Gunjan Banerji

speaker

560 appearances 12 recordings 1 series first heard Apr 2018 last heard Nov 2024

Gunjan Banerji’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · After-Hours Trading Volume Soars During the Pandemic · 22 Apr 2020 podcast

So these are kind of the first places in the market that we see reactions to this type of news. matched

And it can lead to declines overnight. matched

And one way we can see that is if you bought the closing price of the biggest S&P 500 ETF and sold it the next morning, you would get a negative 20-something return this year. matched

Whereas if you bought the opening price of that ETF and you sold it at the close, you would generate almost a 10% return for the year. matched

So that's kind of one way of seeing, hey, some of these big moves overnight are actually to the downside. matched

Definitely. matched

You know, I spoke to traders who said, hey, instead of logging off at 6 p.m., you know, I log off, I spend some time with my family, and then I'm signing back on to check on the futures market. matched

One broker I spoke to said that his firm has actually enlisted an extra trader to work overnight and take orders for clients because demand has just been so heavy in the overnight market. matched

So now they have two traders arrive around 2.30 a.m., matched

Eastern Standard Time before the overnight S&P 500 and VIX options market kicks off. matched

So these traders are working all night long and people are definitely keeping an eye on this market right before they go to bed. matched

At least one exchange operator that I spoke to, SIBO Global Markets, they oversee options trading and some futures trading. matched

They have extended some of their trading to kind of cater to people abroad, whether it's in Europe or Asia. matched

know what's really interesting is that these types of contracts futures contracts you have to be pretty sophisticated to trade these things it's not something a typical mom and pop investor would necessarily trade but what i heard was that vix futures and those are futures tied to the vix recently there's been an uptick in retail investors trading them in places like taiwan and and australia matched

That's a really good question because what I have been hearing is that things can get really choppy overnight. matched

And some people have said that it can actually be tougher to get in or out of your positions overnight. matched

And that's what might be causing some of this outsized volatility we've been seeing in the markets, the overnight markets this year. matched

That is definitely true. matched

Many people I spoke to, they are sophisticated options traders or futures traders. matched

And they're definitely professionals who who've spotted an opportunity. matched

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