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Futures & Options Trader, July 2009
July 2009 • Volume 3, No. 7
FUTURES STRATEGY:
The six-signal composite
indicator p. 10
MONDAY, MONDAY:
Big Monday drops
in stock-index futures
p. 22
WHY OPTIONS
are different — and
better — than insurance
p. 16
MARKET REGULATION
takes shape p. 24
SENATE SCOLDS
wheat speculators p. 24
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CONTENTS
News
Senate report blames
While energy prices snagged most of the
headlines, wheat prices also shot up in early
2008, and a new congressional report places
the blame on speculators.
Proposed reform leaves
Despite months of speculation, the Obama
administration leaves an SEC-CFTC merger off
the table.
Trading Strategies
One way to generate a daily trade signal is to
combine individual components that test well
across a range of markets.
By Art Collins
CBOE-CBOT settlement
The legal battle over former CBOT member
rights to an equity stake in the CBOE ends with
a court-approved settlement, opening the way
for a merger or public offering from the CBOE.
Optionality: Why options are
A look at how a key concept often gets lost in the
analogies used to explain options, and how this
characteristic can help you in your trading.
By Keith Schap
.
Does the day of the week have any effect on
price action?
By FOT Staff
2
July 2009 • FUTURES & OPTIONS TRADER
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CONTENTS
Momentum, volatility, and volume
statistics for futures.
Notable volatility and volume
in the options market.
Futures & Options Watch
A look at the relationship between commercials
and large speculators in U.S. futures markets.
Trading the recent peak in crude oil with calls on
an oil-related exchange-traded fund.
Have a question about something you’ve seen
in Futures & Options Trader?
Submit your editorial queries or comments to webmaster@futuresandoptionstrader.com .
Looking for an advertiser?
Click on the company name below for a direct link to the ad
in this month’s issue of Futures & Options Trader.
4
July 2009 • FUTURES & OPTIONS TRADER
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Derivatives, simpliied
Nadex. Make the trade you want, when you want. Simple.
t Nadex – the North American Derivatives Exchange
– we know how quickly things can change. We know you
have a view on the Credit Crunch and the future of oil
prices, so we know you need straightforward, instant access to
trade the markets.
Limited risk
With Nadex products, we keep things simple. You know your
maximum possible proit and loss from the start, which limits your
exposure to extreme price changes.
Each of our Spread contracts has a Floor and Ceiling associated
with it, representing the maximum and minimum settlement levels.
Your proit/loss is restricted by these levels, no matter how far
past either level the underlying market may have moved.
And our Binary Options can only be settled at 0 or 100, so you
know your maximum risk on a trade in advance.
That’s why we’ve made derivatives trading fast and simple.
At Nadex you can trade on stock indices, commodities, forex
and inancial events with limited risk, in a transparent, regulated
marketplace. These are just some of the markets we offer:
• Wall Street 30, US 500, FTSE 100, Germany 30, Korea 200
• EUR/USD, GBP/USD, USD/CAD, USD/CHF, and USD/JPY
• Crude Oil, Natural Gas, Gold, Silver, Copper, Corn, and Soybeans
• Payroll igures, interest-rate decisions, and more
easy access, simple trading
No trading fees for your irst four weeks!
Simply follow your view and go long or short on hundreds of
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• Spreads
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• powerful – open multiple order tickets
What’S a Spread COntraCt?
Our Spreads provide you with easy exposure to the markets. They
are straightforward, short-term limited risk contracts, which are
settled against the prices of underlying markets (generally Futures).
What’S a Binary OptiOn?
A Binary Option asks you a question. For example: will the Wall Street
30 inish up today? Will GBP/USD climb three points by 2 p.m.?
Do you agree or not? Our Binary Options settle at 100 if the event
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Simulate your trading on our free
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Simple.
Small contract sizes
At Nadex we’ve made it easy to trade what you want.
• Contract sizes are smaller than contracts in the underlying market
• A wide choice of expiry times
• Broad range of strike prices and Spread ranges
NADEx
Nadex is a designated contract market subject to regulatory
oversight by the Commodity Futures Trading Commission. Nadex,
Inc. is part of the global IG Group – a world leader in inancial
derivatives trading. IG Group is a UK FTSE 250 member with
several operating companies around the world, offering trading
products to more than 70,000 active retail and professional clients.
A
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