Derivatives Market Intelligence
Mandy Xu shares actionable insights and analysis on Cboe's leading suite of derivatives products.
Mandy Xu
Mandy Xu is Head of Derivatives Market Intelligence at Cboe Global Markets. She produces actionable insights and analysis on derivatives market themes and flows, with a focus on Cboe's leading suite of volatility products. She is frequently cited in the financial media, including the Wall Street Journal, CNBC, Financial Times, and Bloomberg News.
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Macro Volatility Digest
A weekly macro commentary email focused on themes and notable moves in the cross-asset volatility markets.
The Latest
Oil Options Suggest Price Spike Likely to Be Temporary
WTI oil 1M implied volatility surged over 20 pts last week to near a 3-year high of 51% on the back of the Iran-Israel conflict. The surge in implied vol far outpaced the increase in realized vol (+10 pts) as the implied-realized spread widened on the back of escalation fears. The 1M volatility risk premium for oil, at over 16 pts currently, ranks as the richest across asset classes (higher even than bitcoin).
Volatility Insights
An ad hoc thematic series providing a targeted analysis on what is trending in the market.
The Latest
0DTEs Decoded: Positioning, Trends, and Market Impact
SPX zero day to expiry (0DTE) options trading have grown more than five-fold over the past 3 years, now averaging almost 2M contracts a day. What is driving that growth? Increased utility and wider adoption are two big drivers, with retail powering much of the increase. We estimate that retail now makes up around 50-60% of SPX 0DTE trading. Read more in the latest Volatility Insights.
Webinars
The Market Intelligence webinars are a monthly series bringing together industry professionals to discuss timely topics and what is to come in the market ecosystem.
04/24/2025
0DTE Decoded: The Evolution of 0DTE Trading
Media Disclaimer: All information and commentary from this webinar is considered on background and not to be used for direct attribution to the speakers or their respective affiliations. Compliance with these terms is mandatory for all media personnel and entities in attendance. Please reach out to CorporateCommunications@Cboe.com for any specific media inquiries or questions.
- Upcoming Webinars
- Replays On-Demand
No scheduled Webinars at this time. Stay tuned!
Mandy Xu Videos
