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 660: NFLX Kicks off Earnings Season

Trading Block: Earnings! Netflix, ATM straddle - $15.30, approx. 7.5% Tuesday - IBM Wednesday -Alcoa Thursday - Verizon, PayPal, Etrade Friday - Honeywell, P&G Odd Block: Size upside love in Comcast Corp. (CMCSA), size roll in Alerian MLP (AMLP)...
Posted October 17th, 2017

Trading Block: Earnings!

  • Netflix, ATM straddle - $15.30, approx. 7.5%
  • Tuesday - IBM
  • Wednesday -Alcoa
  • Thursday - Verizon, PayPal, Etrade
  • Friday - Honeywell, P&G

Odd Block: Size upside love in Comcast Corp. (CMCSA), size roll in Alerian MLP (AMLP) and funky ratio vertical/stupid in Himax Technologies, Inc. (HIMX).

Mail Block: Options question of the week

Earnings Season is almost upon us! What's your favorite way to trade earnings using #Options?

  • Sell Strad./Fly/Condor
  • Buy Strad./Fly/Condor
  • Sell Puts/Put Spreads
  • Buy Calls/ Call Spreads

Listener questions and comments:

  • Comment from PeterPan @pierhk - ATM straddle...Buy with ATR>2
  • Comment from Trader J Rae @traderjrae -Usually a collar or protective put. Everything else held over earnings is a gamble, not a trade.

Another options question of the week:

Earnings Season is here! Which name do you plan to trade most actively this cycle?

  • Tesla - $TSLA
  • Amazon - $AMZN
  • Apple - $AAPL
  • Alphabet - $GOOGL
  • Comment from Trade With Bulls LLC - $INTC

Still more questions:

  • Question from McGillIMontreal: Had a question regarding $GIL and two large 3K 30 strike puts on 10/9 with earnings 11/2. Can you guys explain any rationale around that?
  • Question from Ascentaa- What can happen to the current options being held of KITE which is acquired by GILD and is being delisted

Around the Block: GS tomorrow before the bell, ATM straddle - $6.10, approx. 2.5%.


Options News Rundown: Tuesday, October 17, 2017

Options news you can use for Tuesday, October 17, 2017
Posted October 17th, 2017

Options news you can use for Tuesday, October 17, 2017


Volatility Views 276: Crazy VXX Puts and VIX Put Spreads

Volatility Review: A look back at the week from a volatility perspective Secrets To The Hottest Trade - Shorting VIX The Numbers: VIX - Hit a low of 9.13 on Oct. 5 - still flirting with single digits. VVIX - 97.79, CBOE Skew Index - 146, VXN - 14.33...
Posted October 16th, 2017

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

Secrets To The Hottest Trade - Shorting VIX

The Numbers:

  • VIX - Hit a low of 9.13 on Oct. 5 - still flirting with single digits.
  • VVIX - 97.79, CBOE Skew Index - 146, VXN - 14.33

Kevin's Weekly Rundown

  • VIX Options: ADV - 868k, VIX Call/Put: 3.8
  • Total 13.4m (10.6m Calls, 2.77m Puts)
  • VXX - 35.97, XIV - 105.87, UVXY - 17.36

Volatility Voicemail: Options question of the week

Earnings Season is almost upon us! What's your favorite way to trade earnings using #Options? Reply/DM/email with others.

  • Sell Strad./Fly/Condor
  • Buy Strad./Fly/Condor
  • Sell Puts/Put Spreads
  • Buy Calls/ Call Spreads

Crystal Ball: Your VIX prognostication headquarters

Last week:

  • Mark L. - 9.65
  • Mark S. - 10.01
  • Russell - 10.31

This week:

  • Mark L. - 9.55
  • Mark S. - 10.25
  • Kevin - 10.00

This Week in Futures Options 73: More Crazy Gold Fun, Plus Collar Questions

Topics this week include: Gold Crude Oil Winners: Nat Gas, Palladium Losers: Class 3 Milk, Wheat Futures Options Feedback: Listeners tell us what's on their minds Question from TMD4817: Which is a better timeframe for maxing a 1-3 day "swing" trade...
Posted October 16th, 2017

Topics this week include:

  • Gold
  • Crude Oil
  • Winners: Nat Gas, Palladium
  • Losers: Class 3 Milk, Wheat

Futures Options Feedback: Listeners tell us what's on their minds

  • Question from TMD4817: Which is a better timeframe for maxing a 1-3 day "swing" trade with options: wkly expire vs out 1 month vs out 2-3 month
  • Question from Patrick Rooney: Do you use futures in your strategies? For hedging perhaps? If so, which? $ES_F? $VX_F? Other?
  • Question from OpeningBellCo: Which English soccer team do you support? $MANU or not?
  • Question from GGLee: Buying collars means buying skew and paying up. So does it stand that the best spy trade is selling skew by selling 25 delta puts and buying 25 delta calls? Maybe add a cheap hedge with 5 or 10 delta put in case worst comes to pass? Right now I can sell the SPY Oct 25D put for $.55, buy the Oct 25D call for $.55 and then buy put hedge for about $.20 net outlay. Thoughts?

Options News Rundown: Monday, October 16, 2017

Options news you can use for Monday, October 16, 2017
Posted October 16th, 2017

Options news you can use for Monday, October 16, 2017


Option Block 659: The Dark Side of Vertical Spreads

Trading Block: Roku hit the trading floor. We present some stats from the first week. ADV: 4413 contracts OI: 12,800 contracts, puts slightly outnumber calls 1.2/1. Plus, the craziest gold trade of the year. Odd Block: Size put roll in iShares...
Posted October 13th, 2017

Trading Block: Roku hit the trading floor. We present some stats from the first week.

  • ADV: 4413 contracts
  • OI: 12,800 contracts, puts slightly outnumber calls 1.2/1.

Plus, the craziest gold trade of the year.

Odd Block: Size put roll in iShares S&P 500 Index Fund (XSP), funky prints in Applied Materials, Inc. (AMAT) and combo Swap/Roll in Edwards Lifesciences Corp (EWW).

Strategy Block: Uncle Mike Tosaw discusses managing vertical spreads.

Mail Block: Options question of the week

EarningsSeasons is almost upon us! What's your favorite way to trade earnings using #Options?

  • Sell Strad./Fly/Condor
  • Buy Strad./Fly/Condor
  • Sell Puts/Put Spreads
  • Buy Calls/Call Spreads

Around the Block: Everything macro and the lack of reactions to everything macro. VIX futures. Earnings are coming up. AI rally?


Options News Rundown: Friday, October 13, 2017

Options news you can use for Friday, October 13, 2017
Posted October 13th, 2017

Options news you can use for Friday, October 13, 2017


Options Playbook Radio 179: The In-Between Greeks

It's time to tackle listener questions again on Options Playbook Radio. In this episode, Mark and Brian cover: Question from Albert Deckel - First, I want to thank you for all the effort you place into the options playbook. I find your lessons...
Posted October 12th, 2017

It's time to tackle listener questions again on Options Playbook Radio. In this episode, Mark and Brian cover:

  • Question from Albert Deckel - First, I want to thank you for all the effort you place into the options playbook. I find your lessons absolutely clear, understandable and instructive....a rare combination!! I bought your book and find that, also, clear and concise and very informative. Two questions: While I understand how to convert a "Delta" into meaning, I really don't understand what consists of a "high" vs. "low" Gamma, Theta or Vega. For example, when is theta so high that it makes the purchase of an contract dubious, or Vega so high that it makes the purchase of an OTM contract desirable? Also, if I were to write an ITM put, what combination of Delta, Gamma, Theta or Vega am I looking for? Thanks so much!! Al
  • Question from Tim - Why isn't it standard or maybe required to let people close out shorts for free below $.10?

Options News Rundown: Thursday, October 12, 2017

Options news you can use for Thursday, October 12, 2017
Posted October 12th, 2017

Options news you can use for Thursday, October 12, 2017


Options News Rundown: Wednesday, October 11, 2017

Options news you can use for Wednesday, October 11, 2017
Posted October 11th, 2017

Options news you can use for Wednesday, October 11, 2017


Best of Option Block: Does a High Skew Signal the Zombie Apocalyps

Recorded on March 20, 2017, this Best of Option block looks back on when the SKEW index finally popped. Posted March 21st, 2017 Trading Block: Apple continues to rally. NASDAQ touches fresh intra-day record, but stocks fight for traction. CBOE Skew...
Posted October 10th, 2017

Recorded on March 20, 2017, this Best of Option block looks back on when the SKEW index finally popped.

Posted March 21st, 2017

Trading Block: Apple continues to rally. NASDAQ touches fresh intra-day record, but stocks fight for traction. CBOE Skew Index trending higher. It's about time.

Odd Block: Puts trade in GameStop Inc. (GME), call spreads trade in FireEye Inc. (FEYE) and puts trade in Grupo Televisa SAB (TV).

Mail Block: Polls, upsets, questions, and more.

Options #BrokerMadness tournament going on now.

  • Tough battle today in #options #BrokerMadness as @optionsXpress takes on @IBKR, Who will emerge to take on @TradingBlock?
  • @LSFinancial crushing @tradier

Options #QuestionoftheWeek: In #BrokerMadness spirit, lets bring the fight to exchanges. What is your fav? Where do you send your business?

