Q1 2021 Options Review

Data Insights

Contributors

Michael Blaugrund

Chief Operating Officer, NYSE Group 

Blaugrund is responsible for NYSE’s equity and options trading businesses, including the New York Stock Exchange, NYSE American, NYSE Arca and NYSE National exchanges. Additionally, he oversees the NYSE/FINRA Trade Reporting Facility and NYSE Bonds fixed income exchange.

Blaugrund holds a B.A. in government from Harvard University. He is also a Chartered Financial Analyst (CFA).

Steven Poser

Director, Research, NYSE

Poser provides detailed analysis and insight into current equity and options market issues including regulation, market composition and structure.

Poser holds a B.A in Mathematics and Computer Science from NYU, a MBA in Business Economics from Pace University and a post-MBA Certificate in Finance from NYU Stern School of Business.

Kevin Tyrrell

Head of Equities Strategy and Research, NYSE

Tyrell leads a team of professionals responsible for delivering market analysis, insights and actionable solutions for NYSE’s transactions clients across options and equities.

Kevin holds a B.A in International Affairs from The George Washington University and MBA, Quantitative Finance from NYU Stern School of Business

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Recent Articles

After-hours trading has been a larger piece of the total trading volume since the onset of the pandemic, with retail presence growing stronger and earnings announcements becoming less of a factor. In this post, we examine the impact of these shifting dynamics on after-hours price discovery and order behavior.

The surge in market volatility and trading volumes since the onset of the pandemic in March 2020 has impacted numerous aspects of equity market trading. One less-studied area has been after-hours trading. After-hours has also seen changes in order flow trends and influences, and here we examine trends and shifts occurring in these sessions.

At the end of January, stock market news was everywhere from mainstream outlets to Saturday Night Live, as social media seemed to drive unprecedented trading interest in a few stocks. AMC Entertainment (AMC), BlackBerry (BB), GameStop (GME), and Nokia (NOK) received the most attention and saw their combined options ADV increase from 68K contracts in Q4 2020 to over 426K contracts in Q1 2021 − a 523% increase. Overall multi-list options ADV increased 31.3% in that same time frame.