Volatility Views: Recent Episodes

The Options Insider Radio Network

Volatility Views is the premier radio program for volatility traders. With leading industry guests and detailed analysis of volatility products, this program takes you inside the world of volatility trading like never before. If you are an experienced options trader looking to expand your understanding of volatility, or if you are simply curious about VIX and other volatility products, then this is the program for you.

The VIX put mystery may finally be solved!

On this episode of Volatility Views with Russell Rhoads and Mark Sebastian, we dig into the unusual deep-in-the-money VIX put spreads that have been puzzling us and uncover the margin dynamics that could help explain why traders keep putting them on.

We also break down a wild week in volatility, including the plunge in VIX, the latest VIX futures term structure, notable VIX options flow, and the continuing fallout from reverse splits in the volatility ETP space.

Plus, the SPCX madness continues. We examine the massive activity in far out-of-the-money SPCX calls, discuss the inverse ETF apparently behind the trades, and explore whether there could be a method to this options madness.

All that plus single-stock futures, unusual Rocket Lab options activity, our latest volatility predictions, and much more.

The Volatility Nomad returns!

On this episode of Volatility Views, Mark Longo and Dr. Russell Rhoads welcome back Michael Listman, aka UVXY Trader, who joins the show from the UK after months of trading his way across Europe.

The crew breaks down another wild week for the volatility markets, including the brief VIX spike above 20, the post-Fed volatility collapse, a surprisingly subdued VIX futures curve, and whether the market is becoming a little too comfortable heading into the fall.

Michael also takes us inside life as a traveling volatility trader and explains how being a "volatility nomad" has changed his approach to risk and position management. We dig into his current strategies involving UVXY, SVIX and VXX, seasonality in volatility ETPs, longer-dated positions, pair trades, short straddles and more.

Plus, we examine the latest unusual VIX options activity, including some truly extreme upside strikes, revisit Russell's Microsoft earnings trade, and peer into the Crystal Ball for where VIX could be headed next.

Volatility finally showed signs of life this week—but as traders have come to expect, the spike didn't last.

On this episode of Volatility Views, Mark Longo is joined by Dr. Russell Rhoads to dissect another unusual week in the volatility markets. The hosts examine why VIX briefly pushed toward 20 before quickly retreating, despite geopolitical tensions, AI spending concerns, and a sharp selloff in technology stocks.

They also break down the latest VIX futures term structure, analyze the week's most intriguing VIX options trades, discuss whether markets are underpricing geopolitical risk, and explain why Microsoft's upcoming earnings could be one of the biggest volatility events of the summer.

In this episode: * Why VIX couldn't sustain its move toward 20 * AI spending concerns from Google and Tesla shake the market * What the VIX futures curve is signaling * Dr. Russell Rhoads' Weekly Rundown of unusual VIX options trades * Is the market ignoring geopolitical risk? * Why Microsoft earnings could be the next major volatility catalyst * Crystal Ball predictions for next week's VIX

In this episode of Volatility Views, host Mark Longo is joined by "Muscle" Rhoads (Dr. Russell Rhoads), Mark Sebastian from Option Pit, and the long-awaited return of the Thompson Twins (Matt and Mike Thompson of Thompson Capital). Together, the crew unpacks a wild week of violent market rotations, earnings season anxieties, and the localized panic ripping through semiconductor and AI stocks.

The team takes a deep dive into the vol surface to analyze why the equal-weighted VIX EQ is surging past 50 while index-level vol remains relatively contained. Are we looking at a localized tech overreaction, or the brink of a massive correlation-one sell-off? Plus, they break down a bizarre, head-scratching 100-strike VIX put trade, structural "mullet" vs. "tulum" strategies, and the latest reverse splits shaking up the vol ETP space (SVIX, UVXY, and UVIX).

What's inside this episode:

The Volatility Review: Deconstructing the Taiwan Semi fallout, Nvidia's wild swings, and how money is rotating between tech hyperscalers and broader indices.
The New VIX Order: Why geopolitical and event-driven vol spikes are mean-reverting faster than ever in the modern market ecosystem.
Term Structure & Haircuts: Moving long and short on the curve—the team explains why they are leaning into the traditional "mullet" style.
VIX Options Flow: Breaking down the massive volume behind the August 26 calls, the shift toward the 17 puts, and another round of mocking high-risk, low-reward institutional trades.
ETP & Levered Vol Update: Dealing with the liquidity drain post-reverse splits in UVXY and UVIX, and why tracking seasonality matters right now.
The Crystal Ball: The guys put their reputations on the line with their weekly VIX and Volley predictions for next week.

In this episode, Mark Longo, Russell Rhoads (Dr. VIX), and Scott Nations dive deep into a massive divergence brewing under the surface of the equity indexes. While S&P 500 volatility is sitting quietly at seasonal lows, Nasdaq 100 volatility tells a completely different story as tech and AI anticipation ramps up ahead of Microsoft's pivotal earnings report.

Key Topics Covered:

The Volatility Review: Breaking down a massive two-week crush that dragged VIX cash down nearly 4 points, alongside drops in VOLY and the VVIX.
The Nasdaq vs. S&P Divergence: Scott explains how VolDex measures show completely different volatility regimes for tech vs. broad market index options.
The Tech "Canary": Why Russell has Microsoft's upcoming July 29th year-end earnings report circled as the ultimate reality check for the AI boom.
VIX Futures & The Return of Volume: June options volume just put up a historic 1.6 billion contracts. Why are traders suddenly piling back into VIX futures?
The "Dark Web" of Vol Trades: Analyzing a bizarre, deep-in-the-money August put spread and a massive November VIX call strip paired with a 1x6 put ratio spread.
Crystal Ball: Predictions for where VIX and VOLI land by next week.

The vol market might be caught in a midsummer lull between truncated holiday weeks, but underneath the surface, there is plenty of drama to slice and dice. In this episode, host Mark Longo welcomes back "Dr. Vix" Russell Rhoads (Indiana University) and Bill Luby (Luby Assessment Management) to dissect a market that seems to be trapped in an anticipatory holding pattern.

The guys dive deep into:

The Volatility Review: A look at a celebratory but hair-trigger market as VIX cash flirts with the 19 handle.
The Geopolitical Risk Horizon: Why the market chose to look right past recent Middle East turmoil and what a sub-$70 crude environment means for tech and macro hedging.
The AI CapEx Arms Race: Tech earnings showdowns, Micron's blockbuster numbers, and why Microsoft's upcoming year-end earnings report could be the ultimate summer volatility catalyst. "Someone has to flinch" on tech spending—who will it be?
Deep-in-the-Money VIX Puts: Analyzing the massive rise in ultra-deep VIX put spreads. Is it a smart margin play, or just a fun deployment of "entertainment capital"?
Russell's Weekly Rundown: Breaking down the wild weekly options flows, short call spread ouchies, and drawing lines in the sand at the 17 and 19 strikes.
Crystal Ball: The crew looks ahead past the America 250 holiday to make their two-week volatility predictions.

A truly wild week in the markets culminated in the historic SpaceX IPO, sending shockwaves through the trading landscape. In this episode, host Mark Longo is joined by special guest Henry Schwartz (The Flow Master, Cboe) and Mark Sebastian (OptionPit) to break down a massive week of intraday swings and shifting volatility structures.

The panel dives deep into the market mechanics behind the $75B SpaceX debut, exploring its staggering $2.2 trillion valuation, retail distribution frenzy, and what to expect when SpaceX options officially launch next Tuesday. Will implied volatility open 20–25% too rich? Could risk reversals yield massive credits for long holders?

Plus, they analyze the macro picture: a potential Middle East peace deal, plummeting oil prices, shifting bond allocations, and why VIX cash flirted with a 22 handle before settling back down. The episode wraps up with a breakdown of VIX options flow (including heavy action on the June 18 puts) and a highly contested two-week Crystal Ball prediction that sees the panel split by over six points.

After months of warning that volatility was being ignored, Dr. VIX finally gets a little revenge.

With the Nasdaq suffering its worst selloff of the year, VIX surging back toward the 20 handle, and volatility returning to the market, Mark Longo and Russell Rhoads break down what sparked the move and whether this is just another dip-buying opportunity or the beginning of a larger shift in sentiment.

The hosts explore the impact of stronger-than-expected jobs data, shifting interest rate expectations, rising concerns about massive AI infrastructure spending, and why companies may soon have less cash available for stock buybacks. They also examine what these developments could mean for equity valuations and volatility traders heading into the summer months.

In this episode:

VIX surges toward the 20 level
Nasdaq suffers its worst decline of the year
Is the AI spending boom becoming a problem?
Why buybacks may be slowing down
VIX futures and volatility term structure analysis
Unusual activity in VIX options
UVIX, UVXY and VXX trading activity
Russell's Weekly Rundown
Crystal Ball predictions for next week

Is this finally the comeback Dr. VIX has been waiting for, or will the bulls once again ride to the rescue?

Volatility continued its retreat this week as equities marched higher and the VIX flirted with the 15 handle. On this episode, Mark Longo, Russell Rhoads, and Mark Sebastian break down the latest volatility landscape, including unusual VIX weekly trades, the ongoing debate around SVIX options liquidity, heavy put buying in semiconductor ETFs, Robinhood's AI-fueled rally, and what changing day-trading rules could mean for options volume. The crew also examines VIX term structure, volatility ETP opportunities, and whether a billion-contract options week is closer than many traders think. Plus, another round of Russell's Weekly Rundown and the Crystal Ball.

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The markets keep rallying, volatility keeps fading, and traders keep asking the same question: what could possibly go wrong?

This week on Volatility Views, Mark Longo, Russell Rhoads (Dr. VIX), and Jim Carroll of Ballast Rock Private Wealth dive into the "don't worry, be happy" market regime, VIX refusing to break higher, massive VIX weekly call activity, surprising market resilience in the face of geopolitical risk, and whether traders are underpricing uncertainty.

Plus: • The rise of "Sexy Volatility" (VSXY) • Urban legends, Bobby McFerrin, and market complacency • Historic VIX weekly options activity • Spot-up / vol-up behavior • SVIX vs UVIX performance • Crystal Ball forecasts and more

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Summer has officially arrived in the vol markets. In this episode, Mark Longo and Russell Rhoads break down a week where the markets seemed to ignore everything from Middle East conflict to hot inflation numbers—until a Friday sell-off finally brought a splash of red to the screen.

The guys dive deep into the curious case of the "Unchanged Universe," where SVIX, UVIX, and VXX are sitting almost exactly where they were a week ago. Is this the start of a long, quiet "Volatility Summer," or is the market underestimating the impact of a new Fed regime?

Inside This Episode:

The Volatility Review: A look at the VIX cash spike to 18.50 and the rare "smile" skew appearing in the NASDAQ and Russell 2000.
China Sojourns & Tech Skew: Was there front-running ahead of the tech CEO trip to China?
VIX Option Flow: Analyzing massive positions in the June 65 calls and an intriguing August 1x2 ratio spread.
The "Unched" Report: Why SVIX and UVIX haven't moved in two weeks and what that means for your overriding strategies.
Crystal Ball: Mark and Russell place their bets on where vol heads as we approach the Memorial Day holiday.

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In this episode of Volatility Views, host Mark Longo checks in from the road at the Options Industry Conference (OIC) to break down a week of relentless market rallies and "upside crashes." Joining the show is Hans Albrecht from Option Pit, who steps into the hot seat to discuss why volatility isn't dropping despite the S&P 500 blowing past 7,300.

The duo explores the shifting market structure—from the rise of 0DTE (Zero Days to Expiration) options to the looming world of 24-hour options trading and AI-powered brokers. Plus, a look at the "Evil Hans" trope in fiction and why giving yourself "time to be wrong before you're right" is the ultimate trading edge.

Key Highlights Include: * The OIC Briefing: Predictions for 18 billion contracts in 2024 and the legal battle over "trades vs. bets" in prediction markets. * The Upside Crash: Why the VIX is staying bid even as markets hit all-time highs—and the parabolic moves in names like Micron. * Market Structure Shifts: The impact of CTAs, vol-targeting funds, and leveraged ETFs on daily closing imbalances. * Volatility Term Structure: A deep dive into the contango/slope and why the October "midterm" futures are worth watching. * VIX Options Flow: Analyzing the massive activity in June 65 calls and the unwinding of May upside verticals.

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The bulls are charging, and volatility is getting "taken to the woodshed." Join Mark Longo, Russell Rhoads (the "Volatility Closet" resident), and Mark Sebastian (the "Greasy Meatball") as they break down a massive week in the markets. From the "mother of all tech earnings weeks" to the generational spending on AI, the crew explores why the VIX remains under pressure despite global geopolitical turmoil and a hawkish-leaning Fed.

In this episode, the team dives into:

The Volatility Review: A post-mortem of the April markets, the impact of the FOMC meeting, and how mega-cap tech earnings are reshaping the volatility landscape.
VIX vs. VVIX: Russell analyzes the relationship between the VIX and the "Vol of Vol," and whether the current divergence is the ultimate fade signal.
Russell's Weekly Rundown: A look at the weird and wild trades hitting the tape, including a "penny" VIX binary and a 21-19-17 put fly.
The Crystal Ball: The guys place their bets on where the VIX cash will settle next week.
Pro Trading Crate: Announcing the April winner and the debut of Dan Passarelli's brand-new book.

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Is the traditional volatility conference a dying breed? This week on Volatility Views, host Mark Longo and the "Once, Future, and Present Dr. VIX," Russell Rhoads, dive into the shifting landscape of institutional trading events—from the legendary "swag mazes" of the CBOE Risk Management Conference (RMC) to the distinct lack of retail-friendly education in the space.

The duo breaks down a week of head-scratching market action where the S&P 500 hits new all-time highs while the VIX remains surprisingly "spicy" due to geopolitical uncertainty and ceasefire extensions.