  • CBOE/BATS
  • NYSE/Arca/AMEX
  • NASDAQ/PHLX/ISE
  • Other: BOX,MIAX, etc

Listener question:

  • Question from JVao - Sell put + buy call = long delta exposure = cheaper than buying the underlying = maximizing skew = why does everyone not do this?

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

Earnings!

  • Tuesday - Nike, FedEx
  • Thursday- GameStop

This week in the market:

  • Mar 22: Existing Home Sales
  • Mar 23: Jobless Claims, New Home Sales
  • Mar 24: Durable Goods

Options News Rundown: Tuesday, October 10, 2017

Options news you can use for Tuesday, October 10, 2017
Posted October 10th, 2017

Options news you can use for Tuesday, October 10, 2017


Volatility Views 275: Fed Data Rebukes Crowded VIX Trade Myth

Volatility Review: A look back on the week from a volatility perspective. VIX Cash - A low of 9.13 on Oct. 5 VVIX - 91.79, CBOE Skew Index - 140 Russell's Weekly Rundown Fed Survey on Firm Uses of Equity Volatility, By Russell Rhoads, CFA VIX...
Posted October 9th, 2017

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

  • VIX Cash - A low of 9.13 on Oct. 5
  • VVIX - 91.79, CBOE Skew Index - 140

Russell's Weekly Rundown

  • Fed Survey on Firm Uses of Equity Volatility, By Russell Rhoads, CFA
  • VIX Options - VIX Call/Put: 3.7, Total 12.0m (9.44m Calls, 2.52m Puts)
  • VXX - 37.95, XIV - 100.57

Volatility Voicemail: Options question of the week

Break out your #VOLATILITY #CRYSTALBALL: $VIX is at new lows. Is an 8 $VIX looming or is this just a blip? Where will $VIX close Friday 10/6

  • Right Here: 9-9.30
  • Lower: < 9
  • Slightly Higher: 9.3-9.60
  • Much Higher: > 9.6

Listener questions and comments: What's on your mind?

  • Question from Gunjan Banerji? - What were the hot $VIX strikes this past week?
  • Question from PBiggers - What strategy will long vix while minimizing contango?
  • Comment from FContangotrader - I took personal loan and i bought vxx put spreads long term while I'm long some gamma on $spy, speaking of crazy.
  • Question from Lenz - When is the CBOE Asia conference?
  • Crystal Ball: Wild and reckless prognostication

Last week:

  • Mark L. - 9.7
  • Andrew - 9.99
  • Russell - 9.42

This week:

  • Mark L. - 9.65
  • Mark S. - 10.01
  • Russell - 10.31

This Week in Futures Options 72: The Craziest Gold Trade of the Year

Topics this week include: Crude hitting an important psychological number Comment from Alan: I'm down for some lean hogs and livestock Hogs, hog skew (gesundheit) and going hog wild Gold, no love for the weeklies, but standard contracts are golden ...
Posted October 9th, 2017

Topics this week include:

  • Crude hitting an important psychological number
  • Comment from Alan: I'm down for some lean hogs and livestock
  • Hogs, hog skew (gesundheit) and going hog wild
  • Gold, no love for the weeklies, but standard contracts are golden
    • 15,000 Dec 2018 3000-strike calls trade; plus 7,500 each of the 2000 and 2600 strikes.
    • Fat fingers?
    • Doomsday prepper?
    • Mark is rendered speechless

Futures Options Feedback: What is on your mind?

  • Question from GNDLF: Which product has the crazies skew? The juciest calls, puts, or both?
  • Question from IML: Could the put skew in WTI potentially be due to electric car makers scrambling to hedge their primary risk?
  • Question from Mike T.: Where do I get all this CME research?
  • Question from NN78: If they did list Bitcoin options, how do you think the skew will look?

Options News Rundown: Monday, October 9, 2017

Options news you can use for Monday, October 9, 2017
Posted October 9th, 2017

Options news you can use for Monday, October 9, 2017


Options Insider Radio Interviews: Exploring the European Options Landscape with Saxo Bank

In this episode, Mark is joined by Georgio Stoev, Product Manager for Futures and Listed Options at Saxo Bank. They discuss: Georgio's background in the financial services industry Saxo Bank is diving into options What else does Saxo Bank offer? Who...
Posted October 6th, 2017

In this episode, Mark is joined by Georgio Stoev, Product Manager for Futures and Listed Options at Saxo Bank.

They discuss:

  • Georgio's background in the financial services industry
  • Saxo Bank is diving into options
  • What else does Saxo Bank offer?
  • Who do they partner with?
  • The popularity of options for European institutional investors
  • What percentage of their options flow is European versus American-based?
  • What about warrants?
  • Are options becoming more popular with European investors in general?
  • What are some changes to the European regulatory environment?
  • And more

Option Block 658: Tree Blights and SKEW Funds

Trading Block: UPS and FedEx stocks fall as Amazon moves further into delivery space. CBOE Holdings plans listing of Roku (ROKU) options with an expected start date of October 6. Odd Block: More TSLA ?Catastrophe" puts. 8/28 - Ratio risk reversal in...
Posted October 6th, 2017

Trading Block: UPS and FedEx stocks fall as Amazon moves further into delivery space. CBOE Holdings plans listing of Roku (ROKU) options with an expected start date of October 6.

Odd Block: More TSLA ?Catastrophe" puts. 8/28 - Ratio risk reversal in Dollar General (DG). 8/28 - Nickel put palooza in (PSTG). 8/17 - Call frenzy in (XLU).

Strategy Block: Tosaw discusses interest rates and a new fund through RCM.

Mail Block: Listeners have their say

Options question of the week: Everyone's got electric cars on the brain. How are you playing the shift to electric in your #Options trading? $TSLA $GM

  • Sell $TSLA Puts/Buy Calls
  • Sell $GM Puts/Buy Calls
  • Electric Cars Are A Fad!
  • Other - Reply/DM w/Choice

Listener qusetions and comments: What's on your mind?

  • Question from Yieldhawk - @Options is it true that MM's give each other signals tough pre specified order size?
  • Question from Nelly2 - Just so I'm clear on the spread assignment thing. If I'm in SPX then I just get cash if the index closes inside my spread. But if I'm in a stock then I get the stock?

Around the Block: What might happen to move the market?


Options News Rundown: Friday, October 6, 2017

Options news you can use for Friday, October 6, 2017
Posted October 6th, 2017

Options news you can use for Friday, October 6, 2017


Options Playbook Radio 178: Looking into AAPL Butterflies

We are continuing the discussion of options pricing. This week we take a deep dive into pricing of a butterfly. Specifically: Looking at a 10-day butterfly in AAPL Picking a five-point spread What strikes and expirations to choose? What will this...
Posted October 5th, 2017

We are continuing the discussion of options pricing. This week we take a deep dive into pricing of a butterfly.

Specifically:

  • Looking at a 10-day butterfly in AAPL
  • Picking a five-point spread
  • What strikes and expirations to choose?
  • What will this cost?
  • What is the maximum risk and reward?
  • What do we want to happen?
  • What impacts the pricing of butterflies?
  • Managing expectations
  • Looking at the same thing for a November 17 expiration
  • What is the ideal scenario?

Options News Rundown: Thursday, October 5, 2017

Options news you can use for Thursday, October 5, 2017
Posted October 5th, 2017

Options news you can use for Thursday, October 5, 2017


Options News Rundown: Wednesday, October 4, 2017

Options news you can use for Wednesday, October 4, 2017
Posted October 4th, 2017

Options news you can use for Wednesday, October 4, 2017


Option Block 657: Trading Options on Electric Cars

Trading Block: A quick overview of our live show from last week. OCC cleared contract volume last month down 9% from September 2016. Odd Block: A quick summary of the TSLA "catastrophe" puts. Size opening combo in General Motors Company (GM). Puts...
Posted October 3rd, 2017

Trading Block: A quick overview of our live show from last week. OCC cleared contract volume last month down 9% from September 2016.

Odd Block: A quick summary of the TSLA "catastrophe" puts. Size opening combo in General Motors Company (GM). Puts roll into collar in United States Natural Gas Fund (UNG). Size vertical roll in Caesars Entertainment Corp (CZR).

Mail Block: Listeners have their say

Options question of the week:

Everyone's got electric cars on the brain. How are you playing the shift to electric in your #Options trading?

  • Sell $TSLA Puts/Buy Calls
  • Sell $GM Puts/Buy Calls
  • Electric Cars Are A Fad!
  • Other, Reply/DM w/Choice

Listener Questions: What's on your mind?

  • Question from Salman Azhar - When are $ROKU stock options going to start trading?
  • Question from Intelligence Man - Where can I see existing active options contracts?

Around the Block: Las Vegas. Puerto Rico. Oil. VIX futures. Will we have five straight days of VIX below 10?


