Investment Portfolio Strategies Based On Options Market Activity

We propose a multiple regression model that incorporates options market activity to forecast future stock prices. To capture the information content from the options market, we use a predictor based on the activity of call and put options as measured by relative open interest across available strike prices.  We use a sample of stocks with actively traded options on the Chicago Board Options Exchange to test the model. Investment strategies that use these forecasts are shown to be superior to more simple strategies which ignore options market activity

Quality of PIN estimates and the PIN-return relationship

Keywords: Probability of informed trading PIN-return relationship Quality of PIN estimates a b s t r a c t This paper provides new evidence concerning the probability of informed trading (PIN) and the PIN-return relationship. We take measures to overcome known estimation biases and improve the quality of quarterly PIN estimates. We use the average of a firm's PIN estimates in four consecutive quarters to smooth out the effect of seasonal variation in trading activities. We find that when high-quality PIN estimates are used, the Fama-MacBeth cross-sectional regressions show stronger evidence for the positive PIN-return relationship than documented in the prior literature. This finding is robust to controls for the January, liquidity, and momentum effects

Contactless Haptic Display Through Magnetic Field Control

Haptic rendering enables people to touch, perceive, and manipulate virtual objects in a virtual environment. Using six cascaded identical hollow disk electromagnets and a small permanent magnet attached to an operator's finger, this paper proposes and develops an untethered haptic interface through magnetic field control. The concentric hole inside the six cascaded electromagnets provides the workspace, where the 3D position of the permanent magnet is tracked with a Microsoft Kinect sensor. The driving currents of six cascaded electromagnets are calculated in real-time for generating the desired magnetic force. Offline data from an FEA (finite element analysis) based simulation, determines the relationship between the magnetic force, the driving currents, and the position of the permanent magnet. A set of experiments including the virtual object recognition experiment, the virtual surface identification experiment, and the user perception evaluation experiment were conducted to demonstrate the proposed system, where Microsoft HoloLens holographic glasses are used for visual rendering. The proposed magnetic haptic display leads to an untethered and non-contact interface for natural haptic rendering applications, which overcomes the constraints of mechanical linkages in tool-based traditional haptic devices

Two hAT transposon genes were transferred from Brassicaceae to broomrapes and are actively expressed in some recipients

A growing body of evidence is pointing to an important role of horizontal gene transfer (HGT) in the evolution of higher plants. However, reports of HGTs of transposable elements (TEs) in plants are still scarce, and only one case is known of a class II transposon horizontally transferred between grasses. To investigate possible TE transfers in dicots, we performed transcriptome screening in the obligate root parasite Phelipanche aegyptiaca (Orobanchaceae), data-mining in the draft genome assemblies of four other Orobanchaceae, gene cloning, gene annotation in species with genomic information, and a molecular phylogenetic analysis. We discovered that the broomrape genera Phelipanche and Orobanche acquired two related nuclear genes (christened BO transposase genes), a new group of the hAT superfamily of class II transposons, from Asian Sisymbrieae or a closely related tribe of Brassicaceae, by HGT. The collinearity of the flanking genes, lack of a classic border structure, and low expression levels suggest that BO transposase genes cannot transpose in Brassicaceae, whereas they are highly expressed in P. aegyptiaca

Molecular Characterization of the 14-3-3 Gene Family in Brachypodium distachyon L. Reveals High Evolutionary Conservation and Diverse Responses to Abiotic Stresses

