Traders hit by low levels of vol

The drop in equity implied volatility over the past few months has hit a number of so-called vol funds, with several racking up losses and at least one deciding to sell its options portfolio.

First New York, a privately held prop house, sold its options business on September 22 in an auction reported exclusively by Risk. Société Générale (SG) beat four other bidders to snap up the portfolio of around 900,000 options contracts plus stock.

First New York's managing partner, Don Motschwiller, sums

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What gold's rise means for rates, equities

It has been several years since we have seen volatility in gold. An increase in gold volatility can typically be associated with a change in sentiment and investor behavior. The precious metal has surged this year on increased demand for safe haven…

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