Options News Rundown: Tuesday, October 3, 2017

Options news you can use for Tuesday, October 3, 2017
Posted October 3rd, 2017

Options news you can use for Tuesday, October 3, 2017


Volatility Views 274: All Aboard the Cheap IV Train

Volatility Review: A look back at the week from a volatility perspective 6% IV, all aboard! The numbers: VIX Cash - low of 9.55 on Thursday. VVIX - 94 CBOE Skew Index - 133 Russell's Weekly Rundown: VIX Options: ADV - 813k, 2.6M on Monday! VIX...
Posted October 2nd, 2017

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

6% IV, all aboard!

The numbers:

  • VIX Cash - low of 9.55 on Thursday.
  • VVIX - 94
  • CBOE Skew Index - 133

Russell's Weekly Rundown:

  • VIX Options: ADV - 813k, 2.6M on Monday! VIX call/put, Total 11.4m (8.92m Calls, 2.48m Puts)
  • OIV - 26.53

Volatility Voicemail: Listeners have their say

  • Question from LL08 - Crazy! Is this true?
  • Question from Tech Coleslaw - Can you talk a little bit more about ZIV and mid-term Vol?
  • One of our listeners is running for Congress - @RogerBarone @OPTIONS More voices are better than less.

Crystal Ball: Wild and reckless prognostication

Last week:

  • Mark L. - 9.75
  • Mark S. - 11
  • Russell - 10.10

This week:

  • Mark L. - 9.2
  • Andrew - 9.99
  • Russell - 9.42

This Week in Futures Options 71: Livestock Products Are a Whole Different Beast

Topics this week include: Crude Oil Corn Gold Winners: Lean hogs, E-mini, Russell Losers: Soybean oil, rough rice, feeder cattle Futures Options Feedback: Listeners have their say Question from Friendship: You mentioned the livestock products are...
Posted October 2nd, 2017

Topics this week include:

  • Crude Oil
  • Corn
  • Gold
  • Winners: Lean hogs, E-mini, Russell
  • Losers: Soybean oil, rough rice, feeder cattle

Futures Options Feedback: Listeners have their say

  • Question from Friendship: You mentioned the livestock products are difficult to trade. What makes them so impenetrable?
  • Comment from Timz: It seems like there is no reason not to collar gold if you're long.
  • Comment from Contempts: I was on the CME Group homepage earlier, and it looks like they're starting to show the love for Bitcoin, too.
  • Question from O'Neil: Can you break down how the Fed Watch tool works?

Options News Rundown: Monday, October 2, 2017

Options news you can use for Monday, October 2, 2017
Posted October 2nd, 2017

Options news you can use for Monday, October 2, 2017


Option Block 656: Live from the Option Pit Pro Trader Summit

Featuring special guests Kevin "Lex" Luthringshausen, and Matt "Tubby" Benson. Trading Block: What is the Pro Trader Summit? VIX is back in the single digits. Memories of trading floor days. Mega Live Mail Block: What's your favorite ETP? Questions...
Posted September 29th, 2017

Featuring special guests Kevin "Lex" Luthringshausen, and Matt "Tubby" Benson.

Trading Block: What is the Pro Trader Summit? VIX is back in the single digits. Memories of trading floor days.

Mega Live Mail Block:

  • What's your favorite ETP?
  • Questions from the audience.
  • Question from Ryan Staddon - Any chance you could give me some information on how to or most effectively short ECB n feds QE programes or bond markets??
  • Question from ISU - Question for the option block: Let's say you're short naked a bunch of puts and the trade goes against you, and you don't have the money to pony up? What can your broker do?
  • Question from Matthew - Where do you source your Unusual Options Activity data from? We use TOS Option Hacker which is OK but you are getting the spreads in the Activities - would love to know how or where you get that level of data Many thanks, Matthew
  • Question from Tim - Why isn't it standard or maybe required to let people close out shorts for free below $.10?

Options News Rundown: Friday, September 29

Options news you can use for Friday, September 29
Posted September 29th, 2017

Options news you can use for Friday, September 29


Options Playbook Radio 177: Short AAPL Call Spread

Today Brian is covering a short call spread (which is bearish) on AAPL. All of this applies on the put side, but in this episode, calls are being featured. Specifically: What dynamics do you need to think about when trading short spreads? Look at the...
Posted September 28th, 2017

Today Brian is covering a short call spread (which is bearish) on AAPL. All of this applies on the put side, but in this episode, calls are being featured.

Specifically:

  • What dynamics do you need to think about when trading short spreads?
  • Look at the most at-the-money straddle to get an idea about pricing
  • Example 1: November 17 expriation; 52 days out
    • Selecting strikes
    • What will this cost?
    • What is the max risk? Reward?
  • Example 2: October 6 expiration; 10 days out
    • Selecting strikes
    • What will this cost?
    • What is the max risk? Reward?
  • Which would you choose?
  • How to close out the trade?
  • How to roll the trade?

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, September 28, 2017

Options news you can use for Thursday, September 28, 2017
Posted September 28th, 2017

Options news you can use for Thursday, September 28, 2017


Options News Rundown: Wednesday, September 27, 2017

Options news you can use for Wednesday, September 27, 2017
Posted September 27th, 2017

Options news you can use for Wednesday, September 27, 2017


Option Block 655: Return of the VIX Whale

Trading Block: VIX is back in the double digits hitting 11.21 today. VIX volume is exploding: Over 2.5M contracts traded so far. Will traders take a knee too? Return of the VIX whale? Odd Block: Put palooza in the iShares MSCI Japan ETF (EWJ), Upside...
Posted September 26th, 2017

Trading Block: VIX is back in the double digits hitting 11.21 today. VIX volume is exploding: Over 2.5M contracts traded so far. Will traders take a knee too? Return of the VIX whale?

Odd Block: Put palooza in the iShares MSCI Japan ETF (EWJ), Upside call vertical in United Parcel Service, Inc. (UPS).

Mail Block: Listener Questions and Comments

  • Comments regarding the possible Equifax insider trading:
  • Comment from Jedi Markus -Sounds easy enough for a jury to understand it then....#GUILTY
  • Comment from Sir Martin - Depends on which breach I guess? The one in March or the one which was discovered in July? Trying to say they definitely knew. If the first one was in March and they sold in August, they knew something was amiss.
  • Comment from Yell0wbuddha - What they did was so illegal...it makes Pablo Escobar look like an amateur $EFX.

Options question of the week: $VIX products come in many flavors. Pick your poison! What's your favorite way to trade $VIX?

  • $VXX
  • $UVXY
  • $XIV
  • $SVXY

More questions from listeners:

  • Question from Salman - Any recommendations on trading platform for mock trading? Options specifically
  • Comment from FContangotrader - Its easier to make $ with $VXX puts when VIX is low
  • Question from Molin - Why don't more options brokers offer trade recommendation engines like idea hub? I think a lot of people would like it and would trade more.

Around the Block: 2500. North Korea. Hurricanes. Presidential tweets.


Options News Rundown: Tuesday, September 26, 2017

Options news you can use for Tuesday, September 26, 2017
Posted September 26th, 2017

Options news you can use for Tuesday, September 26, 2017


Volatility Views 273: Rocket Men Plus Hurricanes Equals 9 VIX?

Volatility Review: A look back at the week from a volatility perspective The numbers: VIX Cash - A low of 9.54 on Thursday VVIX - 92 CBOE Skew Index - 137.87 ?False Peace? for Markets? A Trader Is Betting Millions on It Russell's Weekly Rundown:...
Posted September 25th, 2017

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

The numbers:

Russell's Weekly Rundown:

  • VIX Options - ADV: 813k, VIX call/put: 3.5
  • Total 9.96m
  • OIV - 26.53

Volatility Voicemail: Listeners take over the show

Volatility Views/TWIFO Flash Poll: With $SPX #Volatility -aka $VIX- in single digits where are you getting your index vol fix these days?

  • Russell 2000: $RVX, $IWM
  • Dow: $DJIA, $VXD, etc.
  • NASDAQ: $QQQ, $VXN, etc.
  • Buying $VIX for rebound.

Listener questions and comments

  • Question from Swatcat - Which instruments are there that are very liquid, if you are going long VIX? I have found one so far, ticker: VIXY / Nordic options trader
  • Question from TicTac - You guys said it?s not a good time for VIX front spreads. Why not?
  • Question from LA Town - Your call for worst Vol ETF?

Crystal Ball: Your prognostication headquarters

Last week:

  • Mark L. - 11.5
  • Mark S. - 11.01
  • Russell - 12.25

This week:

  • Mark L. - 9.8
  • Mark S. - 10.5
  • Russell - 11.11

This Week in Futures Options 70: Russell 2000 Rolls On

This week's CME hot seat guest is Sean Smith from FTSE Russell. Topics this week include: Russell Index Crude Oil WTI/Brent Winners: Oats, Feeder Cattle Losers: Silver, Iron Ore Futures Options Feedback: Listeners take over the show Volatility...
Posted September 25th, 2017

This week's CME hot seat guest is Sean Smith from FTSE Russell.

Topics this week include:

  • Russell Index
  • Crude Oil
  • WTI/Brent
  • Winners: Oats, Feeder Cattle
  • Losers: Silver, Iron Ore

Futures Options Feedback: Listeners take over the show

Volatility Views/TWIFO Flash Poll: With $SPX #Volatility -aka $VIX- in single digits where are you getting your index vol fix these days?

