Remy Blaire: Ahead of the chipmakers’ earnings next Tuesday and ahead of the trading day, let’s go out to Chicago. So FINTECH.TV contributor Errol Coleman is live from the Cboe trading floor. Hi, Errol, great to have you back. So tell us what market activity you’re tracking right now.
Errol Coleman: Yeah, I think it’s the elephant in the room right now, Remy. Nasdaq is up almost a full 3%, changing the total trajectory of where a lot of the momentum was over the last couple of weeks, crushing volatility back to the downside. We’re seeing levels below 20, and 20 has been that threshold where volatility starts to feel [unclear: “high and relatively low”]. Right now we’re sitting a few points below that 20-point threshold on volatility, so we’ll see where this momentum can take us. But no doubt some impressive volatility we’ve been seeing, and I know traders and investors have most likely been loving it, regardless of if you’ve been active in the market or not.
Remy Blaire: And another area that we’re keeping our eyes on at this noon hour is crypto. So of course, we’re keeping an eye on levels for both Bitcoin as well as ETH. But [unclear: “even this below 2100 and industry sentiment is back on fears”]. So looking at the prediction markets, Polymarket traders expect ETH to slip back below 2000 this month.
Errol Coleman: Yeah, you know, we haven’t seen much volatility in the crypto market. I know we’ve seen a little bit more of a shake-up with the Binance situation that we had about 7 to 14 days ago, but right now Polymarket is pricing in about a 79% chance that Ethereum reaches 2000. As you mentioned, we’ve gotten pretty close. And again, that 79% probability of touching 2000 is going to be within the month of November, so we have about 2 to 3 weeks left. Let’s see what we get.
One thing that is obvious on the options chain for the Ethereum products is that there have been some massive positions opened up in Ethereum today. We haven’t really seen any headlines for why that might be, but there’s definitely a lot of interest. And again, one more time, Remy, there’s a 79% probability that Polymarket is pricing in that we may see 2000. We got around 2049 on it. We’ve gotten pretty close, but we haven’t made it just yet.
Remy Blaire: Well, a lot to keep our eyes on as we head into the rest of this month. So appreciate your time, as well as all of your insights today.
Errol Coleman: Thank you, Remy. We’ll see you in a little bit.
