Jane Street Makes Another Debut
Jane Street wedges its way into retail options. It's early. The numbers are small. But, they are a powerhouse with competitive advantages. Alphacution makes its case for what could happen here...
Robinhood Battles Schwab For This Top Spot
It appears that Schwab has completed its consolidation and integration of TD Ameritrade. Now this giant is going head to head with Robinhood for leadership in retail brokerage - and all while leaving just about all other competitors in the dust...
Anatomy of a Zero-Sum Game
At the end of the day, how much risk is actually in US equity options? Alphacution distills and presents some never-seen-before numbers from an unprecedented era of this zero-sum game...
Chart of the Month: ETF Positions by Market Maker
Product selection is like the DNA of a trading strategy...
Coinbase: Tracking The Big Thaw
In anticipation of growth in (renewed) interest in cryptocurrencies, Alphacution updates some of its analysis of crypto exchange, Coinbase, as a way to monitor the progress of the thawing after Crypto Winter...
Introducing Alphacution’s Strategy Factor Library
Alphacution goes wider and deeper than ever before - as part of the research for our unexpectedly exhaustive case study on US equity option markets and option market makers - to compare trading entities based on at least 84 strategy factors from the simplest factors - like securities universe or number of positions by product class - to some of the most sophisticated comparisons that Alphacution has ever attempted. In this Feed post, we publish this list - the first version of our Strategy Factor Library...
Concentration Risk: Shape of the Option Market
Alphacution begins to present its unique - and visually quantitative - perspective on the extreme level of concentration in the US equity derivatives market...
Size Matters? Retail Option Order Analysis
Alphacution adds new perspective to its retail option order flow analysis; develops model to estimate retail option order size (in contracts) by order type and broker. Bottom line: "Frictionless" trading caused total retail option orders to maintain a level that is at least triple that of late 2019...
Global Asset Manager Rankings by US Equities, Part I
As of December 2023, there were ~7,200 asset managers who filed 13F reports. In collaboration with its development affiliates, Alphacution publishes its first exhibit to illustrate a ranking of this global asset manager universe by the value of their US equity holdings. To commemorate this development - and refresh those who may be new to Alphacution - we include a brief summary of key research milestones that led to this 'leveling up'... Access to global asset manager universe ranking chart available to Silver and Premium subscribers only. Upgrade to a Silver subscription to access this and other valuable Alphacution research...
Retail Option Market Share, Q1 2024 w Tradier, eToro
Alphacution provides its Q1 2024 update on the retail customer share of US equity option volume - including new data from Tradier, eToro, and Public.com - along with a teaser for our comparative model on option DARTs by broker...
