Latest news with #CBOE
CNBC
9 hours ago
- Business
- CNBC
Best Stocks: A unique financial stock riding the options boom with a chart sent from heaven
(This is The Best Stocks in the Market , brought to you by Josh Brown and Sean Russo of Ritholtz Wealth Management.) Josh — In 1973, The Chicago Board of Trade launched a subsidiary that would allow traders to place bets on a new standardized contract based on stock prices. These contracts, similar to but separate from the CBOT's bread-and-butter commodity futures products, were called options. They carved out a single trading pit on the floor for these stock option contracts and standardized how they worked. At first, there were options on just sixteen publicly traded companies, like IBM. In due time, more were added. Stocks were extraordinarily volatile in the mid-1970s with back-to-back bear markets and lots of opportunities for both speculation and protecting portfolios. The business was a hit. When the early 1980's bull market got underway, this "Chicago Board Options Exchange" or CBOE (usually pronounced as C-Bow) grew into a hive of trader activity. In 1983, the first contract on a stock market index came along when the CBOE unveiled its S & P 100 options offering. If you've ever seen the ticker "OEX" cross the bottom of your CNBC screen, that's the one. Cboe Global Markets (CBOE) is now one of the best financial services businesses in the world and this week it made the Best Stocks in the Market list. Ever since the next generation of retail traders came along during the pandemic, it's been a bull run for options trading. In its July 3, 2025 report, Cboe said that June 2025 trading volume hit a new all-time record. They reported the highest ever quarterly average daily volume for S & P 500 options at 3.7 million contracts, and zero‑day-to‑expiry (0DTE) options at 2.1 million contracts. Zero days to expiration trading — which we refer to as 0DTE — continues to boom. Did you know that over 60% of S & P 500 option trades are 0DTE? It's wild given how new this type of contract is. Retail traders are estimated to be responsible for over half of this activity. Sean's going to give you the set-up on Cboe stock, which has been moving in a tightly wound, neat little uptrend all summer long. I'll be back at the end with a risk management comment. Best Stock Spotlight: Cboe Global Markets Inc (CBOE) On the list since: 7/22/2025 Sean — Cboe Global Markets (CBOE) made it onto the list this week. When I pulled up the chart, I knew I had to show Josh right away. The stock's lack of volatility is remarkable as you can see in the logarithmic chart since inception. The lack of volatility has given the stock a beta of 0.43 compared to the overall market's beta of 1.0, which means CBOE has about half the volatility of the S & P 500. For obvious reasons, this makes for an attractive risk-reward and many portfolio managers love building allocations with stocks like these. Despite its lack of volatility, CBOE has been anything but quiet. The stock has massively outperformed the S & P 500 since coming public 15 years ago, returning a cumulative 854% (inclusive of dividends) since inception vs. a 647% total return for the S & P 500, or 16% annualized vs 14% for the S & P 500. (data via YCharts). Ever since the trading boom of 2020, CBOE's fundamental outlook has been stellar. The increase in trading activity has led to an increase in the need for exchange-traded products as well as the underlying data tied to those products. S & P 500 options trading volume has been growing 8% a year over the last five years, while VIX options volume has been growing at a 15% annual clip. In addition to the increased popularity of its trading products, CBOE is also in the midst of adding more recurring, higher-quality subscription products so they can become less reliant on transaction volume over time. Cboe's non-transaction revenue business includes Data and Access Solutions (DnA), providing data, infrastructure, and global market access to its customers. The exchange's infrastructure and proprietary market data are getting leveraged into recurring revenue streams through subscription-based services. Unlike transaction-based revenues that fluctuate with market volatility, their DnA business provides steady, predictable income that complements the trading business. Said otherwise, the firm is leveraging higher-quality revenue. You can expect the market to award this improvement in "earnings quality" with a higher multiple. From 2020 through their last reported quarter, CBOE has grown revenues 5%, operating income 13%, and diluted EPS 14% on an annualized basis. CBOE is due to report next week on Friday, August 1st. Analysts expect