Here comes another derivatives attack on Bitcoin

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JPMorgan Sees 'High Anticipation' for CME Bitcoin Options Launch

By Joanna Ossinger
Bloomberg News
Friday, January 10, 2020

Institutional interest in Bitcoin-related contracts appears to be building and market measures indicate high anticipation of the launch of CME Group Inc. options on Monday, according to JPMorgan Chase & Co.

While a consortium known as Bakkt, which includes New York Stock Exchange parent Intercontinental Exchange Inc., began offering options last month, volumes and open interest have been "rather small," strategists led by Nikolaos Panigirtzoglou wrote in a note Jan. 10. Given the dominance of CME in trading Bitcoin futures on regulated exchanges, this new offering may change things, they said.

... Dispatch continues below ...



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"There has been a steep increase in the activity of the underlying CME futures contract" over the past few days, Panigirtzoglou wrote, noting that open interest has increased 69% from year-end, and that the number of large open-interest holders has grown. "This unusually strong activity over the past few days likely reflects the high anticipation among market participants of the option contract." ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2020-01-11/jpmorgan-sees-high-an...

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