The Options Insider Radio Network

The Options Insider Radio Network


The Options Insider Radio Network is the premier audio destination for options traders. Our network feed provides access to a vast array of popular programs including The Option Block, Options Boot Camp, The Advisors Option, The Long and Short of Futures Options, Volatility Views, Options Insider Radio and much more. Join the thousands around the globe who turn to The Options Insider Radio Network for options information, analysis and education. 

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Show Archive

Option Block 645: Dragons and Funky 3-Ways

Trading Block: WMT and BABA earnings today before the bell. Donald Trump sympathizes with Confederate statues. A look at George Soros options positions. Odd Block: More TSLA Jan 2019 50 "Catastrophe" puts hit the tape today. Call frenzy in Utilities...
Posted August 18th, 2017

Trading Block: WMT and BABA earnings today before the bell. Donald Trump sympathizes with Confederate statues. A look at George Soros options positions.

Odd Block: More TSLA Jan 2019 50 "Catastrophe" puts hit the tape today. Call frenzy in Utilities SPDR ETF (XLU). Funky puts trade in Prospect Capital Corporation (PSEC). Rolling puts in WisdomTree India Earnings Fund (EPI).

Strategy Block: Uncle Mike Tosaw discusses his recent SPY diagonal spreads.

Mail Block/Options Question of the Week:

Taking a break from #FireandFury & $VIX to talk #Earnings. Which #Options are you looking forward to trading this week?

  • CSCO
  • BABA
  • HD
  • WMT

Listener questions:

  • Question from Amir - Hi have Apple on a strangle put 155 and call 162.50 until the end of this week. With all the good news I thought it would pop over the 162.50 but now it is at 160.84. Do you think it will go back up or am dead in the water?

Around the Block: VIX and its aftershocks. Feigned rotational love. Watch interest rates.


Options News Rundown: Friday, August 18, 2017

Options news you can use for Friday, August 18, 2017
Posted August 18th, 2017

Options news you can use for Friday, August 18, 2017


Options Playbook Radio 171: BABA Backspread

Since it's still earnings, season we are going to continue to look at expensive stocks. Today's subject is Alibaba (BABA), and we are exploring a backspread. You can find backspreads in The Options Playbook. This is always available on...
Posted August 17th, 2017

Since it's still earnings, season we are going to continue to look at expensive stocks. Today's subject is Alibaba (BABA), and we are exploring a backspread. You can find backspreads in The Options Playbook. This is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.

The details:

  • The difference bewteen a skip-strike butterfly and a backspread
  • What do we want to happen?
  • Why a backspread over a skip-strike butterfly?
  • Earnings-related considerations
  • What is the marketplace expecting after the earnings?
  • Selecting strikes
  • What will this cost?
  • What is the timeframe?
  • And more...

Do you have a question that you want answered on a future episode? Send them to Brian at [email protected], or to the Options Insider at [email protected].


Options News Rundown: Thursday, August 17, 2017

Options news you can use for Thursday, August 17, 2017
Posted August 17th, 2017

Options news you can use for Thursday, August 17, 2017


Options News Rundown: Wednesday, August 16, 2017

Options news you can use for Wednesday, August 16, 2017
Posted August 16th, 2017

Options news you can use for Wednesday, August 16, 2017


Option Block 644: Talking Trades with Tub

Trading Block featuring Matt "Tubby" Benson. VIX back in the 12 handle - is Fire and Fury over? Sept future down from 15.20 to 13.20 FIZZ and the Cook County soda tax Odd Block: Puts trade in Urban Outfitters Inc. (URBN), risk reversal in Hewlett...
Posted August 15th, 2017

Trading Block featuring Matt "Tubby" Benson.

  • VIX back in the 12 handle - is Fire and Fury over?
  • Sept future down from 15.20 to 13.20
  • FIZZ and the Cook County soda tax

Odd Block: Puts trade in Urban Outfitters Inc. (URBN), risk reversal in Hewlett Packard Enterprise Co (HPE), calls trade in Teradyne Inc. (TER).

Mail Block/Question of the Week:

Taking a break from #FireandFury & $VIX to talk #Earnings. Which #Options are you looking forward to trading this week?

  • CSCO
  • BABA
  • HD
  • WMT

Volatility Flash Poll:

$VIX Hit 16.17 Thursday. Is this the end of low #Volatility? Or a temporary blip? Which level will $VIX hit first?

  • 51% - Serious Vol >20
  • 28% - Sindle Digits <10
  • 21% - Heck with it - I'm in Cash

Last Week's Question of the Week:

Which #Options Exchange or group has carved out the largest piece of the #Options market so far in 2017?

  • 72% - CBOE/BATS
  • 17% - NASDAQ
  • 3% - NYSE
  • 8% - MIAX & BOX

Listener Questions:

  • Question from Richard D - Often on segments like the odd block or similar segments on your other shows you talk about someone going bullish or bearish on certain contracts. For example lets take the Tesla way OTM puts you have mentioned. You talk about someone wanting to be long those catastrophic Tesla puts, but for each trade there is some party taking the other side. Since there is always another party in these trades why isn't it the inverse analysis - in this case for example that someone really wants to sell way OTM TSLA puts? Thanks!
  • Question from JDiggs - Is the convention for quoting spreads ITM strike then OTM strike? What about time spreads?

Around the Block: Earnings! Investigating Trump. North Korea. China.


Volatility Views 267: Feeling The Fire and the Fury

Today we feature guest co-hostBill Valentine from Commodore Fund Volatility Review: A look back at the week from a volatility perspective The numbers: VIX Cash - 16.17 up over 40%, VVIX - 135.32 CBOE Skew Index - 136.48, VXN - 14.2 VIX Options...
Posted August 14th, 2017

Today we feature guest co-hostBill Valentine from Commodore Fund

Volatility Review: A look back at the week from a volatility perspective

The numbers:

  • VIX Cash - 16.17 up over 40%, VVIX - 135.32
  • CBOE Skew Index - 136.48, VXN - 14.2
  • VIX Options ADV - 676k

Russell's Weekly Rundown:

  • Earnings Volatility: DIS, NVDA & SNAP

Volatility Voicemail: Listener feedback

Volatility Flash Poll: $VIX Hit 16.17 Thursday. Is this the end of low #Volatility? Or a temporary blip? Which level will $VIX hit first?

  • Serious Vol >20
  • Single Digits <10
  • Heck with It- I'm In Cash

Listener qusetions:

  • Question from Jax - What does today?s VIX move mean for XIV? Will this blow them out?

Crystal Ball: Wild prognostication

Last week:

  • Mark L. - 9.75
  • Mark S. - 10.75
  • Russell - 10.25

This week:

  • Mark L. - 12.55
  • Andrew - 12.01
  • Russell - 13.50
  • Bill - 10.50

Options News Rundown: Monday, August 14

Options news you can use for Monday, August 14
Posted August 14th, 2017

Options news you can use for Monday, August 14


This Week in Futures Options 64: Volatility Explosions Live from S&P 500 Options Pit

Today's special guests are Joe Sullivan & JJ OKeefe, Chicago Capital Markets Topics this week include: S&P/Indexes Floor-based execution Volatility and skew Listener question: Do e-mini, SPY and SPX skew all line up in the same way? ...
Posted August 14th, 2017

Today's special guests are Joe Sullivan & JJ OKeefe, Chicago Capital Markets

Topics this week include:

  • S&P/Indexes
  • Floor-based execution
  • Volatility and skew
    • Listener question: Do e-mini, SPY and SPX skew all line up in the same way?
  • Metals: Silver/Gold

Futures Options Feedback: Listeners weigh in

  • Question from Chris Thomas: Nick always talks about taking advantage of the skew. Creating a collar, buying the underlying, selling a call with high vol and buying cheap put protection or doing the opposite of that trade if the put has higher vol. I don't have as much experience with futures as I do indices, but "taking advantage of the skew" using spy for example would certainly have lost a ton of money over the past few years (if you shorted stock, sold puts and bought calls). I am definitely leaning more towards selling spreads on the side with high skew in futures because that has made a ton of money over the past few years in SPY and I don't seem to be making money on these collars. Any opinion on this? Anyways, thanks for everything you do and thank Nick for the awesome software.

Option Block 643: Fire, Fury and VIX

Trading Block: VIX getting some life again thanks to "fire and fury." Earnings after the bell: NVDA - ATM straddle: $15, approx. 9% SNAP - ATM straddle: $2.25, approx.16.5% Odd Block: Put spreads trade in iShares MCSI South Korea Index (EWY) , put...
Posted August 11th, 2017

Trading Block: VIX getting some life again thanks to "fire and fury."

Earnings after the bell:

  • NVDA - ATM straddle: $15, approx. 9%
  • SNAP - ATM straddle: $2.25, approx.16.5%

Odd Block: Put spreads trade in iShares MCSI South Korea Index (EWY) , put rolls in SPDR Retail ETF (XRT) and puts sell and call in Urban Outfitters (URBN).

Strategy Block: Uncle Mike Tosaw discusses what happens when low volatility gets higher in the course of just one day.

Mail Block/Flash Poll:

BOX Options is opening a new trading floor. Do we need another floor to compete with Philly, NYSE, CBOE and all the rest?

  • Yes, for complex orders
  • No, there are too many exchanges
  • N/A, I only trade electronically
  • I am dusting off my trading jacket

Around the Block: What's coming up?

Earnings this week:

  • Thursday - Macys, Kohl's, Nordstrom, Blue Apron, Snap Inc., Coca-Cola, Nvidia
  • Friday - JCPenney

Big numbers:

  • Aug 11: Consumer Price Index

Get in the Middle of the Trading Action at the Professional Traders Summit


Options News Rundown: Friday, August 11, 2017

Options news you can use for Friday, August 11, 2017
Posted August 11th, 2017

Options news you can use for Friday, August 11, 2017


Options Playbook Radio 170: Getting out of Straddles

It's time for listener questions on Options Playbook Radio. Do you have a question that you want answered on a future episode? Send them to Brian at [email protected], or to the Options Insider at [email protected] In this...
Posted August 10th, 2017

It's time for listener questions on Options Playbook Radio. Do you have a question that you want answered on a future episode? Send them to Brian at [email protected], or to the Options Insider at [email protected].

In this episode Mark and Brian discuss:

  • Question from LesNod: How the heck do you actually get out of straddles? One side of a straddle is always a loss!
  • Question from Jelly: Can I buy longer-term options than LEAPS?
  • Question from Kim D.: How high to rates need to go before I need to worry about rho?
  • Question from Axel D.: Why do they update open interest only once a day?