Revenue of $575M up 12% year-over-year and EPS of $2.43, up 13% year-over-year. (Data via Quartr) Risk Management: Josh: If this were heaven, and not earth, this is what every stock chart would look like and we would just buy them all. You can see below how perfectly the buyers came in to save this name from a 200-day trend break during the market volatility in April. Investors in this name know that volatility is actually a good thing if you're the largest options exchange and clearing operation in the world. Earnings next week could produce a blip, which I would most likely ignore so long as the company does the number and guides up. For shorter-term traders, I'd use 220 as a pivot point. It retested that level in mid-June and bounced off it clean. If it gets below, there might be better set-ups elsewhere. Investors should obey the rising 200-day and check back every Friday close. DISCLOSURES: (None) All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL'S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. INVESTING INVOLVES RISK. EXAMPLES OF ANALYSIS CONTAINED IN THIS ARTICLE ARE ONLY EXAMPLES. THE VIEWS AND OPINIONS EXPRESSED ARE THOSE OF THE CONTRIBUTORS AND DO NOT NECESSARILY REFLECT THE OFFICIAL POLICY OR POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC. JOSH BROWN IS THE CEO OF RITHOLTZ WEALTH MANAGEMENT AND MAY MAINTAIN A SECURITY POSITION IN THE SECURITIES DISCUSSED. ASSUMPTIONS MADE WITHIN THE ANALYSIS ARE NOT REFLECTIVE OF THE POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC" TO THE END OF OR OUR DISCLOSURE. Click here for the full disclaimer.
Hamilton Spectator
11 hours ago
- Business
- Hamilton Spectator
Middlefield Innovation Dividend ETF Distributions
TORONTO, July 24, 2025 (GLOBE NEWSWIRE) — Middlefield Innovation Dividend ETF (CBOE: MINN) (the 'Fund') is pleased to announce that distributions for the third quarter of 2025 will be payable to unitholders of Middlefield Innovation Dividend ETF as follows: The trust units trade on Cboe Canada under the symbol MINN. The Fund offers a distribution reinvestment plan ('DRIP') for unitholders which provides unitholders with the ability to automatically reinvest distributions, commission free, and realize the benefits of compound growth. Unitholders can enroll in the DRIP program by contacting their investment advisor. Middlefield Founded in 1979, Middlefield is a specialist equity income asset manager with offices in Toronto, Canada and London, England. Our investment team utilizes active management to select high-quality, global companies across a variety of sectors and themes. Our product offerings include proven dividend-focused strategies that span real estate, healthcare, innovation, infrastructure, energy, diversified income and more. We offer these solutions in a variety of product types including ETFs, Mutual Funds, Closed-End Funds, Split-Share Funds and Flow-through LPs. For further information, please visit our website at or contact Nancy Tham in our Sales and Marketing Department at 1.888.890.1868. This press release contains forward-looking information. The forward-looking information contained in this press release is based on historical information concerning distributions and dividends paid on the securities of issuers historically included in the portfolio of the Fund. Actual future results, including the amount of distributions paid by the Fund, may differ from the monthly distribution amount. Specifically, the income from which distributions are paid may vary significantly due to: changes in portfolio composition; changes in distributions and dividends paid by issuers of securities included in the Fund's portfolio from time to time; there being no assurance that those issuers will pay distributions or dividends on their securities; t he declaration of distributions and dividends by issuers of securities included in the portfolio will generally depend upon various factors, including the financial condition of each issuer and general economic and stock market conditions; the level of borrowing by the Fund; and the uncertainty of realizing capital gains. The risks, uncertainties and other factors that could influence actual results are described under 'Risk Factors' in the Fund's prospectus and other documents filed by the Fund with the Canadian securities regulatory authorities. The forward-looking information contained in this press release constitutes the Fund's current estimate, as of the date of this press release, with respect to the matters covered hereby. Investors and others should not assume that any forward-looking statement contained in this press release represents the Fund's estimate as of any date other than the date of this press release.