  • Russell 2000: $RVX, $IWM
  • Dow: $DJIA, $VXD, etc.
  • NASDAQ: $QQQ, $VXN, etc.
  • Buying $VIX for rebound.

Listener questions:

  • Question from Andrade8 - If RUT and QQQ Vol is always higher than SPY does that mean you're getting paid more to sell OTM puts?
  • Question from BLM3 - Is there a big arb between $USO and WTI?
  • Question from Bruno - No love for rates on TWIFO?
  • Question from Lincoln G - You buying what Dimon is selling about Bitcoin?
  • Question from Tatank - Crypto 20X v. other asset classes. Bitcoin for the win.

Options News Rundown: Monday, September 25, 2017

Options news you can use for Monday, September 25, 2017
Posted September 25th, 2017

Options news you can use for Monday, September 25, 2017


OICs Wide World of Options 40: Panel - What Greeks Can Teach You About Options

WWoO Show 40: Panel- What Greeks Can Teach You About Options This is a rebroadcast of OIC?s webinar panel where you can take a deep dive into options Greeks and join a panel of options professionals, including Joe Burgoyne from The Options...
Posted September 25th, 2017

WWoO Show 40: Panel- What Greeks Can Teach You About Options

This is a rebroadcast of OIC?s webinar panel where you can take a deep dive into options Greeks and join a panel of options professionals, including Joe Burgoyne from The Options Industry Council and Dan Passarelli from Market Taker Mentoring, for an advanced discussion of some mechanics behind an options pricing.


Options Insider Radio Interviews: Celebrating 25 Years of the OIC

Mark is joined by Mary Savoie, Executive Director of the Options Industry Council (OIC) and First Vice President, Industry Services for The Options Clearing Corporation (OCC). They discuss: Mary's background in the options industry The 25th...
Posted September 22nd, 2017

Mark is joined by Mary Savoie, Executive Director of the Options Industry Council (OIC) and First Vice President, Industry Services for The Options Clearing Corporation (OCC).

They discuss:

  • Mary's background in the options industry
  • The 25th anniversary of the Options Industry Council
  • What is the origin of the OIC?
  • The mission of the OIC
  • The newly upgraded website, optionseducation.org
  • How does OIC support advisors?
  • The OIC video series
  • And more...

Advisors Option 59: Using Options as a Passive Investor

Today's co-hosts are Marc Odo, Director of Investment Solutions, Swan Global Investments and Matt Amberson, Principal, Option Research & Technology Services. Tricks of the Trade: How do options fit into the active vs. passive debate? Active vs....
Posted September 22nd, 2017

Today's co-hosts are Marc Odo, Director of Investment Solutions, Swan Global Investments and Matt Amberson, Principal, Option Research & Technology Services.

Tricks of the Trade: How do options fit into the active vs. passive debate? Active vs. Passive? It Doesn?t Matter, by Marc Odo. How do you incorporate options into a "passive" portfolio?

The Buzz: Advisors Sticking With Active Investments: Practical Perspectives. ETF Use Keeps Growing (and Growing). An update on the ongoing DOL fiduciary battle.

Office Hours: In which the listeners take over the show.

Options question of the week: First #Harvey, then #Irma an #Jose and now #Maria. We prep houses/cars/family for #disasters. How do you prep your portfolio?

  • 31% - Get Long $VIX/$VXX/$UVXY
  • 15% - Go To Cash/T-bills
  • 27% - Buy Index/Stock Puts
  • 27% - "Risk Assets" - Gold, etc.

Listener questions and comments:

  • Question from JV Cavalia - Question for Advisors Option on annuities. Hello Mark, Randy, Mike and Eric. I am very much enjoying your program. I am still new to options and I am interested in annuities. But most of them seem to be overly complex and riddled with hidden fees. Many of them also seemed to utilize some form of derivative to achieve their investment goals. The obvious question then is can I achieve the same results myself just using options? Would writing a quarterly call on a broad index achieve the same long-term income results for example? Do you have other suggestions. Thanks again.

Option Block 654: Looking into EFX Insider Trading

Trading Block: VIX is back in the single digits, hitting 9.54 today. AAPL and the iPhone X. The Key Question on Equifax Options Trade Is Who Initiated the Order. Odd Block: A funky fly/stupid in Finish Line Inc. (FINL). Put spread vs. calls in SPDR...
Posted September 22nd, 2017

Trading Block: VIX is back in the single digits, hitting 9.54 today. AAPL and the iPhone X. The Key Question on Equifax Options Trade Is Who Initiated the Order.

Odd Block: A funky fly/stupid in Finish Line Inc. (FINL). Put spread vs. calls in SPDR Euro Stoxx 50 ETF(FEZ). Size collar trade in Amicus Therapeutics, Inc. (FOLD).

Strategy Block: The listeners pick the strategy block: Uncle Mike discusses selling premium with a 9 VIX.

Mail Block: Listeners take control of the show

  • Comment from Salman Azhar - I've been selling out of money debit diagonals during earning, on both upside and downside. Essentially exploiting vega during volatility crush. I lose some money at times but the overall strategy has been great. Have I been lucky or does this make sense?
  • Comment from Jedi Marcus - Did the EFX executive know about the breach, but before they disclosed it to the public?

Around the Block: VIX futures have been consistently correct, VIX cash consistently wrong. What shoe will drop?


Options News Rundown: Friday, September 22, 2017

Options news you can use for Friday, September 22, 2017
Posted September 22nd, 2017

Options news you can use for Friday, September 22, 2017


Options Playbook Radio 176: Long Spreads

In this episode, Brian explores long spreads. Specifically, long call spreads and long put spreads. These can be found on pages 60 and 62, respectively, of The Options Playbook. This is always available on OptionsPlaybook.com, in on the Amazon Kindle...
Posted September 21st, 2017

In this episode, Brian explores long spreads. Specifically, long call spreads and long put spreads. These can be found on pages 60 and 62, respectively, of The Options Playbook. This is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.

Details include:

  • The dynamics of spread trading
  • Using AAPL as an example
  • What to consider regarding forecasting and timing
  • The value of the spread does not provide quick rewards
  • Selecting strikes
  • What is the maximum risk?
  • What is the maximum reward?
  • Always look at how much time premium you have

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, September 21, 2017

Options news that you can use for Thursday, September 21, 2017
Posted September 21st, 2017

Options news that you can use for Thursday, September 21, 2017


Options News Rundown: Wednesday, September 20, 2017

Options news you can use for Wednesday, September 20, 2017
Posted September 20th, 2017

Options news you can use for Wednesday, September 20, 2017


Option Block 653: Was There Insider Trading in EFX?

Trading Block: The S&P held 2500 today. Equifax gives away the keys to the kingdom. One exec even cashed in his options before the public disclosure. EFX options volume up is again today. Odd Block: TSLA Options tracker is back. Size call vertical...
Posted September 19th, 2017

Trading Block: The S&P held 2500 today. Equifax gives away the keys to the kingdom. One exec even cashed in his options before the public disclosure. EFX options volume up is again today.

Odd Block: TSLA Options tracker is back. Size call vertical in Visa Inc. (V). Massive opening call print in T-Mobile US Inc. (TMUS).

Mail Block: Listeners have their say

Options question of the week: First #Harvey, then #Irma, now #Jose & more. We prep houses/cars/family for #disasters. How do you prep your portfolio?

  • Get Long $VIX/$VXX/$UVXY
  • Go To Cash/T-bills
  • Buy Index/Stock Puts
  • "Risk Assets" - Gold, etc.

ANOTHER options question of the week: $EFX exec. cashes out #Options worth $584k a month before disclosing massive breach. $EFX off near 35%. Well-timed, lucky or illegal?

  • He Got Very Lucky
  • He's a genius
  • He acted on inside info
  • Busy Freezing My Account

Listener Questions and comments:

  • Comment from Kathryn Corby: How do you guys know the put buyer is not selling near-the-money puts at the same time? That would be smart.
  • Question from Richard D - Dear Derivative Dignitaries, Its your long time listener "Richard D" again. I couldn't write over the last few weeks because I did not have a new appropriate salutation for you!

I have recently been looking at some Apple calendars. I'll see for example I can get near term Apple calendars near the strike using puts for about 5% less than calls.

For example, recently, with the equity price around $161 a long 162.5 Sept 22 / 29 call calendar would go for about $.62 while the puts about $.59. Aren't these supposed to be the same and since they are not can you arb this, especially if you do not have commission charges.

Thanks and I appreciate the wealth of knowledge AND laughs I get from your show. V/R, Richard

  • Question from SacMan12: What are the odds that SVXY gets back to 70?

Around the Block: Will we hold 2500? Is it a buying opportunity in SLV? Risk reversals in VIX?


Options News Rundown: Tuesday, September 19, 2017

Options news you can use for Tuesday, September 19, 2017
Posted September 19th, 2017

Options news you can use for Tuesday, September 19, 2017


This Week in Futures Options 69: The Latest Gold and Crude Research

This episode features special guest Erik Norland, Executive Director and Senior Economist of CME Group Topics this week include: Gold Crude Oil Winners: Nat Gas, WTI Losers: Lean Hogs, Iron Ore Futures Options Feedback: Listeners weigh in Options...
Posted September 18th, 2017

This episode features special guest Erik Norland, Executive Director and Senior Economist of CME Group

Topics this week include:

  • Gold
  • Crude Oil
  • Winners: Nat Gas, WTI
  • Losers: Lean Hogs, Iron Ore

Futures Options Feedback: Listeners weigh in

Options Question of the Week: First #Harvey, then #Irma, now #Jose & more. We prep houses/cars/family for #disasters. How do you prep your portfolio?