Options Insider Radio Interviews: Revenge of the Trading Floor

In this episode, Mark is joined by Ed Boyle, CEO of the BOX Options Exchange. They discuss: Why are they launching a new options trading floor? How are they going to incent options order flow? The backlash against new exchanges What will trade on the...
Posted August 10th, 2017

In this episode, Mark is joined by Ed Boyle, CEO of the BOX Options Exchange. They discuss:

  • Why are they launching a new options trading floor?
  • How are they going to incent options order flow?
  • The backlash against new exchanges
  • What will trade on the floor versus electronically?
  • How many firms will make markets?
  • What about the PIP?
  • What can we do to bring people back to market making?
  • The search for the holy grail

Options News Rundown: Thursday, August 10, 2017

Options news you can use for Thursday, August 10, 2017
Posted August 10th, 2017

Options news you can use for Thursday, August 10, 2017


Options News Rundown: Wednesday, August 9, 2017

Options news you can use for Wednesday, August 9, 2017
Posted August 9th, 2017

Options news you can use for Wednesday, August 9, 2017


Options Insider Radio Interviews: Talking VIX, Trump and Buffered Notes with Exceed Investments

In this episode, Mark is joined by Joe Halpern, Founder and CEO of Exceed Investments. They discuss: What is Exceed Investments? The Exceed Defined Shield Investment Fund Is there a standardized methodology for the fund? The obsession with short...
Posted August 9th, 2017

In this episode, Mark is joined by Joe Halpern, Founder and CEO of Exceed Investments.

They discuss:

  • What is Exceed Investments?
  • The Exceed Defined Shield Investment Fund
  • Is there a standardized methodology for the fund?
  • The obsession with short duration
  • How did they arrive at 12.5%
  • How are they dealing with record low volatility?
  • The volatility in the political sphere
  • On the hunt for yield
  • The use of options by financial advisors
  • Want more information? Check out catalystmf.com or exceedinvestments.com

Option Block 642: The Mystery of LQD Combos

Trading Block: Investors Have Never Been More Short Volatility Futures Odd Block: An update on the Tesla "Catastrophe Puts," call frenzy in Procter & Gamble Co (PG), size bullish combo/conversion/reversal in iShares IBoxx $ Invest Grade Corp....
Posted August 8th, 2017

Trading Block: Investors Have Never Been More Short Volatility Futures

Odd Block: An update on the Tesla "Catastrophe Puts," call frenzy in Procter & Gamble Co (PG), size bullish combo/conversion/reversal in iShares IBoxx $ Invest Grade Corp. (LQD), and calls trade in Extended Stay America Inc (STAY).

Mail Block: More Tesla commentary

  • From Michael Smith - This is an obscene about of OI that far out of the money.
  • From Bart S. - Are those Puts bought or sold?
  • From Gary Paster - A very interesting Collar which I will watch until expiration - Re: TSLA MAR 250/470 strangle that paper bought 400 times last week.

Flash Poll: What do you think of the planned launch of cash-settled #Bitcoin futures later this year?

  • 34% - I Can't Wait!
  • 17% - I'm Not Interested!
  • 41% - I'm Somewhat Curious
  • 8% - I'm Waiting for Ethereum

Question from Upward Momentum: Is that a good thing you think?

#QuestionOfTheWeek: Which #Options Exchange or group has carved out the largest piece of the #Options market so far in 2017?

  • 72% - CBOE/BATS
  • 17% - NASDAQ
  • 3% - NYSE
  • 8% - MIAX & BOX

Comment from FContangotrader: Urban Dictionary: Scaramucci Maybe 2-week options should be called Scaramuccis?

Comment from Tim A. - For the guy who wrote in about trading with free commissions. What about a box?

Around the Block: Earnings!

  • Monday - Marriott
  • Tuesday - The Walt Disney Company, Valeant Pharmaceuticals
  • Wednesday - The Childre's Place, Mylan, Live Nation, Office Depot
  • Thursday - Macys, Kohls, Nordstrom, Blue Apron, Snap Inc., Coca-Cola, Nvidia
  • Friday - JCPenney

Also this week:

  • Aug 8: JOLTS
  • Aug 9: Productivity and Costs
  • Aug 10: Jobless Claims, PPI, Treasury Budget
  • Aug 11: Consumer Price Index


Options News Rundown: Tuesday, August 8, 2017

Options news you can use for Tuesday, August 8, 2017
Posted August 8th, 2017

Options news you can use for Tuesday, August 8, 2017


This Week in Futures Options 63: Crude Oil, Soybeans, Index Volatility and More

Topics this week include: Crude Iron Ore Soybeans Futures Options Feedback: Questions, comments, and more Last week's Options Question of the Week: With VIX circling the drain, where are you looking for your next volatility fix? 39% - Nasdaq 100...
Posted August 7th, 2017

Topics this week include:

  • Crude
  • Iron Ore
  • Soybeans

Futures Options Feedback: Questions, comments, and more

Last week's Options Question of the Week: With VIX circling the drain, where are you looking for your next volatility fix?

  • 39% - Nasdaq 100
  • 16% - Russell 2000
  • 20% - Commodities
  • 25% - Single Names

Listener questions: Listeners share what's on their minds

  • Question from Tanney9: What do you guys think of lack of OI in UUP? Is there another way to play the US$ that I I'm missing?
  • Comment from Michael C. Khouw: Here is how they compare:
  • Question from Jack S: Doesn't WTI go out 5 years?

Question from Nils - Am I looking at quickskew graph correct? Top line goes up = call Vol goes up? Bottom line goes up = put Vol goes up?

TWIFO Flash Poll: What do you think of the planned launch of cash-settled #Bitcoin futures later this year

  • I Can't Wait!
  • I'm Not Interested!
  • I'm Somewhat Curious
  • I'm Waiting for Ethereum

Volatility Views 266: VIX, TSLA, AAPL and....Bitcoin?

Volatility Views 266: VIX, TSLA, AAPL and....Bitcoin? Volatility Review: A look back at the week from a volatility perspective VIX Cash & VVIX CBOE Skew Index Russell's Weekly Rundown: VIX Options ADV - 661k; Total 11.7m (9.28m Calls, 2.41m...
Posted August 7th, 2017

Volatility Views 266: VIX, TSLA, AAPL and....Bitcoin?

Volatility Review: A look back at the week from a volatility perspective

  • VIX Cash & VVIX
  • CBOE Skew Index

Russell's Weekly Rundown:

  • VIX Options ADV - 661k; Total 11.7m (9.28m Calls, 2.41m Puts)

Earnings Volatilty: AAPL earning after the bell on Tuesday - TSLA earning Wednesday.

Volatility Voicemail: Listener questions and comments

  • Question from Market_Maker - If XIV runs out of money do investors lose there investment? Are they insured against this?
  • Question from Richard D - Just wondering, as an Italian-American myself, why do so many Italian-Americans seem to end up in the options business?

Crystal Ball: Our VIX predictions

Last week:

  • Mark L. - 9.75
  • Andrew - 10.25

This week:

  • Mark L. - 9.75
  • Andrew - 10.75
  • Russell - 10.25


Options News Rundown: Monday, August 7, 2017

Options news you can use for Monday, August 7, 2017
Posted August 7th, 2017

Options news you can use for Monday, August 7, 2017


Option Block 641: Talking AAPL, TSLA and Call Scalping

Trading Block: Apple earnings after the bell on Tuesday. ATM straddle $6, approx. 4% Options Earnings Poll - $AAPL earnings on Tuesday. The market is pricing a 4% move - approx. $6. Do you think $AAPL can do it? 32% - $6 is Cheap, Buy Straddle 25% -...
Posted August 4th, 2017

Trading Block: Apple earnings after the bell on Tuesday. ATM straddle $6, approx. 4%

Options Earnings Poll - $AAPL earnings on Tuesday. The market is pricing a 4% move - approx. $6. Do you think $AAPL can do it?

  • 32% - $6 is Cheap, Buy Straddle
  • 25% - $6 is Rich, Sell Straddle
  • 30% - $6 Seems Fair
  • 13% - Can't Stand $AAPL

Tesla earnings on Wed - $322.87. ATM straddle - $22.50, approx. 7%

Odd Block: Puts trade in Flotek Industries Inc (FTK), calls trade in Mitek Systems, Inc. (MITK), risk reversal in InterActiveCorp (IAC).

Strategy Block: Uncle Mike Tosaw discusses recent trades within his SPY portfolio.

Around the Block: What's coming up this week?

  • Earnings: Aug. 4: CBOE
  • Aug 4: Unemployment, International Trade

Options News Rundown: Friday, August 4, 2017

Options News you can use for Friday, August 4, 2017
Posted August 4th, 2017

Options News you can use for Friday, August 4, 2017


Options Playbook Radio 169: Tesla Skip Strike Butterfly

Since we are still in the middle of earnings season, it makes sense to continue with stocks that are about to release earnings, in this case Tesla, which announces earnings after the recording of this show. You can find skip strike butterflies on page...
Posted August 3rd, 2017

Since we are still in the middle of earnings season, it makes sense to continue with stocks that are about to release earnings, in this case Tesla, which announces earnings after the recording of this show. You can find skip strike butterflies on page 108 of The Options Playbook. This is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.

In this episode, Brian covers:

  • A review of last time
  • Where did the AMZN skip strike butterfly end up?
  • Where is TSLA?
  • What is the outlook?
  • What is the expected move?
  • Setting up the trade: selecting strikes
  • What's the maximum risk? Reward?
  • What do you want to happen?

Do you have a question that you want answered on a future episode? Send them to Brian at [email protected], or to the Options Insider at [email protected].


Options News Rundown: Thursday, August 3, 2017

Options news you can use for Thursday, August 3, 2017
Posted August 3rd, 2017

Options news you can use for Thursday, August 3, 2017


Options News Rundown: Wednesday, August 2, 2017

Options news you can use for Wednesday, August 2, 2017
Posted August 2nd, 2017

Options news you can use for Wednesday, August 2, 2017


Option Block 640: Leprechauns v. Trolls v. Apple

Trading Block: AAPL earnings after the bell on Tuesday. ATM straddle $6, or approximately 4%. Options Earnings Poll: $AAPL earnings on Tuesday. The market is pricing a 4% move, which is approximately $6. Do you think $AAPL can do it? $6 is Cheap- Buy...
Posted August 1st, 2017

Trading Block: AAPL earnings after the bell on Tuesday. ATM straddle $6, or approximately 4%.

Options Earnings Poll: $AAPL earnings on Tuesday. The market is pricing a 4% move, which is approximately $6. Do you think $AAPL can do it?