Cision Canada
2 days ago
- Business
- Cision Canada
DeFi Technologies' Subsidiary Valour, Surpasses US$1 Billion in Assets Under Management
Valour Surpasses US$1 Billion in AUM: As of July 22, 2025, Valour's AUM reached US$1.01 billion, a 31% increase since May 30, driven by strong investor demand and rising digital asset prices across its globally diversified ETP portfolio. Global Expansion: Valour is expanding into high-growth markets including Asia, Africa, the Middle East, through strategic partnerships with AsiaNext, SovFi, the Nairobi Securities Exchange, and Misyon Bank. Recurring Revenue Growth: Valour continues to scale its vertically integrated model, generating recurring income through staking, lending, and management fees, with an 8% blended yield on staked AUM delivering pure profit to the company. TORONTO, July 22, 2025 /CNW/ - DeFi Technologies (the " Company" or " DeFi Technologies") (Nasdaq: DEFT) (CBOE CA: DEFI) (GR: R9B), a financial technology company bridging the gap between traditional capital markets and decentralized finance ("DeFi"), is pleased to announce that its subsidiary, Valour Inc., and Valour Digital Securities Limited (together, " Valour"), a leading issuer of exchange traded products (" ETPs") has surpassed US$1 billion in assets under management ("AUM"). As of July 22, 2025, Valour's AUM stands at US$1,009,993,748 (C$1.38 billion), representing a 31% increase from US$771 million on May 30, 2025. This milestone reflects both continued investor demand for regulated digital asset products and the rising market value of the underlying digital assets that make up Valour's product mix. Valour currently offers the most diverse array of digital asset ETPs globally, giving investors access to a broad spectrum of cryptocurrencies, including major Layer 1s, staking assets, and emerging tokens—positioning the firm to capture upside across multiple market segments. Strategic Global Growth and Product Innovation Valour continues to cement its leadership in regulated digital asset ETPs, with over 75 listed products across European exchanges. The Company remains focused on expanding investor access to secure, transparent, and compliant digital asset exposure. To complement its European footprint, Valour is actively expanding into high-growth international markets, including Asia, Africa, and the Middle East: In Asia, Valour has signed MOUs with AsiaNext and SovFi to list its ETPs on regulated exchanges in Singapore and beyond. In Africa, a partnership with the Nairobi Securities Exchange (NSE) is paving the way for the creation, issuance, and trading of digital asset ETPs across the continent. In Turkiye, DeFi Technologies and its subsidiary Valour are collaborating with Misyon Bank and Misyon Kripto to introduce a suite of innovative ETPs, offering Turkish investors institutional-grade exposure to assets like Bitcoin and Ethereum through familiar, regulated investment channels. These partnerships position Valour as a first mover in emerging markets with rapidly maturing digital asset infrastructure and regulatory clarity. Monetizing AUM Through Vertical Integration Valour generates revenue through a vertically integrated model that combines staking, lending, and management fees: In Q1 2025, Valour earned US$10 million in staking and lending income and US$2.6 million in management fees. Valour captures a blended yield of approximately 8% on its staked AUM—retaining this yield as profit without passing it through to investors. This approach enables Valour to generate recurring, protocol-driven cash flows, supporting sustainable growth and expanding margins as AUM increases. "Crossing the $1 billion mark once again is not just a milestone—it's a clear signal of strong market confidence in our platform," said Olivier Roussy Newton, CEO of DeFi Technologies. "Valour is delivering differentiated, regulated digital asset products at scale, and our global expansion strategy is already unlocking new market opportunities. We remain laser-focused on building a world-class ETP platform that captures value from every layer of the digital asset economy." About DeFi Technologies DeFi