Option Block 128: Funky Backspread

Trading Block: A decent selloff in VIX cash, but is the unknown still lurking? Greece stumbling toward salvation, but the worst is not over yet. Apple over 500 — up 2%. What's been causing this move to the upside? A few earnings after the bell: LPSN, SGEN.

Odd Block: Unusual activity in NetApp, Inc. (NTAP), Live Nation Entertainment, Inc. (LYV), and Seattle Genetics, Inc. (SGEN).

Xpress Block: Tim Navabi helps to explain "Estimated Commisions" when closing out short positions.

Around the Block: Upcoming earnings: Zenga - 2/14 (The love following Facebook's IPO continues), GM 2/16, Marriott -2/15, NVDA - 2/15 and TESLA - 2/15. What's the best way to incorporate weeklies into ones’ current model?