  • $6 is Cheap- Buy Straddle
  • $6 is Rich- Sell Straddle
  • $6 Seems Fair
  • Can't Stand $AAPL

Odd Block: Puts trade in Altria Group Inc (MO), puts trade in Pantheon NV (PTHN)

Mail Block: Listener Questions and Comments

  • Comment from Shawn St.Peter - I think someone would buy those puts like a life insurance policy if for any reason something happened to Elon Musk, Tesla could drop like a stone. Elon is the reason they are successful and without him I'm not sure they could make it!
  • Comment from Brian Collamer - I see 950 of the JAN19 50 puts go up @ $1.10 marked "spread". Market was 1.03x1.25. OI 28783 - FROM JULY 26
  • Question from Matthew Therrien: I would be interested to see the guys discuss this strategy.
  • Question from Richard D: Mark and the Option Crusaders (last time I called you Option Luminaries so I'm going to keep inventing new titles until one sticks!), I'm on a roll and got my questioned answered Tuesday, and I figured I'd try my luck with two more. I also included a 3rd less serious question!

    Often on segments like the odd block or similar segments on your other shows you talk about someone going bullish or bearish on certain contracts. For example let's take the Tesla way OTM puts you have mentioned. You talk about someone wanting to be long those catastrophic Tesla puts, but for each trade there is some party taking the other side. Since there is always another party in these trades why isn't it the inverse analysis - in this case for example that someone really wants to sell way OTM TSLA puts? Thanks!

Around the Block:

Earning this week:

  • Tuesday - Apple, Lumber Liquidators, Herbalife
  • Wednesday - Tesla, Groupon, Fitbit
  • Thursday - Weight Watchers
  • Friday - CBOE

This week in the market:

  • Aug 1: Personal Income, Construction Spending
  • Aug 3: Jobless Claims, Factory Orders
  • Aug 4: Unemployment, International Trade

Options News Rundown: Tuesday, August 1, 2017

Options news you can use for Tuesday, August 1, 2017
Posted August 1st, 2017

Options news you can use for Tuesday, August 1, 2017


Volatility Views 265: What A Historic Week For Volatility

Volatility Review: A look back at the week from a volatility perspective The Numbers: VIX Cash back in double digit territory. VVIX - 86.87 CBOE Skew Index - 130 VIX Options - ADV: 653k, VIX Call/Put: 3.9/ 1; Total 10.4m (8.23m Calls, 2.13m Puts...
Posted July 31st, 2017

Volatility Review: A look back at the week from a volatility perspective

The Numbers:

Earnings Volatility:

  • Monday: Alphabet opened down nearly 2%, Low of 963.
  • Tuesday: Chipotle opened up approx. $6.50, then plummeted $15
  • Wednesday: Facebook opened up $8.87, traded up as high as $9.88.
  • Thursday: Amazon ATM straddle approx. $49

Crystal Ball: What does the future hold for the VIX?

Last week

  • Mark L. - 10.25
  • Russell - 9.76
  • Mark S. - 10.04

This week

  • Mark L. - 9.75
  • Andrew - 10.25

This Week in Futures Options 62: Rise of the Russell 2000

This week the CME hot seat guest is Ron Bundy, CEO Benchmarks North America, FTSE Russell. Topics this week include: Russell 2000 Crude Oil Interest Rates Futures Options Feedback: Listeners weigh in. Options Question of the Week: With $VIX circling...
Posted July 31st, 2017

This week the CME hot seat guest is Ron Bundy, CEO Benchmarks North America, FTSE Russell.

Topics this week include:

  • Russell 2000
  • Crude Oil
  • Interest Rates

Futures Options Feedback: Listeners weigh in.

Options Question of the Week: With $VIX circling the drain, where are you looking for your next #Volatility fix?

  • Nasdaq 100 - $QQQ
  • Russell 2000
  • Commodities-Oil, Gold,etc.
  • Single Names (AMZN, etc.)

Listener Questions and Comments:

  • Question from J Randall - S&P skew is pretty standard at this point. How do the other major indexes like NASDAQ and Russellcompare? Steeper? Are the puts as rich?
  • Question from NN02 - Crude still lining up for bullish risk reversals here or has that ship sailed?
  • Comment from Tim D. - My crazy product vote is crude because it is crazy!
  • Question from Andrew - How long are the reports live during the show?

Options News Rundown: Monday, July 31, 2017

Options news you can use for Monday, July 31, 2017
Posted July 31st, 2017

Options news you can use for Monday, July 31, 2017


Options Insider Radio Interviews: Talking Aggressive Options Acquisitions With Vela

In this episode, Mark is joined by Jen Nayar, CEO of Vela Trading Technologies. They discuss: Major acquisitions: OptionsCity and Object Trading The whys and hows of the acquisitions How will the brands merge together going forward? Is the smaller,...
Posted July 31st, 2017

In this episode, Mark is joined by Jen Nayar, CEO of Vela Trading Technologies.

They discuss:

  • Major acquisitions: OptionsCity and Object Trading
  • The whys and hows of the acquisitions
  • How will the brands merge together going forward?
  • Is the smaller, fragmented community cause for concern?
  • Was there much of an overlap between Vela and Object Trading?
  • When will the whole platform come together?
  • Is there more to come?

Option Block 639: Amazon Earnings Umbrage

Trading Block: Amazon rallies 2%. Bezos surpassed Gates ever-so briefly as richest man in the world. Then there was a selloff. Earnings Flash Poll - $AMZN is up next. ATM Straddle approx. $50 - aka 4.5%. Does a $50 earnings move seem reasonable or...
Posted July 28th, 2017

Trading Block: Amazon rallies 2%. Bezos surpassed Gates ever-so briefly as richest man in the world. Then there was a selloff.

Earnings Flash Poll - $AMZN is up next. ATM Straddle approx. $50 - aka 4.5%. Does a $50 earnings move seem reasonable or crazy to you?

  • 39% - I'll buy that for $50
  • 22% - I'll sell that for $50
  • 28% - Seems Fair to Me
  • 11% - I'm waiting for $AAPL

Odd Block: Call rolls in Dynavax Technologies Corporation (DVAX) and calls trade in JetBlue Airways Corporation (JBLU).

Strategy Block: Uncle Mike Tosaw gives us an update on the silver collar trade and discusses FAZ

Mail Block: Listner questions and comments

Tons of people giving us crap for not knowing the handle of our listener from the last show.

  • Comment from John King - Dude, Louis Wintrhope III. You must be overdue for a live cast Trading Places party - on a trading floor, of course.
  • Question from USA Patriot - What is ADV? the cheapest way to hedge my portfolio w options?

Around the Block/This Week in the Market:

  • Jul 28: GDP, Consumer Sentiment
  • Jul 28: ExxonMobil, AA

Options News Rundown: Friday, July 28, 2017

Options news you can use for Friday, July 28, 2017
Posted July 28th, 2017

Options news you can use for Friday, July 28, 2017


Options Playbook Radio 168: AMZN Bullish Skip Strike Butterfly

We are back in earnings season. Given the possibility for big moves, we will look at the skip strike butterfly with calls, which you can find on page 108 of The Options Playbook. This is always available onoptionsPlaybook.com, in on the Amazon Kindle...
Posted July 27th, 2017

We are back in earnings season. Given the possibility for big moves, we will look at the skip strike butterfly with calls, which you can find on page 108 of The Options Playbook. This is always available onoptionsPlaybook.com, in on the Amazon Kindle edition.

In this episode:

  • What happens to implied volatiilty around earnings?
  • The dynamics of the trade
  • The more costly the underlying, the more costly the option
  • AMZN announces earnings on 7/27 after the close
  • What is the "expected move"?
  • Picking a close expiration
  • Selecting strikes
  • What is the maximum risk?
  • What is the break-even point?
  • What if we are completely wrong?
  • What is the best-case scenario?

Do you have a question that you want answered on a future episode? Send them to Brian at [email protected], or to the Options Insider at [email protected].


Options News Rundown: Thursday, July 27, 2017

Options news you can use for Thursday, July 27, 2017
Posted July 27th, 2017

Options news you can use for Thursday, July 27, 2017


Options News Rundown: Wednesday, July 26, 2017

Options news you can use forWednesday, July 26, 2017
Posted July 26th, 2017

Options news you can use forWednesday, July 26, 2017


Option Block 638: GOOGL, AMZN, TSLA, FB, CMG and MORE

Trading Block: Earnings! Monday - Alphabet earnings after close today Earnings Flash Poll - $GOOGL is on deck. With $GOOGL around $993 the ATM Straddle is pricing in a 4% move. Are you a buyer or a seller? Buy it - 4% is cheap Sell it: 4% is...
Posted July 25th, 2017

Trading Block: Earnings!

  • Monday - Alphabet earnings after close today

Earnings Flash Poll - $GOOGL is on deck. With $GOOGL around $993 the ATM Straddle is pricing in a 4% move. Are you a buyer or a seller?

  • Buy it - 4% is cheap
  • Sell it: 4% is expensive
  • 4% is just right
  • I'm holding out for $AMZN

More earnings!

  • Tuesday - GM, McD, AT&T, Chipolte, AMD
  • Wednesday - FB, Coca-Cola, Boeing
  • Thursday - Amazon, Intel, UPS, Southwest
  • Friday - ExxonMobil, AA

Odd Block: Puts trade in Sirius XM Holdings Inc. (SIRI) and size ratio vertical in Scientific Games Corp. (SGMS).

Mail Block: Listener questions and comments

  • Question from Alberto - How does this earnings straddle thing work again? What does that tell me?
  • Question from Richard - Dear Option Luminaries, It has been a while years since I have written in (the last time I wrote in Alex was still one of the hosts)! Are there any trades that if you did not have a to pay brokerage fees would be excellent types of trades? I recently have been given the opportunity to trade options and equities for a near zero trading costs for about a year. I had in the past found some multi-leg spreads or underlyings with a really low prices unworkable because the trading costs made the potential gains or expected value too low. Thank you for your time and for the great shows you consistently point out! Uncle Mike after that 12 days of Christmas options parody from 2015 I think you should be given a "license to inflict umbrage" for at least a decade!
  • Question from Louis Winthrope III - What are best options trades for the upcoming earning release for Twitter?

Around the Block/This Week in the Market

  • Jul 25: Consumer Confidence
  • Jul 26: New Home Sales, FOMC Meeting
  • Jul 27: Jobless Claims, Durable Goods
  • Jul 28: GDP, Consumer Sentiment

This Week in Futures Options 61: Crazy Week for Corn and Crude

Today's CME hotseat guest is Matt Bradbard, Director of Alternative Investments, RCM Topics this week include: Where is the vol? New Zealand Dollar (our surprise product of the week) Crude Oil Corn Futures Options Feedback: Polls, questions,...
Posted July 24th, 2017

Today's CME hotseat guest is Matt Bradbard, Director of Alternative Investments, RCM

Topics this week include:

  • Where is the vol?
  • New Zealand Dollar (our surprise product of the week)
  • Crude Oil
  • Corn

Futures Options Feedback: Polls, questions, comments and more!

TWIFO Flash Poll: Which Options product had largest % change in open interest over the past week?

