Market Concentration: 0DTE Option Volume by Product
Based on new data, Alphacution estimates the total zero days to expiration (0DTE) option volume attributable to index-related products...
Retail Stock Traders: Return to 201X?
Are retail investors becoming "burned out" on stocks? Alphacution makes its case...
US Stock Market Has Sprung A Strange Leak
The US equity securities "universe" demonstrated an unprecedented expansion from mid-2020 through mid-2022. Alphacution illustrates how this macro trend has turned - along with possible impacts - via the data of leading wholesale equity market makers...
PFOF Cage Match, Q1 2023
Alphacution shares highlights - and lots of charts - from the most recent trove of PFOF data...
0DTE SWAG: Retail Share of Index Options
Alphacution found a few grains of new data and used them to estimate the retail share of US equity index volume...
Case Study: “IMC Financial Markets and the 0DTE Option Boom”
In this 98-page, 115-exhibit, 22,400-word case study, “IMC: International Marketmakers Combination,” Alphacution publishes its findings on global option market maker and equity index option specialist, Amsterdam-based IMC BV and its affiliates, including – most notably – its US-based affiliate, IMC-Chicago, LLC (often known as IMC Financial Markets). Founded in 1989 by two floor traders on Amsterdam’s European Options Exchange, today IMC is one of only three Tier I proprietary trading firms with legacy in the 1980’s – along with legendary option trading houses, Philadelphia-based Susquehanna International Group, LLP and Amsterdam-based Optiver BV – and one of only eight “prop firms” globally with more than 1,000 employees. Beyond showcasing certain achievements, revenue, risk framework, and trading preferences of IMC, this case study – Alphacution’s 17th such report showcasing the world’s leading technology-enhanced trading firms – also provides context for the boom in zero days to expiry (0DTE) options and its impacts on a constellation of US option market makers… This and related case studies are available to premium and enterprise subscribers or via individual document purchase…
Simplex Trading: Speed Bump? What Speed Bump?!
Alphacution assembles new evidence related to option market maker, Simplex Trading
Market Terraforming: Zero-Day Options Alter Landscape
Alphacution showcases a subtle yet important impact of the explosive zero days to expiration (0DTE) phenomenon in US equity option markets...
Under 100 Milliseconds: G1X Enters The Arena…
Alphacution adds Susquehanna International Group (SIG) affiliate G1 Execution Services market center "ETMM" and 14 new charts to the ongoing comparison of execution speed/time that already includes Jane Street, Citadel Securities, and Virtu Financial. Again, with each step, this analysis yields new insights and increasing fascination...
Under 100 Milliseconds: Jane Street Enters The Picture
Alphacution adds Jane Street market center "JNST" and 18 new charts to the ongoing comparison of execution speed/time that already includes Citadel Securities and Virtu Financial. With each step, this analysis yields new insights and increasing fascination...
