cboe effect is all the stronger the more authentic invasive and risky and intervention appears on surgery has a much greater placebo impact than just taking a pill. stephens our alliance team of assessors research ne arthroscopy is with the help of a matter analysis. they compared the data from eleven scientific studies with a total of one thousand two hundred patients. the testers say it's no coincidence that the weaknesses of arthroscopy weren't found out sooner. many of those involved in the healthcare system had a strong interest in keeping the myth alive. everyone had a collective belief that nice were benefiting from this patients were happy doctors were happy the industry was happy it was lovely and it had the magic taken out of it that's what's exciting is that you need it very crystallized scientific methods here to debunk the myth it isn't me just twenty. and some orthopedic specialists like stand offs the maya are still convinced by knee arthroscopy is and so the myth lives on. how can we get rid of myths from our minds once and for all. the cognition psychologist eka explains

according to the data from the cboe, open interest for call options is for calls than puts put options 10% below the market 228 levels were trading around 90 cents it costs a lot more on a relative basis to protect more than a 10% drop than to protect against a rise in the s&p. michelle, to be fair, downside protection costs more than upside protection. still, with the vix at these levels, some traders may be looking at buying some relatively cheaper insurance back over to you guys. >> thanks, dom, good run down. if you can you tell if options are expensive or cheap how can you buy protection mike is at the plasma with the call to action >> really there's two types of volatility that you want to concern yourself with if you're trying to establish whether or not you want to be a buyer or seller of options. the first one is implied volatility this is what you figure out if the options market is expecting the market to do in the future so when options premiums are high, you're expecting greater volatility this is what the market actually delivers we can take a look here, both are actually

the party of over all it's not less cboe effect is all the stronger the more authentic invasive thanrisky and intervention appears on surgery has a much greater placebo impact than just taking a pill. stephens our lines team of assessors research ne arthroscopy is with the help of a matter analysis. believe that nice we're benefiting from this patients were happy doctors were happy the industry was happy with us it was lovely and then it had the magic taken out of it that's what's exciting is that you need a very precise scientific methods here to debunk the myth it isn't me just twenty one. and some orthopedic specialists like stan austin meyer are still convinced by knee arthroscopy is and so the myth lives on. how can we get rid of myths from our minds once and for all. the cognition psychologist eka explains that the brain doesn't have a delete button once we've stored a myth it's difficult to overwrite it with new information. basically what he's discovered is that we're mentally lazy. feeling is that with many of the things we hear we don't have the interest or the motivation t

cboe effect is all the stronger the more authentic invasive than risky and intervention appears on surgeryhas a much greater placebo impact than just taking a pill. stephens our lines team of us ss research ne arthroscopy is with the help of a matter analysis. they compared the data from eleven scientific studies with a total of one thousand two hundred patients. the testers say it's no coincidence that the weaknesses of arthroscopy weren't found out sooner. many of those involved in the health care system had a strong interest in keeping the myth alive. everyone had a collective believe that nice we're benefiting from this patients were happy doctors were happy the industry was happy with us it was lovely and then it had the magic taken out of it that's what's exciting is that you need it very crystallized scientific methods here to debunk the myth it isn't me just twenty one. and some orthopedic specialists like spannaus the maya are still convinced by knee arthroscopy is and so the myth lives on. how can we get rid of myths from our minds once and for all. the cognition psychologist eka

lot of different ways to approach these questions but it's always a good idea to keep one eye on the cboe volatility index or the vix for short. more important vix is used for the proxy as a level of fear in the stock market when investors are scared the vix shoots higher when they feel confident the vix goes lower whether you look at the vix the action relative to the action of s&p 500. we care about the future we know that we just got through what many experts are calling the least volatile september on record that may be a bit of a stretch but it was undeniable if we follow september as the vix started being active over a decade ago we're going off the clarts with our vix expert he's the founder of auction pit.com. better handle on the current situation. it is so important if we're too complacent we know bad things will occur. before we get into the charts though, it's worth pointing out while the vix has been giving us remarkable readings, it's now closed low ten for week straight to give you a historical context, over the last 20 years, 20 years, vix has ended the month of september

the cboe is announcing they will go forward with that. they have an application pending.tandpoint, we look at a whole host of products that we would like to bring to market that we think there is a demand in to-- to participate mitigate the risks associated. i think cryptocurrency is in that round. we have yet to make a decision of how we will move forward in the crypto world. -- story isstories not over with. i not referring to the price of the crypto, i am referring to how it is dealt with in use of commerce. our objective is not to say how high or how low a product should be. it is how to manage that risk. if we get into the crypto business under the rules that we have in place at cme so the spec rules and everything else we can apply to it with our distribution, i think we could be successful in the crypto world. chairman and ceo terry duffy in the business of managing risk, thank you for joining us from chicago. abigail: let's get a check of the headlines on the bloomberg first word news with mark crumpton. mark: thank you. an event you saw on bloomberg television, p