  • 50% - Soybeans
  • 25% - Emini Nasdaq 100
  • 8% - Copper
  • 17% - Live Cattle

Questions and Comments:

  • Comment from LilChech - My vote for crazy CME product is oats. Who trades oats?
  • Question from Eve4 - You talked gold collars a few eps back. Silver has been selling off. Is this a good time for a silver collar?
  • Question from Antim - How far out can I go in most CME options? Can I go out as far as a LEAP?
  • Question from BulzEye7 - Are options worth it for day-traders? Or just for swing-traders?
  • Comments on Bitcoin - What could go wrong? Re: CFTC approves options trading in Bitcoin. Can you short BTC?

Volatility Views 264: Winter Is Coming

Volatility Review: A look back at the week from a volatility perspective. The Numbers: VIX Cash - 9.58, VVIX - 76 VXN - 14.36, CBOE Skew Index - 130 VIX Options - ADV: 671k, Total 7.32m (5.82m Calls, 1.49m Puts) Russell's Weekly Rundown: Volatility...
Posted July 24th, 2017

Volatility Review: A look back at the week from a volatility perspective.

The Numbers:

  • VIX Cash - 9.58, VVIX - 76
  • VXN - 14.36, CBOE Skew Index - 130
  • VIX Options - ADV: 671k, Total 7.32m (5.82m Calls, 1.49m Puts)

Russell's Weekly Rundown:

Volatility Flash Poll: Someone bought 235k $VIX Aug 30/35 Call Spreads for a whopping $.05. Theory time - Why would someone buy this spread?

  • "Hedge" Short OTC Vol
  • Bullish Volatility Spec
  • Someone had $1.2M to burn
  • "Hedge" Equity Portfolio

Volatility Voicemail: Listener questions and comments

  • Question from FContangotrader: When you buy put calendar in $VXX and took delivery of stock becomes synthetic call, great way to gain cheap delta while you short.

Options question of the week: Earnings Season is back! $MSFT & $EBAY are up next. $MSFT ATM Straddle = 3.5%. $EBAY ATM Straddle = 7% Which trade would you make?

  • 41% - Buy $MSFT Straddle 3.5%
  • 28% - Buy $EBAY Straddle 7%
  • 21% - Sell $MSFT Straddle 3.5%
  • 10% - Sell $EBAY Straddle 7%

More questions and comments:

  • Question from Avery Thompkins & HSchwartz - Russell any progress on creating a VIX calc spreadsheet?
  • Question from Ballen - What is your take on this article? Time to Stop Calling the VIX the ?Fear Index?
  • Question from MMouse - Check out this chart. Short volatility for the win! Why would you buy VIX?

Crystal Ball: Wild and reckless prognostication

Last week:

  • Mark L. - 10.25
  • Ghost of Russell - 13.74
  • Andrew - 9.99
  • Guest - 9.75

This week:

  • Mark L. - 10.25
  • Russell - 9.76
  • Mark S. - 10.04

Options News Rundown: Monday, July 24, 2017

Options news you can use for Monday, July 24, 2017
Posted July 24th, 2017

Options news you can use for Monday, July 24, 2017


Advisors Option 57: Beware of Gamma and Flying Deltas

Options 101: Gamma: Measuring the Changes in Delta What is the relationship between gamma and Delta? What are the properties of gamma? What is put-call parity? At the money options and gamma? Out of the money options and gamma? Time and gamma? The...
Posted July 21st, 2017

Options 101: Gamma: Measuring the Changes in Delta

  • What is the relationship between gamma and Delta?
  • What are the properties of gamma? What is put-call parity?
  • At the money options and gamma? Out of the money options and gamma? Time and gamma?

The Buzz: The low volatility regime continues: 7 of the 11 days in the past 20 years where VIX has been below 10% have occurred since mid-May 2017. Two studies, two different conclusion about alts & hedge funds.

Office Hours: Listener questions and comments:

Advisors Option Flash Poll. With $VIX hitting new lows and $SPX new highs, what is your financial advisor telling you about using #Options?

  • Write covered calls?
  • Buy protective puts?
  • Do Both - Use Collars
  • They Won't Touch Options

Listner Questions:

  • Question from LCB - Hey guys. You mentioned on the show that this is a challenging time to sell options due to low volatility. So does it stand that the opposite is true? Is it a good time to buy options? Particularly protective puts?
  • Question from TIM D. - How high do rates need to be before I need to worry about rho?

Option Block 637: Talking Earnings with Tubby

Trading Block: Earnings after the bell today: Ebay - $37.19 Microsoft - $73.81 Earnings season is back! $MSFT & $EBAY are up next. $MSFT ATM Straddle = 3.5%. $EBAY ATM Straddle = 7% Which trade would you make? Buy $MSFT Straddle 3.5% Buy $EBAY...
Posted July 21st, 2017

Trading Block: Earnings after the bell today:

  • Ebay - $37.19
  • Microsoft - $73.81

Earnings season is back! $MSFT & $EBAY are up next. $MSFT ATM Straddle = 3.5%. $EBAY ATM Straddle = 7% Which trade would you make?

  • Buy $MSFT Straddle 3.5%
  • Buy $EBAY Straddle 7%
  • Sell $MSFT Straddle 3.5%
  • Sell $EBAY Straddle 7%

NFLX Closed $161.70 on 7/17, traded as high as $185 (up $23) the next day.

Odd Block: Put trade in Home Depot Inc (HD) and puts roll in Spider S&P Biotech (XBI).

Strategy Block: Uncle Mike Tosaw discusses call rolls

Mail Block: Listnener questions and comments

  • Comment from Roger Barone: Please advocate for ALL AMERICANS to be able to trade foreign equity or index options! Trying to get the SEC or Financial Services Committee to do the right thing is like talking to a wall. They are both controlled by the big banks and QIBs whose monopoly they protect. Insane archaic policy pushing Americans - and their money - offshore. Info: optionproject.wordpress.com/reform. I'm gonna try to change from the inside if all else fails: barone4congress2018.com.

Around the Block/This Week in the Market:

  • July 20: Jobless Claims

Options News Rundown: Friday, July 21, 2017

Options news you can use for Friday, July 21, 2017
Posted July 21st, 2017

Options news you can use for Friday, July 21, 2017


OICs Wide World of Options 38: Panel - Options Strategy Selection: What You Should Think About Before You Trade

WWoO Show 38: Panel- Options Strategy Selection: What You Should Think About Before You Trade This rebroadcast of OICs webinar panel discusses how experts choose their optimal options strategy and the important questions that investors and...
Posted July 21st, 2017

WWoO Show 38: Panel- Options Strategy Selection: What You Should Think About Before You Trade

This rebroadcast of OICs webinar panel discusses how experts choose their optimal options strategy and the important questions that investors and traders should consider before trading.


Options Playbook Radio 167: Trading Options After Hours

It's huddle time again on Options Playbook Radio. This is when Mark and Brian answer listener questions. Do you have a question that you want answered on a future episode? Send them to Brian at [email protected], or to the Options Insider...
Posted July 20th, 2017

It's huddle time again on Options Playbook Radio. This is when Mark and Brian answer listener questions. Do you have a question that you want answered on a future episode? Send them to Brian at [email protected], or to the Options Insider at [email protected].

The Bobster wants to know if options can be traded outside of U.S. trading hours.

  • Short answer: yes and no
  • Longer answer: liquidity issues, wider spreads, other nuances.
  • Should there be regular after hours?
  • Should it be limited to a number of names?
  • Index versus equity options

Nelly2 wants to know about assignment. Just so I am clear on the spread assignment thing. If I am in SPX, then I just get cash if the index closes inside my spread. But if I am in a stock, then I get the stock?

  • Cash-settled
  • Guidelines for cash-settled versus regular settled
  • Sellers and buyers rights and obligations

Options News Rundown: Thursday, July 20, 2017

Options news you can use for Thursday, July 20, 2017
Posted July 20th, 2017

Options news you can use for Thursday, July 20, 2017


Options News Rundown: Wednesday, July 19, 2017

Options news you can use for Wednesday, July 19, 2017
Posted July 19th, 2017

Options news you can use for Wednesday, July 19, 2017


Options Insider Radio Interviews: Rocking Out For Kids With ALTSO

Mark is joined by Mead Welles, Co-Founder, Chairman and Treasurer of A Leg to Stand On (ALTSO). Mead is also the Founder and CEO of Octagon Asset Management, LLC They discuss: What is ALTSO? Rocktoberfest 2017 is October 5 at City Winery How did it...
Posted July 18th, 2017

Mark is joined by Mead Welles, Co-Founder, Chairman and Treasurer of A Leg to Stand On (ALTSO). Mead is also the Founder and CEO of Octagon Asset Management, LLC

They discuss:

  • What is ALTSO?
  • Rocktoberfest 2017 is October 5 at City Winery
  • How did it all start?
  • What surprises are in store for this year?
  • How do the Chicago and New York events differ?
  • Any plans for additions to the schedule?
  • New York event is October 26 at the Hard Rock Cafe in Time's Square
  • What are ALTSO's business practices?
  • How has technology helped ALTSO meet their goals?

About ALTSO: A Leg To Stand On ("ALTSO") is a non-profit organization providing free orthopedic care including prosthetic limbs, orthotic devices, mobility aids, corrective surgery and rehabilitative care to children in the developing world. Its mission is to offer children who have lost their limbs in traumatic accidents or suffer from congenital disabilities the physical capabilities to access the opportunities and self-esteem earned through education, work and mobility. The net proceeds raised at the events will benefit ALTSO's programs in Asia, Africa and Latin America. For more information on the charity or events, visit ALTSO's website at altso.org.


Option Block 636: Netflix Earnings with the Option Block Home Boys

Trading Block: NFLX earnings after the bell. Netflix trading around $161.19. Options Flash Poll: Earnings season is back! $NFLX ($161.19) is currently pricing in a $13 ATM straddle (approx. 8%). What's your take? $13 is WAY too Cheap $13 is WAY too...
Posted July 18th, 2017

Trading Block: NFLX earnings after the bell. Netflix trading around $161.19.

Options Flash Poll: Earnings season is back! $NFLX ($161.19) is currently pricing in a $13 ATM straddle (approx. 8%). What's your take?

  • $13 is WAY too Cheap
  • $13 is WAY too expensive
  • $13 is JUST RIGHT
  • I'm sitting this one out

Amazon taking on Blue Apron - filing a trademark for a competing meal-kit service

Odd Block: Puts trade in (CHRW), puts roll in Harley-Davidson (HOG), size call diagonal in STZ.