Highlights include:

The RMC Swag Report: Russell reviews the high-end gear at this year's conference and the curious absence of electronic swag.
The VVIX/VIX Ratio: A deep dive into using this relationship as a hard trading indicator.
VIX Options Flow: Analysis of massive prints in the May and June cycles, including a rare 15,000-lot weekly trade that caught Russell's eye.
The "Hair Dryer" Hedge: A wild look at betting markets and a Polymarket trader who allegedly rigged a weather-based bet.
Crystal Ball: Mark and Russell place their bets on the VIX handle for next week.

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Is it "opposite day" in the financial markets? In this episode of Volatility Views, Mark Longo is joined by Russell Rhoads (Dr. VIX), Andrew Giovinazzi from Option Pit, and Scott Nations from Nations Indexes to deconstruct a wild week where bad news for the world seemingly became fuel for a massive equity rally.

The team dives deep into the "Bizarro" nature of the current landscape—where a blockade of the Strait of Hormuz resulted in a market surge and a ceasefire triggered explosive upside momentum.

Key topics include:

The Volatility Review: A look at VIX Cash levels, the collapse of VVIX, and the surprising lack of "flight to quality" in gold and treasuries.
Bizarro Markets: How the S&P 500 reached new highs despite crude oil remaining significantly elevated.
RMC Insights: Russell Rhoads shares his top-level takeaways from the latest Risk Management Conference (RMC), including the shift toward buffered ETFs and the latest research on VIX futures reactions to spot.
VIX Options Flow: A breakdown of massive volume in May and June strikes, including a look at the "Scott Nations Special" deep out-of-the-money calls.
The Crystal Ball: The team peers into the future to predict where the VIX and Volley will land next week.

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On this episode, Mark Longo, Russell Rhoads (the "Dr. VIX"), and Andrew Giovinazzi of Option Pit dive into a wild week in the vol markets. After a massive relief rally triggered by ceasefire headlines, the crew explores whether the "guns going silent" has permanently dampened the VIX or if we're just in a "hurry up and wait" market.

In this episode, we cover:

The Ceasefire Surge: How the S&P 500 roared back past 6,800 and what it meant for VIX cash and Volley.
Volatility Review: A breakdown of the 10-point VIX drop in two weeks and the "spicy" CPI numbers hitting the tape.
The Weekly Rundown: Russell breaks down a "Hall of Fame" trade—turning 9 cents into $1.60—and the rise of deep-in-the-money put spreads.
Futures & Curves: Is the return of contango an opportunity or a trap? Plus, a look at the October "Midterm Vol" and the front-month April futures.
The Crystal Ball: The team places their bets on where the VIX will land next week. Will we see a sub-20 handle or a weekend reversal?

Check out more from the Options Insider Radio Network: * Pro Q&As and Exclusives: TheOptionsInsider.com/Pro

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The "warm turns" mid-week as the post-Iran conflict pattern continues to haunt the markets. In this episode, Mark Longo, Mark Sebastian, and Dr. Russell Rhoads break down why the VIX is finally showing its teeth and whether the 30 handle is the new normal.

Inside this episode:

The Volatility Review: A deep dive into the "Weekend Trade" dynamics, the spike in VVIX, and why the "bus drivers" of this market—Oil and Bonds—are screaming for attention.
The Looming Specters: Analysis of the OECD's revised inflation forecasts and why the "R-word" (Recession) is starting to echo across Europe and the US.
VIX Options Insight: Are the 15 puts dead? We look at the massive flow into April 20 and 19 puts, and the debut of some "psychologically relevant" strikes.
Russell's Weekly Rundown: Dr. VIX explores the "most important election of our lifetime" trade and highlights a rare appearance of the April 39 calls.
ETP Check-in: The shifting liquidity from UVXY to UVIX and how to manage the "ulcer index" in a backwardation environment.

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In this episode of Volatility Views, the crew breaks down a week of intense market swings driven by escalating Middle East conflict and a stunning shift in the Fed's long-term rate outlook. We also pay tribute to the legendary Chuck Norris (1940–2026) and discuss why his passing—and the spirit of Lone Wolf McQuade—is the perfect metaphor for today's "fighting" markets.

Key Topics Covered:

The 2027 Pivot: Why the market is suddenly pricing in a "higher for much longer" regime, with the next potential rate move shifting toward late 2027.
Geopolitical Volatility: How the Iran-Israel conflict and threats to oil supply chains are keeping the VIX term structure in a state of nervous backwardation.
The Gretchen Bullseye: Russell Rhoads' model nails the VIX Cash settlement at 26.26. We look at the next prediction for the week ahead.
The UVIX "Open-to-Open" Edge: A deep dive into Russell's new back-tested strategy for trading volatility ETPs over the weekend.
VIX Option Flow: Analyzing the massive April 80 call interest and why the "May 47.5" trade just rolled to August.

Featured Guests:

Mark Longo (The Options Insider)
Andrew Giovinazzi (Option Pit)
Russell Rhoads (VIX Expert & Author)

Links: Get more at TheOptionsInsider.com/Pro

It's a spooky Friday the 13th on the Options Insider Radio Network! This week, the panel gathers to dissect a market that is being haunted by more than just superstitions. From explosive moves in energy to a bond market that is sending shockwaves through the 60/40 portfolio, the "murderers' row" of vol experts covers it all.

On the Docket:

The Energy "Memification": Mark Sebastian breaks down the "algo madness" in Crude Oil and why the move to $120 was a mechanical outlier.
The Bond Market Cracks: Dr. Russell Rhoads and Jim Carroll discuss why "9 Vol" in the 10-year Treasury is the equivalent of a 40 VIX and what it means for interest rate expectations.
VIX as a Passenger: Why the VIX is "yawning" at 27 despite the red across the screens.
The Weekly Rundown: Dr. Rhoads reviews a litany of "crappy trades" and highlights a massive 20,000-lot mystery trade in the VIX weeklies.
Crystal Ball: Will next week bring a "Jalapeño" spike or a "Vanilla" retreat? The team places their bets on the next VIX settlement.

Featuring:

Host: Mark Longo, The Options Insider
The Greasy Meatball: Mark Sebastian, Option Pit
The Professor Dr. VIX: Dr. Russell Rhoads, IU Adjunct Professor
The Vixologist: Jim Carroll, Ballast Rock Private Wealth

The VIX is screaming higher, hitting a 27 handle as the "Danger Zone" officially reopens. On this episode of Volatility Views, Mark Longo is joined by Russell Rhoads, Andrew Giovinazzi, and Matt Amberson to break down a chaotic week fueled by active conflict in the Middle East and a "charitably termed" terrible non-farm payrolls number. Plus, the legend himself, Kenny Loggins, returns to the program as volatility looks skyward.

On this episode, the panel dives into:

The Volatility Review: Analyzing the 6-point spike in VIX Cash and the massive 15-point jump in the VVIX.
The Oracle of New Hampshire: Matt Amberson (ORATS) explains why things are spicy enough for him to start buying straight puts.
Russell Rhoads' Weekly Rundown: A deep dive into VIX option flow, including the massive interest in the March 20 puts and the July 60 calls.
The Return of the Loggins: Kenny Loggins joins the show as the market flirts with "panic" territory and the backwardation deepens.
Stagflation Worries: Andrew Giovinazzi and the team discuss why $90 oil and bad employment data are a nightmare for the Fed.
Crystal Ball: The team makes their bold (and high) VIX prognostications for next week.

Tech wreckage is cutting the knees off the market, and the volatility panel is seeing red. This week, Mark Longo, Mark Sebastian, and Russell Rhoads dive into why the VIX is firming up despite the market sitting near all-time highs.

Topics Breakdown:

The Inflation Ghost: Why hotter inflation data is spooking the vol curve and keeping VIX above 20.
The March 35 Calls: Why is this strike dominating the tape every single day?
UVIX Management: A deep dive into "The Riddle of UVIX." We workshop how to use covered calls to offset decay without capping your "catastrophe hedge" upside.
Election Vol: The November VIX cycle has entered the chat. Is it too early to hedge the midterms?
Institutional Skullduggery: Discussing the Jane Street/Bitcoin lawsuit and the "Goldman Sachs fist punch" in financials.

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Is the market teetering on the edge of a "seminal collapse"? On this episode of Volatility Views, Mark Longo, Mark Sebastian (the "Meatball"), and Russell Rhoads (Dr. VIX) break down a chaotic week in the vol markets. From the aftermath of a legendary "V-Death Match" on the Pro network to the Supreme Court's ruling on tariffs, the team explores why the VIX is hovering near 20 despite indices sitting near all-time highs.

Inside This Episode: * The Volatility Review: A deep dive into the "weird" market reaction following the Supreme Court tariff ruling, spicy PCE data, and the decoupling of the Mag Seven from the rest of the market. * The Private Credit Fiasco: Mark Sebastian sounds the alarm on cross-asset margining, Bitcoin's "teetering" state, and the potential for a Michael Saylor "apology tour." * The VIX Mothership: Analysis of the massive call buying in March, April, and even May 70/80 strikes. Is someone hedging for a black swan? * Russell's Weekly Rundown: Breaking down the "best option trade ever seen" using July 100 calls to finance downside protection. * The Weekend Trade: With carrier groups moving in the Gulf and geopolitical tensions rising, is it time to load up on UVIX?

The "Buy the Dip" mentality was put to the test this week. Host Mark Longo is joined by Dr. Russell Rhoads (the "Once, Future, and Present Dr. VIX") and Andrew Giovinazzi (The Rock Lobster) to break down a wild week that saw the VIX touch the 22 handle before a massive intraday reversal.

In this episode, the crew dives into:

The Volatility Review: Analyzing the impact of the rare midweek non-farm payrolls and the latest CPI data on market sentiment.
AI Narrative Shift: Is the "AI is good for everything" bubble finally bursting? A look at multiple compression in the Mag Seven and the "Grizzly Adams" view of the market.
Russell's Weekly Rundown: Dr. Russell Rhoads breaks down the "clown show" trades in the weeklies, the impact of the VIX bid-ask spread on morning spikes, and why the current correlation data suggests 2026 is behaving like a different beast.
Crystal Ball: The team places their bets on where the VIX will settle next week as we head into a holiday-shortened trading session.

Plus: A massive announcement regarding Vol Death Match 2.0: The Flow Master vs. Scott Nations. Find out how you can submit topics and judge the victor at TheOptionsInsider.com/pro .

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The market witnessed a wild week of price action, shifting from a tech-led "bloodletting" to a massive Friday reversal. In this episode, Mark Longo, Russell Rhoads (Dr. VIX), and Mark Sebastian (The Greasy Meatball) break down the carnage in the Mag Seven, the "memification" of Bitcoin assets like MSTR, and why the VIX is struggling to hold onto its gains despite the chaos.

Inside This Episode:

Volatility Review: A deep dive into the mid-week route and the "mother of all reversals." Why the Dow and equal-weight S&P (RSP) hit all-time highs while big tech bled.
The "Memification" of Everything: Mark Sebastian explains why Bitcoin and MicroStrategy (MSTR) are following the GameStop blueprint.
VIX Term Structure: Analyzing the "hunched" curve and why front-month futures remain subdued.
Russell's Weekly Rundown: A look at "unusual" weekly trades, including a massive $5 call buy on the 15 strike.
The New 0DTE Frontier: First impressions of the new Tuesday/Thursday expirations for single-name equities like Tesla and Nvidia.
Crystal Ball: The crew places their bets on where the VIX cash will land by next Friday's close.

Contact/Links:

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A historic rout in the precious metals markets steals the spotlight this week on Volatility Views. From silver's massive 25% intraday drop to the naming of a new (and hawkish) Fed Chair nominee, the panel breaks down why the "Metals Apocalypse" might be a canary in the coal mine for the broader equity markets.

Join Mark Longo, Dr. Russell Rhoads, and Mark Sebastian as they navigate a high-velocity week of volatility, earnings, and unusual institutional positioning in the VIX.

Episode Highlights The Silver Slump The "Meme-ification" of silver reached a breaking point this week. After months of triple-digit volatility levels, silver prices cratered 25% in a single session. The panel discusses whether this 46-year historic event suggests a broader 20% retracement for the S&P 500 is on the horizon.

Fed Chair Shakeup The market reacted negatively to the news of Kevin Warsh potentially taking the helm at the Fed. While he has campaigned for lower rates, his history as an inflation hawk has traders worried about a return to a strict "dual mandate" focus that might not be as market-friendly as the Powell era.

Unusual VIX Activity Despite the market sell-off, we aren't seeing "panic" buying in near-term VIX options. Instead, institutional paper is flowing into March and April, including a massive 80,000-contract diagonal spread involving June 47.5 calls. Is it a hedge, or just a sophisticated carry trade?

Notable Quotes "When gold and silver catch a cold, the miners catch every single disease you could possibly catch from the Oregon Trail. They're getting dysentery, typhoid, and malaria all at once." — Mark Sebastian

"If you blink, you miss a move up in VIX futures. That's the only opportunity to make money being long them, and it leads to massive upside fatigue." — Dr. Russell Rhoads

Resources Mentioned * Brokerage: https://Tastytrade.com/podcasts * Social Media: Follow the crew on X: @Options, @OptionPit , @Rhoads_Russell .

The Council of Elders Reconvenes: The Greenland Siege and the Power of Gamma

In this episode of Volatility Views, the Council of Elders—Mark Longo, Russell Rhoads, and Mark Sebastian—gather at the Hall of Wisdom to break down a week of market madness that would make Skeletor blush. From VIX spikes driven by "Greenland Siege" headlines to the massive $100 breakout in Silver, the team analyzes the forces reshaping the volatility landscape.

