When They Bail They Bail
March 3, 2020
Frank Fahey, options guru and veteran floor trader, leads off talking today’s market updates and conflicting situation of coronavirus. Joel Elconin of Benzinga calls in to briefly review the harsh reality of the disease and it’s consequences. Kenny Polcari, Managing Principal at ButcherJoseph Asset Management, LLC and a contributor to CNBC, joins the discussion and gives his opinion on coronavirus’s pandemic outbreak, hysterical decline of market and business for the nation. Special guest Mike Hart, veteran trader with Tastytrade and contributor to Luckbox Magazine, is in-studio for hour two talking surpassed issue of the virus and it’s impact on social, economic and political aspects, advantage of volatility index, maximization of returning capital and much more.
Guests & Co-Hosts
Frank Fahey is a multidisciplinary professional with over 30 years experience in Options Trading and Sales Management with an exceptional track record of superior results in high risk-reward corporate and entrepreneurial environments. He has been a member of both the Chicago Board Options Exchange and the Chicago Board of Trade. Frank is one of the few non-exchange employees certified to teach classes on advanced options strategy and options volatility on behalf of the Options Industry Council. Frank is consulting with an international agricultural cooperative to develop and implement strategies to use options to enhance hedging of their crops. He has worked a CBOE DPM, to develop Vega and gamma focused algorithms and methodologies for computer-based tools, and is the ad-hoc risk manager and consulting strategist for a private family hedge fund. Frank has developed presentations, seminars, webinars, and course content for the Chicago Board Options Exchange, the Options Industry Council, DiscoverOptions, OptionVue, PEAK6 University and CzechWealth (Prague).
Joel’s introduction to trading was in the Standard and Poor’s 500 Index futures pit at the Chicago Mercantile Exchange. Also, during his time at the CME, he was involved in Index Arbitrage as well as trading foreign currency futures and options. From 1994-1999 he was a proprietary trader for Olde Discount Corporation. Following his tenure at Olde Discount, he founded the Detroit office of Bright Trading, LLC. His responsibilities included trader recruitment, orientation and education as well as the day to day management of the office. He held this position office until 2003. Since 2003, Joel has been an independent trader researching and developing proprietary indicators and trading systems for the equities and futures markets. In 2007, Joel joined JC Trading Group as a Market Consultant and trading supervisor. He provides daily market commentary at www.premarketinfo.com. Joel obtained his Bachelor of Art in Political Science from the University of Michigan in 1985. Also, he is a graduate of the Chicago Mercantile Exchange Continuing Education Program. He also holds his Series 7 and 63 licenses and is a licensed real estate broker.
Kenny Polcari is a Managing Principal at Tengler Wealth Management responsible for client engagement and market commentary. Leveraging his extensive trading and equity markets background, Kenny is also a member of the ButcherJoseph Asset Management, LLC Investment Committee. Kenny works with Tengler Wealth clients directly as well as appearing in the financial media and publishing a regular market commentary newsletter.
Kenny came to Wall Street as a summer intern on the New York Stock Exchange during the summers of ’80, ’81 & ’82 and upon graduation moved from Boston, Mass. to New York City where he began his career on the trading floor. He became a member of the New York Stock Exchange in August, 1985 and prior to joining the ButcherJoseph Asset Management Team to help launch Tengler Wealth Management was a Managing Director at O’Neil Securities, Inc., representing the interests of institutional asset managers that need to access global equity markets. Earlier in his career, Kenny served as managing director at Icap Corps, LLC, and prior to that was senior vice president, member New York Stock Exchange and division manager with Salomon Brothers directing their NYSE Division during the heady bull market of the 1990’s.
His 30 plus years of experience have taken him from the birth of the greatest bull market, to the crash of ’87, the roaring ’90’s, the .com implosion, decimalization, 9/11, Regulation NMS, the merger between the NYSE / ARCA, then NYSE/Euronext, automation, HFT, and fragmentation. He is an engaging public speaker and you can find him speaking at industry & investor conferences, as well as colleges, forums and major asset manager events. He is at ease speaking about NYSE history, rules & regulation, former & current market structure including internalization, HFT and fragmentation and how those changes have forever changed the face of the U.S. capital markets and what that means to the investor. He writes a daily “Morning Thoughts” missive that is an informative, engaging and entertaining look at global markets and provides insight into the day’s action. It has gained wide popularity and has become a signature of his “boots on the ground” analytical style. He is a member of STA and NOIP and is a guest lecturer for The American College. He holds the series 7, 24, 27, 55, 63 registrations.
Mike Hart is a Tastytrade financial network personality and research team member. A veteran trader with expertise in futures and options, Mike is also a valued contributor to Luckbox Magazine – the control freak’s essential guide to life, money & probability. Luckbox is a monthly publication available on newsstands for $7.99 per issue. Stocks & Jocks listeners receive a FREE digital subscription at luckboxmagazine.com/jocks. Sign up today!