Mail Block: Listener questions and comments

Around the Block/This Week in the Market:

  • July 18: Import and Export Prices, Treasury International Capital
  • July 19: Housing Starts
  • July 20: Jobless Claims

Volatility Views 263: VIX Call Spreads and Tin Foil Hats

Volatility Review: A look back at the week from a volatility perspective. CML VIZ VIX Cash: 9.90, VVIX: 85.68 VIX Options: ADV - 671k, Total 10.3m (8.28m Calls, 2.06m Puts) VIX pop quiz Strong Volume for SPXW Options with Monday, Wednesday,...
Posted July 17th, 2017

Volatility Review: A look back at the week from a volatility perspective.

Volatility Voicemail: Listener questions and comments

Comment from Roger Barone: If they did so thru @IBKR their margin is $35,250,000. Anyone else ZERO! @IBKR SUCKS! @CBOE REFUSES to stop their MARGIN ABUSE! @SEC_News...Yes. They charge a MINIMUM OF $150 on ANY VIX SPREAD even if a long one like that. THEY TOTALLY SUCK! I told CBOE at Pinnacle but no action. Read this and this.

Crystal Ball: Wild prognostication

Last week:

  • Mark L. - 10.60
  • Mark S. - 10.05
  • Russell - 11.99

This Week:

  • Mark L. - 10.25
  • Andrew - 9.99
  • Ophir - 9.75

This Week in Futures Options 60: Return of the Russell

Today's special guest is Tim McCourt, Global Head of Equity Products at CME Group. Topics this week include: Russell Index Ags Soybeans Corn Futures Options Feedback Flash Poll There is some volatility rocking in the ags this week. Which product...
Posted July 17th, 2017

Today's special guest is Tim McCourt, Global Head of Equity Products at CME Group.

Topics this week include:

  • Russell Index
  • Ags
  • Soybeans
  • Corn

Futures Options Feedback Flash Poll

There is some volatility rocking in the ags this week. Which product would you say is on your radar, or perhaps in your portfolio?

  • Soybeans
  • Corn
  • Wheat
  • Other

Listener questions and comments:

  • Question from Nicker - Which major index is the most volatile?
  • Question from Eve4 - You talked gold collars a few episodes back, silver though has been selling off. Is this a good time for a silver collar?
  • Question from Andrew - Can you short Bitcoin BTC?

Option Block 635: TSLA Puts, VIX Calls, No Love For APRN

Trading Block: Amazon Prime Day today. Lots of closing VIX puts. Waiting on what Yellen may say. Odd Block: TSLA options tracker - 145 "catastrophe" puts hit the tape today, 20 more Jan 2018 20 puts also trade today. APRN first week review - paper...
Posted July 14th, 2017

Trading Block: Amazon Prime Day today. Lots of closing VIX puts. Waiting on what Yellen may say.

Odd Block: TSLA options tracker - 145 "catastrophe" puts hit the tape today, 20 more Jan 2018 20 puts also trade today. APRN first week review - paper buys 1080 Aug 9 calls for $0.40. Crazy tree or put spread in iShares MCSI Taiwan Index (EWT).

Strategy Block: A double strategy today! A put roll down trade in silver and a modified collar trade in XLF.

Mail Block: Options question of the week.

$APRN #options are live! Aug 8 calls top the charts so far. With $APRN at $8.15 Aug 8 calls are $.65-$.75. Would you rather?

  • 28% - Buy Aug 8 Call for $.75
  • 33% - Sell Aug 8 Call for $.65
  • 6% - Buy $APRN Stock for $8.15
  • 33% - Rather Eat $APRN's Food

Listener Question from Darqane: Assigned on short SPX puts means getting long the underlying? But how does that work if it is cash settled?

Around the Block:

This Week in the Market:

  • Jul 14: Consumer Price Index, Industrial Production, Consumer Sentiment

Earnings This Week:

  • Friday - Wells Fargo, Citi, and JP Morgan

Options News Rundown: Friday, July 14, 2017

Options news you can use for Friday, July 14, 2017
Posted July 14th, 2017

Options news you can use for Friday, July 14, 2017


Options News Rundown: July 13, 2017

Options news you can use for Thursday, July 13, 2017
Posted July 13th, 2017

Options news you can use for Thursday, July 13, 2017


Options Playbook Radio 166: IBM Bull Put Spread

For the last few episodes, we were reviewing skip-strike butterflies in GOOGL. You can find this on page 87 of The Options Playbook. This is always available on OptionsPlaybook.com, in on the Amazon Kindle edition. In this episode: A review of the...
Posted July 13th, 2017

For the last few episodes, we were reviewing skip-strike butterflies in GOOGL. You can find this on page 87 of The Options Playbook. This is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.

In this episode:

  • A review of the last few weeks of strategies in GOOGL
  • Looking at IBM, which will announce earnings on July 18
  • Remember: earnings add a bit of volatility to the underlying
  • Where is the IV?
  • Having a neutral to bullish outlook
  • Going out further in time. Why?
  • Time is on your side
  • Picking the expiration
  • Picking the strikes
  • What will this cost?
  • What is the maximum risk? Reward?

Do you have a question that you want featured on an upcoming episode of Options Playbook Radio? Send Brian an email at: [email protected].


Options News Rundown: Wednesday, July 12, 2017

Options news you can use for Wednesday, July 12, 2017
Posted July 12th, 2017

Options news you can use for Wednesday, July 12, 2017


Option Block 634: APRN Calls Not So Tasty

Trading Block: Blue Apron options to list on CBOE exchanges on Monday."Amazon Prime Day" is today. A plan for new trading pit triggers a feud in the U.S. options market. Odd Block: TSLA Options Tracker - 51 more "catastrophe" puts hit the tape today....
Posted July 11th, 2017

Trading Block: Blue Apron options to list on CBOE exchanges on Monday."Amazon Prime Day" is today. A plan for new trading pit triggers a feud in the U.S. options market.

Odd Block: TSLA Options Tracker - 51 more "catastrophe" puts hit the tape today. Puts roll in L Brands Inc. (LB) Puts trade in Gap Inc. (GPS)

Mail Block: Listeners weigh in

Options question of the week: Blue Apron $APRN is down over 10% from its #IPO price. Assuming #Options were listed, what trade would you make?

  • Buy Dec 10 Call for $1
  • Buy Dec 9 Put for $1
  • Sell Dec 10 Call for $1
  • Not Touching $APRN

Listener questions and comments:

  • Question from Tomlyn - What the heck does StoppedIM mean? - From IB Website: SPIM Transaction was the execution of an order which was "stopped" at a price that did not constitute a Trade-Through on another market at the time of the stop. Process like a normal transaction except don't update "last".
  • Comment from PBiggers - Costco Could not get filled to close, then this happens! Need a bounce next week.
  • Question from Alfieg - Interesting artice in Barrons. Any truth to it? How to Tame Volatility? Nix VIX and Buy CBOE.

Around the Block:

This Week in the Market

  • Jul 11: JOLTS
  • Jul 12: Beige Book, OPEC monthly crude oil report.
  • Jul 13: Jobless Claims, Treasury Budget
  • Jul 14: Consumer Price Index, Industrial Production, Consumer Sentiment

Earnings This Week:

  • Thursday - Delta Airlines
  • Friday - Wells Fargo, Citi, and JP Morgan

Options News Rundown: Tuesday, July 11, 2017

Options news you can use for Tuesday, July 11, 2017
Posted July 11th, 2017

Options news you can use for Tuesday, July 11, 2017


This Week in Futures Options 59: Breaking Down your Favorites - Crude, Gold and...Bitcoin.

Topics this week include: Crude Gold Reuters takes a page from TWIFO Silver Being jaunty Futures Options Feedback: Listeners take over Options question of the week. Let's get back to basics. #Options are great way to get long (bullish) exposure to...
Posted July 10th, 2017

Topics this week include:

  • Crude
  • Gold
  • Reuters takes a page from TWIFO
  • Silver
  • Being jaunty

Futures Options Feedback: Listeners take over

Options question of the week. Let's get back to basics. #Options are great way to get long (bullish) exposure to stocks & futures. What's your fav way to go long?

  • Long Call/Call Spread
  • Short Put/Put Spread
  • Stock(Future) Replacement
  • Bullish Risk Reversal

ANOTHER Options question of the week: Everyone is talking about #Bitcoin #Volatility these days. Where do you stand on #Bitcoin after last weeks aggressive downturn?

  • 19% - Too Volatile - I'm out
  • 09% - I'm still bullish
  • 41% - I want #Bitcoin #Options
  • 31% - I'm sick of #Bitcoin

Listener questions and comments:

  • Question from Ely - Are collars generally easier to put on in futures options due to the different skew than equity options?
  • Comment from JBiggs - I think lumber is probably the craziest. Who actually trades that stuff outside of hurricane season?
  • Question from KBX32 - What is the cheapest way to hedge my portfolio with futures options?

Volatility Views 262: Crazy Nuke Vol Plus, VIX vs. VXN

Volatility Review: A look back at the week from a volatility perspective. The VIX juice is loose OCC cleared futures volume in June reached 13,194,530 contracts, a 16% increase from June 2016. One of the most popular - and controversial - trades in...
Posted July 10th, 2017

Volatility Review: A look back at the week from a volatility perspective.

  • The VIX juice is loose
  • OCC cleared futures volume in June reached 13,194,530 contracts, a 16% increase from June 2016.
  • One of the most popular - and controversial - trades in the stock market (XIV) is showing no signs of slowing down. MRA attributes the spiking popularity to the participation of mom and pop investors.

Russell's Weekly Rundown:

Options question of the week:: Blue Apron $APRN is down over 10% from its #IPO price. Assuming #Options were listed, what trade would you make?

  • Buy Dec 10 Call for $1
  • Buy Dec 9 Put for $1
  • Sell Dec 10 Call for $1
  • Not Touching $APRN

Listener questions and comments

  • Question from Avery Thompkins - Heard you guys debating theoretical low for XIV. I am down with 5. That makes sense. What about the other side? How high can it get? Is 1,000 in the conversation?
  • Comment from Safari Dad - A day without volatility is a day without sunshine
  • Question from Vtrader168 - While VIX is at historical low, but Nov VIX future still stay high at 16.20. Nov VIX was ~15.7 on 5/1 and 5/2. So the term structure is relatively steep. Any implication?

Crystal Ball: Your prognostication headquarters

This week:

  • Mark L. - 9.85
  • Mark S. - 10.05
  • Russell - 10.23

Options News Rundown: Monday, July 10, 2017

Options news you can use for Monday, July 10, 2017
Posted July 10th, 2017

Options news you can use for Monday, July 10, 2017


Option Block 633: Nukes, Volatility And Crazy Tesla Puts

Trading Block: VIX ends near the top of the range. It was up to 13.05 at its highest. Tesla down 7.2% yesterday, due to concerns of slowing Model S and Model X sales. The numbers are out: OCC announced today that cleared contract volume in June...
Posted July 7th, 2017

Trading Block: VIX ends near the top of the range. It was up to 13.05 at its highest. Tesla down 7.2% yesterday, due to concerns of slowing Model S and Model X sales. The numbers are out: OCC announced today that cleared contract volume in June reached 387,597,223 contracts, a 2% increase from the June 2016.