Inside the Hall of Wisdom: * The Volatility Review: The team breaks down the "Greenland Whipsaw." We look at the VIX Cash flirting with a 20 handle before "deal" headlines sent vol crashing back to the Pit of Peril. * Attack of the Zero DTEs: Huge news from NASDAQ! The Elders discuss the launch of daily options on individual equities. Is this a boon for traders or a "Snake Mountain" trap of contra-exercise risk? * VIX Term Structure & Tactical Flow: Russell and Mark dive into the Feb/March roll and the staggering volume in Feb 25 and 35 calls. Plus, a look at the "Hero's Journey" for Silver as it hits the par strike. * Vol Death Match 2.0: Get ready for the ultimate showdown between the Flow Master and Scott Nations. Two men enter, one man emerges—you decide the victor at theoptionsinsider.com/pro . * Eternia Nostalgia: The crew is "unreasonably excited" for the new Masters of the Universe movie. We discuss the teaser for the teaser, the lack of "CGI roids" on the new He-Man, and why a Snake Mountain popcorn bucket is a mandatory purchase.

The Council of Elders: * Mark Longo: The Options Insider * Russell Rhoads: Indiana University * Mark Sebastian: Option Pit

In this episode, Mark Longo is joined by Dr VIX Russell Rhoads and Andrew Giovinazzi (The Rock Lobster) to conduct a "post-mortem" on 2025 and break down the surprising trends defining the start of 2026.

The team dives deep into the VIX/SPX correlation breakdown, exploring why the traditional inverse relationship failed many traders last year. Russell brings the hard data, revealing how 2025 nearly set a record for the highest inverse correlation—making diversification more difficult than ever.

Topics covered in this episode:

Volatility Review: A look at the "yo-yo" week in the S&P and the recent firmness in VIX Cash.
The Correlation Myth: Why "buying the dip" worked but "shorting vol" was a losing battle in 2025.
VIX Term Structure: Analysis of the Jan/Feb futures and the 100% premium to realized volatility.
VIX Options Flow: Breaking down the massive activity in Jan 17 calls and the persistent "magic" of the 15 puts.
The Crystal Ball: The team places their bets for next week's VIX close and debuts their 2026 year-end predictions.

It is a New Year in the volatility markets! Host Mark Longo is joined by "Dr. VIX" Russell Rhoads and Mark Sebastian of Option Pit to break down a wild 2025 and peer into the crystal ball for 2026. From the "tariff tantrums" and "taper tantrums" of last year to the rise of 0DTE options and the recent "face ripper" ratio spreads, the team analyzes why the VIX median stayed elevated even without major explosive events. Plus, the moment you've been waiting for: we crown the 2025 Crystal Ball Hall of Fame winners and launch the official 2026 contest!

What's Inside this Episode:

The Volatility Review: A deep dive into the 2025 "Mad Vol Year." Why was the median VIX so much higher than normal?
The 0DTE Impact: How zero-day options are reshaping the term structure and long-dated premium.
VIX Face Rippers: Russell breaks down the bizarre ratio call spreads hitting the tape and what they signal for January and April volatility.
The Crystal Ball Hall of Fame: We announce the four winners who nailed the 14.95 year-end VIX close within 0.1pt.
2026 Predictions: The crew places their bets for the coming year. Can we see a sub-10 VIX, or will the midterms push us toward 17.76?

Key Timestamps:

[00:00] Introduction and "Happy New Year" Cutoff Debate
[07:15] 2025 Year-in-Review: The high of 60 and the 14-handle reality
[15:40] The "Tariff Tantrum" and Fixed Income Volatility
[22:10] Term Structure Analysis: Why the current curve is "poison" for ETP longs
[31:45] Russell's Weekly Rundown: Explaining the "Face Ripper" trades
[45:10] Crystal Ball 2025 Winners Revealed
[52:30] 2026 Official Predictions & Closing Levels

Connect with the Guest Experts:

Russell Rhoads: Follow on X @RussellRhoads
Mark Sebastian: Visit OptionPit.com or follow on X @OptionPit

Support the Network: This episode is brought to you by Tastytrade. See why Investopedia named them the best broker for options in 2024. Visit tastytrade.com/podcasts to learn more.

Happy New Year, Vol Maniacs! Mark Longo kicks off 2026 by welcoming Jim Carroll (The Vixologist) to the first Volatility Views of the year. Jim helps us close the books on 2025. From the "Tariff Tantrum" to the birth of the proprietary "VIX Mix," we break down the trends, trades, and traps that defined the volatility landscape over the last 12 months.

Volatility Review: The 2025 Autopsy * The Tariff Tantrum: Why April 2025 became the apex of volatility for the year, sending VIX cash to an intraday high near 60. * VIX Cash Highlights: A look back at the 17.93 start in January and the contentiousness of the year-end 14.95 close. * The "VIX Mix" Debrief: Jim Carroll breaks down the first full year of his 17-component composite indicator. * Realized Volatility: Why 2025 saw a wider range of realized vol than 2024, yet remained "well-behaved" compared to 2022 or 2020. * Credit Market Canaries: Why the Move Index and corporate bond behavior were the secret drummers for equity volatility this year.

Trades & Trends: Where Money Lived (And Died) * The 15 Put Trap: Why the VIX 15 put strike was the ultimate "scratch-off ticket" that never paid off for retail traders. * The 47.5 Call Mystery: Analyzing the massive, recurring upside rolls that dominated the tape all year. * Capital Efficiency: A look at the bizarre VIX 200 put spreads and the shifting of institutional volume from futures into options. * The Vol Fade Game: Performance reviews of SVXY, VXX, and the opportunity to scoop SVX during the April dip.

The Crystal Ball: Predictions for 2026 The team kicks off the new year's prediction game. Will 2026 be the year of the 23.00 VIX?

Resources & Links * Follow Jim Carroll: Twitter/X: @vixologist * Brokerage Spotlight: tastytrade.com/podcasts

Connect with the Network * Twitter/X: @Options * Web: TheOptionsInsider.com * Questions: questions@theoptionsinsider.com

In the final Volatility Views of 2025, host Mark Longo is joined by Russell Rhoads (Dr. VIX) and Michael Listman (UVXY Trader) to dissect a wild year in the markets. From the "Santa Claus Rally" to the crushing of the VIX, we break down what traders need to know heading into 2026.

In This Episode: * Volatility Review: A look at the S&P 500 hitting all-time highs and the recent "volatility execution." Why did the Santa Rally take so long to arrive? * UVXY Deep Dive: Michael Listman breaks down the UVXY reverse split mechanics. We discuss why liquidity is the best argument for UVXY and how to manage the "beta slippage" game. * The Pairs Trade: Exploring the strategy of pairing UVXY vs. SVXY (or SVIX) to capture slippage while managing directional exposure. * VIX Term Structure: Why the current curve is "steep" and what a 5-point premium in February futures says about 2026 market expectations. * VIX Options Flow: Analyzing the "Jan 17 Puts" and the mysterious ongoing activity in the VIX 200 strike puts. * The Crystal Ball: The team places their final VIX cash predictions for the first week of January 2026.

Key Discussion Points: * The "VIX Wizard": Why volatility arrives precisely when it means to (and how to monetize puts before they expire). * Reverse Split Strategies: Does a 1-for-5 or 1-for-10 split actually change the trade? * The "Weekend Trade": Russell's strategy for holding UVIX/UVXY over the weekend to catch volatility events.

Resources & Links: * Russell Rhoads (Dr. VIX): Follow him on X/Twitter @RussellRhoads . * Michael Listman: Follow him on X @UVXYTrader or visit UVXY.pro . * Options Insider Pro: Get the Pro Trading Crate and join the Vol Death Match at TheOptionsInsider.com/Pro . * TastyTrade: Check out advanced tools for options and futures at TastyTrade.com/podcasts .

In this episode of Volatility Views on the Options Insider Radio Network, Mark Longo and Dr. Russell Rhoads dive into the shifting landscape of volatility as the final full trading week of 2025 comes to a close.

While much of the market is heading into holiday "hibernation," geopolitical tensions are lighting up the commodity space. The team breaks down why Energy CVOL is pinning the needle to the upside while Treasury and FX volatility are being "taken to the woodshed."

Key Topics Covered: * The Venezuela "Brouhaha": How intensified pressure and crude embargoes are reviving Energy CVOL (WTI) and driving it to weekly highs. * Commodity Volatility Split: A deep dive into the aggregate CVOL levels for Metals, Ags, and the broader Commodities complex vs. the dying volatility in Fixed Income. * The VIX Term Structure: Analyzing the current curve and what the "post-Fed" environment means for the remainder of 2025. * Vol Products in Focus: Performance updates and trade analysis for SVXY, UVXY, and VIX futures. * Looking Ahead to 2026: Anticipated market movers and volatility catalysts for the new year. * Listener Mailbag: Russell and Mark answer your questions regarding volatility products and specific trading strategies.

In this episode of Volatility Views, Mark Longo (The Options Insider), Russell Rhoads (Kelley School of Business at Indiana University), and Andrew Giovinazzi (The Option Pit) dive deep into the week's market volatility. They begin with an in-depth analysis of the notable Fed cut announcement and its immediate market implications.

Key Volatility Trading Insights:

VIX Products & Options: Detailed breakdown of VIX options behavior, volatility spikes, and significant trades.
Fed Reaction: Analyzing insights from Fed officials and the overall market reaction to the rate decision.
ETPs Explored: Intricacies of volatility ETPs, including $SVIX and $UVXY performance and strategy.
Strategies & Predictions: In-depth trading strategies and predictions for the upcoming week in the volatility market.

In this episode of 'Volatility Views,' the market's premier volatility podcast, we tackle the biggest questions for volatility traders: Are anticipated interest rate cuts about to crush the entire VIX term structure?

This episode is hosted by Mark Longo (The Options Insider) and joined by Mark Sebastian (The Option Pit) and Dr. Russell Rhoads (Indiana University Kelley School of Business).

We break down recent VIX options flow, examine crucial shifts in the volatility curve, and offer a forward-looking forecast for the Cboe VIX Index in the coming week.

📈 Episode Highlights & Volatility Trading Strategy * VIX Curve Alert: Dissecting the major shifts in the VIX term structure and how short-term contracts are reacting to forward-looking interest rate expectations. * VIX Weekly Options: A detailed breakdown of notable and unusual flow in VIX weekly options and their impact on daily volatility. * Inverse Volatility Risks: Updates and analysis of inverse volatility ETPs and VIX ETPs, with a deep dive into the trading behavior and volume patterns of UVXY following its recent reverse split. * The VIX Forecast: The panelists' final VIX market prediction for the upcoming week and actionable strategies for VIX traders.

HOST: Mark Longo, The Options Insider

CO-HOST: Dr. Russell Rhoads, Indiana University Kelley School of Business

In this episode, the hosts dive into the current state of volatility in the market, providing in-depth analysis and trading strategies. The discussion includes the recent movements in VIX futures, the impact of economic announcements, and unconventional strategies like weekly put sales. They also cover notable VIX options trades and the potential effects of upcoming events on market volatility. Plus, they end the show guessing where VIX will be in two weeks in our crystal ball segment.

HOST: Mark Longo, The Options Insider

CO-HOST: Russell Rhoads, Indiana University Kelley School of Business

CO-HOST: Mark Sebastian, The Option Pit

GUEST: Jeff Nguyen, Cboe Global Markets

On this episode, we explore the latest in the world of volatility trading. Jeff Nguyen joins us to explain the Cboe's newly launched VIX Decomposition Tool that analyzes VIX moves through various contributing factors. The show also delves into the past week's volatility trends, notable options trades, and the impact of zero DTE strategies on the current market. The team discusses the state of volatility ETPs and how they are performing under current market conditions.

HOST: Mark Longo, The Options Insider CO-HOST: Russell Rhoads, Indiana University Kelley School of Business CO-HOST: Andrew Giovinazzi, The Option Pit GUEST: Bill Luby, @VIXandMore On this episode, the discussion revolves around the recent spike in volatility and its implications for traders. They also explore AI's role in market valuation, with differing opinions on its long-term impact. Other highlights include analysis of the VIX term structure, the surge in VIX futures trading, and notable VIX options trades. Additionally, Bill Luby shares insights into trading VXX, and listeners get the latest updates on other popular volatility ETPs. The episode concludes with the panelists' predictions for VIX levels in the upcoming week.

HOST: Mark Longo, The Options Insider Media Group CO-HOST: Mark Sebastian, The Option Pit CO-HOST: Russell Rhoads, Indiana University Kelley School of Business With an appearance by Brian Overby, Options Playbook Radio! In this Halloween-themed episode of Volatility Views, host Mark Longo is joined by regular contributors Mark Sebastian and Russell Rhoads, as well as a special guest appearance by Brian Overby. The discussion focuses on the nuances of volatility trading, touching on the performance and volume of vol-related ETFs like UVIX and SVXY, the impact of lofty P/E ratios on market sentiment, and the effects of the latest Fed actions. The show also delves into listener questions, weekly reviews of significant volatility trades, and the dynamics of overwriting trades. The episode concludes with predictions for VIX levels for the upcoming week.

HOST: Mark Longo, The Options Insider Media Group
CO-HOST: Russell Rhoads, Indiana University Kelley School of Business
CO-HOST: Mark Sebastian, The Option Pit
GUEST: Scott Nations, Nations Indexes

In this episode, we discuss the significant movements in volatility over the past week, including the aggressive sell-off in volatility and its causes. We also talk about the behavior of zero-DTE options and the influence of trading strategies on the market. The episode also covers the latest in VIX options trading, with a special segment on unusual trades, the current state of volatility ETPs, and predictions for the next week's volatility landscape.

