VIX® Futures Trading Strategies

Joe Tigay is Portfolio Manager at Equity Armor Investments. He began his career with Stutland Equities LLC. in 2005, working on the Cboe Options Exchange and specializing in electronic market making. In 2008, Mr. Tigay became a member trader of the Cboe Options Exchange. As a member trader, Joe was a very active market maker in both SPX and VIX options from 2008 to 2012. Joe utilizes this unique understanding of S&P, VIX options and futures to manage a volatility arbitrage fund. Discussing options, volatility, and market insight, Joe has appeared on Bloomberg, BNN, and has a regular segment on CBOE.tv. Joe graduated from Michigan State University with a B.A. in Economics. He currently holds licenses for Series 3, 56, 65.

Luke has over 25 years of experience trading equities, equity derivatives and structured products. Previously, he served as the largest independent market maker at CBOE for LETCO Trading (at the time, the largest listed equity options specialist firm in the United States), and became LETCO’s most profitable independent trader within the Designated Primary Market-Maker group. He subsequently managed the largest specialist unit at the CBOE, which, under Luke’s direction, became LETCO’s most profitable unit. After Toronto Dominion Bank (TD) acquired LETCO in 2002, Luke launched TD’s U.S. Institutional Equity Derivatives desk for listed and OTC client orders and proprietary portfolio trading. The desk grew from zero volume to trading billions in notional value across US single names and indices. During this period, Luke traded with the largest overlay and volatility managers in North America. After leaving TD, Luke established a FSA approved, UK asset manager, Peachtree Asset Management (the asset manager for Peachtree Settlement Funding), managing assets in the structured settlement space. In his dual role as CEO and Chief Investment Officer, Luke was responsible for financial, compliance and business decisions of the unit, in addition to all asset mix, selection and trading of structured portfolios. Luke is a well-recognized expert in the derivatives industry and has been widely quoted or featured in the WSJ, Reuters, Dow Jones Newswire, TheStreet.com, The Financial Times, and Pensions and Investments. He holds an MBA from the University of Chicago.

Sowmi Krishnamurthy is the founder and CEO of SK Market Insights Ltd., a company focused on developing quantitative investment and portfolio risk management strategies across all asset classes. Sowmi has over 30 years of commercial experience in the energy sector and during his career developed and executed trading strategies across crude and refined products in the US, European and Asian markets. He holds a doctorate in Chemical Engineering from the University of Pittsburgh and an MBA in finance from Drexel University. He is a Chartered Market Technician (CMT).

Matt Moran is Head of Index Insights at Cboe Options Institute. In this role, Moran is focused on the exchange's educational efforts for pension funds, Registered Investment Advisors (RIAs), mutual funds, and other institutional investors. He has traveled to more than 100 cities worldwide to educate investors and deliver financial presentations. Prior to joining Cboe, Moran served as Trust Counsel at Harris Bank and Vice President at the Chicago Mercantile Exchange. He is an associate editor of The Journal of Beta Investment Strategies and has written articles for several financial publications, including The Journal of Trading and The Journal of Alternative Investments. Moran holds MBA and JD degrees from the University of Illinois at Urbana-Champaign.