  • Get Long $VIX/$VXX/$UVXY
  • Go To Cash/T-bills
  • Buy Index/Stock Puts
  • "Risk Assets" - Gold, etc.

Listener Questions:

  • Question from Uriah - I think CME should do an updated version of the collar study but on futures options? There are a lot of markets on the CME platform that seem well suited to collar trading.
  • Question from Tomseh - Can we get a quicktrike skew index that we can track and trade?

Volatility Views 272: How Do Europeans Trade Volatility?

Volatility Review: A full overview of CBOE RMC Europe. The numbers: VIX Cash - a high of 11.10 on Monday. VVIX - 92 CBOE Skew Index - 142.74 Russell's Weekly Rundown: VIX Options - ADV: 813k, VIX Call/Put 3.1; Total 13.7m (10.4m Calls, 3.28m Puts)....
Posted September 18th, 2017

Volatility Review: A full overview of CBOE RMC Europe.

The numbers:

  • VIX Cash - a high of 11.10 on Monday.
  • VVIX - 92
  • CBOE Skew Index - 142.74

Russell's Weekly Rundown:

  • VIX Options - ADV: 813k, VIX Call/Put 3.1; Total 13.7m (10.4m Calls, 3.28m Puts).
  • OIV - 26.34

Volatility Voicemail: Listener Questions and Comments

Options question of the week:

First #Harvey, then #Irma, now #Jose & more. We prep houses/cars/family for #disasters. How do you prep your portfolio?

  • Get Long $VIX/$VXX/$UVXY
  • Go To Cash/T-bills
  • Buy Index/Stock Puts
  • "Risk Assets" - Gold, etc.

Listener Questions:

  • Question from Volbug: You mentioned on the show that our twins (XIV & UVXY) could go to zero if there is a big enough spike in vol. Would you and the crew be able to take a guess at what level of vol action would result in such a occurrence? Second question is, wouldn't such a spike send equities out the window also? As always, thanks for the show.
  • Question from PBiggers - Time to go long VIX? Sell some EFX premium? Some skew in there. IV is at a 52 wk high. Liquidity is sketchy.

Crystal Ball: Your prognostication headquarters

Last week:

  • Mark L. - 11.5
  • Mark S. - 11.01
  • Russell - 12.25

This week:

  • Mark L. - 9.8
  • Mark S. - 10.5
  • Russell - 11.11

Options News Rundown: Monday, September 18, 2017

Options news you can use for Monday, September 18, 2017
Posted September 18th, 2017

Options news you can use for Monday, September 18, 2017


Option Block 652: VIX Iron Condors, Rolling Your Puts

Trading Block: Trading VIX iron condors. Crude up 10% over the last couple of weeks. New Apple iPhone rumored to cost $1,000. Odd Block: Calls trade in Union Pacific Corp (UNP). calls trade in True Car Inc (TRUE), and puts trade in Amgen, Inc (AMGN)....
Posted September 15th, 2017

Trading Block: Trading VIX iron condors. Crude up 10% over the last couple of weeks. New Apple iPhone rumored to cost $1,000.

Odd Block: Calls trade in Union Pacific Corp (UNP). calls trade in True Car Inc (TRUE), and puts trade in Amgen, Inc (AMGN).

Strategy Block: Uncle Mike Tosaw discusses rolling protective puts.

Question Block: Options question of the week.

First #Harvey, then #Irma, now #Jose & more. We prep houses/cars/family for #disasters. How do you prep your portfolio?

  • Get Long $VIX/$VXX/$UVXY
  • Go To Cash/T-bills
  • Buy Index/Stock Puts
  • "Risk Assets" - Gold, etc.

Around the Block: Watching Tesla, just because you can't help it. Who is calling the volatility shots?


Options News Rundown: Friday, September 15, 2017

Options news you can use for Friday, September 15, 2017
Posted September 15th, 2017

Options news you can use for Friday, September 15, 2017


Options Playbook Radio 175: When, and Which, Option to Buy?

In this episode, Brian covers: Using a pricing calculator to review different scenarios Buying an out-of-the-money option What happens to delta? Looking at probability When time is your ally When to buy an out-of-the-money option How to get low time...
Posted September 14th, 2017

In this episode, Brian covers:

  • Using a pricing calculator to review different scenarios
  • Buying an out-of-the-money option
  • What happens to delta?
  • Looking at probability
  • When time is your ally
  • When to buy an out-of-the-money option
  • How to get low time premium
  • Closer to expiration = higher delta
  • What about at-the-money options?
  • When to buy, and when not to

Options News Rundown: Thursday, September 14, 2017

Options news you can use for Thursday, September 14, 2017
Posted September 14th, 2017

Options news you can use for Thursday, September 14, 2017


Options News Rundown: Wednesday, September 13, 2017

Options news you can use for Wednesday, September 13, 2017
Posted September 13th, 2017

Options news you can use for Wednesday, September 13, 2017


Option Block 651: Who Is the Best Online Broker?

Trading Block: Irma hits Florida, Jose next? Kiplingers releases its list of top online brokers: 7. Ally 6. Vanguard 5. TD Ameritrade 4. E-Trade 3. Charles Schwab 1. (Tie) Fidelity & Merrill Edge Odd Block: Massive call vertical in PowerShares...
Posted September 12th, 2017

Trading Block: Irma hits Florida, Jose next? Kiplingers releases its list of top online brokers:

7. Ally

6. Vanguard

5. TD Ameritrade

4. E-Trade

3. Charles Schwab

1. (Tie) Fidelity & Merrill Edge

Odd Block: Massive call vertical in PowerShares DB US Dollar Index (UUP), size roll in Guggenheim CurrencyShares Euro Trust (FXE) and calls trade in Array Biopharma Inc. (ARRY).

Mail Block: Options questions of the week:

As Q4 looms, where are you placing your bullish #Volatility bets? Which has most #Upside by end of 2017? $VIX $AMZN #WTI $GVZ

  • Gold Volatility
  • Crude Oil Volatility
  • S&P 500 Volatility - VIX
  • Single Names - $AMZN, etc

First #Harvey, then #Irma, now #Jose & more. We prep houses/cars/family for #disasters. How do you prep your portfolio?

  • Get Long $VIX/$VXX/$UVXY
  • Go To Cash/T-bills
  • Buy Index/Stock Puts
  • "Risk Assets" - Gold, etc.

Listener Questions and Comments:

  • Question from TT - What does it mean when an options trade is listed as SPIM?
  • Question from Mubs - What must I analyze before buying an #option

Around the Block: Irma watch. Will volatility continue to move? The Jose wildcard.


Options Insider Radio Interviews: Exploring the Future of Bitcoin with CBOE

In this episode, Mark is joined by Michael Mollet, Director of Product Development at CBOE and CFE. They discuss: Bitcoin and the potential for listed derivatives What is the proposal? Why now? Partnering with Gemini What exactly is the product they...
Posted September 11th, 2017

In this episode, Mark is joined by Michael Mollet, Director of Product Development at CBOE and CFE.

They discuss:

  • Bitcoin and the potential for listed derivatives
  • What is the proposal?
  • Why now?
  • Partnering with Gemini
  • What exactly is the product they plan to launch?
  • How is settlement determined?
  • What is the timing on releasing this product?
  • Will there be Bitcoin options?
  • What about a Bitcoin VIX?
  • What about other cryptocurrencies?
  • What else is on the CFE horizon?

Options Insider Radio Interviews Exploring the Trader State of Mind with Rande Howell

In this episode, Mark is joined by Rande Howell, Trader Psychologist, who has more than 15 years of practice as a licensed therapist and performance psychology coach. They discuss: What does a trader psychologist do? The thin line between fear/anger...
Posted September 11th, 2017

In this episode, Mark is joined by Rande Howell, Trader Psychologist, who has more than 15 years of practice as a licensed therapist and performance psychology coach.

They discuss:

  • What does a trader psychologist do?
  • The thin line between fear/anger and revenge trading
  • Freedom from emotion versus freedom of emotion
  • What attracted him to performance psychology
  • Figuring out a new set of rules
  • Who is Rande's typical client?
  • What is the number one issue people need to overcome?
  • Redefining winning and losing
  • Controlling what you can control gives traders the edge
  • Knowing when to cut your losses
  • Moving out of mediocrity is about performance
  • How do you start managing emotion?

Volatility Views 271: Hurricanes, Nukes and VIX - Oh My!