Host: Mark Longo, The Options Insider Media Group
Co-Host: Mark Sebastian, The Option Pit
Co-Host: Russell Rhoads, Indiana University Kelley School of Business

In this episode, the team dives deep into the recent surge in market volatility, analyzing the influx in VIX trading activity and discussing the potential for significant market shifts. Key highlights include a detailed look at massive trades in the VIX options space, the potential introduction of highly leveraged ETPs such as 3x VIX ETPs, and the possible implications of a 'crypto doom loop' triggered by a Bitcoin crash. The episode also features a breakdown of the recent trading behavior in vol ETPs like SVIX, UVIX, and UVXY, and a lively discussion forecasting future volatility levels.

Host: Mark Longo, The Options Insider Media Group
Co-Host: Russell Rhoads, Indiana University Kelley School of Business
Co-Host: Mark Sebastian, The Option Pit

In this episode of Volatility Views, we dive deep into the world of volatility with a specific focus on the recent VIX activity, options trading, and market reactions. Discussions include the sudden spike in VIX, significant call option trading, especially around the October 35 strikes, and strategies for monetizing these moves. We also cover the impact of recent tweets by Trump on market volatility and provide a comprehensive analysis of the VIX futures term structure. Additionally, there is significant trading volume noted in UVXY, illustrating a broader market reaction to the volatility spike. The episode wraps up with predictions and considerations for the next week's volatility.

Host: Mark Longo, The Options Insider Radio Network Co-Host: Russell "Dr. Vix" Rhoads, Indiana University Kelley School of Business Co-Host: Andrew "The Rock Lobster" Giovinazzi, The Option Pit * VIX Stays Muted: Why the VIX is stuck at 16 while the S&P hits new highs during the ongoing U.S. government shutdown. * Gold vs. VIX: Listeners weigh in on the better gauge of market fear. * Inside the Quants: Dr. Vix's discusses noteworthy highlights from several recent volatility and trading conferences, including exclusive takeaways on "Beta Vega" and the future of vol research. * Volume Explosion: 1.4 BILLION options contracts traded in September. * Crystal Ball: Our VIX predictions for next week

In this episode, Mark, Andrew Giovinazzi (The Option Pit) and Russell Rhoads (Indiana University) delve into the current state of market volatility, discussing the impact of an anticipated government shutdown, the fluctuating volumes in VIX options trading, and the contrasting signals from gold and VIX as indicators of market sentiment. The episode explores the latest developments in the volatility trading world, including compelling options strategies and a sneak peek at a quantitative model predicting future VIX levels. 01:03 Welcome to Volatility Views 02:24 Market Updates and Analysis 17:44 VIX and Gold as Market Sentiment Gauges 22:13 VIX Futures Term Structure 34:42 Top 10 VIX Trades of the Week 36:28 Russell's Weekly Rundown 52:08 VIX ETPs and Market Sentiment 54:25 Crystal Ball Predictions 01:00:18 Closing Remarks and Resources

Mark Longo, Scott Nations (Nations Indexes) and Andrew Giovinazzi (The Option Pit), provide comprehensive analyses on recent volatility developments, including the Federal Reserve's rate decisions and their market impacts. They discuss various volatility indices, trading strategies, and notable market movements. 01:03 Welcome to Volatility Views 02:23 Market Analysis 07:46 Volatility Review and Analysis 17:12 VIX Futures and Options Insights 33:26 Top VIX Options of the Week 37:02 Unusual VIX Trades and Strategies 42:22 Inverse Volatility Products 46:20 Volatility ETP Landscape 49:56 Listener Questions and Insights 53:14 VIX Predictions for Next Week 01:00:03 Closing Remarks and Resources

In this episode, hosts Mark Longo from The Options Insider, Mark Sebastian from Option Pit, and Russell Rhoads from the University of Indiana dive deep into the latest developments in the volatility market. The trio discusses bond volatility, VIX options, and the curious behavior of the VIX ahead of a highly anticipated Federal Reserve meeting. They also look at VIX-related ETPs and make their weekly predictions for the VIX.

Timestamps * [0:00] Introduction * [3:20] The volatility review: market performance and VIX analysis. * [7:15] Discussion on bond volatility and the surprising calm before the Fed meeting. * [12:30] VIX term structure and futures analysis. * [16:45] Russell's Weekly Rundown: analysis of specific VIX options trades. * [25:00] VIX options paper and trade activity. * [29:00] Inverse volatility and VIX ETPs. * [32:15] Discussion on a potential Fed surprise and its market impact. * [36:00] The Crystal Ball: VIX predictions for the upcoming week. * [40:15] Final thoughts and how to follow the hosts.

This episode of Volatility Views discusses the recent market volatility, particularly in response to the non-farm payrolls report. Mark Longo and Russell Rhoads (Indiana University Kelley School of Business) analyze the impact of the economic data on VIX cash and futures, highlighting the surprising downturn after an initial market rally. They examine the VIX futures curve, noting the significant spread between the September and October contracts. The episode also delves into a discussion about the explosive growth of options trading volume and whether the options market has become so large that it is now "wagging the dog" of the underlying stock market. They also review VIX option volume for the week, pointing out a high number of contracts traded, including some unusual trades and large spreads. The show concludes with their weekly VIX predictions for the following week.

Show Notes:

1:00 Welcome
3:50 Volatility Review: Non-farm Payrolls Report
6:30 Discussion on Market Reaction and Fed Rate Cuts
9:50 VIX Futures and Volatility Surface Analysis
12:40 Conversation about Options Volume Growth and the "Tail Wagging the Dog"
16:40 Discussion on Jane Street in India and Single Stock Futures
18:50 VIX Options Volume Review (Top 10)
21:05 Russell Rhoads' Weekly Rundown (Unusual Trades)
27:50 Host's Breakdown of Daily VIX Volume
30:00 VIX ETPs and Inverse Volatility Products
33:30 The Crystal Ball: Weekly VIX Predictions
36:30 Closing Remarks

In this episode of Volatility Views, hosts Mark Longo, Russell Rhoads, and Mark Sebastian discuss the unusual market behavior of a Friday sell-off after a week of bullish momentum. They analyze the reasons behind the market's sudden shift to the red, including a surprising reaction to recent Fed commentary and pre-holiday weekend risk management. The show delves into the VIX and VIX futures curve, highlighting unusual calendar spreads and a large-volume trade in out-of-the-money October calls. The hosts also review volatility ETPs like SVIX, UVIX, and UVXY, noting the "air pocket" between futures and cash that benefits inverse volatility products. The show concludes with their "Crystal Ball" predictions for the following week's VIX level.

Timestamps * 2:02: The Volatility Review * 2:15: Market sell-off and VIX pop * 3:50: Mark Sebastian's market commentary * 7:46: Russell Rhoads market commentary * 11:59: VIX futures curve analysis * 13:58: Russell Rhoads analysis of the back end of the curve * 16:30: VIX options trading * 18:50: Russell's Weekly Rundown of specific trades * 22:56: Discussion of the "I Can't Drive 55" trades (wild out-of-the-money calls) * 24:28: Most active VIX options for the week * 30:57: Mark Sebastian's key takeaways from VIX options activity * 32:00: Inverse Volatility ETFs (SVIX and VYLD) * 34:55: UVIX and UVXY analysis * 37:25: The Crystal Ball segment (VIX predictions) * 40:50: Russell and Mark's final thoughts

This is a special birthday holiday edition of Volatility Views, providing a rundown of the VIX options market from the past week. The episode breaks down the most active VIX options, open for size positions, and day-by-day highlights of trading activity.

Time Stamps

0:00 Welcome to Volatility Views
2:16 Top 10 VIX Open for Size
5:14 Thursday's VIX Activity
6:58 Wednesday's VIX Activity
8:00 Tuesday's VIX Activity
9:05 Monday's VIX Activity
10:07 Conclusion

In this episode of Volatility Views, Mark Longo is joined by Russell Rhoads (Kelley School of Business - Indiana University), Mark Sebastian (The Option Pit) and Euan Sinclair (Hull Tactical) to discuss the latest trends and market activity in the world of volatility trading. The show dives into specific topics such as current market volatility, the VIX options market, and how different volatility ETPs (Exchange Traded Products) are performing. They provide insights into the volatility surface, market maker activities, and potential impacts from geopolitical and economic events. Detailed analysis and predictions for the upcoming week's volatility levels are provided, along with discussions on specific trades and strategies observed in the market. The episode closes with a look at unusual options activity and the usefulness of different inverse volatility products. 01:05 Welcome to Volatility Views 01:53 Meet the panel 04:14 Volatility Review: Market Recap 06:51 Fed Fund Rates and Market Movements 16:27 Crypto Volatility Insights 26:19 VIX Options Analysis 32:07 Unexpected VIX Trades and Market Reactions 33:32 Analyzing a Bizarre VIX Trade 36:34 Weekly VIX Options Activity 42:42 Inverse Volatility Products Performance 48:36 Predicting VIX Movements 52:39 Conclusion and Final Thoughts

In this episode, Mark Longo, Russell Rhoads (Kelley School of Business - Indiana University), and Matt Amberson (Orats) analyze the significant surge in VIX, evidenced by the current VIX cash at 21 and the heavy trading volume exceeding one million contracts. They discuss how this translates to increased option activity, with substantial trades noted in August and September futures. Matt and Russell elaborate on the week's significant options trades and their implications, including a deep dive into earnings volatility with Matt noting an exceptionally hot earnings season, seeing over 50% returns on straddles. The episode also features insights into the vol ETP landscape, highlighting products like UVXY, SVXY, and VXX and their respective trading activities. Lastly, the hosts provide predictions for the next week, discussing potential market moves in the context of current volatility. 01:05 Welcome to Volatility Views 01:55 Market Overview and Recent Additions 05:28 Volatility Review 14:19 Earnings Volatility Report 21:14 Volatility Surface Analysis 30:38 Weekly Options Analysis 33:27 Analyzing Recent VIX Trades 34:41 Questionable Trade Strategies 36:06 VIX Options Activity Breakdown 43:24 Inverse Volatility and Liquidity Challenges 46:00 Volatility ETPs and Trading Strategies 50:23 Predicting VIX Movements 54:14 Conclusion and Upcoming Events

The latest episode of Volatility Views covers a wide range of volatility trading topics with Mark Longo and Russell Rhoads. The show covers the term structure of VIX futures, recent trades in VIX options, and the seasonality of volatility, especially as it relates to earnings season and its impact on the markets. Key trades in VIX options from the week are highlighted and analyzed. Additionally, the episode features listener questions, including strategies for trading VIX calls and dealing with the challenge of finding favorable trading conditions. The show concludes with predictions for VIX prices in the coming week. 01:08 Welcome to Volatility Views 04:59 Market Overview and Volatility Trends 11:39 Earnings Season Insights 15:44 VIX Futures and Options Analysis 25:52 Russell's Weekly Rundown 33:47 VIX Options Tsunami 34:03 Hot Options of the Day 34:24 Jan 20 Threes Analysis 36:23 AUG 16 Puts and Ratio Spreads 41:12 Inverse Volatility Products 45:01 Volatility Voicemail 45:47 Listener Questions and Flash Polls 54:28 Crystal Ball Predictions 57:14 Show Wrap-Up and Announcements

On this episode of Volatility Views, the hosts dive deep into various volatility trading strategies and notable market developments. Mark Longo is joined by 'Dr. Vix' Russell Rhoads and Andrew 'Rock Lobster' Giovinazzi as they discuss the enduring interest in deep put spreads, including a perplexing trade involving December 200 puts, which leaves the hosts questioning the trader's rationale. The show includes a review of weekly volatility trading activities, analysis of the volatility surface, and a discussion on upcoming events that could affect the vol space. They also engage with listener questions and poll results about premium harvesting and future outlooks for various assets. The panelists share insights into their trading strategies, with Russell revisiting his UVXY versus SVXY weekend play and Andrew providing market scenarios involving VXX erosion. The episode wraps up with predictions for next week's volatility. 01:05 Welcome to Volatility Views 01:52 Current Market Overview 02:08 New Shows and Hot Options Report 05:18 Volatility Review 15:35 Volatility Surface Analysis 25:11 Weekly Trades and Notable Moves 33:01 Evaluating the VIX Trade 34:40 Unpacking the Ratio Spread 35:29 VIX Options Activity Breakdown 41:33 Volatility ETPs Update 46:40 Listener Questions and Insights 51:05 Crystal Ball Predictions

In this episode of Volatility Views, Mark Longo, Russell Rhoads (Kelley School of Business - Indiana University), and Andrew Giovinazzi (The Option Pit) return after the July 4th holiday to delve into recent market volatility. The discussion covers the impact of tariff announcements on Brazil and Canada, leading to increased volume in VIX futures and options. Key highlights include significant trades like the Aug 25/35 vertical spread, the activity in the July 17 puts, and the unusual million-contract VIX options day amid dropping volatility. They also discuss the term structure of VIX futures, significant contango, and volatility ETPs such as SVIX, VXX, and UVXY. The episode wraps up with predictions for the VIX index for the coming week. 01:05 Welcome to Volatility Views 01:54 Post-July 4th Market Recap 05:46 Volatility Review 06:58 Market Reactions and Trade War Impact 09:35 VIX Analysis and Predictions 18:06 Historical VIX Patterns and Future Projections 27:58 Russell's Weekly Rundown 32:57 Analyzing Recent Trades 34:28 VIX Options Activity Breakdown 36:34 High Volume Day Analysis 46:14 Mentorship and Market Reactions 50:55 Volatility ETPs Overview 54:42 Crystal Ball Predictions 01:01:17 Closing Remarks and Resources