Odd Block: TSLA Jan 2019 50 puts and Jan 2018 20 puts continue to trade. Back and forth trading in Tesla Motors (TSLA). Puts trade in LG Display Company LTD. (LPL)

Strategy Block: Uncle Mike Tosaw discusses the recent silver environment.

Mail Block: Options question of the week

Blue Apron $APRN is down over 10% from its #IPO price. Assuming #Options were listed, what trade would you make?

  • Buy Dec 10 Call for $1
  • Buy Dec 9 Put for $1
  • Sell Dec 10 Call for $1
  • Not Touching $APRN

Listener Questions: What's on your mind?

  • Question from Sal06 -@Options you think AAPL $147 call for June 30th is a good idea?
  • Question from Nelly2 -Just so I am clear on the spread assignment thing. If I am in SPX, then I just get cash if the index closes inside my spread. But if I am in a stock, then I get the stock?

Around the Block: WTH is happening in North Korea? VIX responds in kind. S&P 2400. Non-farm payrolls. Google fine.


Options News Rundown: Friday, July 7, 2017

Options news you can use for Friday, July 7, 2017
Posted July 7th, 2017

Options news you can use for Friday, July 7, 2017


Options Playbook Radio 165: GOOGL Skip-Strike Butterfly Part Two

Last week we looked at a GOOGL skip-strike butterfly. Staying on the same page, we will put on a new paper trade as a follow up for that one. You can find this on page 108 of The Options Playbook. This is always available on OptionsPlaybook.com, in on...
Posted July 6th, 2017

Last week we looked at a GOOGL skip-strike butterfly. Staying on the same page, we will put on a new paper trade as a follow up for that one. You can find this on page 108 of The Options Playbook. This is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.

In this episode:

  • A review of last week
  • What was the trade?
  • What did it cost?
  • What happened since?
  • What are we doing now?
  • Setting up the trade
  • Selecting strikes
  • What about expirations?
  • Max loss and gain?

Do you have a question that you want featured on an upcoming episode of Options Playbook Radio? Send Brian an email at: [email protected].


Options News Rundown: Thursday, July 7, 2017

Options news you can use for Thursday, July 7, 2017
Posted July 6th, 2017

Options news you can use for Thursday, July 7, 2017


Options News Rundown: Wednesday, July 5, 2017

Options news you can use for Wednesday, July 5, 2017
Posted July 5th, 2017

Options news you can use for Wednesday, July 5, 2017


Best of Option Block: 500th Episode Spectacular

Originally posted on February 19, 2016 Trading Block: Welcome to our 500th episode. Today's special panel includes: Mark Sebastian, Mike Tosaw, Andrew Giovanazzi, and our most beloved former panelist Alex "The Viceroy" Jacobson. They discuss: ...
Posted July 4th, 2017

Originally posted on February 19, 2016

Trading Block: Welcome to our 500th episode. Today's special panel includes: Mark Sebastian, Mike Tosaw, Andrew Giovanazzi, and our most beloved former panelist Alex "The Viceroy" Jacobson. They discuss:

  • How many exchanges are too many exchanges?
  • Options Insider question of the week
  • The SEC
  • Citadel
  • Transaction fees
  • Talking free of compliance issues
  • And so much more...

Odd Block: Rolling calls in Coca-Cola Company (KO), calendar spreads trade in Time Warner Cable (TWX), and put sellingHess (HES)

Mail Block: Listener questions and comments

  • Question from TennisGr8: I've been hearing a lot lately about gamma scalping. How does it work, and who should use it? Is this second-order greek becoming the new options darling?

Around the Block: Are the bulls back in force? Always be prepared for a downturn.


This Week in Futures Options 58: Crazy Product Rundown

Topics this week include: Crude/WTI Gold Corn Futures Options Feedback: Listeners take over the show Options Question of the week: Let's get back to basics. #Options are great way to get long (bullish) exposure to stocks & futures. What is your...
Posted July 3rd, 2017

Topics this week include:

  • Crude/WTI
  • Gold
  • Corn

Futures Options Feedback: Listeners take over the show

Options Question of the week: Let's get back to basics. #Options are great way to get long (bullish) exposure to stocks & futures. What is your favorite way to go long?

  • Long Call/Call Spread
  • Short Put/Put Spread
  • Stock(Future) Replacement
  • Bullish Risk Reversal

Listener questions and comments:


Volatility Views 261: Volatility Smorgasbord

Volatility Review: A look back at the week from a volatility perspective VIX Cash - 11.44, VVIX: 93.78 CBOE Skew Index - 129m, slightly calmer than last week. VIX Futures - Front month: 0.65 Second month: 1.25 Russell's Weekly Rundown: VIX Options:...
Posted July 3rd, 2017

Volatility Review: A look back at the week from a volatility perspective

  • VIX Cash - 11.44, VVIX: 93.78
  • CBOE Skew Index - 129m, slightly calmer than last week.
  • VIX Futures - Front month: 0.65 Second month: 1.25

Russell's Weekly Rundown:

  • VIX Options: Mon - 630k, Tues - 724k, Weds - 510k, Thurs - 1.16M, ADV - 685K, Total 8.32m (6.68m Calls, 1.65m Puts)
  • VIX Call/Put: 4.1 / 1
  • OIV - 29.35
  • OVX - 30.46

Volatility Voice Mail: Options Question of the week

Let's get back to basics. #Options are great way to get long (bullish) exposure to stocks & futures. What is your favorite way to go long?

  • 50% - Long Call/Call Spread
  • 23% - Short Put/Put Spread
  • 13% - Stock(Future) Replacement
  • 14% - Bullish Risk Reversal

Listener Questions: What's on your mind?

  • Question from John Shippen -If I buy ATM premium, maybe an ATM iron condor, a few weeks before earnings then sell it the day before the announcement, is that a good play? Essentially free decay plus capture the rise in volatility along with any swings in the underlying.
  • Question from FContangotrader -Do you guys have an idea when $VXX $UVXY will do reverse split? I am asking for a friend of mine.
  • Comment from David Kotlyar -UVXY reverse split July 17th
  • Question from SvxyBug -Mark, Mark, and Russell, Thanks for a great show. Two questions for you. If SVXY somehow goes the way of TVIX, would you imagine that XIV would go with it or is it managed independently of SVXY? Second question. Is using the call put ratio on VIX much of a leading indicator on the price movement of VIX? If so, do you normally see lead times in seconds, minutes, hours, days, or no lead time at all? Thanks very much for the show.

Crystal Ball: Your prognostication headquarters

Last week:

  • Mark L. - 9.70
  • Mark S. - 10.05
  • Russell - 9.25

This week:

  • Mark L. - 9.85
  • Mark S. - 10.05
  • Russell - 10.23


Options News Rundown: Monday, July 3, 2017

Options news you can use for Monday, July 3, 2017
Posted July 3rd, 2017

Options news you can use for Monday, July 3, 2017


Option Block 632: Managing Your Trades When You're Away

It's all strategy in this abridged episode of the Option Block. Today, uncle Mike discusses what you an do when you're not connected to your computer, including: Take your mobile device with you Have the phone number for the trading desk Contingent...
Posted June 30th, 2017

It's all strategy in this abridged episode of the Option Block. Today, uncle Mike discusses what you an do when you're not connected to your computer, including:

  • Take your mobile device with you
  • Have the phone number for the trading desk
  • Contingent orders and alerts
  • Why not to have a limit order on a contingency
  • Setting alerts

Options News Rundown: Friday, June 30, 2017

Options news you can use for Friday, June 30, 2017
Posted June 30th, 2017

Options news you can use for Friday, June 30, 2017


Options Playbook Radio 164: GOOGL Skip-Strike Butterfly

Today Brian covers a skip-strike butterfly, which you can find on page 109 of The Options Playbook. This is always available on OptionsPlaybook.com, in on the Amazon Kindle edition. Specifically: What are the right circumstances for trading a...
Posted June 29th, 2017

Today Brian covers a skip-strike butterfly, which you can find on page 109 of The Options Playbook. This is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.

Specifically:

  • What are the right circumstances for trading a skip-strike butterfly?
  • A bad news event in GOOGL creates an interesting situation for options traders
  • Where is GOOGL right now?
  • What exactly is a skip-strike butterfly?
  • What's our forecast?
  • Where is the at-the-money straddle?
  • Setting up the trade
  • Picking strikes
  • Picking expiration
  • What's the maximum risk?
  • What will this cost?
  • Butterfly considerations
  • What do we want to happen?

Do you have a question that you want featured on an upcoming episode of Options Playbook Radio? Send Brian an email at: [email protected].


Options News Rundown: Thursday, June 29, 2017

Options news you can use for Thursday, June 29, 2017
Posted June 29th, 2017

Options news you can use for Thursday, June 29, 2017


Options News Rundown: Wednesday, June 28, 2017

Options news you can use for Wednesday, June 28, 2017
Posted June 28th, 2017

Options news you can use for Wednesday, June 28, 2017


Option Block 631: Talking VIX, Apple, Bitcoin, Oil And More

Trading Block: Wall St. boosted by tech stocks, rebound in oil prices; Bitcoin Tumbles to Lowest Level in More Than a Week Odd Block: Put buying in Darden Restaurants (DRI), put spreads trading in iShares MSCI Taiwan Index (EWT) and puts trading in...
Posted June 27th, 2017

Trading Block: Wall St. boosted by tech stocks, rebound in oil prices; Bitcoin Tumbles to Lowest Level in More Than a Week

Odd Block: Put buying in Darden Restaurants (DRI), put spreads trading in iShares MSCI Taiwan Index (EWT) and puts trading in Iridium Communications (IRDM)

Mail Block: Options Question of the Week 1

Everyone is talking about #Bitcoin #Volatility these days. Where do you stand on #Bitcoin after last weeks aggressive downturn?

  • Too Volatile, I am out
  • I am still bullish
  • I want #Bitcoin #Options
  • I am sick of #Bitcoin

Options Question of the Week 2

Let's get back to basics. #Options are great way to get long (bullish) exposure to stocks & futures. What's your fav way to go long?

  • Long Call/Call Spread
  • Short Put/Put Spread
  • Stock(Future) Replacement
  • Bullish Risk Reversal

Listener Questions and Comments

  • Comment from FContangotrader - I cant wait to start trading options on bitcoin.
  • Comment from Mrs Wartsoff - Paper trading does not count!!!!
  • Question from Jeli -Can I buy longer term options than LEAPs?
  • Question from Andrew Freeman: I know mike is out of AAPL but if he had to make an options trade out there now what would it be? Theres no bid on the 70 puts and they only list December puts down to 80 where they are bid for nine cents.

