Trump said he will raise tariffs on $250 billion in Chinese goods to 30%, and hike duties on another $300 billion in products to 15%.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
The death comes as federal and state health officials investigate a slew of lung illnesses in connection to e-cigarette use.Health and Scienceread more
Supreme Court Justice Ruth Bader Ginsburg has completed a three-week course of radiation therapy for cancer, the top court said in a statement Friday.Politicsread more
Multinationals that rely on the supply chain from China are tumbling after President Donald Trump ordered them to find alternatives to their Chinese operations.Marketsread more
In just one week, options contracts with an expiration of 20 minutes have become the second most popular offering on trading platform Nadex, as investors seek faster and faster gratification.
The contracts were launched last week with little fanfare by Nadex, the leading provider of binary options in North America. The company offers options with many durations and did not expect the tremendous level of early interest it's seen. Hourly contracts remain the most popular kinds of options on the company's platform.
Twenty-minute options account for 15 percent of total volume on Nadex today. These extremely short-term options are available for trading on the S&P 500, and Index futures, as well as Dow Jones Industrial Average futures.
"This is trading," said Nadex CEO Tim McDermott. "The 20-minute contracts offer great opportunities."
Binary options differ from vanilla options because they have only two outcomes: a fixed amount or nothing. Such yes/no bets aren't prevalent on the major U.S. options exchanges because of their risk profile and lack of popularity to date.
Critics argue these kinds of options, especially ones with such short time horizons, amount to little more than buying a lottery ticket and have no basis in the fundamentals.
"I can't think of a single reason why I would trade this product," said Dan Nathan, an options trader and creator of RiskReversal.com.
McDermott's response: "You can't trade your lotto ticket."
The overall binary options market is growing at a faster pace than the rest of the options market. Nadex traded 3 million contracts so far in 2014, already more than the 2.3 million done in all of 2013 by the site. Overall, options trading is up 5 percent in 2014 over last year, according to Options Clearing Corp.
"We really saw the levels of trading in our two-hour binaries increase in the last two minutes of their life, so that's why we created the 20-minute contract," said McDermott. He said he sees continued growth for his company, especially as such options become better known in the U.S.
Binary options are more commonplace in the United Kingdom and the rest of Europe.
In the United States, many binary options are offered on the Internet without regulatory oversight. The Securities and Exchange Commission and Commodity Futures Trading Commission have warned investors about fraud by some of those sites. Chicago-based Nadex is regulated by the CFTC.