In this episode, Mark Longo and his guests, Russell Rhoads (Kelley School of Business - Indiana University), Andrew Giovinazzi (The Option Pit), and Matt Amberson (ORATS) delve into a week characterized by remarkable market movements and surprising fluidity in volatility levels. The panel discusses specific options trades, the broader economic implications of recent events, and their own strategic trading insights. Punctuated by sharp analyses on macroeconomic indicators and a look-ahead towards earnings season, the hosts engage in rich discussions encapsulating the volatile yet intriguing landscape of the current trading environment. 01:05 Welcome to Volatility Views 01:52 Market Recap and Volatility Insights 03:24 Special Guests and Discussions 06:18 Volatility Review 21:42 Earnings Volatility Report 25:24 Volatility Surface Analysis 32:33 VIX Options Activity Overview 33:02 VIX Top 10 Contracts 35:22 Russell's Weekly Rundown 35:44 Monday's Block Trades 37:37 Tuesday's VIX Trades 39:18 Wednesday and Thursday VIX Trades 46:14 VIX ETPs and Market Analysis 51:38 Crystal Ball Predictions 55:39 Show Wrap-Up and Announcements

In this episode of Volatility Views, the show kicks off with a recap of the Volatility Death Match, discussing the dynamics, competitors, and outcomes of the event. With Mark Longo hosting, the episode features contributions from Jim Carroll, Andrew Giovinazzi, and Russell Rhoads, who analyze recent VIX movements, the impact of geopolitical events, and market trends. They discuss the landscape of VIX options, shifting trading strategies, and the implications of recent market behavior, including a look at ETPs like SVXY and UVXY. This comprehensive discussion provides listeners with valuable insights into volatility trading strategies and market forecasts. 01:05 Welcome to Volatility Views 02:18 Volatility Death Match Recap 10:01 Volatility Review 31:42 VIX Options Overview 32:59 Top 10 VIX Positions Breakdown 35:14 Russell's Weekly Rundown 37:30 Bearish and Bullish VIX Trades 49:16 Inverse Volatility Products Discussion 55:16 Crystal Ball Predictions 01:00:36 Closing Remarks and Contact Information

There can be only one! Two men will enter the cage...but only one will emerge victorious. Who will it be? Tune in to find out as Dr. VIX battles the Vixologist to the death on your favorite volatility topics including:

Do after-hours VIX prints obscure what's really happening in the marketplace? Should you ignore them when trading VIX?
How should you use constant-maturity futures in your VIX trading?
What is the TRUE over/under level for VIX that you need to pay attention to in your trading? What levels really matter and which are just marketing hype?
Can you use technical analysis in your VIX trading? Should you?
What is the point of VYLD?
How should you incorporate VIX 9D into your volatility trading?
and much more...

In this episode of Volatility Views, Mark Longo and Russell Rhodes delve into the recent shifts in the volatility landscape. With geopolitical tensions in the Middle East, the VIX spiking to new levels, and market reactions to recent economic events, this episode is a crucial listen for anyone in the volatility trading scene. The discussion also touches on notable trades in VIX options, the peculiarities of the VIX term structure, and the impact of these events on various volatility ETFs. Russell shares his insights on current market activities and to provide an in-depth analysis of recent significant trades. This episode also revisits the heated and recently held VIX Death Match, offering an engaging mix of expert analysis and lively debate. 01:05 Welcome to Volatility Views 02:23 Volatility Death Match Recap 07:50 Volatility Review: Market Analysis 22:17 VIX Options and Futures Rundown 29:19 Analyzing Weekly Futures and Roll Trades 30:23 Deep Dive into VIX Options Strategies 32:42 Evaluating Trade Decisions and Market Impact 35:19 Personal Trading Strategies and Market Observations 37:32 Big VIX Options and Market Activity 43:44 Inverse Volatility Products and Trading Insights 49:41 Crystal Ball Predictions and Market Speculations

This episode of Volatility Views dives deep into the world of volatility trading. Hosted by Mark Longo of Options Insider, the show features guests Russell Rhodes, aka Dr. Vix, and Andrew Giovinazzi, aka the Rock Lobster. The episode covers various aspects including VIX futures, VIX Options trading activities, and the current state of volatility markets. They discuss the current trading week, the performance of inverse volatility products like SVXY and UVXY, and detailed trade analyses. A notable segment involves Russell and Andrew debating the outlooks and trends in the volatility landscape. The episode also sets the stage for an upcoming special battle royale episode between Russell and the renowned Vixologist, Jim Carroll, on a special podcast next week, adding an exciting twist for the listeners. 00:00 Introduction to Options Insider Radio Network 02:05 Meet the Hosts 04:49 Volatility Review 07:15 Market Analysis and Trends 14:40 VIX Futures and Options Discussion 30:50 Standard Expiration and Weekly Trades 31:48 Holiday Week Trading Strategies 32:23 VIX Settlement and Trade Analysis 33:28 Bullish Trades and Risk Assessments 35:20 VIX Options Activity Rundown 44:23 Inverse Volatility Products Discussion 51:58 Volatility ETPs and Trading Strategies 53:06 Crystal Ball Predictions and Closing Remarks

In this episode of Volatility Views, Mark Longo, Andrew Giovinazzi & Russell Rhoads dive deep into the current state of the volatility market. They discuss the day's market movements influenced by unpredictable tweets from Trump and their impact on volatility indices like VIX. The episode covers the rare occurrence of contango in VIX futures above a 20 handle, current VIX call and put positions, and weekly VIX options activity. The hosts also explore the performance and strategies involving inverse volatility products like SVIX. Listener engagement includes a debate on zero-day options and popular TV shows like 'Breaking Bad' vs. 'The Sopranos.' 01:05 Welcome to Volatility Views 02:02 Meet the Hosts 04:24 Volatility Review 04:57 Market Reactions and Analysis 13:02 Volatility Futures Discussion 26:26 VIX Options and Trading Strategies 31:17 Top VIX Strikes and Market Sentiment 32:01 Russell's Weekly Rundown 32:24 Weekly VIX Options Analysis 41:09 Inverse Volatility Products Discussion 52:59 Listener Polls and Questions 55:37 Crystal Ball Predictions 58:36 Show Wrap-Up and Contact Information

In this episode of Volatility Views, Mark Longo and Russell Rhoads discuss the latest movements in VIX, including a surprising spike and its impact on VIX options. They delve into the performance of the secret UVIX weekend trade, revealing an impressive average profit that defies its expectations. Listener questions about the potential introduction of zero-day options in the MAG 7 stocks are addressed, along with the audience's mixed response. The show concludes with crystal ball predictions for the upcoming week and an exploration of intriguing market trades. 01:05 Welcome to Volatility Views 03:54 Market and Volatility Analysis 09:49 VIX Futures and Options Insights 16:48 Weekly Rundown and Trade Highlights 33:28 Inverse V Strategies and Market Sentiments 34:57 Put Spreads and Risk Management 36:42 UVIX Weekend Strategy Insights 45:00 VXX and Volatility ETPs Analysis 50:12 Listener Polls and Zero-Day Options Discussion 58:50 Volatility Predictions and Closing Remarks

In this episode of Volatility Views, the hosts Mark Longo, Andrew Giovinazzi (The Option Pit), Russell Rhoads (Indiana University), and Matt Koren (Eurex) discuss fluctuations in the VIX and VSTOXX futures, along with a look into new volatility ETPs. The episode begins with an overview of the VIX term structures — highlighting the recent flatness in the term structure and its implications. The conversation also explores the significant volatility movement on Monday and its influences. Other discussions include the re-emergence of VIX ETPs and their complexities, how geopolitical events like the potential resolution of the Ukraine war are affecting volatility indices, and a listener's question regarding the relevance of VYLT. The show concludes with the Crystal Ball segment, where the hosts predict the VIX and VSTOXX levels for the upcoming week. 01:05 Welcome to Volatility Views 01:35 Deep Dive into Volatility 02:09 Host Introduction and Pro Membership Benefits 03:13 Guest Introduction: Russell Rhodes 04:37 Guest Introduction: Andrew Giovinazzi 05:25 Guest Introduction: Matt Koren 05:48 Volatility Review 06:34 Market Trends and Analysis 13:36 International Volatility Review 19:35 VIX Futures and Term Structure 27:41 VIX Options Activity 30:18 Russell's Weekly Rundown 33:51 Reflecting on Past Trades 34:05 Volatility and VIX Trades 36:14 Weekly Trade Highlights 37:36 Analyzing Market Activity 39:04 Top Contracts and Market Trends 44:40 Inverse Volatility and ETPs 53:08 Predicting Future Volatility

In this episode of Volatility Views, Russell Rhoads takes over hosting duties for Mark Longo. He is joined by Hans Albrecht from Option Pit. The discussion delves into the current state of the VIX, with insights into trading strategies, gamma, and the importance of understanding volatility products. Hans shares his experience with trading on the floor in Toronto and Montreal, comparing it to the trading environment in the U.S. The episode also covers various trades and positions in VIX options and ETPs, including strategies like call spreads and the challenges of trading in a high-volatility environment. The show concludes with predictions for the VIX in the coming week and a reflection on the late Alex Jacobson's contributions to the options trading community. 01:01 Welcome to Volatility Views 02:49 Hans' Background and Market Experience 08:42 Discussion on Volatility and Market Trends 10:33 VIX and Futures Curve Analysis 14:12 Market Sentiment and Economic Indicators 29:11 Market Overview and Options Activity 31:05 Weekly VIX Options Recap 31:56 Top VIX Positions Analysis 35:29 Weekly Rundown and Trade Insights 45:32 VIX ETPs Discussion 51:17 Volatility Voicemail and Predictions 56:45 Conclusion and Final Thoughts

This episode delves into the recent volatility trends and provides an in-depth analysis of the current earnings season. The hosts Mark Longo, Andrew Giovinazzi (The Option Pit) and Russell Rhoads (Kelley School of Business, Indiana University) discuss the significant moves in VIX and related options, the impact of trade talks and jobs numbers, and the performance of various vol ETPs. Special guest Matt Amberson from ORATS joins to provide insights into earnings volatility and market expectations. Key discussions include the downturn in option-buying benefits during this earnings season and what to expect next in the volatility landscape. 01:05 Welcome to Volatility Views 03:21 Meet the Guests: Russell Rhodes and Andrew Azi 06:06 Volatility Review: Market Trends and Analysis 15:56 Earnings Volatility Report 24:41 VIX Futures and Market Indicators 32:30 Opening Banter and Market Commentary 32:41 Analyzing Recent Trades and Market Movements 33:24 Discussion on Rolling Trades and Market Sentiment 34:59 Unusual Trading Activity and Market Reactions 35:59 Volatility Products and Trading Strategies 38:33 VIX Options and Market Trends 44:01 Inverse Volatility Products and Market Outlook 52:23 Concluding Thoughts and Predictions

In this episode, host Mark Longo and guests Russell Rhoads and Andrew Giovinazzi discuss the latest developments in market volatility. They explore the data provided by Jim Carroll (the Vixologist) on historical VIX movements, the flattening of the volatility term structure, and notable trading activity in VIX options. The episode highlights changing market sentiments, the impact of recent political announcements on vol, and trading strategies leveraging UVIX and SVIX products. 01:05 Welcome to Volatility Views 01:54 Market Recap and Volatility Trends 05:19 Volatility Review 08:55 Historical Volatility Data Analysis 24:43 Term Structure and Market Predictions 31:02 VIX and Nine-Day Volatility Analysis 32:10 Market Volatility Trends and Indicators 33:30 VIX Options Breakdown 36:06 Russell's Weekly Rundown 43:07 Inverse Volatility Products Discussion 51:37 Crystal Ball Predictions 56:43 Closing Remarks and Resources

In this episode of Volatility Views, Mark Longo, Russell Rhodes, Mark Sebastian (The Option Pit) and guest Mike Dever from Brandywine Asset Management discuss the unprecedented market volatility and massive rallies, reminiscent of 2008 price movements. They also analyze wild swings in the VIX and general stock market, sharing insights and strategies employed throughout the week. Significant trades, including a remarkable 50K June 50-100-150 VIX butterfly, are broken down and examined. Predictions for VIX's future behavior range from 25.69 to 33.29, reflecting varying outlooks on upcoming market conditions. Engaging polls regarding Zero-Day traders' activity levels and notable trade strategies provide a comprehensive view of market sentiment. The episode concludes with final thoughts on the landscape for short stocks versus long vol strategies. 01:05 Welcome to Volatility Views 01:52 Market Recap and Trading Insights 03:19 Special Guests and Market Analysis 06:21 Brandywine Asset Management Overview 07:33 Volatility Review 08:16 Historic Market Movements and Analysis 22:40 VIX Futures and Options Discussion 32:53 Analyzing Recent VIX Trades 33:56 Weekly Options Expiration Insights 35:27 High-Risk, High-Reward Trades 37:02 Flash Poll Results and Market Reactions 37:27 Unusual VIX Options Activity 42:01 VIX Options and Market Trends 46:12 Inverse Volatility Products Discussion 50:09 Market Sentiment and Future Predictions 51:47 Final Thoughts and Upcoming Events

In this episode of Volatility Views, Mark Longo, Dr. VIX Russell Rhoads, and The Rock Lobster Andrew Giovinazzi dive into an historic and chaotic week in the market. The VIX surged into the 40s, triggering discussions about unprecedented events and massive market movements. Analysis includes the muted volatility response earlier in the week, the fallout from SVIX plummets, and notable trades in VIX options. The hosts also predict next week's volatility with some cautious optimism after a tumultuous period driven by geopolitical and economic anxieties. 00:00 Introduction to Options Insider Radio Network 01:05 Welcome to Volatility Views 01:52 Kicking Off the Show: Market Madness 03:27 Special Guest: Dr. VIX on Market Chaos 05:00 Special Guest: The Rock Lobster Joins the Discussion 05:55 Volatility Review: Market Breakdown 07:46 In-Depth Analysis: Historic Market Movements 13:21 Expert Insights: Dr. VIX on Volatility Trends 18:48 Expert Insights: The Rock Lobster on Market Volatility 25:46 Volatility Futures: Current Trends and Predictions 33:56 Remembering Val Kilmer and Top Gun's Iconic Scene 34:27 VIX Land: Current Market Overview 34:51 Tracking VIX Top 10 Indicators 36:23 Russell's Weekly Rundown 36:54 Notable VIX Trades and Strategies 41:13 Weekly VIX Volume and Trends 47:02 Inverse Volatility Products Analysis 55:13 Crystal Ball Predictions and Market Outlook 01:00:48 Closing Remarks and Upcoming Content

