Quirk Steven M. sold $931K of HOOD

The SEC approved binary options tied to Coinbase's trading volume, MARA's Bitcoin production, and Robinhood's metrics. These contracts pay out if specified conditions are met, with settlement in cash. Coinbase's indicators include trading volume and revenue, while MARA's include Bitcoin production. The options trade on regulated exchanges under existing securities protections.

The SEC approved Cboe's binary options tied to KPIs of 23 public companies, including Coinbase (COIN), MARA, and Robinhood (HOOD). The options allow investors to bet on specific company metrics. Cboe expects to launch the contracts in October, pending clearing approval. COIN's metrics include revenue and trading volume, while MARA's include Bitcoin production and holdings.

Cboe Global Markets (CBOE) received SEC approval to launch KPI-based options for 23 U.S. companies, including Apple, Alphabet, and Nvidia, in partnership with Robinhood (HOOD). CBOE shares rose 3.9%, while HOOD fell 8.7%. CBOE is trading at $305.25, 52.3% above its GF Value™ of $200.43, with a GF Score™ of 89/100.

Bitcoin fell below $82,000 after U.S. inflation data showed a higher-than-expected annual increase to 3.7%, raising concerns about potential Federal Reserve rate hikes. Ether and XRP also declined, with crypto-linked stocks like Robinhood Markets (HOOD) down 3.27%.

The SEC approved Cboe's application to list KPI-linked options, partnering with Robinhood. Cboe's stock rose 3.9%, while Robinhood's fell 8.7%. The options include KPIs from 23 U.S.-listed companies, such as Apple, Alphabet, JPMorgan Chase, Robinhood, and Nvidia. The SEC noted similar products may fall under CFTC authority.

Robinhood Markets (HOOD) fell 5.1% to $104.86. Wolfe Research downgraded it to Peer Perform, citing valuation. Wells Fargo cut its target to $120. The stock trades at a P/E of 49. Broader market declines added pressure. Q3 earnings are due October 27, with expected revenue of $1.43B.