Volatility Review: A look back at the week from a volatility perspective Shortened holiday week hit with a never-ending parade of hurricanes Don't forget North Korea Oh, and the President Bonds are screaming August options volume is strangely high....
Posted September 11th, 2017

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

  • Shortened holiday week hit with a never-ending parade of hurricanes
  • Don't forget North Korea
  • Oh, and the President
  • Bonds are screaming
  • August options volume is strangely high. So much for vacationing for the month
  • VIX up into the 12-handle. Will it hit the low teens?
  • VIX Cash: High of 14.06 on Tuesday
  • VVIX: 99
  • CBOE SKEW Index: 135.39 - 5 points higher than last week

Russell's Weekly Rundown:

  • Will people start using weekly options on Monday for the upcoming week's risk?
  • CME Fed tool has next potential rate hike at next August, and only 50-50
  • Why are people buying vol into the weekend?
  • VIX Options on this short week: ADV - 796K; Thurs. - 894K; Weds. - 603K; Tues.- 1.16M; Mon. - Closed.
  • VIX Call/Put: 3.4

Hot VIX Strikes:

  • 635482 .VIX Oct 18th 25.0 C, chg +4681
  • 460502 .VIX Sep 20th 20.0 C, chg -6238
  • 414217 .VIX Oct 18th 12.0 P, chg +13048
  • 376664 .VIX Oct 18th 15.0 C, chg -70943
  • 285530 .VIX Sep 20th 18.0 C, chg +3297
  • 268153 .VIX Sep 20th 21.0 C, chg -14404
  • 265517 .VIX Sep 20th 23.0 C, chg -1246
  • 259376 .VIX Sep 20th 17.0 C, chg -226
  • 251586 .VIX Sep 20th 19.0 C, chg +1678
  • 249889 .VIX Oct 18th 20.0 C, chg -149520
  • Total 12.5m (9.43m Calls, 3.03m Puts)

Volatility Voicemail: Listener Questions and Comments

Options Question of the Week:

As Q4 looms, where are you placing your bullish #Volatility bets? Which has most #Upside by end of 2017? $VIX $AMZN #WTI $GVZ

  • Gold Volatility
  • Crude Oil Volatility
  • S&P 500 Volatility - VIX
  • Single Names - $AMZN, etc

Listener Questions:

  • Question from Elbu: Seems like everyone is jumping on the short $VIX bandwagon these days. Since when does the NYT cover volatility trading? RE: this article - Day Trading in Wall Street?s Complex ?Fear Gauge? Proliferates
  • Question from Elly: What?s the ideal month/strike combo when buying puts on VXX? 6 months / 25% OTM?

Crystal Ball: Wild and reckless prognostication

Where do the hosts think the VIX will close next week?

Last Week

  • Mark L.: 10.15
  • Mark S.: 10.65
  • Russell: 11.11

This Week

  • Mark L.: 11.5
  • Mark S.: 11.01
  • Russell: 12.25

This Week in Futures Options 68: Gold and Silver Collar Extravaganza

Topics This Week Include: A reprise of Uncle Mike's silver collar What's happening to gold as a result of global unrest? Uncle Mike channels Scrooge McDuck Hurricanes not yet pummeling crude prices Futures Options Feedback: Listener questions and...
Posted September 11th, 2017

Topics This Week Include:

  • A reprise of Uncle Mike's silver collar
  • What's happening to gold as a result of global unrest?
  • Uncle Mike channels Scrooge McDuck
  • Hurricanes not yet pummeling crude prices

Futures Options Feedback: Listener questions and comments

  • Question from LLCC: Why do you think gold performed so well in the collar study?
  • Question from Nelent: How did silver do in that OCC study? Same as gold?

Option Block 650: Talking Hurricanes, Missiles and Bankruptcy Puts with Fidelity

Joining the all-star panel is guest co-host Greg Stevens, VP of Product Development of Options at Fidelity Investments. Trading Block: Hurricane Irma puts Florida in it's crosshairs. The numbers are in: August was surprisingly strong. Earnings season...
Posted September 8th, 2017

Joining the all-star panel is guest co-host Greg Stevens, VP of Product Development of Options at Fidelity Investments.

Trading Block: Hurricane Irma puts Florida in it's crosshairs. The numbers are in: August was surprisingly strong. Earnings season is in the rearview mirror now.

Odd Block: TSLA options tracker. Upside call love in Himax Technologies, Inc. (HIMX), massive put block in iShares MSCI Japan ETF (EWJ), and call frenzy from 8/17 in Utilities SPDR (XLU).

Mail Block: Options question of the week

As Q4 looms, where are you placing your bullish #Volatility bets? Which has most #Upside by end of 2017? $VIX $AMZN #WTI $GVZ

  • Gold Volatility
  • Crude Oil Volatility
  • S&P 500 Volatility - VIX
  • Single Names - $AMZN, etc.

Listener Questions and comments: What's on your mind?

  • Question from Ejh4isu - Question for the option block: What happens to puts I'm holding if the company files bankruptcy or becomes insolvent? Am I just out of luck?
  • Comment from Notyourcountry - What's the probability that Netflix $NFLX won't file for Chapter 11?
  • Question from CLT - Heard a rumor that minis were making a comeback. Any truth to it?

Around the Block: Hurricane cannon pointed at the southeast. NFL season kicks off tonight. Tension between China and North Korea. Literal weekend risk.


Options News Rundown: Friday, September 8, 2017

Options news you can use for Friday, September 8, 2017
Posted September 8th, 2017

Options news you can use for Friday, September 8, 2017


Options Playbook Radio 174: Back to Basics with Probability

Last week, we started the back to the basics with the Greeks. You can find an entire chapter on Greeks in The Options Playbook. This is always available on OptionsPlaybook.com, in on the Amazon Kindle edition. In this episode, Brian discusses: ...
Posted September 7th, 2017

Last week, we started the back to the basics with the Greeks. You can find an entire chapter on Greeks in The Options Playbook. This is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.

In this episode, Brian discusses:

  • Looking at probability using a 90-day option as an example
  • What is the probability of an $8 move in a $60 stock in 90 days?
  • Where do you think the option will be trading at in 90 days?

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, September 7, 2017

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

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


Options News Rundown: Wednesday, September 6, 2017

Options news you can use for Wednesday, September 6, 2017
Posted September 6th, 2017

Options news you can use for Wednesday, September 6, 2017


This Week in Futures Options 67: Hurricane Harvey Surprises Options Traders

Topics this week include: Crude Gold Winners - R-Bob, Heating Oil Losers - Oats, Milk Futures Options Feedback: Question from JLC - Where can I get the collar study referenced on the show? Question from Mark T. - So which assets perform the best...
Posted September 5th, 2017

Topics this week include:

  • Crude
  • Gold
  • Winners - R-Bob, Heating Oil
  • Losers - Oats, Milk

Futures Options Feedback:

  • Question from JLC - Where can I get the collar study referenced on the show?
  • Question from Mark T. - So which assets perform the best from a collar perspective?
  • Question from Toms - New OIC study coming soon?
  • Question from J. Marello - I heard that time decay doesn?t impact straddles the same way in futures options that it does in stocks. Is that true and are straddles better to buy in futures options for this reason?

Volatility Views 270: Return of VIX Ratios Plus VXX Questions

Volatility Review: A look back at the week from a volatility perspective. The numbers: VIX Cash - 10.59, VVIX - 94.86 CBOE Skew Index - 130.5 Russell's Weekly Rundown: VIX Options: ADV - 785k, VIX Call/Put - 3.3 Total 12.0m (9.24m Calls, 2.76m...
Posted September 5th, 2017

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

The numbers:

  • VIX Cash - 10.59, VVIX - 94.86
  • CBOE Skew Index - 130.5

Russell's Weekly Rundown:

  • VIX Options: ADV - 785k, VIX Call/Put - 3.3
  • Total 12.0m (9.24m Calls, 2.76m Puts)
  • OIV - 28.29
  • OVX - 28.37

Volatility Voicemail: Options Question of the week:

Let's get cheap! If you had to buy "lottery ticket" December calls for $.05 in one name - which would you choose? #HomeRun

  • AMZN
  • AAPL
  • Tesla
  • VIX

Listener Questions and Comments:

  • Question from JC - What am i missing? If VXX erodes why does anyone buy it?
  • Question from Simyan - So I should just short VXX into the dust? Is that the deal?
  • Question from Nils - So if the max length between splits is 3 years, and the minimum split price is $10 - aren?t the Jan 2019 20 puts for $2 a screaming deal?
  • Question from TimTim - Do any other Vol products exhibit this erosion?

Crystal Ball: Wild prognostication

Last week:

  • Mark L. - 11.75
  • Mark S. - 11.00
  • Russell - 10.80

This week:

  • Mark L. - 10.15
  • Mark S. - 10.65
  • Russell - 11.00

Options News Rundown: Tuesday, September 5, 2017

Options news you can use for Tuesday, September 5, 2017
Posted September 5th, 2017

Options news you can use for Tuesday, September 5, 2017


Option Block 649: Getting Naked in LULU

Trading Block: A thin day in the market. Lululemon (LULU) after the bell: ATM straddle - $6.75, approx. 12%. Will invisible yoga pants strike again? Odd Block: A review of past paper: Paper buying strangles in Tesla Motors (TSLA) on Aug 3rd. Call...
Posted September 1st, 2017

Trading Block: A thin day in the market. Lululemon (LULU) after the bell: ATM straddle - $6.75, approx. 12%. Will invisible yoga pants strike again?

