CBOE seems caught in no man’s land. Vix is paralyzed, cash equities is fiercely competitive and the S&P options biz is good but not enough to compete with the big dogs for investor wallet share...
CBOE earnings snapshot: Revenue +5% YoY Expenses -7% Op Profit +12% EPS +16% Raised expense guidance to account for EuroCCP, rest unchanged:pic.twitter.com/TLRfehdvHt
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Certainly dont disagree. CBOE’s strategy to combat this is 1) invest heavily in Europe 2) improve equities technology (CBOE market close, periodic auctions, etc...) 3) mini-VIX launch 4) more data M&A Future looks un-exciting but the stock is cheap
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