​Daily Bulletin: Thursday Jan. 15

Fund managers in Europe are increasingly pricing SMI dispersion after the Swiss National Bank today scrapped its policy of capping EUR/CHF, which has been in place for the last three years. Following the move by the central bank, Swiss stocks fell, with short term put flow in names including Novartis, Nestle and ABB. For SMI, the morning session on Thursday saw increased activity from investors in selling downside short-dated options. In the U.S., we take a look at what energy price declines is having on single stock option trading, with volumes increasing as investors determine take view on which stocks are at risk. Investors are looking at single stocks, over sector-based energy ETFs and indices, as they potentially provide better risk premia, according to some market participants. The Chicago Board Options Exchange also plans to launch extended trading hours for options on the Volatility Index and the S&P 500 in Q1.