Odd Block: A review of past paper:

  • Paper buying strangles in Tesla Motors (TSLA) on Aug 3rd.
  • Call love in Extended Stay America (STAY) on Aug 7th.

Strategy Block: Uncle Mike Tosaw discusses call spread trades

Mail Block/Options Question of the Week:

Let's get cheap! If you had to buy "lottery ticket" December calls for $.05 in one name - which would you choose? #HomeRun

  • AMZN
  • AAPL
  • Tesla
  • VIX

Listener Questions: What is on your mind?

  • Question from Bobster - Can you trade options outside of US trading hours?
  • Question from Nanfran - What do you think would be a good option to buy right now heading into the end of summer?

Around the Block: One last look at Lululemon (LULU)


Options News Rundown: Friday, September 1, 2017

Options news you can use for Friday, September 1, 2017
Posted September 1st, 2017

Options news you can use for Friday, September 1, 2017


Options Playbook Radio 173: Understanding the Greeks, Part One

Now that earnings season is over it's time to get back to basics: the Greeks. You can find an entire chapter on Greeks in The Options Playbook. This is always available on OptionsPlaybook.com, in on the Amazon Kindle edition. In this episode: A...
Posted August 31st, 2017

Now that earnings season is over it's time to get back to basics: the Greeks. You can find an entire chapter on Greeks in The Options Playbook. This is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.

In this episode:

  • A review of last time
  • Using the Greeks
  • What does a delta do?
  • Meet the Greeks in The Options Playbook
  • As expiration approaches, what happens to delta? For that, you need gamma
  • What about theta?
  • Delta when a contract is in-, at- or out-of-the-mooney
  • Delta moves slower than other Greeks
  • You can't have slow time decay on a fast moving option

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 31, 2017

Options news you can use for Thursday, August 31, 2017
Posted August 31st, 2017

Options news you can use for Thursday, August 31, 2017


Advisors Option 58: Bringing Women Into The Options Fold

Co-Hosts: Chris Hausman, Portfolio & Chief Technical Strategist, Swan Global Investments. Aash Vyas, Director of Portfolio Strategy and Overlays, Swan Global Investments. Matt Amberson, Principal, Option Research & Technology Services....
Posted August 30th, 2017

Co-Hosts:

  • Chris Hausman, Portfolio & Chief Technical Strategist, Swan Global Investments.
  • Aash Vyas, Director of Portfolio Strategy and Overlays, Swan Global Investments.
  • Matt Amberson, Principal, Option Research & Technology Services.
  • Carolyn Leonard, Former CBOE Member, Co-Founder - DyMynd

The Buzz: Bringing women and advisors into the options fold - a look at IMCA, Boston Options Exchange & Dymnd's upcoming "All Women Want Options" webinar.

Office Hours/Advisors Option Flash Poll.

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

  • 13% - Write covered calls
  • 35% - Buy protective puts
  • 22% - Do Both - Use Collars
  • 30% - They Won't Touch Options

Listener Questions and Comments:

  • Question from Tancray - Do you think the trend toward passive investing will help or hurt options focused advisors?
  • Question from Nick Sassela - I've read a lot about robo advisors encroaching on the domain of the traditional financial advisor. I would think complicated assets like options wouldn't be well-suited to algorithms and machines. Is it fair to say that options then are the silver bullet to the rise of the robo advisors?

Options News Rundown: August 30, 2017

Options news you can use for Wednesday, August 30, 2017.
Posted August 30th, 2017

Options news you can use for Wednesday, August 30, 2017.


Options News Rundown: August 29, 2017

Options news you can use for Tuesday, August 29, 2017.
Posted August 29th, 2017

Options news you can use for Tuesday, August 29, 2017.


Option Block 648: Everyone Loves Cheap Lottery Tickets

Trading Block: A quiet day in the market. Odd Block: Ratio put spread in Expedia Inc. (EXPE), ratio risk reversal in Dollar General Corp. (DG), and put-palooza in Pure Storage Inc. (PSTG). Mail Block: Options Question of the Week Look at...
Posted August 29th, 2017

Trading Block: A quiet day in the market.

Odd Block: Ratio put spread in Expedia Inc. (EXPE), ratio risk reversal in Dollar General Corp. (DG), and put-palooza in Pure Storage Inc. (PSTG).

Mail Block: Options Question of the Week

Look at #MayweatherMcGregor as #Options traders. @TheNotoriousMMA calls cost $1, pay $3. #Floyd calls cost $4, pay $1. Your trade?

  • 30% - Buy #Connor Calls?
  • 32% - Buy #Floyd Calls?
  • 16% - I'd rather sell premium
  • 22 - Whoever Wins We Love

Listener questions:

  • Question from Allan8 - Did Mark cash any calls on Floyd?
  • Question from LAXX - Is it me or do the Vegas odds makers do a very similar job to options market makers?

Another Options Question of the Week:

Let's get cheap! If you had to buy "lottery ticket" December calls for $.05 in one name - which would you choose? #HomeRun

  • AMZN
  • AAPL
  • Tesla
  • VIX

MORE listener questions:

  • Comment from The_Quantum_Revloution - Which options are trading at $0.05 though that's the question?
  • Comment from Randy Wright - AAPL, and I just might join you.
  • Question from NTT - Can you clarify the question from last show. Was that SPX put-call spread guy asking about selling OTM calls vs. OTM puts or same strike?
  • Comment from Dennis Lyrintzis - Wow over 15,000 Jan 55 calls bought for AAL. Thanks for the Alert.
  • Question from ReallyG? - Love your #podcasts! Question: market profile displays limit orders. Is there a service that displays stop orders? Just wondering
  • Question from KBX32: What is the cheapest way to hedge my portfolio w options?

Around the Block: Upcoming Earnings LULU (8/31)


Volatility Views 269: One More VXX Reverse Split

Volatility Review: A look back at the week from a volatility perspective. The numbers: VIX Cash - 12.33, a high of 14.45 on Monday. VVIX - 100 CBOE Skew Index - 130 Russell's Weekly Rundown VIX Options: ADV - 764k, VIX Call/Put - 3.4, Total 11.5m...
Posted August 28th, 2017

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

The numbers:

  • VIX Cash - 12.33, a high of 14.45 on Monday.
  • VVIX - 100
  • CBOE Skew Index - 130

Russell's Weekly Rundown

  • VIX Options: ADV - 764k, VIX Call/Put - 3.4, Total 11.5m (8.88m Calls, 2.66m Puts)
  • VXX reverse split trade

Volatility Voicemail: Listener questions and comments

Comment from JLC - That $VIX 60 guy is just nuts. He's just trying to make a name for himself with that prediction. $SPX wld need to drop over 10% to be right.

Question from FContangotrader - What is your thought on $VIXH? Maybe every episode you can give an intro into various Vol ETN and ETF. Thanks and keep with good work

Comment from FContangotrader - Mark Sebastian, so how do you hedge your gamma and your mother in law?

Crystal Ball: Wild and reckless prognostication

Last week

  • Mark L. - 13.55
  • Mark S. - 12
  • Kevin - 18.25
  • Guest - 14.30

This week

  • Mark L. - 11.75
  • Mark S. - 11.00
  • Russell - 10.80


This Week in Futures Options 66: Hurricane for Crude

Topics this week include: S&P and other indexes Silver and Gold Crude Oil Winners: Copper, Soybean oil Losers: Lean hogs, corn Futures Options Feedback: Listener questions and comments Question from Sho Odwa - Hi! Which website publishes...
Posted August 28th, 2017

Topics this week include:

  • S&P and other indexes
  • Silver and Gold
  • Crude Oil
  • Winners: Copper, Soybean oil
  • Losers: Lean hogs, corn

Futures Options Feedback: Listener questions and comments

  • Question from Sho Odwa - Hi! Which website publishes real-time commodity options quotes
  • Comment from Allan - I would have thought KC Wheat would be the winner?
  • Question from NN0M - Why did Tosaw put on a two year collar in silver? Why that time frame?
  • Question from ReallyG - Love your #podcasts! Question: market profile displays limit orders. Is there a service that displays stop orders? Just wondering
  • Question from TheBiggers: Calls are typically more bid in futures options than equity options. So does it stand that collars are more effective in futures options?


Options News Rundown: August 28, 2017

Options news you can use for Monday, August 28, 2017.
Posted August 28th, 2017

Options news you can use for Monday, August 28, 2017.


OICs Wide World of Options 39 - Selecting Option Strike Prices and Months

WWoO Show 39: Selecting Option Strike Prices and Months Joe Burgoyne speaks with Dan Passarelli from Market Taker Mentoring on what investors should consider when choosing strike prices and month. Then, on Profiles and Perspectives, Carolyn Leonard of...
Posted August 28th, 2017

WWoO Show 39: Selecting Option Strike Prices and Months

Joe Burgoyne speaks with Dan Passarelli from Market Taker Mentoring on what investors should consider when choosing strike prices and month. Then, on Profiles and Perspectives, Carolyn Leonard of DyMynd shares her experiences as a woman in the financial industry and what resources are available to women who are seeking financial empowerment.


