spotgamma.com
FOLLOW BRENT ON TWITTER
https://twitter.com/spotgamma
FOLLOW JACK ON TWITTER
https://twitter.com/practicalquant -
The OPEX Effect | February 2024 | Helping Long-Term Investors Understand Options Flows
The OPEX Effect looks at the impact of options flows on the market from the perspective of longer-term investors. In each episode, we break down what is going on behind the scenes in the options market and how the resulting flows are moving markets.
In this episode, we take a deep dive into the February 2024 options expiration and its potential implications for the market. We discuss the extreme level of call buying occurring in the tech space and what it might mean going forward. We also cover volatility, skew, the price of downside protection, tech domination of the S&P 500 and a lot more.
DOWNLOAD THE SLIDE DECK
https://www.validea.com/documents/opexeffectfebruary2024.pdf
MORE INFORMATION ABOUT SPOTGAMMA
https://www.spotgamma.com
FOLLOW BRENT ON TWITTER
https://twitter.com/spotgamma
FOLLOW JACK ON TWITTER
https://twitter.com/practicalquant -
Inside the January Options Expiration
The OPEX Effect looks at the impact of options flows on the market from the perspective of longer-term investors. In each episode, we break down what is going on behind the scenes in the options market and how the resulting flows are moving markets.
In this episode, we take a deep dive into the January 2024 options expiration and its potential implications for the market. We discuss why this expiration could be a significent market event, what the behind the scenes details of the expiration look like and why the story is even more interesting in single stocks than it is for the S&P 500. We also get an update on the MAG 7 stocks, look at why volatility has been muted and dicsuss the implications of the rise of 0DTE options.
DOWNLOAD THE SLIDE DECK
https://www.validea.com/documents/opexeffectjanuary2024.pdf
MORE INFORMATION ABOUT SPOTGAMMA
https://www.spotgamma.com
FOLLOW BRENT ON TWITTER
https://twitter.com/spotgamma
FOLLOW JACK ON TWITTER
https://twitter.com/practicalquant -
The OPEX Effect: December Expiration | S&P 500 Update, Small-Cap Surge, JP Morgan Collar
THE OPEX Effect looks at the impact of options flows on the market from the perspective of longer-term investors. In each episode, we break down what is going on behind the scenes in the options market and how the resulting flows are moving markets.
In this episode, we look at where things stand coming into the December 2023 options expiration. We look at dealer positioning in the S&P 500 headed into the expiration and what that might mean going forward. We discuss the setup in small-cap stocks, whether we are seeing excessive call buying in single stocks, the JP Morgan Collar trade and a lot more.
DOWNLOAD THE SLIDE DECK
https://www.validea.com/documents/opexeffectdecember2023.pdf
MORE INFORMATION ABOUT SPOTGAMMA
https://www.spotgamma.com
FOLLOW BRENT ON TWITTER
https://twitter.com/spotgamma
FOLLOW JACK ON TWITTER
https://twitter.com/practicalquant -
The OPEX Effect: November Expiration | 0DTE Options, S&P 500 Update, MAG 7 Positioning
In our latest episode of the OPEX Effect, we discuss the upcoming November options expiration and what Brent is seeing in options markets leading into it. We also talk about the impact of 0DTE options on the market, the relationship between options expirations and VIX expirations, positioning in the Mag 7 stocks and a lot more.
DOWNLOAD THE SLIDE DECK
https://www.validea.com/documents/opexeffectnovember2023.pdf
MORE INFORMATION ABOUT SPOTGAMMA
https://www.spotgamma.com
FOLLOW BRENT ON TWITTER
https://twitter.com/spotgamma
FOLLOW JACK ON TWITTER
https://twitter.com/practicalquant
FOLLOW JUSTIN ON TWITTER
https://twitter.com/jjcarbonneau