Closing  rotation refers to the days at the Chicago Board Options Exchange on expiration Friday after the 3:00 pm market closed when a series of  options were retired and the prices settled for the very last time.

In  these latest episodes of The Blockchain Advisor™ we go back to our  roots at the start of the modern-day derivatives market as we interview  floor traders and brokers from Chicago Board Options Exchange. The start  of the bull market in 1982 was a special moment in time we shared on  the trading floor! The Crash of 1987 is an event that left an indelible mark on our psyche and taught us the meaning of tail risk as opening rotation volatility of options exceed 300%.

In  this time of high speed algorithmic trading, we can't forget the  stories and  experiences of those who were the founding members of  today's derivative market.

We  live in a world of high-speed algorithmic trading, dark pools and  smartphone investing apps. Decentralized finance or DeFi using  blockchain technology is coming at supersonic speed.

The  SEC and CFTC are struggling to regulate decentralized cryptocurrency  exchanges, stable coins and decentralized lending. In our Closing  Rotation series we interview and pay tribute to those people who risked  personal capital and created today’s modern derivatives market.

Cenacle Capital Management. Bridging the Gap Between Traditional Investing and Digital Assets. www.cenaclecapital.com