Technologies Inc. (Nasdaq: DEFT) (CBOE CA: DEFI) (GR: R9B) is a financial technology company bridging the gap between traditional capital markets and decentralized finance (" DeFi"). As the first Nasdaq-listed digital asset manager of its kind, DeFi Technologies offers equity investors diversified exposure to the broader decentralized economy through its integrated and scalable business model. This includes Valour, which offers access to over sixty-five of the world's most innovative digital assets via regulated ETPs; Stillman Digital, a digital asset prime brokerage focused on institutional-grade execution and custody; Reflexivity Research, which provides leading research into the digital asset space; Neuronomics, which develops quantitative trading strategies and infrastructure; and DeFi Alpha, the company's internal arbitrage and trading business line. With deep expertise across capital markets and emerging technologies, DeFi Technologies is building the institutional gateway to the future of finance. Follow DeFi Technologies on LinkedIn and X/Twitter, and for more details, visit DeFi Technologies Subsidiaries About Valour Valour Inc. and Valour Digital Securities Limited (together, " Valour") issues exchange traded products (" ETPs") that enable retail and institutional investors to access digital assets in a simple and secure way via their traditional bank account. Valour is part of the asset management business line of DeFi Technologies. For more information about Valour, to subscribe, or to receive updates, visit About Reflexivity Research Reflexivity Research LLC is a leading research firm specializing in the creation of high-quality, in-depth research reports for the bitcoin and digital asset industry, empowering investors with valuable insights. For more information please visit About Stillman Digital Stillman Digital is a leading digital asset liquidity provider that offers limitless liquidity solutions for businesses, focusing on industry-leading trade execution, settlement, and technology. For more information, please visit About Neuronomics AG Neuronomics AG is a Swiss asset management firm specializing in AI-powered quantitative trading strategies. By integrating artificial intelligence, computational neuroscience and quantitative finance, Neuronomics delivers cutting-edge solutions that drive superior risk-adjusted performance in financial markets. For more information please visit Cautionary note regarding forward-looking information: This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to the growth of AUM; geographical expansion of Valour's range of ETPs; MOUs; expansion of digital asset ETPs; investor interest and confidence in digital assets; the regulatory environment with respect to the growth and adoption of decentralized finance; the pursuit by the Company and its subsidiaries of business opportunities; and the merits or potential returns of any such opportunities. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, but is not limited the acceptance of Valour exchange traded products by exchanges; growth and development of decentralised finance and digital asset sector; rules and regulations with respect to decentralised finance and digital assets; general business, economic, competitive, political and social uncertainties. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Toronto Star
2 days ago
- Business
- Toronto Star
VERSES® Announces Corporate Update Webinar and Ticker Symbol Change
VANCOUVER, British Columbia, July 22, 2025 (GLOBE NEWSWIRE) — VERSES AI Inc. (CBOE: VERS) (OTCQB: VRSSF) ('VERSES'' or the 'Company'), a cognitive computing company specializing in next-generation agentic software systems, announces a corporate update webinar for investors. On Tuesday, July 29th at 9:30 AM Pacific Time, VERSES Co-Founder and CEO Gabriel René and President James Hendrickson will host a live webinar and Company update that will provide the latest developments on Genius™, VERSES' next generation platform for intelligent software agents. This webinar will also provide a discussion of the Company's business strategy, developments to date, and upcoming roadmap.
