Derivatives Market Intelligence
Mandy Xu shares actionable insights and analysis on Cboe's leading suite of derivatives products.
New Whitepaper: The VIX® Index Decomposition - A Heuristic Framework to Unravel Unexpected Behaviors in the VIX Index.
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
Options Positioning Diverges Between Large- vs. Small-Caps
Implied volatilities were mixed last week as investors weighed labor market weakness against rising odds of additional Fed easing. SPX® options volumes jumped, with over 5M contracts trading on Friday, making it the 2nd highest volume day on record (behind only April 4th). Despite the elevated volume, the VIX® index fell, with investors choosing to focus on the positives of Fed easing rather than the weakening jobs picture. A similar sentiment can be seen in the credit markets with VIXIG down 1 vol pt wk/wk.
Volatility Insights
An ad hoc thematic series providing a targeted analysis on what is trending in the market.
The Latest
Cboe® iBoxx® Credit Futures Unpacked - Examining the Key Drivers Behind Their Record Market Adoption
The corporate bond market is undergoing a profound transformation, driven by electronification and a demand for more efficient, standardized instruments. Reflecting this evolution, Cboe® iBoxx® Credit Futures have recently experienced unprecedented growth in market adoption. Open interest in IBHY futures has skyrocketed by 4.5 times year-over-year to $1.2 billion, while IBIG futures have seen a 4.4-fold increase to nearly $600 million.
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
