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...
Public.com: Early Post-Option Launch Stats, And Other Tasty Treats…
As promised, Alphacution provides an analysis of Public.com's first official months after the launch of its option offering to customers, along with a comparison of critical stats with other retail brokers. As a bonus, this Feed post also found its way into a deep dive on average option PFOF rates by broker, with specific findings on Tastytrade...
More Fun With Robinhood: Mea Culpas
Alphacution falls on its sword to admit errors in attribution of equity index option activity to Robinhood - and offers an explanation for why occasional mistakes like these are a necessary evil of our research process...
Citadel Securities, SIG: An Analysis of Single-Security vs Index Option Allocations
Alphacution compares the two largest players in US equity options - SIG affiliate, Susquehanna Securities and Citadel Securities - based on a 10-year period of allocations to single security options (SSOs) and equity index options, including indications of scale variance, key factor preferences, and strategy shifts...
