Investment Adviser Representative
Prior to starting Stutland Equities, LLC in 2005, and while studying for his Masters degree, Brian Stutland became a trader with LETCO, one of the principal trading groups on the Chicago Board Options Exchange ("CBOE"), where he managed portfolio positions and made options markets for blue chip and Internet stocks. By 2001, he assumed a new role as an individual Market Maker the day before 9/11, where he subsequently traded options successfully on that day and the following extraordinary collapse of the market.
Mr. Stutland established his own floor trading business in 2002, trading an entire portfolio of stocks as a proprietary market making CBOE Member. After forming Stutland Equities, he pioneered the shift to electronic options trading, becoming one of the first Remote Market Makers on the CBOE. By 2006, he continued to trail blaze as one of the first traders to assume positions in VIX Volatility futures and options. Mr. Stutland continues his involvement in the markets as a principal of the firm and trader for Stutland Equities, along with acting as principal of the investment advisory firm, The Stutland Volatility Group, LLC, in which he is actively involved in client portfolio risk management and investments attempting to generate better risk adjusted returns.*
Since 2006, Stutland Equities has been able to take advantage of the market's high volatility during the collapse of the housing market and rising oil prices, carrying large option positions to generate favorable returns. Mr. Stutland's wide range of experience, which includes making investments ranging from blue chips to distressed companies and even to Exchange seats, along with his record of trading large options positions in turbulent markets, has made him a successful trader on the trading floors of the CBOE.
Mr. Stutland is a frequent contributor of market commentary to the news media, social media and continues to write a blog with market updates given by he and his employees.
He graduated Cum Laude in 1997 from the University of Michigan with a B.S.E. in Chemical Engineering and later received a M.S.E. in Biomedical Engineering from the University of Michigan in 1999.
* All strategies vary by client circumstances and markets. The trading strategies used by Stutland Volatility Group do not guarantee any return, or that losses will not occur.
Investment Adviser Representative
Luke is a managing partner and is responsible for risk management and overall portfolio construction at Stutland.
Luke has over 25 years of experience trading equities, equity derivatives and structured products. Previously, he served as the largest independent market maker at CBOE for LETCO Trading (at the time, the largest listed equity options specialist firm in the United States), and became LETCO’s most profitable independent trader within the Designated Primary Market-Maker group. He subsequently managed the largest specialist unit at the CBOE, which, under Luke’s direction, became LETCO’s most profitable unit.
After Toronto Dominion Bank (TD) acquired LETCO in 2002, Luke launched TD’s U.S. Institutional Equity Derivatives desk for listed and OTC client orders and proprietary portfolio trading. The desk grew from zero volume to trading billions in notional value across US single names and indices. During this period, Luke traded with the largest overlay and volatility managers in North America.
After leaving TD, Luke established a FSA approved, UK asset manager, Peachtree Asset Management (the asset manager for Peachtree Settlement Funding), managing assets in the structured settlement space. In his dual role as CEO and Chief Investment Officer, Luke was responsible for financial, compliance and business decisions of the unit, in addition to all asset mix, selection and trading of structured portfolios.
Luke is a well-recognized expert in the derivatives industry and has been widely quoted or featured in the WSJ, Reuters, Dow Jones Newswire, TheStreet.com, The Financial Times, and Pensions and Investments.
He holds an MBA from the University of Chicago.
Joe Tigay began his career with Stutland Equities LLC. in 2005, working as a clerk on the Chicago Board of Options Exchange. He became a member trader of the Chicago Board of Options Exchange (CBOE) in 2008.
As a nominee trader of Stutland Equities LLC., Joe managed and traded a basket of equities as a remote market maker. Additionally, he made markets in the largest open outcry trading pit in the world, the S&P 500 pit of the CBOE. Currently, Joe is a market maker of VIX options.
Joe Tigay graduated from Michigan State University with a B.A. in Economics.