The CBOE says the path is clear for Ethereum futures. Cryptos are up on the news. History suggests something else.
ZeroHedge reports CBOE Says SEC Decision "Clears Way" For Ether Futures.
Hooray! Ethereum Futures
What's Next?
Flashback December 11, 2017
On December 11, 2017, I mocked the launch of Bitcoin futures in BitCoin Mania Tweets of the Day.
Here are a few of them.
Quick Get Grandma In
Whopping Premium
History Repeats
So, will it be any different this time?
I don't know, nor does anyone else. But in the past I also noted people clamoring for JDSU LEAP options. They were launched right at the top. Here's some JDSU History.
During the 1990s, JDS Uniphase stock was a high-flyer tech stock investor favorite. Its stock price doubled three times and three stock splits of 2:1 occurred roughly every 90 days during the last half of 1999 through early 2000, making millionaires of many employees who were stock option holders, and further enabling JDS Uniphase to go on an acquisition and merger binge. After the telecom downturn, JDS Uniphase announced in late July 2001 the largest (up to then) write-down of goodwill. Employment soon dropped as part of the Global Realignment Program from nearly 29,000 to approximately 5,300, many of its factories and facilities were closed around the world, and the stock price dropped from $153 per share to less than $2 per share.
The theory behind the December Bitcoin mania cheering was the big boys could get in. Hedge funds and investors and ETFs would all push Bitcoin to $100,000 if not infinity.
Something else happened.
Don't worry about that. Just get grandma in. She'll thank you. Or not.