but the whole race got revived when the cboe tried to enlist bitcoin futures. happened, you saw three new issuers jump in and say we will have a new bitcoin that distracts futures. they thought if there was a futures market, they would be having more institutional liquidity, it would make it easier for market makers and what happens underneath it is highly necessary to avoid what happens in gbtc which is this massive premium. at's why the majority of e.t.f.'s trade higher. so the bitcoin futures list which i estimate early next year, maybe mid 2018. you'll seize thee e.t.f.'s improve. alix: what about e.t.n.? >> it is what was working in sweden. sweden has become luke a crip to currency e.t.p. capital of the world. and that is why you have investors like mark cuban, goldman-sachs! modern are going all the way verseas to buy that. david: part of the problem and jamie diamond point this out is he is very susceptible to criminal use and governments are not liking that very much. cathie: it's interesting. i've listened to a lot of regulators and have the opportunit

i actually think what's interesting is the first quarter of 2018 we'll be getting futures cboe.ut of the there's a wall of institutional money that wants to get in but has been struggling to get in given how early it is. and that's definite something to watch out for, you know, within the next kind of next six months. do the work on the space is what i would urge listeners. >> rogoff is saying, i'm not saying that the technology is going to thrive and continue but the price of the currency is going to collapse. kay: i take the opposite kind of view. i think we're easily at 10,000 before the end of the first quarter and you know, for reference i was predicting last year when 700. we more than tripled this year which we have. i think 1,000,000 is ultraconservative. now does that mean bitcoin lasts in the long run? i don't know. but for now it's still very much on the upside. >> 100,000 in 10 years. we'll hold you to that. kay van-peterson joining us from singapore. we would like to take you to our tv function. you can watch us live but also see the previous interviewses, and the b

cbs, $40 lower in fact, there's a video of me interviewing a cboe market maker in cbs options these guys were absolutely shell shocked. and these big 4 or $5 chunks opening down 40 points, two hours late it was a unique experience not that we can't see something else like it and this time, it might be etfs, might be some other vehicle that precipitates and exacerbates the selling. >> peter, what is the thing that concerns you most in terms of the potential catalyst for the next crash >> you know what, look, we've had a lot of opportunities over the last year. anxiety around the world, whether it's korea, whether it's the administration in washington or any number of -- or the hurricanes, the disasters that could make this market anxious i think that there is a lot of money in the sidelines, people have been waiting for this market to break for the last nine months. and given all that potential anxiety, this market has hit record highs so i'm not fearful of it at this point. you know, we saw brexit, we saw the market after trump's election that could have been -- that was protected to be

which he thinks is positioned well, but somewhat misunderstood by the overall market then you have cboein the mooeft of a big pullback obviously everyone has their own shopping list, and that likelihood of a massive market failure is pretty small these days, but some investors are taking a fresh look at what they have in discounts, given the fact that we have that big anniversary. >> what we're hearing, i guess, it's good to know we don't have to worry every again that's because of the central banks. >> he with just print more >> japan does it i mean, we do it everybody. it's all the rage, joe >> well, i don't know. if my dollar is worth 12 cents, i'm not sure that's going to buy as much. that hachbts been the problem up to this point. it's asset inflation maybe. maybe want >> maybe >> all right thanks >>> making headlines, shares of cloud content provider bots are on the reez. the company won an fda contract to modernize the agency's cloud management platform. my cloud is going to be unhackable i got the idea today any cloud i deal with will be orbiting around anthem has announced plan

market crash phillip bennett tweets "i was 21 years old working as a floor clerk in ispx pit at the cboents a picture for you. >>> let's get back to futures indicated down across the board. that's off the weekend levels we saw earlier, most etfs only track a benchmark. flexshares etfs are built around the way investors think. with objectives like building capital for the future, managing portfolio risk and liquidity and generating income. that's real etf innovation. flexshares. built by investors, for investors. before investing consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully. ♪ it's not just a car, it's your daily treat. ♪ go ahead, spoil yourself. the es and es hybrid. experience amazing. >>> welcome back to "squawk box. uber board member ariana huffington speaking out on the future of the ride-hailing company. the company recovering from a rocky few months after the firm's ceo stepped down amidst all those scandals in an interview last night, huffington said uber is in recovery