Around the Block/This Week in the Market

  • Jun 27: Consumer Confidence
  • Jun 28: International Trade
  • Jun 29: Jobless Claims, GDP
  • Jun 30: Personal Income, Consumer Sentiment

Options News Rundown: June 27, 2017

Options news you can use for Tuesday, June 27, 2017
Posted June 27th, 2017

Options news you can use for Tuesday, June 27, 2017


Volatility Views 260: Petty Fights About Volatility

Volatility Review: A look back at the week from a volatility perspective. VIX Cash - 10.15, VVIX - 84.21, slightly higher than last week. VIX is not a Fortune Teller CBOE Skew Index - 130.86, calmer than last week. VIX Futures - Front month: 1.5,...
Posted June 26th, 2017

Volatility Review: A look back at the week from a volatility perspective.

  • VIX Cash - 10.15, VVIX - 84.21, slightly higher than last week.
  • VIX is not a Fortune Teller
  • CBOE Skew Index - 130.86, calmer than last week.
  • VIX Futures - Front month: 1.5, Second month: 2.3

Russell's Weekly Rundown:

  • VIX Options: Mon - 746k, Tues - 1.3M, Weds - 912k, Thurs - 347k
  • VIX Call/Put: 4.1 / 1
  • Twenty-two Day C/P OI Moving Average: 3.32
  • Total 7.08m (5.69m Calls, 1.39m Puts)
  • OIV - 31.5
  • OVX - 32.6

Volatility Voicemail: Questions. Comments. More.

Options question of the week: Everyone is talking about #Bitcoin #Volatility these days. Where do you stand on #Bitcoin after last weeks aggressive downturn?

  • Too Volatile, I am out
  • I am still bullish
  • I want #Bitcoin #Options
  • I am sick of #Bitcoin

Questions and comments

  • Comment from Production One? -SPX and VIX are far more fun! Also far more profitable and secure! Bitcoin snobs got nothing over the Vol cognoscenti!
  • Comment from PocketTissues -Goldman guy has the right idea. VIX should be above ten right now with everything going on. One good Trump tweet and we could be at war and VIX is in the 20s or 30s.
  • Question from Nico - What do you think of other Vix type indicators like Merrill Lynch Move Index and the rest? Also what?s up with VolDex?

Crystal Ball: Wild and reckless prognostication

This week

  • Mark L. - 9.70
  • Mark S. - 10.05
  • Russell - 9.25

This Week in Futures Options 57: Time for a QuikSkew Trade in Corn

Topics this week include: Corn Crude Oil/WTI Flash Poll: Crude Oil is taking a beating. Is the selloff overdone or is it a sign of things to come. Where do you think WTI will be at the end of 2017? Around here (40-45) Much lower (lower than 38) A...
Posted June 26th, 2017

Topics this week include:

  • Corn
  • Crude Oil/WTI

Flash Poll: Crude Oil is taking a beating. Is the selloff overdone or is it a sign of things to come. Where do you think WTI will be at the end of 2017?

  • Around here (40-45)
  • Much lower (lower than 38)
  • A little higher (50-55)
  • Much higher (above 55)

Futures Options Feedback: Listener questions and comments

Question from Ian Wagner: Hey TWIFO. I'm confused about gold options. Is there an options contract that tracks the future that is liquid?

Question from Ron Switzerland: What do you think about vol before the next USDA reports in corn?

Question from Mr. Bugato: What's paying the rent this week?

QOTW: Everyone is talking about #Bitcoin #Volatility these days. Where do you stand on #Bitcoin after last weeks aggressive downturn?

  • Too volatile, I am out
  • I am still bullish
  • I want #Bitcoin #Options
  • I am sick of #Bitcoin

Options News Rundown: June 26, 2017

Options news you can use for Monday, June 26, 2017
Posted June 26th, 2017

Options news you can use for Monday, June 26, 2017


Automation: The Business Show Episode 16

In this special episode, the crew is joined by Mark's CTO, Sam, to talk about the repercussions of the impending automation Armageddon. They hit ya with the Market Beat, and another classic Quiz-off! Listen to it before the robots take over!
Posted June 23rd, 2017

In this special episode, the crew is joined by Mark's CTO, Sam, to talk about the repercussions of the impending automation Armageddon. They hit ya with the Market Beat, and another classic Quiz-off! Listen to it before the robots take over!


Option Block 630: Don't Get too Cute when Closing Trades

Trading Block: Taking the weekend out of the market. Biotech and the effect of the AHCA bill. Crude and the energy section taking it on the chin. Odd Block: Puts trade in Plains All American Pipeline, L.P. (PAA) call spreads trade in Praxair, Inc....
Posted June 23rd, 2017

Trading Block: Taking the weekend out of the market. Biotech and the effect of the AHCA bill. Crude and the energy section taking it on the chin.

Odd Block: Puts trade in Plains All American Pipeline, L.P. (PAA) call spreads trade in Praxair, Inc. (PX).

Strategy Block: Mike discusses trading size and closing positions.

Mail Block: Listener Questions and Comments

  • Question from Frank C. - Can you do a review of second order Greeks and when to use them? Thanks.
  • Question from ZX45 - Is now actually a good time to become a market maker? I read in Barons that there are not many of them left, so there is not much competition. And how did Mike get in it if he was not a trader?

Around the Block: Bargain shopping for a sub-10 VIX close.


Options Insider Radio Interviews: Talking Rates, the Fed and More with Wedbush

In this episode, Mark is joined by Arthur Bass, Managing Director Fixed Income Financing, Futures, and Rates at Wedbush. They discuss: Arthur's backgroun in the finance space The recent Fed meeting, no big surprises there Good employment numbers and...
Posted June 23rd, 2017

In this episode, Mark is joined by Arthur Bass, Managing Director Fixed Income Financing, Futures, and Rates at Wedbush.

They discuss:

  • Arthur's backgroun in the finance space
  • The recent Fed meeting, no big surprises there
  • Good employment numbers and low inflation...where do we go from here?
  • Will it be a policy error to continue increasing rates
  • Is there too much information coming from the Fed?
  • The Wedbush growth, including KCG, Crossland and EFutures acquisitions
  • And more

OICs Wide World of Options 37 - Choosing a Strategy and Dark Pool Trading

WWoO Show 37 - Choosing a Strategy and Dark Pool Trading In this prerecorded show, Kevin Baldwin from OIC speaks with Joe Burgoyne about what to consider when selecting an options strategy. Then on Profiles & Perspectives, Stefanie Kammerman from...
Posted June 23rd, 2017

WWoO Show 37 - Choosing a Strategy and Dark Pool Trading

In this prerecorded show, Kevin Baldwin from OIC speaks with Joe Burgoyne about what to consider when selecting an options strategy. Then on Profiles & Perspectives, Stefanie Kammerman from The Stock Whisperer Trading Company explains dark pool trading.


Options News Rundown: June 23, 2017

Options news you can use for Friday, June 23, 2017
Posted June 23rd, 2017

Options news you can use for Friday, June 23, 2017


Options Playbook Radio 163: Listener Question Palooza, Continued

The Huddle: Listeners weigh in with questions Question from Steve - With the VIX so low, I am not selling a lot of options anymore, because I am afraid that I will not collect enough premium. Am I thinking of this incorrectly? Question from Lincan...
Posted June 22nd, 2017

The Huddle: Listeners weigh in with questions

  • Question from Steve - With the VIX so low, I am not selling a lot of options anymore, because I am afraid that I will not collect enough premium. Am I thinking of this incorrectly?
  • Question from Lincan -My go-to options strat is to sell covered puts on stocks that I want to buy then get paid to wait. If the stock comes my way I eventually trade out of it using a covered call. What do you think? Savvy or stupid?

Do you have a question that you want featured on an upcoming episode of Options Playbook Radio? Send Brian an email at: [email protected].


Options News Rundown: June 22, 2017

Options news you can use for Thursday, June 22, 2017
Posted June 22nd, 2017

Options news you can use for Thursday, June 22, 2017


Options Bootcamp 66: Trading Calendar Spreads During Earnings

Options Drills: What is a calendar? How do we set them up for earnings? Strike/Month selection? Should we carry them through the event? When do we take off? Calendars vs. Diagonals? Mail Call: Fall in recruits and get your questions asked. With $VIX...
Posted June 21st, 2017

Options Drills: What is a calendar? How do we set them up for earnings? Strike/Month selection? Should we carry them through the event? When do we take off?
Calendars vs. Diagonals?

Mail Call: Fall in recruits and get your questions asked.

With $VIX giving up the ghost - which products are you hoping will provide new sources of #Volatility for your #options trading?

  • 33% - Crude Oil (WTI, etc)
  • 20% - Metals ($GLD, $SLV, etc)
  • 20% - FX (GBP/USD, etc)
  • 27% - Indv. Equities-$TSLA, etc

VIX Limbo: Last Month 40+% of you said $VIX wouldn't break 9 in 2017. But recent events have us asking again: How low will $VIX get in 2017?

  • Still Won't Break 9
  • Won't Break 8.5
  • Won't Break 8.0
  • Lookout - 7 Handle in '17

Listner Questions and Comments: What is on your mind?

  • Question from Lesnod - How do you get out of the straddles? One side of a straddle is always a loss correct?
  • Question from Meatz - Would you describe successful options trading as primarily singles and doubles or more swing for the fences home runs?
  • Question from Bulzeye7 - Are options worth it for day-traders? Or just for swing-traders?
  • Question from Axel D - What does open interest only update once a day?
  • Question from Mary - What is the shortest expiry available for plain vanilla options?
  • Question from Lincan - ;My go to options strat is to sell covered puts on stocks that I want to buy then get paid to wait. If the stock comes my way I eventually trade out of it using a covered call. What do you think? Savvy or stupid?
  • Question from Steve: With the VIX so low, I am not selling a lot of options anymore, because I am afraid that I will not collect enough premium. Am I thinking of this incorrectly?

Trading Tech Talk 61: Tackling Market Data Fees, AI and More

Today we have special guest co-host Rob Brogan from Flextrade. Hot Topics in Tech: What's going on in fintech? NYSE wins approval for 'speed bump' in trading Bloomberg is taking a shot at the New York Stock Exchange (again) Exchanges becoming tech...
Posted June 21st, 2017

Today we have special guest co-host Rob Brogan from Flextrade.

Hot Topics in Tech: What's going on in fintech?