The 14-3-3 gene family identified in all eukaryotic organisms is involved in a wide range of biological processes, particularly in resistance to various abiotic stresses. Here, we performed the first comprehensive study on the molecular characterisation, phylogenetics and responses to various abiotic stresses of the 14-3-3 gene family in Brachypodium distachyon L.. A total of seven 14-3-3 genes from B. distachyon and 120 from five main lineages among 12 species were identified, which were divided into five well-conserved subfamilies. The molecular structure analysis showed that the plant 14-3-3 gene family is highly evolutionarily conserved, although certain divergence had occurred in different subfamilies. The duplication event investigation revealed that segmental duplication seemed to be the predominant form by which the 14-3-3 gene family had expanded. Moreover, seven critical amino acids were detected, which may contribute to functional divergence. Expression profiling analysis showed that BdGF14 genes were abundantly expressed in the roots, but showed low expression in the meristems. All seven BdGF14 genes showed significant expression changes under various abiotic stresses, including heavy metal, phytohormone, osmotic, and temperature stresses, which might play important roles in responses to multiple abiotic stresses mainly through participating in ABA-dependent signalling and reactive oxygen species-mediated MAPK cascade signalling pathways. In particular, BdGF14 genes generally showed upregulated expression in response to multiple stresses of high temperature, heavy metal, abscisic acid (ABA), and salicylic acid (SA), but downregulated expression under H2O2, NaCl, and polyethylene glycol (PEG) stresses. Meanwhile, dynamic transcriptional expression analysis of BdGF14 genes under longer treatments with heavy metals (Cd2+, Cr3+, Cu2+, and Zn2+) and phytohormone (ABA) and recovery revealed two main expression trends in both roots and leaves: up-down and up-down-up expression from stress treatments to recovery. This study provides new insights into the structures and functions of plant 14-3-3 genes

EVD Surgical Guidance with Retro-Reflective Tool Tracking and Spatial Reconstruction using Head-Mounted Augmented Reality Device

Augmented Reality (AR) has been used to facilitate surgical guidance during External Ventricular Drain (EVD) surgery, reducing the risks of misplacement in manual operations. During this procedure, the pivotal challenge is the accurate estimation of spatial relationship between pre-operative images and actual patient anatomy in AR environment. In this research, we propose a novel framework utilizing Time of Flight (ToF) depth sensors integrated in commercially available AR Head Mounted Devices (HMD) for precise EVD surgical guidance. As previous studies have proven depth errors for ToF sensors, we first conducted a comprehensive assessment for the properties of this error on AR-HMDs. Subsequently, a depth error model and patient-specific model parameter identification method, is introduced for accurate surface information. After that, a tracking procedure combining retro-reflective markers and point clouds is proposed for accurate head tracking, where head surface is reconstructed using ToF sensor data for spatial registration, avoiding fixing tracking targets rigidly on the patient's cranium. Firstly, $7.580\pm 1.488 mm$ ToF sensor depth value error was revealed on human skin, indicating the significance of depth correction. Our results showed that the ToF sensor depth error was reduced by over $85\%$ using proposed depth correction method on head phantoms in different materials. Meanwhile, the head surface reconstructed with corrected depth data achieved sub-millimeter accuracy. Experiment on a sheep head revealed $0.79 mm$ reconstruction error. Furthermore, a user study was conducted for the performance of proposed framework in simulated EVD surgery, where 5 surgeons performed 9 k-wire injections on a head phantom with virtual guidance. Results of this study revealed $2.09 \pm 0.16 mm$ translational accuracy and $2.97\pm 0.91 ^\circ$ orientational accuracy

Knockout of the S-acyltransferase Gene, PbPAT14, Confers the Dwarf Yellowing Phenotype in First Generation Pear by ABA Accumulation.

The development of dwarf fruit trees with smaller and compact characteristics leads to significantly increased fruit production, which is a major objective of pear (Pyrus bretschneideri) breeding. We identified the S-acylation activity of PbPAT14, an S-acyltransferase gene related to plant development, using a yeast (Saccharomyces cerevisiae) complementation assay, and also PbPAT14 could rescue the growth defect of the Arabidopsis mutant atpat14. We further studied the function of PbPAT14 by designing three guide RNAs for PbPAT14 to use in the CRISPR/Cas9 system. We obtained 22 positive transgenic pear lines via Agrobacterium-mediated transformation using cotyledons from seeds of Pyrus betulifolia ('Duli'). Six of these lines exhibited the dwarf yellowing phenotype and were homozygous mutations according to sequencing analysis. Ultrastructure analysis suggested that this dwarfism was manifested by shorter, thinner stems due to a reduction in cell number. A higher level of endogenous abscisic acid (ABA) and a higher transcript level of the ABA pathway genes in the mutant lines revealed that the PbPAT14 function was related to the ABA pathway. Overall, our experimental results increase the understanding of how PATs function in plants and help elucidate the mechanism of plant dwarfism