Retail activity, product innovation and low correlation are reshaping volatility and creating opportunity.
In a podcast recorded on January 16, 2026, Tanvir Sandhu, chief global derivatives strategist at Bloomberg Intelligence, and Maxwell Grinacoff, head of US equity derivatives research at UBS, addressed the market dynamics most disruptive to equity derivatives: retail-driven flows and structured products. Derivative-based ETFs, single-stock leveraged ETFs, and zero-day-to-expiry options are now central to short-term volatility and skew - Tanvir Sandhu “Post-Covid retail demand has