Options News Rundown: June 21, 2017

Options news you can use for Wednesday, June 21, 2017
Posted June 21st, 2017

Options news you can use for Wednesday, June 21, 2017


Option Block 629: Bitcoin, VIX and Becoming a Pro Trader

Trading Block: Green screens. Did we turn a corner? Channeling Don S. Do we have a lack of shellac? AMZN needs WFM to grow? Everyone wants to be everything. Mike's disclosure moment. Odd Block: Puts trade in Marriott Vacation Club (VAC), puts roll in...
Posted June 20th, 2017

Trading Block: Green screens. Did we turn a corner? Channeling Don S. Do we have a lack of shellac? AMZN needs WFM to grow? Everyone wants to be everything. Mike's disclosure moment.

Odd Block: Puts trade in Marriott Vacation Club (VAC), puts roll in Alerian MLP (AMLP) and put buying in Pattern Energy Group (PEGI).

Mail Block: Options question of the week

Everyone is talking about #Bitcoin #Volatility these days. Where do you stand on #Bitcoin after last week's aggressive downturn?

  • Too Volatile - I'm out
  • I'm still bullish
  • I want #Bitcoin #Options
  • I'm sick of #Bitcoin

Listener Questions:

  • Comment from Production One: SPX and VIX are far more fun
  • Question from Ejh4isu: What qualifications do I need to work in the industry as a professional, i.e. as a trader? Is that a career path I'd even want to consider?

Around the Block: Watching tech. 2500 on the S&P, 8 on the VIX?


This Week in Futures Options 56: Breakdown Palooza - Emini, Rates, Crude and Bitcoin

Topics this week include: E-Minis Rates - Question from Allan German - What happened in rates options this week with the Fed? Crude Futures Options Feedback: Polls, questions, answers, and more! With $VIX giving up the ghost - which products are you...
Posted June 19th, 2017

Topics this week include:

  • E-Minis
  • Rates - Question from Allan German - What happened in rates options this week with the Fed?
  • Crude

Futures Options Feedback: Polls, questions, answers, and more!

With $VIX giving up the ghost - which products are you hoping will provide new sources of #Volatility for your #options trading?

  • 33% - Crude Oil (WTI, etc.)
  • 20% - Metals ($GLD, $SLV, etc.)
  • 20% - FX (GBP/USD, etc.)
  • 27% - Indv. Equities-$TSLA, etc.

Listener questions:

  • Question from Meravol - Interesting piece in current Modern Trader about selling breakeven strangles. Have you seen? What are your thoughts of this technique? Is it me or are there new techniques for selling strangles all the time that always tend to blow out? Are you not better off selling IC or IB due to limited risk? http://www.futuresmag.com/2016/08/23/strangles-breakeven-pricing
  • Question from Tim Vickers - Do you put out a Quickskew report or anything like that?
  • Comment from LennyK -Dude Bitcoin. How nice it would have been to have a put this week.

Volatility Views 259: Revenge of VIX Mullets and Tellums

Volatility Review with special guest co-host Mike Thompson from Typhon Capital Management. Weird Nasdaq selloff that started during last show continues. Amazon looks to buy Whole Foods. VIX Cash - 10.90, VVIX - 89.95, slightly higher than last week....
Posted June 19th, 2017

Volatility Review with special guest co-host Mike Thompson from Typhon Capital Management.

  • Weird Nasdaq selloff that started during last show continues.
  • Amazon looks to buy Whole Foods.
  • VIX Cash - 10.90, VVIX - 89.95, slightly higher than last week.
  • CBOE Skew Index - 134.12, nearly 10 points higher than 2 weeks ago.
  • VIX Futures - Front month: .6, Second month: 1.5

Russell's Weekly Rundown

  • VIX Options: Mon - 780k, Tues - 331k, Wed - 658k, Thurs - 396k, ADV - 713k, VIX Call/Put: 3.5/1; Total 10.1m (7.85m Calls, 2.26m Puts)
  • VXX - ADV 364k, OI - 1.3/1 Calls over puts.
  • OIV - 29.45
  • OVX - 31.90

Volatility Voicemail: Alternative volatility sources

With $VIX giving up the ghost - which products are you hoping will provide new sources of #Volatility for your #options trading?

  • 33% - Crude Oil (WTI, etc.)
  • 20% - Metals ($GLD, $SLV, etc.)
  • 20% - FX (GBP/USD, etc.)
  • 27% - Indv. Equities-$TSLA, etc.

VIX LIMBO: Last Month 40+% of you said $VIX wouldn't break 9 in 2017. But recent events have us asking again: How low will $VIX get in 2017?

  • Still Won't Break 9
  • Won't Break 8.5
  • Won't Break 8.0
  • Lookout! 7 Handle in '17

Listener questions and comments

  • Comment from Angelo - The point from Barclay's about convexity of SPX puts is somewhat meaningless. As long as market stays lofty the bid for those puts will remain. I do not foresee a scenario where market remains elevated but the bid mysteriously disappears for SPX OTM puts. So the VIX cannot realistically break into the 7 or 8 handle. Did like the stat about VIX prints since 1960 though.

Crystal Ball: Wild prognostication.

Last week

  • Mark L. - 9.75
  • Mark S. - 9.63
  • Russell - 10.60
  • Guest - 10

This week

  • Mark L. - 10.50
  • Mark S. - 10.05
  • Ghost of Russell - 9.15
  • Guest - 12.25

Options News Rundown: June 19, 2017

Options news you can use for Monday, June 19, 2017
Posted June 19th, 2017

Options news you can use for Monday, June 19, 2017


Option Block 628: Fed, Trump Tantrums And Closing Your Longs

Trading Block: The Federal Reserve announced a quarter-point rate hike Wednesday as expected. The market keeps shrugging off news about Trump. The news deluge, with its quasi facts, is making people numb. Odd Block: Puts trade in Tesla Motors (TSLA),...
Posted June 16th, 2017

Trading Block: The Federal Reserve announced a quarter-point rate hike Wednesday as expected. The market keeps shrugging off news about Trump. The news deluge, with its quasi facts, is making people numb.

Odd Block: Puts trade in Tesla Motors (TSLA), puts roll in Yamana Gold Inc (AUY) and puts trade in Accelerate Diagnostics, Inc. (AXDX).

Strategy Block: Uncle Mike Tosaw discusses closing out long SPY call spreads

Mail Block: VIX Limbo

Last Month 40+% of you said $VIX wouldn't break 9 in 2017. But recent events have us asking again: How low will $VIX get in 2017?

  • Still Won't Break 9
  • Won't Break 8.5
  • Won't Break 8.0
  • Lookout! 7 Handle in '17

Listener Questions and Comments:

  • Question from Sal06 - Hello, Just wondering if you could help me I have a $100 call strike for Shopify at a average of 5.88 I bought a week ago. Do you think I have a chance for it to recover?
  • Question from NanFran - Tomorrow is a triple witching hour. What does that mean for options?

Around the Block/This Week in the Market:

  • Jun 16: Housing Starts, Consumer Sentiment

Options News Rundown: Friday, June 16, 2017

Options news you can use for Friday, June 16, 2017
Posted June 16th, 2017

Options news you can use for Friday, June 16, 2017


Options Playbook Radio 162: Listener Question Palooza

It's all listener questions in this special edition of Options Playbook Radio Question from Ejh4isu - If I buy/sell a vertical on SPX (or any equity stock for that matter) and hold until expiration, and SPX settles between the strikes, what happens ?...
Posted June 15th, 2017

It's all listener questions in this special edition of Options Playbook Radio

  • Question from Ejh4isu - If I buy/sell a vertical on SPX (or any equity stock for that matter) and hold until expiration, and SPX settles between the strikes, what happens ? Example: sell 2395/2400 and SPX settles at 2397.
  • Question from Kraken1975 - Which of the Greeks do you utilize the most and why?
  • Question from ButcherBoyz - What options trading strategy would you say is best suited to people with absolutely zero knowledge of options? Thanks.

Do you have a question that you want featured on an upcoming episode of Options Playbook Radio? Send Brian an email at: [email protected].


Options News Rundown: Thursday, June 15, 2017

Options news you can use for Thursday, June 15, 2017
Posted June 15th, 2017

Options news you can use for Thursday, June 15, 2017


Advisors Option 56: How to Sell Options When VIX is Low

In this episode Mark is joined by co-hosts: Chris Hausman, Portfolio & Chief Technical Strategist, Swan Global Investments Aash Vyas, Director of Portfolio Strategy and Overlays, Swan Global Investments Mike Tosaw, RCM Wealth Advisors Ilya...
Posted June 14th, 2017

In this episode Mark is joined by co-hosts:

  • Chris Hausman, Portfolio & Chief Technical Strategist, Swan Global Investments
  • Aash Vyas, Director of Portfolio Strategy and Overlays, Swan Global Investments
  • Mike Tosaw, RCM Wealth Advisors
  • Ilya Feygin, Senior Strategist, Wallachbeth

Tricks of the Trade: Selling options in a low volatility environment.

What are some ways that advisors/asset managers can maintain the income component of their portfolios, without taking unnecessary risks?

  • Selling ITM options?
  • Selling longer-term options?
  • Changing underlying?

Options 101: Information advisors need to know

The Buzz: What is happening in the industry?

Office Hours: Question from Ian Wagner: Why trade volatility vs direction or income? Preference? More favorable risk/reward profile?


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The Options Insider Radio Network

All of our radio programs in one convenient place.

The Options Insider Radio Network

Options Insider Radio

The original options podcast. Features interviews with leading options figures.

Options Insider Radio

The Option Block

This high-octane program features education, analysis, strategies and unusual activity.

The Option Block

Volatility Views

The premier radio program for volatility traders.

Volatility Views

The Long And Short Of Futures Options

Your source for futures options information.

The Long And Short Of Futures Options

The Advisor's Option

Arming advisors with the info necessary to manage risk.

The Advisor's Option

Options Boot Camp

Get into peak options trading shape.

Options Boot Camp

Options Insider Special Events

Compelling panel & special event recordings from the options world.

Options Insider Special Events

OIC's Wide World of Options

A dynamic mix of current events, investor resources, & strategy insights.

OIC's Wide World of Options

Trading Tech Talk

We break down all the amazing technology that takes your trades from the click of a mouse to the clearinghouse.

Trading Tech Talk

Options Playbook Radio

Break down cutting-edge options strategies and learn how to incorporate them into your portfolio

Options Playbook Radio

Options Oddities

We track all the unusual options trading activity on Options Oddities.

Options Oddities

This Week in Futures Options

The program designed to help active futures options traders stay on top of this ever-changing marketplace. 

This Week in Futures Options

The Business Show

If you like business, if you like humor, if you like stock symbols, this is the podcast for you.

The Business Show

Options Playbook Radio 155: AMZN Skip-Strike Butterfly

Earnings season makes an AMZN skip-strike butterfly an interesting prospect.

Options Playbook Radio 155: AMZN Skip-Strike Butterfly