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It's very difficult to predict volumes & volatility. Expense control, capital return & new products are controllable and CME is delivering. With a solid business humming along, I can buy and can be exposed to surprise volatility events as pure upside.
I think 30x 2021 EPS of $7.50 is not without reason. EPS moves up on new products and margin improvement. Multiple moves up on capital return & yield curve clarity. $7.50 X 30 = $225.00, ~30% above current prices.