Cision Canada
2 days ago
- Business
- Cision Canada
BTQ Technologies Corp. Announces Closing of C$40 Million Prospectus Offering Led by a New Fundamental Long-Term Investor English
VANCOUVER, BC and TAIPEI, Taiwan, July 11, 2025 /CNW/ - BTQ Technologies Corp. (" BTQ" or the " Company") (CBOE CA: BTQ) (FSE: NG3) (OTCQX: BTQQF), a global quantum technology company focused on securing mission-critical networks is pleased to announce the closing of its public offering (the " Offering") pursuant to a prospectus supplement dated July 9, 2025 (" Prospectus Supplement") to the Company's short form base shelf prospectus dated April 29, 2025 (" Base Shelf"). The Offering was led by a new fundamental, long-term institutional investor, alongside participation from existing shareholders and new high-quality institutional investors. The Offering was completed on a best-efforts agency basis pursuant to an agency agreement (the " Agency Agreement") between the Company and A.G.P. Canada Investments ULC (the " Agent") dated July 9, 2025. Pursuant to the Offering, the Company has issued 5,555,555 common shares of the Company (" Common Shares") at a price of C$7.20 per Common Share, for aggregate gross proceeds of approximately C$40,000,000. The Agent acted as the sole bookrunner and agent for the Offering and A.G.P./Alliance Global Partners acted as sole U.S. placement agent for the Offering. The Company intends to use the net proceeds from the Offering for general corporate purposes, working capital and to accelerate the development of both hardware and software products and potential acquisitions. Pursuant to the terms of the Agency Agreement, the Company paid the Agent a cash fee equal to 7% of the gross proceeds from the Offering and issued to the Agent non-transferable broker warrants (the " Broker Warrants") equal to 2.5% of the total number of Common Shares sold pursuant to the Offering. Each Broker Warrant will be exercisable for one Common Share at a price of C$12.60 per Broker Warrant and is exercisable for a period of 60 months following the completion of the Offering. The Prospectus Supplement, Base Shelf and continuous disclosure documents are available on SEDAR+ at and contain important information about the Offering and the Company. The securities to be offered pursuant to the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act") or under any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S under the U.S. Securities Act) absent registration or any applicable exemption from the registration requirements under the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. About BTQ BTQ Technologies Corp. (Cboe CA: BTQ | FSE: NG3 | OTCQX: BTQQF) is a vertically integrated quantum company accelerating the transition from classical networks to the quantum internet. Backed by a broad patent portfolio, BTQ pioneered the industry's first commercially significant quantum advantage and now delivers a full-stack, neutral-atom quantum computing platform with end-to-end hardware, middleware, and post-quantum security solutions for finance, telecommunications, logistics, life sciences, and defense. Forward-Looking Information: Certain statements or information contained in this news release may constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws (collectively, " forward-looking information"). Such forward-looking information includes but is not limited to statements or information with respect to the business plans of the Company, including with respect to its research partnerships, its development of hardware and software products, its potential acquisitions, and its use of proceeds from the Offering. Forward-looking information often can be identified by the use of words such as "anticipate", "intend", "expect", "plan" or "may" and the variations of these words are intended to identify forward-looking information. The Company has made numerous assumptions including, without limitation, assumptions about: general business and economic conditions; that net proceeds from the Offering will accelerate the development of both hardware and software products and potential acquisitions; the nature of investors who participated in the Offering; and the development of post-quantum algorithms and quantum vulnerabilities, and the quantum computing industry generally. The foregoing list of assumptions is not exhaustive. Although management of the Company believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking information herein will prove to be accurate. Forward-looking information is based on assumptions and involve known and unknown risks which may cause actual results to be materially different from any future results, expressed or implied, by such forward-looking information. These factors include risks relating to: the availability of financing for the Company; business and economic conditions in the post-quantum and encryption computing industries generally; the speculative nature of the Company's research and development programs; the supply and demand for labour and technological post-quantum and encryption technology; unanticipated events related to regulatory and licensing matters and environmental matters; changes in general economic conditions or conditions in the financial markets; changes in laws (including regulations respecting blockchains); risks related to the impact on general economic conditions, the ability to obtain financing as required, and causing potential delays to research and development activities; and other risk factors as detailed from time to time. More information about the risks and uncertainties affecting the Company's business can be found in the " Risk Factors" section of its Annual Information Form for the year ended December 31, 2024 and in the Company's most recently filed management's discussion and analysis, copies of which are available under the Company's profile on SEDAR+ at The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. SOURCE BTQ Technologies Corp.