In this episode, Mark Longo, along with Mark Sebastian of The Option Pit and Russell Rhoads from the Kelley School of Business - Indiana University, discuss market volatility with a focus on VIX products, the significance of recent trades, and broader market movements. The show delves into the peculiar behavior of VIX options, examining notable trades like the April 20 calls and April 20-30 verticals. Listeners are also introduced to the new VYLD product and its performance. A humorous segment highlights contradictory VIX articles from Market Watch. The program concludes with listener questions and forecasts for the following week. 01:05 Welcome to Volatility Views 01:51 Market Recap and Volatility Insights 02:31 Special Guests and Announcements 05:02 Volatility Review 06:53 Volatility Trading Strategies 10:40 VIX Futures and Market Predictions 16:49 VIX Options Analysis 21:23 Russell's Weekly Rundown 30:56 Audience Poll: April 2030s vs. Straight 20 Twos 31:08 Market Performance and Audience Preferences 32:12 Contract Activity and Strike Chain Analysis 32:57 VIX Options and Trading Strategies 35:36 Inverse Volatility Products: SVIX and VYLD 41:44 Levered Volatility: UUVIX and UVXY 48:49 Volatility Voicemail: Listener Questions 49:45 Market Watch VIX Nonsense 53:26 Crystal Ball Predictions 56:47 Show Wrap-Up and Announcements

In this episode of Volatility Views, host Mark Longo is joined by Russell Rhodes, aka Dr. Vix, and Andrew Giovinazzi, aka The Rock Lobster. They dive into a wide range of topics related to volatility trading. The episode covers the current flat volatility curve, its implications, and the challenges and strategies for trading in such an environment. The team also discusses recent activity and trade ideas in VIX options, including unique trades like a short put stupid. Additionally, they touch on the new entrants in the inverse volatility product space. The episode closes with bold predictions for the upcoming week’s volatility. 01:54 Meet the Hosts 04:21 Volatility Review 05:22 Market Analysis and Insights 09:25 VIX Curve and Trading Strategies 12:07 Challenges in the Current Volatility Market 24:20 Flat VIX Curve Implications 33:59 Analyzing the VIX Super Stupid Trade 35:01 Russell's Weekly Rundown 35:24 Intriguing VIX Weekly Options 36:12 Strange VIX Put Stupid Trade 38:17 VIX Market Activity Recap 46:35 New Inverse VIX Product Launch 54:22 Crystal Ball Predictions

This episode of Volatility Views dives into the current state of the volatility market, with insights from hosts Mark Longo, Mark Sebastian, and Russell Rhodes. The discussion includes the latest developments in volatility products such as VIX futures, VOLI, VVIX, UVIX, SVIX, and UVXY, highlighting notable market activities and trends. The panel discusses the tariffs impact on the markets, and also includes some talk about the hantavirus and the Spice Girls, particularly Posh Spice. The show concludes with the Crystal Ball segment, where the hosts predict future volatility levels next week.

This episode of Volatility Views dives into the current state of the volatility market, with insights from hosts Mark Longo, Mark Sebastian, and Russell Rhodes. The discussion kicks off with the latest developments in VIX futures and options trading, highlighting notable market activities and trends, such as the overwhelming volume of VIX trading and the specifics of some substantial trades. The panel addresses the rise in volatility, characterized by increased daily market movements and backwardation in the VIX futures curve. Special emphasis is placed on volatility strategies and the continued importance of monitoring geopolitical and macroeconomic factors. The episode also delves into related volatility products like S-VIX and U-VIX, offering insights into the challenges and opportunities they present. The show concludes with the Crystal Ball segment, where the hosts predict future volatility levels, providing a comprehensive overview for volatility traders and enthusiasts. 01:05 Welcome to Volatility Views 02:32 Deep Dive into Volatility 02:48 Market Analysis and Guest Introductions 05:56 Volatility Review 11:44 Intraday Market Movements 23:11 VIX Futures and Options Activity 33:39 Managing Risk with Open Interest 34:31 Tuesday's Exit Trade Analysis 36:42 Wednesday's March 12th Options Activity 38:37 Thursday's VIX Trades and Strategies 39:59 VIX Options Volume and and Market Trends 46:01 SVIX and UVIX Market Dynamics 52:05 Volatility ETPs and Trading Strategies 54:52 Crystal Ball Predictions and Market Insights 01:01:46 Conclusion and Upcoming Events

Mark is joined by guest Matt Amberson from ORATS, who discusses recent market activity, including the significant rise in the VIX and its implications. They explore the dynamics of volatility trading and review notable trades, such as a large-scale multi-leg options strategy termed the 'super stupid.' Additionally, Matt introduces ORATS' recent research reports on the impact of macro events on implied volatility. The episode concludes with a preview of next week's volatility prediction segment, the crystal ball. 00:00 Introduction to Options Insider Radio Network 01:04 Welcome to Volatility Views 01:34 Public.com: The Best Platform for Options Trading 02:13 Deep Dive into Volatility 05:00 Market Overview and Recent Trends 13:48 Special Report: Impact of Macro Events on Implied Volatility 34:00 Introducing the New VIX Indicator 34:40 VIX Options Activity Breakdown 36:34 Super Stupid Trades and Their Impact 40:28 Inverse Volatility Products Analysis 51:53 Earnings Volatility Insights 55:50 Crystal Ball Predictions and Wrap-Up

On this episode Mark is joined by:

Andrew Giovinazzi, The Option Pit
Russell Rhoads, Kelley School of Business - Indiana University

They discuss:

The latest in the volatility markets
Not being able to prep too early for the show as volatility can pop right before the start
Volatility dangerously close to the danger zone
Interesting trading activity and developments in VIX, SVIX, UVIX, UVXY, VXX, and VOLI
VIX paper trades
Their Crystal Ball predictions for VIX
And much more...

On this episode Mark is joined by:

Andrew Giovinazzi, The Option Pit
Russell Rhoads, Kelley School of Business - Indiana University
Scott Nations, Nations Indexes

They discuss:

The latest in the volatility markets
Interesting trading activity and developments in VIX, SVIX, UVIX, UVXY, VXX, and VOLI
Nations Indexes new subscription services
Their Crystal Ball predictions for VIX
And much more...

On this episode Mark is joined by:

Russell Rhoads, Kelley School of Business - Indiana University
Mark Sebastian, The Option Pit

They discuss:

The latest in the volatility markets in the US
Interesting trading activity and developments in VIX, SVIX, UVIX, UVXY, VXX, VSTOXX, and VOLI
January options volume numbers from OCC
Their Crystal Ball predictions for VIX
And much more...

Exploring Volatility Views: AI Impact, VIX Updates, and Volatility Strategies

Join us on this episode of Volatility Views as we dive into the latest developments in the world of volatility trading. Host Mark Longo is accompanied by Russell Rhoads and Scott Nations to dissect the major factors impacting the market this week. The discussion includes the implications of the recent Deep Seek kerfuffle on the AI boom, VIX options trading activities, the performance of inverse and leveraged volatility products like S-VIX and UVIX, and an intriguing conversation about the upcoming subscription service for Nations Indexes. Stay tuned for nuanced insights and future volatility predictions!

00:00 Introduction to Options Insider Radio Network

01:10 Welcome to Volatility Views

01:56 Market Update and Trading Week Recap

03:07 Special Guest Introductions

05:08 Volatility Review

08:34 Volatility Trading Insights

16:19 Volatility Surface Analysis

21:35 VIX Options Activity

36:40 Market Downturn Amid Streaming

37:11 Volatility Measures Turn Green

38:04 Inverse Volatility Products Update

39:47 White House Tariff Announcement

40:29 Trading Strategies and Market Analysis

50:38 Volatility Voicemail: Listener Questions

56:04 Crystal Ball Predictions

01:00:05 Show Wrap-Up and Announcements

On this episode Mark is joined by:

Mark Sebastian, The Option Pit
Russell Rhoads, Kelley School of Business - Indiana University
Brian Overby, The Options Playbook

They discuss:

The latest in the volatility markets in the US
Interesting trading activity and developments in VIX, SVIX, UVIX, UVXY and VXX
Whether Russell Rhoads is still doing his "secret" weekend UVIX trade after the 10-1 reverse split
Their Crystal Ball predictions for VIX
And much more...

On this episode Mark is joined by:

Andrew Giovinazzi - The Option Pit

They discuss:

The latest in the volatility markets in the US
Interesting trading activity and developments in VIX, SVIX, UVIX, UVXY and VXX
The wild year that was volatility in 2024
Their Crystal Ball predictions for VIX for next week and for year-end 2025
And much more...

On this episode Mark is joined by:

Russell Rhoads - Indiana University
Jim Carroll - Ballast Rock Private Wealth

They discuss:

The latest in the volatility markets in the US
Interesting trading activity and developments in VIX, SVIX, UVIX, UVXY and VXX
The wild year that was volatility in 2024
What a VIX Mix is
Why the volatility surface is so eerily flat right now
Their Crystal Ball predictions for VIX for next week and for year-end 2025 as well as how predictions worked out for 2024
And much more...

On this episode Mark is joined by:

Andrew Giovinazzi - The Option Pit

They discuss:

The latest in the volatility markets in the US
The international volatility market (VSTOXX)
Interesting trading activity and developments in VSTOXX, VIX, SVIX, UVIX, UVXY and VXX
Options volume numbers for December and for all of 2024
Their Crystal Ball predictions for VIX and VSTOXX
And much more...

Brought to you by Eurex.

On this episode Mark is joined by:

Steve Sosnick, Head Options Strategist - Interactive Brokers

They discuss:

The latest in the volatility markets in the US
What the Cboe skew index being at an all time high means for the volatility market and the SPX going forward
The international volatility market (VSTOXX)
Interesting trading activity and developments in VSTOXX, VIX, SVIX, UVIX, UVXY and VXX
Their Crystal Ball predictions for VIX and VSTOXX
And much more...

Brought to you by Eurex and Public.com

Options are not suitable for all investors and carry significant risk. Option investors can rapidly lose the value of their investment in a short period of time and incur permanent loss by expiration date. Certain complex options strategies carry additional risk. There are additional costs associated with option strategies that call for multiple purchases and sales of options, such as spreads, straddles, among others, as compared with a single option trade.

Prior to buying or selling an option, investors must read and understand the “Characteristics and Risks of Standardized Options”, also known as the options disclosure document (ODD) which can be found at: www.theocc.com/company-information/documents-and-archives/options-disclosure-document

Supporting documentation for any claims will be furnished upon request.

If you are enrolled in our Options Order Flow Rebate Program, The exact rebate will depend on the specifics of each transaction and will be previewed for you prior to submitting each trade. This rebate will be deducted from your cost to place the trade and will be reflected on your trade confirmation. Order flow rebates are not available for non-options transactions. To learn more, see our Fee Schedule, Order Flow Rebate FAQ, and Order Flow Rebate Program Terms & Conditions.

Options can be risky and are not suitable for all investors. See the Characteristics and Risks of Standardized Options to learn more.

All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Open to the Public Investing, Inc., member FINRA & SIPC. See public.com/#disclosures-main for more information.

On this episode Mark is joined by:

Mark Sebastian, The Option Pit
Rich Excell, Derivatives and Trading Academy, Gies College of Business - University of Illinois, Urbana-Champaign

They discuss:

The latest in the volatility markets in the US
The impact on volatility this week due to the Fed announcement
The international volatility market (VSTOXX)
The impact on volatility due to upcoming European elections
Interesting trading activity and developments in VSTOXX, VIX, SVIX, UVIX, UVXY and VXX
Their Crystal Ball predictions for VIX and VSTOXX
And much more...

Brought to you by Eurex and Public.com

Options are not suitable for all investors and carry significant risk. Option investors can rapidly lose the value of their investment in a short period of time and incur permanent loss by expiration date. Certain complex options strategies carry additional risk. There are additional costs associated with option strategies that call for multiple purchases and sales of options, such as spreads, straddles, among others, as compared with a single option trade.

Prior to buying or selling an option, investors must read and understand the “Characteristics and Risks of Standardized Options”, also known as the options disclosure document (ODD) which can be found at: www.theocc.com/company-information/documents-and-archives/options-disclosure-document

Supporting documentation for any claims will be furnished upon request.

If you are enrolled in our Options Order Flow Rebate Program, The exact rebate will depend on the specifics of each transaction and will be previewed for you prior to submitting each trade. This rebate will be deducted from your cost to place the trade and will be reflected on your trade confirmation. Order flow rebates are not available for non-options transactions. To learn more, see our Fee Schedule, Order Flow Rebate FAQ, and Order Flow Rebate Program Terms & Conditions.

Options can be risky and are not suitable for all investors. See the Characteristics and Risks of Standardized Options to learn more.

All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Open to the Public Investing, Inc., member FINRA & SIPC. See public.com/#disclosures-main for more information.

On this episode Mark is joined by:

Andrew Giovinazzi, The Option Pit
Russell Rhoads, Kelley School of Business - Indiana University
Gary Norden, NN2 Capital

They discuss:

The latest in the volatility markets in the US
The international volatility market (VSTOXX)
Interesting trading activity and developments in VSTOXX, V-VSTOXX, VIX, SVIX, UVIX, UVXY and VXX
Their Crystal Ball predictions for VIX and VSTOXX
And much more...

