Our Team

Luke Rahbari

Chief Investment Officer (CIO)

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.  

Luke holds a series 66 license. 

Connect with Luke Rahbari




Brian Stutland

Chief Technology Officer (CTO)

When you think “Wall Street”, you think New York. However, Brian Stutland has brought Wall Street to Chicago and helped to create a second home in America for investors. After becoming a contributor to CNBC in 2008, Stutland has worked on shows such as “Options Action” and “Futures Now” in order to educate investors about the markets in Chicago. Broadcasting from both the Chicago Board Options Exchange and Chicago Mercantile Exchange trading floors, Stutland gives regular weekly commentary on the ins and outs of the market from Soybean futures, to S&P 500 index futures, to the CBOE’s Volatility Index (VIX). The success of his information has made “Options Action” one of the longest standing shows on CNBC’s network and Stutland is always preaching ways for investors to use options in order to risk less to make more. On “Futures Now,” Stutland is able to show the world that Chicago is king of the futures markets as he discusses how to invest one’s portfolio with derivative type investments.

For Stutland, success in providing investors with actionable information does not come without an extensive success line himself. In 2011, Brian Stutland founded what is now known as Equity Armor Investments, LLC, an investment advisory firm registered with the state of Illinois. Stutland, as CIO, helps to service clients in the financial world and create licensed indices using Equity Armor’s proprietary trading methodologies.  In 2014, Stutland became a sub-advisor to a volatility based mutual fund but now license their proprietary volatility indices to entities like Bank of Montreal.

Stutland hasn’t just relied on his volatility trading expertise to bring the public efficient ways of investing, but through his holding company Alpha II Zeta, LLC and Equity Armor Investments, Stutland has partnered with companies where his investment, trading expertise, and marketing knowledge of the industry helped transform research based stock analytics companies into huge successful management companies.

Whether it has been creating liquidity for customers to access the Chicago Board Options Exchange’s products, or broadcasting live media from the Chicago Mercantile Exchange trading floors, Stutland has given Chicago and its city exposure to Wall Street. Stutland first established himself as a true market participant as founder and head trader of the biggest VIX options market making firm on the CBOE from 2006 to 2014. Not only has Stutland been integral in providing Chicago with a voice in the financial markets, his former broker/dealer Stutland Equities was an extremely successful market making business, trading multi-million dollar positions dating back to 2005.

Brian 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 before becoming a floor trader in 1999. 

He currently holds licenses for Series 65 and 56.  

Connect with Brian Stutland



Joe Tigay

Chief Risk Officer (CRO)

Joe began his career with Stutland Equities LLC. in 2005, working on the Chicago Board of Options Exchange and specializing in electronic market making. In 2008, Mr. Tigay became a member trader of the Chicago Board of Options Exchange (CBOE). As a member trader, Joe was a very active market maker in both SPX and VIX options from 2008 to 2012.

Joe utilizes this unique understanding of S&P, VIX options and futures to manage a volatility arbitrage fund.

Discussing options, volatility, and market insight, Joe has appeared on Bloomberg, BNN, and has a regular segment on CBOE.tv.

Joe graduated from Michigan State University with a B.A. in Economics.

He currently holds licenses for Series 3, 56, 65.  

Connect with Joe Tigay