Option Block 647: Weird Rolls, Covered Call How-To and More

Trading Block: Amazon announces price cuts at Whole Foods, Hurricane Harvey bears down on oil central. Earnings are still happening! GameStop (GME) after the bell - ATM straddle $2, approx. 9%. Odd Block: Rolling calls in Genworth Financial Inc....
Posted August 25th, 2017

Trading Block: Amazon announces price cuts at Whole Foods, Hurricane Harvey bears down on oil central. Earnings are still happening! GameStop (GME) after the bell - ATM straddle $2, approx. 9%.

Odd Block: Rolling calls in Genworth Financial Inc. (GNW), rolling calls in SPDR S&P Metals and Mining (XME) and weird rolls in L Brand Inc. (LB).

Strategy Block: Uncle Mike Tosaw discusses strike price selection for a covered call.

Mail Block: Options Question of the Week

Look at #MayweatherMcGregor as #Options traders. @TheNotoriousMMA calls cost $1, pay $3. #Floyd calls cost $4, pay $1. Your trade?

  • Buy #Connor Calls?
  • Buy #Floyd Calls?
  • I'd rather sell premium
  • Whoever Wins We Lose

Listener questions: What's on your mind?

Question from Salman Azhar: To sell wkly $SPX opts against a long $SPX quarterly opt. Are call or put diagonals better for bears. Math is same but practice?

Around the Block: ULTA pared off the earlier selloff. GME off almost 8%. What's happening in Jackson Hole? AMZN + WFM closes on Monday. GoFundMe to buy Twitter.


Options News Rundown: Friday, August 25, 2017

Options news you can use for Friday, August 25, 2017
Posted August 25th, 2017

Options news you can use for Friday, August 25, 2017


Options Playbook Radio 172: MRVL Long Call Spread

With MRVL still to announce earnings, it might be interesting to look at a long call spread in the name. You can find this on page 60 of The Options Playbook. This is always available on OptionsPlaybook.com, in on the Amazon Kindle edition. In this...
Posted August 24th, 2017

With MRVL still to announce earnings, it might be interesting to look at a long call spread in the name. You can find this on page 60 of The Options Playbook. This is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.

In this episode:

  • A review of last time
  • MRVL announces earnings on 8/24 after the close
  • What is the outlook for MRVL
  • Selecting the expiration
  • What is the most at-the-money strike?
  • Buying as much time premium as selling
  • What is maximum risk? Reward?
  • Selecting a different expriation
  • What is maximum risk? Reward?
  • Why does one trade cost more than the other?
  • Time premium caveats

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: August 24, 2017

Options news you can use for Thursday, August 24, 2017
Posted August 24th, 2017

Options news you can use for Thursday, August 24, 2017


Options News Rundown: Wednesday, August 23, 2017

Options news you can use for Wednesday, August 23, 2017
Posted August 23rd, 2017

Options news you can use for Wednesday, August 23, 2017


Option Block 646: Question Palooza

Trading Block: The eclipse hits the U.S. market. Steve Bannon gone from the White House. Elon Musk urges the UN against the use of AI in warfare. Odd Block: 105 More $TSLA Jan 2019 50 "Catastrophe" puts hit the tape today. Put spreads trade in...
Posted August 22nd, 2017

Trading Block: The eclipse hits the U.S. market. Steve Bannon gone from the White House. Elon Musk urges the UN against the use of AI in warfare.

Odd Block: 105 More $TSLA Jan 2019 50 "Catastrophe" puts hit the tape today. Put spreads trade in Starbucks Corporation (SBUX). Size put spreads in Utilities SPDR ETF (XLU).

Mail Block: Poll review

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

  • 18% - CSCO
  • 57% - BABA
  • 18% - HD
  • 7% - WMT

FlashPoll: Which major index has experienced the largest % change in 30-day ATM #Volatility year-to-date?

  • 15% - S&P 500
  • 38% - Nasdaq 100
  • 8% - Dow
  • 39% - Russell 2000

Listener Questions: What is on the minds of our listeners?

  • Question from For Profits: What do you mean by TSLA catastrphe puts?
  • Question from Privateer - Hi guys, love the show. I have recently been learning about an exciting strategy called writing call options with CFDs. The claim by the teacher is that CFDs can leverage the return on premium selling by ten times, and reduce your break even significantly. I am very invested in how this could apply in selling both legs i.e covered strangles or straddles. Can you discuss the downsides, upsides and hedging strategies used in this scenario, and how to mitigate risk especially on the put leg? Sirs yes sir!
  • Question from LJC6V - Is gold looking good for a collar here? Maybe 2-3 months out?
  • Question from Tanzier - Who is left in broker world that has not been bought up? Any recs?
  • Question from Vic - What is Tosaw up to in AAPL now?
  • Question from Farimax - What options strategies do you use the most?

Around the Block: What is lurking in the misty ether of the future?


Volatility Views 268: Can VIX Hit 60 by Halloween?

Volatility Review: Featuring guest co-hosts Kevin Davitt from the CBOE Options Institute and Matt Amberson from ORATS. The market fear gauge could quintuple by Halloween, strategist warns The numbers: VIX Cash - a high of 15.77 this week, VVIX -...
Posted August 21st, 2017

Volatility Review: Featuring guest co-hosts Kevin Davitt from the CBOE Options Institute and Matt Amberson from ORATS.

The market fear gauge could quintuple by Halloween, strategist warns

The numbers:

  • VIX Cash - a high of 15.77 this week, VVIX - 117.77
  • CBOE Skew Index - 142.73

Russell's (Kevin's) Weekly Rundown:

  • VIX Options - ADV: 706k, VIX Call/Put: 3.6
  • Total 10.6m (8.26m Calls, 2.37m Puts)
  • OIV - 27.77, OVX - 28.94

Volatility Voicemail/TWIFO Flash Poll:

Which major index has experienced the largest % change in 30-day ATM #Volatility year-to-date?

  • S&P 500
  • Nasdaq 100
  • Dow
  • Russell 2000

Listener Questions and Comments:

  • Question from Tosaw's client: I have an options question regarding VIX and I cannot seem to find the answer. Is there a way to determine the incremental change in an a SPY option price as the VIX moves? For example, if VIX moves 10% does that mean that the extrinsic value of the SPY option should be 10% more expensive? I checked the 30 day SPY option thinking that the IV of the option would map to VIX in some way, but clearly that is not the case (I could be looking in the wrong spot). I have seen qualitative examples of this, but not quantitative. Is there a formula? (Modified Black-Scholes?) Not sure if you are okay with me sending you questions, I can send this to the Option Block or Volatility Views if that is more appropriate. I would imagine you have many clients to deal with. Thanks
  • Question from Richard D: I was wondering if Mark S or Andrew ever tried VXX/UVXY pair type trades, intra-day or longer? Meaning capturing fluctuations in the prices of VXX and UVXY via options by taking some put type spread in one and a call spread in the other when the ratio of the prices look out of whack? Or is this a trade the big financial firms already do thus there is no edge there?

Crystal Ball: Where do the hosts think VIX will close on Friday?

Last week:

  • Mark - 12.55
  • Andrew - 12.01
  • Russell - 13.5
  • Guest - 10.5

This week:

  • Mark L. - 14.55
  • Mark S. - 12.00
  • Kevin - 18.25
  • Matt - 14.30

This Week in Futures Options 65: Rocking Indexes, Plus Winners of 2017

Topics this week include: S&P/E-minis Crude Gold Winner: Palladium Loser: Kansas City Wheat Futures Options Feedback: Question of the week Which major index has experienced the largest % change in 30-day ATM #Volatility year-to-date? S&P...
Posted August 21st, 2017

Topics this week include:

  • S&P/E-minis
  • Crude
  • Gold
  • Winner: Palladium
  • Loser: Kansas City Wheat

Futures Options Feedback: Question of the week

Which major index has experienced the largest % change in 30-day ATM #Volatility year-to-date?

  • S&P 500
  • Nasdaq 100
  • Dow
  • Russell 2000

Listener questions and comments:

  • Question from Chuck M - I like the TWIFO show esp. Winners losers. Q - What about winners losers for the year?
  • Question from Tomzek - How do I get winner loser scan on cmegroup.com/twifo?
  • Comment from HPpetition - Is buying $S&P OTM puts "free money" like #DoubleLine says - no but selling OTM $S&P puts is.
  • Question from Nils - I am confused about option contract specs in WTI. If I sell 1 put in WTI how many barrels of oil am I risking getting long?

Options News Rundown: Monday, August 21, 2017

Options news you can use for Monday, August 21, 2017
Posted August 21st, 2017

Options news you can use for Monday, August 21, 2017


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-host Bill 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 -...
Posted August 14th, 2017

Today we feature guest co-host Bill 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?

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Get into peak options trading shape.

Options Insider Special EventsAudio

Compelling panel & special event recordings from the options world.

OIC's Wide World of OptionsAudio

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

Trading Tech TalkAudio

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

Options Playbook RadioAudio

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

Options OdditiesAudio

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

This Week in Futures OptionsAudio

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

The Business ShowAudio

If you like business, if you like humor, if you like stock symbols, this is the podcast for you.
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The Options Insider Radio Network

The Options News Rundown

Your source for the most important news and information from the world of options.

The Options News Rundown

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