Brought to you by Eurex and Public.com

Options are not suitable for all investors and carry significant risk. Option investors can rapidly lose the value of their investment in a short period of time and incur permanent loss by expiration date. Certain complex options strategies carry additional risk. There are additional costs associated with option strategies that call for multiple purchases and sales of options, such as spreads, straddles, among others, as compared with a single option trade.

Prior to buying or selling an option, investors must read and understand the “Characteristics and Risks of Standardized Options”, also known as the options disclosure document (ODD) which can be found at: www.theocc.com/company-information/documents-and-archives/options-disclosure-document

Supporting documentation for any claims will be furnished upon request.

If you are enrolled in our Options Order Flow Rebate Program, The exact rebate will depend on the specifics of each transaction and will be previewed for you prior to submitting each trade. This rebate will be deducted from your cost to place the trade and will be reflected on your trade confirmation. Order flow rebates are not available for non-options transactions. To learn more, see our Fee Schedule, Order Flow Rebate FAQ, and Order Flow Rebate Program Terms & Conditions.

Options can be risky and are not suitable for all investors. See the Characteristics and Risks of Standardized Options to learn more.

All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Open to the Public Investing, Inc., member FINRA & SIPC. See public.com/#disclosures-main for more information.

On this episode Mark is joined by:

Mark Sebastian, The Option Pit
Russell Rhoads, Kelley School of Business - Indiana University
Matt Amberson, Option Research & Technology Services

They discuss:

The latest in the volatility markets in the US
The international volatility market (VSTOXX)
Interesting trading activity and developments in VSTOXX, VIX, SVIX, UVIX, UVXY and VXX
Options Volume Numbers for November
Their Crystal Ball predictions for VIX and VSTOXX
And much more...

Brought to you by Eurex and Public.com

Options are not suitable for all investors and carry significant risk. Option investors can rapidly lose the value of their investment in a short period of time and incur permanent loss by expiration date. Certain complex options strategies carry additional risk. There are additional costs associated with option strategies that call for multiple purchases and sales of options, such as spreads, straddles, among others, as compared with a single option trade.

Prior to buying or selling an option, investors must read and understand the “Characteristics and Risks of Standardized Options”, also known as the options disclosure document (ODD) which can be found at: www.theocc.com/company-information/documents-and-archives/options-disclosure-document

Supporting documentation for any claims will be furnished upon request.

If you are enrolled in our Options Order Flow Rebate Program, The exact rebate will depend on the specifics of each transaction and will be previewed for you prior to submitting each trade. This rebate will be deducted from your cost to place the trade and will be reflected on your trade confirmation. Order flow rebates are not available for non-options transactions. To learn more, see our Fee Schedule, Order Flow Rebate FAQ, and Order Flow Rebate Program Terms & Conditions.

Options can be risky and are not suitable for all investors. See the Characteristics and Risks of Standardized Options to learn more.

All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Open to the Public Investing, Inc., member FINRA & SIPC. See public.com/#disclosures-main for more information.

On this episode Mark is joined by:

Mark Sebastian, The Option Pit
Russell Rhoads, Kelley School of Business - Indiana University
Noel Smith, Convex Asset Management

They discuss:

The latest in the volatility markets in the US
The international volatility market (VSTOXX)
Interesting trading activity and developments in VSTOXX, VIX, SVIX, UVIX, UVXY and VXX
Volatility skew in SPX and SPY
Is it better to "hedge" using SPX downside or VIX upside right now
Their Crystal Ball predictions for VIX and VSTOXX
and much more...

Brought to you by Eurex and Public.com

Options are not suitable for all investors and carry significant risk. Option investors can rapidly lose the value of their investment in a short period of time and incur permanent loss by expiration date. Certain complex options strategies carry additional risk. There are additional costs associated with option strategies that call for multiple purchases and sales of options, such as spreads, straddles, among others, as compared with a single option trade.

Prior to buying or selling an option, investors must read and understand the “Characteristics and Risks of Standardized Options”, also known as the options disclosure document (ODD) which can be found at: www.theocc.com/company-information/documents-and-archives/options-disclosure-document

Supporting documentation for any claims will be furnished upon request.

If you are enrolled in our Options Order Flow Rebate Program, The exact rebate will depend on the specifics of each transaction and will be previewed for you prior to submitting each trade. This rebate will be deducted from your cost to place the trade and will be reflected on your trade confirmation. Order flow rebates are not available for non-options transactions. To learn more, see our Fee Schedule, Order Flow Rebate FAQ, and Order Flow Rebate Program Terms & Conditions.

Options can be risky and are not suitable for all investors. See the Characteristics and Risks of Standardized Options to learn more.

All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Open to the Public Investing, Inc., member FINRA & SIPC. See public.com/#disclosures-main for more information.

On this episode Mark is joined by:

Andrew Giovinazzi, The Option Pit
Jim Carroll, Ballast Rock Private Wealth

They discuss:

The latest in the volatility markets in the US
How the upcoming Trump presidency could impact volatility
The international volatility market (VSTOXX)
Interesting trading activity and developments in VSTOXX, VIX, SVIX, UVIX, UVXY and VXX
VIX and VIX futures term structure
Their Crystal Ball predictions for VIX and VSTOXX
and much more...

Brought to you by Eurex and Public.com

Options are not suitable for all investors and carry significant risk. Option investors can rapidly lose the value of their investment in a short period of time and incur permanent loss by expiration date. Certain complex options strategies carry additional risk. There are additional costs associated with option strategies that call for multiple purchases and sales of options, such as spreads, straddles, among others, as compared with a single option trade.

Prior to buying or selling an option, investors must read and understand the “Characteristics and Risks of Standardized Options”, also known as the options disclosure document (ODD) which can be found at: www.theocc.com/company-information/documents-and-archives/options-disclosure-document

Supporting documentation for any claims will be furnished upon request.

If you are enrolled in our Options Order Flow Rebate Program, The exact rebate will depend on the specifics of each transaction and will be previewed for you prior to submitting each trade. This rebate will be deducted from your cost to place the trade and will be reflected on your trade confirmation. Order flow rebates are not available for non-options transactions. To learn more, see our Fee Schedule, Order Flow Rebate FAQ, and Order Flow Rebate Program Terms & Conditions.

Options can be risky and are not suitable for all investors. See the Characteristics and Risks of Standardized Options to learn more.

All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Open to the Public Investing, Inc., member FINRA & SIPC. See public.com/#disclosures-main for more information.

On this episode Mark is joined by:

Mark Sebastian, The Option Pit
Russell Rhoads, Kelley School of Business - Indiana University
Zed Francis, Convexitas

They discuss:

The latest in the volatility markets in the US
The international volatility market (VSTOXX) & the surprising spread between VSTOXX and VIX
Interesting trading activity and developments in VSTOXX, VIX, SVIX, UVIX, UVXY and VXX
Volatility in the markets post election and the eerily similarities between 2016 and 2024 VIX term structure
The VIX trade that Russell Rhoads called the smartest weekly trade that he's ever seen
Their Crystal Ball predictions for VIX and VSTOXX
and much more...

Brought to you by Eurex and Public.com

Options are not suitable for all investors and carry significant risk. Option investors can rapidly lose the value of their investment in a short period of time and incur permanent loss by expiration date. Certain complex options strategies carry additional risk. There are additional costs associated with option strategies that call for multiple purchases and sales of options, such as spreads, straddles, among others, as compared with a single option trade.

Prior to buying or selling an option, investors must read and understand the “Characteristics and Risks of Standardized Options”, also known as the options disclosure document (ODD) which can be found at: www.theocc.com/company-information/documents-and-archives/options-disclosure-document

Supporting documentation for any claims will be furnished upon request.

If you are enrolled in our Options Order Flow Rebate Program, The exact rebate will depend on the specifics of each transaction and will be previewed for you prior to submitting each trade. This rebate will be deducted from your cost to place the trade and will be reflected on your trade confirmation. Order flow rebates are not available for non-options transactions. To learn more, see our Fee Schedule, Order Flow Rebate FAQ, and Order Flow Rebate Program Terms & Conditions.

Options can be risky and are not suitable for all investors. See the Characteristics and Risks of Standardized Options to learn more.

All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Open to the Public Investing, Inc., member FINRA & SIPC. See public.com/#disclosures-main for more information.

On this episode Mark is joined by:

Mark Sebastian, Option Pit
Russell Rhoads, Kelley School of Business - Indiana University
Matt Koren, Eurex Group

They discuss:

The latest in the volatility markets in the US
The international volatility market (VSTOXX)
Interesting trading activity and developments in VSTOXX, VIX, SVIX, UVIX, UVXY and VXX
Whether 0DTE options are cannibalizing the volume leading into the election
Modern vs. historical term structure around elections
Whether SVIX will be stuck in no man's land until after the election
Their Crystal Ball predictions for VIX and VSTOXX
and much more...

Brought to you by Eurex and Public.com

Options are not suitable for all investors and carry significant risk. Option investors can rapidly lose the value of their investment in a short period of time and incur permanent loss by expiration date. Certain complex options strategies carry additional risk. There are additional costs associated with option strategies that call for multiple purchases and sales of options, such as spreads, straddles, among others, as compared with a single option trade.

Prior to buying or selling an option, investors must read and understand the “Characteristics and Risks of Standardized Options”, also known as the options disclosure document (ODD) which can be found at: www.theocc.com/company-information/documents-and-archives/options-disclosure-document

Supporting documentation for any claims will be furnished upon request.

If you are enrolled in our Options Order Flow Rebate Program, The exact rebate will depend on the specifics of each transaction and will be previewed for you prior to submitting each trade. This rebate will be deducted from your cost to place the trade and will be reflected on your trade confirmation. Order flow rebates are not available for non-options transactions. To learn more, see our Fee Schedule, Order Flow Rebate FAQ, and Order Flow Rebate Program Terms & Conditions.

Options can be risky and are not suitable for all investors. See the Characteristics and Risks of Standardized Options to learn more.

All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Open to the Public Investing, Inc., member FINRA & SIPC. See public.com/#disclosures-main for more information.

On this episode Mark is joined by:

Mark Sebastian, Option Pit
Russell Rhoads, Kelley School of Business - Indiana University
Alec Clements, PricingMonkey

They discuss:

The latest in the volatility markets in the US
The international volatility market (VSTOXX)
Interesting trading activity and developments in VSTOXX, VIX, SVIX, UVIX, UVXY and VXX
The Risk Management Conference
Eurex Virtual Focus Day: Trading European Volatility Markets
Their Crystal Ball predictions for VIX and VSTOXX
and much more...

Brought to you by Eurex and Public.com

Options are not suitable for all investors and carry significant risk. Option investors can rapidly lose the value of their investment in a short period of time and incur permanent loss by expiration date. Certain complex options strategies carry additional risk. There are additional costs associated with option strategies that call for multiple purchases and sales of options, such as spreads, straddles, among others, as compared with a single option trade.

Prior to buying or selling an option, investors must read and understand the “Characteristics and Risks of Standardized Options”, also known as the options disclosure document (ODD) which can be found at: www.theocc.com/company-information/documents-and-archives/options-disclosure-document

Supporting documentation for any claims will be furnished upon request.

If you are enrolled in our Options Order Flow Rebate Program, The exact rebate will depend on the specifics of each transaction and will be previewed for you prior to submitting each trade. This rebate will be deducted from your cost to place the trade and will be reflected on your trade confirmation. Order flow rebates are not available for non-options transactions. To learn more, see our Fee Schedule, Order Flow Rebate FAQ, and Order Flow Rebate Program Terms & Conditions.

Options can be risky and are not suitable for all investors. See the Characteristics and Risks of Standardized Options to learn more.

All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Open to the Public Investing, Inc., member FINRA & SIPC. See public.com/#disclosures-main for more information.

On this episode Mark is joined by:

Mark Sebastian, Option Pit
Russell Rhoads, Kelley School of Business - Indiana University
Michael Green, Simplify Asset Management

They discuss:

The latest in the volatility markets in the US
The international volatility market (VSTOXX)
Interesting trading activity and developments in VSTOXX, VIX, SVIX, UVIX, UVXY and VXX
Election volatility in the 0dte era
Their Crystal Ball predictions for VIX and VSTOXX
and much more...

Brought to you by Eurex and Public.com

Options are not suitable for all investors and carry significant risk. Option investors can rapidly lose the value of their investment in a short period of time and incur permanent loss by expiration date. Certain complex options strategies carry additional risk. There are additional costs associated with option strategies that call for multiple purchases and sales of options, such as spreads, straddles, among others, as compared with a single option trade.

Prior to buying or selling an option, investors must read and understand the “Characteristics and Risks of Standardized Options”, also known as the options disclosure document (ODD) which can be found at: www.theocc.com/company-information/documents-and-archives/options-disclosure-document

Supporting documentation for any claims will be furnished upon request.

If you are enrolled in our Options Order Flow Rebate Program, The exact rebate will depend on the specifics of each transaction and will be previewed for you prior to submitting each trade. This rebate will be deducted from your cost to place the trade and will be reflected on your trade confirmation. Order flow rebates are not available for non-options transactions. To learn more, see our Fee Schedule, Order Flow Rebate FAQ, and Order Flow Rebate Program Terms & Conditions.

Options can be risky and are not suitable for all investors. See the Characteristics and Risks of Standardized Options to learn more.

All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Open to the Public Investing, Inc., member FINRA & SIPC. See public.com/#disclosures-main for more information.

On this episode Mark is joined by:

Mark Sebastian, Option Pit
Russell Rhoads, Kelley School of Business - Indiana University

They discuss:

The latest in the volatility markets in the US
The international volatility market (VSTOXX)
The December Divot in VSTOXX futures
A massive put 1x2 in VSTOXX options
Interesting trading activity and developments in VSTOXX, VIX, SVIX, UVIX, UVXY and VXX
A VIX trade that made Russell Rhoads angry
Virtual Focus Day - Trading European Volatility Markets: Daily Options & VSTOXX 2024 - https://volatility.focusday.eurex.com/
Their Crystal Ball predictions for VIX
and much more...

Brought to you by Eurex and Public.com

Options are not suitable for all investors and carry significant risk. Option investors can rapidly lose the value of their investment in a short period of time and incur permanent loss by expiration date. Certain complex options strategies carry additional risk. There are additional costs associated with option strategies that call for multiple purchases and sales of options, such as spreads, straddles, among others, as compared with a single option trade.

Prior to buying or selling an option, investors must read and understand the “Characteristics and Risks of Standardized Options”, also known as the options disclosure document (ODD) which can be found at: www.theocc.com/company-information/documents-and-archives/options-disclosure-document

Supporting documentation for any claims will be furnished upon request.

If you are enrolled in our Options Order Flow Rebate Program, The exact rebate will depend on the specifics of each transaction and will be previewed for you prior to submitting each trade. This rebate will be deducted from your cost to place the trade and will be reflected on your trade confirmation. Order flow rebates are not available for non-options transactions. To learn more, see our Fee Schedule, Order Flow Rebate FAQ, and Order Flow Rebate Program Terms & Conditions.

Options can be risky and are not suitable for all investors. See the Characteristics and Risks of Standardized Options to learn more.

All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Open to the Public Investing, Inc., member FINRA & SIPC. See public.com/#disclosures-main for more information.

On this episode Mark is joined by:

Mark Sebastian, Option Pit
Russell Rhoads, Kelley School of Business

They discuss:

The latest in the volatility markets in the US
The international volatility market (VSTOXX)
Interesting trading activity and developments in VSTOXX, VIX, SVIX, UVIX, UVXY and VXX
Virtual Focus Day - Trading European Volatility Markets: Daily Options & VSTOXX 2024 - https://volatility.focusday.eurex.com/
Their Crystal Ball predictions for VIX
and much more...

On this episode of Volatility Views, we break down the volatility products this week including VIX, VXX, VVIX, UVXY, SVIX, UVIX. We also discuss volatility around presidential elections, what's going on with the VIX futures curve, and much more.

Plus, we predict where VIX will be next week in our popular crystal ball segment.

With your hosts,

Mark Longo from The Options Insider Media Group
Mark Sebastian from The Option Pit
Russell Rhoads from the Kelley School of Business at Indiana University

On this episode of Volatility Views, we break down the volatility products this week including VIX, VXX, VVIX, UVXY, SVIX, UVIX. We also discuss the Fed rate cut this week and much more.

Plus, we predict where VIX will be next week in our popular crystal ball segment.

With your hosts,

Mark Longo from The Options Insider Media Group
Mark Sebastian from The Option Pit
Russell Rhoads from the Kelley School of Business at Indiana University

On this episode of Volatility Views, we break down the volatility products this week including VIX, VXX, VVIX, UVXY, SVIX, UVIX. We also discuss election volatility, whether it is time for another broken winged butterfly in VIX, what will happen to the markets after the Fed meeting next week, and much more.

Plus, we predict where VIX will be next week in our popular crystal ball segment.

With your hosts,

Mark Longo from The Options Insider Media Group
Andrew Giovinazzi from The Option Pit
Russell Rhoads from the Kelley School of Business at Indiana University

On this episode of Volatility Views, we break down the volatility products this week including VIX, VXX, VVIX, UVXY, SVIX, UVIX. We also discuss what's the best way to trade VIX butterflies and how to accurately evaluate historic volatility vs. implied in an ETF following a big change in their holding.

Plus, we predict where VIX will be next week in our popular crystal ball segment.

With your hosts,

Mark Longo from The Options Insider Media Group
Andrew Giovinazzi from The Option Pit
Russell Rhoads from the Kelley School of Business at Indiana University

On this episode of Volatility Views, we break down the volatility products this week including VIX, VXX, VVIX, UVXY, SVIX, UVIX. We also discuss Brian's surprise modified butterfly VIX trade.

Plus, we predict where VIX will be next week in our popular crystal ball segment.

With your hosts,

Mark Longo from The Options Insider Media Group
Andrew Giovinazzi from The Option Pit
Russell Rhoads from the Kelley School of Business at Indiana University
Brian Overby from The Options Playbook

On this episode of Volatility Views, we break down the volatility products this week including VIX, VXX, VVIX, UVXY, SVIX, UVIX.

Plus, we predict where VIX will be next week in our popular crystal ball segment.

With your hosts,

Mark Longo from The Options Insider Media Group
Mark Sebastian from The Option Pit
Russell Rhoads from the Kelley School of Business at Indiana University

On this episode of Volatility Views, we break down the volatility products in both the domestic and international markets this week including VIX, VXX, VVIX, UVXY, SVIX, UVIX.

Analyzing the weekly VIX options activity
Discussing the flight from 0DTE options in SPX during the recent selloff. What impact did 0DTE have on the recent volatility?
Believing UVIX likely to suffer if Sept remains so low compared to Oct when Sept takes over as the front month.

Plus, we predict where VIX will be next week in our popular crystal ball segment.

With your hosts,

Mark Longo from The Options Insider Media Group
Mark Sebastian from The Option Pit
Russell Rhoads from the Kelley School of Business at Indiana University
Noel Smith from Convex Asset Management & Tanius Technology

On this episode Mark is joined by:

Mark Sebastian, Option Pit
Russell Rhoads, Kelley School of Business

They discuss:

The latest in the volatility markets in the US
The madness of VIX cash this week hitting 65
SVIX using VIX calls to save their bacon during the massive volatility event this week
Interesting trading activity and developments in VIX, SVIX, UVIX, UVXY and VXX
Whether the massive volatility event this week shook up the top positions in VIX options
Their Crystal Ball predictions for VIX
and much more...

On this episode Mark is joined by:

Andrew Giovinazzi, Option Pit
Russell Rhoads, Kelley School of Business

They discuss:

What's going on in these crazy volatile markets
Interesting trading activity and developments in VIX, SVIX, UVIX, UVXY and VXX
Is it a good time for butterflies in VIX? Calendars?
Their Crystal Ball predictions for VIX
and much more...

On this episode Mark is joined by:

Andrew Giovinazzi, Option Pit
Russell Rhoads, Kelley School of Business

They discuss:

The latest in the volatility markets in the US
The international volatility market (VSTOXX)
Interesting trading activity and developments in VSTOXX, VIX, SVIX, UVIX, UVXY and VXX
Russell's UVIX weekend trade
Their Crystal Ball predictions for VIX and VSTOXX
and much more...

On this episode Mark is joined by:

Andrew Giovinazzi, Option Pit
Russell Rhoads, Kelley School of Business
Eurex Hot Seat: Stefan Schlamp, Deutsche Borse

They discuss:

Election volatility in the US
The international volatility market (VSTOXX)
Interesting trading activity and developments in VSTOXX, VIX, SVIX, UVIX, UVXY and VXX
HFT in the market and recent trends
Russell's UVIX weekend trade
Their Crystal Ball predictions for VIX and VSTOXX
and much more...

On this episode Mark is joined by:

Mark Sebastian, The Option Pit
Russell Rhoads, Kelley School of Business - Indiana University

They discuss:

Small cap volatility this week
The international volatility market (VSTOXX)
Interesting trading activity and developments in VSTOXX, VIX, SVIX, UVIX, UVXY and VXX
Their Crystal Ball predictions for VIX and VSTOXX
and much more...

On this episode Mark is joined by:

Mark Sebastian, Option Pit
Russell Rhoads, Kelley School of Business
Eurex Hot Seat: Mike Riley, Eurex

They discuss:

Election volatility in the US and over seas
The international volatility market (VSTOXX)
Interesting trading activity and developments in VSTOXX, VIX, SVIX, UVIX, UVXY and VXX
Their Crystal Ball predictions for VIX and VSTOXX
and much more...

On this episode Mark is joined by:

Mark Sebastian, Option Pit
Russell Rhoads, Kelley School of Business
Eurex Hot Seat: Mike Green, Simplify Asset Management

They discuss:

NVDA setting new records again
The international volatility market (VSTOXX)
0dte SPX options dominating the information flow over VIX
Some surprising facts about how to trade UVXY around weekends
Interesting trading activity and developments in VSTOXX, VIX, SVIX, UVIX, UVXY and VXX
Will volatility be impacted by the presidential debate next week
Their Crystal Ball predictions for VIX and VSTOXX
and much more...

On this episode Mark is joined by:

Mark Sebastian, Option Pit
Russell Rhoads, Kelley School of Business
Eurex Hot Seat: Rich Excell, Derivatives and Trading Academy at the University of Illinois.

They discuss:

The impact of the Fed and CPI on volatility this week
What the heck is going on in the international volatility market?
The chasm between VIX and VSTOXX
Interesting trading activity and developments in VIX, SVIX, UVIX, UVXY and VXX.
Their Crystal Ball predictions for VIX and VSTOXX
and much more...

On this episode of Volatility Views, we break down the volatility products in both the domestic and international markets this week including VSTOXX, VIX, VXX, VVIX, UVXY, SVIX, UVIX.

Analyzing the weekly VIX options activity - Paper traded 100,000 VIX Dec 42.5 Calls for $.53 this week. Are you a buyer or a seller at that price?
Looking at $GME ATM implied volatility in 2024
Discussing VSTOXX trades this week

Plus, we predict where VSTOXX and VIX will be next week in our popular crystal ball segment.

With your hosts,

Mark Longo from The Options Insider Media Group
Mark Sebastian from The Option Pit
Russell Rhoads from the Kelley School of Business at Indiana University
Noel Smith from Convex Asset Management & Tanius Technology

Brought to you by Eurex

On this episode of Volatility Views, we break down the volatility products in both the domestic and international markets this week including VSTOXX, VIX, VXX, VVIX, UVXY, SVIX, UVIX.

Analyzing the weekly VIX options activity - Continuing to see bullish VIX options trades expiring on June 5th
Discussing how to trade VSTOXX domestically - V2TX on IB's platform
Explaining where to find VSTOXX historical data

Plus, we predict where VSTOXX and VIX will be next week in our popular crystal ball segment.

With your hosts,

Mark Longo from The Options Insider Media Group
Mark Sebastian from The Option Pit
Russell Rhoads from the Kelley School of Business at Indiana University
Steve Sosnick from Interactive Brokers

Brought to you by Eurex

On this episode of Volatility Views, we break down the volatility products in both the domestic and international markets this week including VSTOXX, VIX, VXX, VVIX, UVXY, SVIX, UVIX.

Was NVDA's earnings announcement this week our "last good news event?"
This volatility curve looks like this is going to be the summer of love.
We've seen a ton of buying paper heading into the long holiday weekend. Is someone looking for a volatility spike over the weekend and into next week?
Talking about some interesting risk-reversal activity in VSTOXX options

Plus, we predict where VSTOXX and VIX will be next week in our popular crystal ball segment.

With your hosts,

Mark Longo from The Options Insider Media Group
Mark Sebastian from The Option Pit
Russell Rhoads from the Kelley School of Business at Indiana University
Zed Francis from Convexitas

Brought to you by Eurex

On this episode of Volatility Views, we break down the volatility products in both the domestic and international markets this week including VSTOXX, VIX, VIX, VXX, VVIX, UVXY, SVIX, UVIX.

Will NVDA earnings announcement next week impact volatility?
Not a good time to own VIX calls right now
Is there seasonality to VVIX with regards to weeks to expiration?
Analyzing the trends in VSTOXX vs. VIX
Are you a buyer or seller of the July 11 VIX puts trading for $.05 today

Plus, we predict where VSTOXX and VIX will be next week in our popular crystal ball segment.

With your hosts,

Mark Longo from The Options Insider Media Group
Andrew Giovinazzi from The Option Pit
Russell Rhoads from the Kelley School of Business at Indiana University

Brought to you by Eurex

On this episode of Volatility Views, we break down the volatility products in both the domestic and international markets this week including VSTOXX, VIX, VIX, VXX, VVIX, UVXY, SVIX, UVIX.

Vol of vol- aka VVIX -is hitting some rarefied territory right now. What does this mean for the volatility market going forward?
Has Russell Rhoads uncovered the ultra-rare triple stupid trade in VIX options this week?
How is Russell Rhoads' VIX vs. VSTOXX trade working out? Is it time for him to flip the spread?
How is the election creating opportunities with October and November IV being bid? Will be particularly interesting if RV falls over the summer months.
This year's US election could have more impact on Europe and European equities (and therefore VSTOXX) than previous ones due to the implications for Ukraine funding.

Plus, we predict where VSTOXX and VIX will be next week in our popular crystal ball segment.

With your hosts,

Mark Longo from The Options Insider Media Group
Andrew Giovinazzi from The Option Pit
Russell Rhoads from the Kelley School of Business at Indiana University
Gary Norden from NN2 Capital

Brought to you by Eurex

On this episode of Volatility Views, we break down the volatility products in both the domestic and international markets this week including VSTOXX, VIX, VIX, VXX, VVIX, UVXY, SVIX, UVIX.

Debating if we have a 0dte put option in the market right now that is muting downside movement
Are we seeing surprise upside call sellers in VSTOXX? Breaking down the surprising action

Plus, we predict where VSTOXX and VIX will be next week in our popular crystal ball segment.

With your hosts,

Mark Longo from The Options Insider Media Group
Andrew Giovinazzi from The Option Pit
Russell Rhoads from the Kelley School of Business at Indiana University
Sophie Granchi from Eurex

Brought to you by Eurex

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT CO-HOST: RUSSELL RHOADS, KELLEY SCHOOL OF BUSINESS - INDIANA UNIVERSITY EUREX HOT SEAT: MATT KOREN, EUREX

BREAKING DOWN VOLATILITY PRODUCTS IN THE DOMESTIC MARKETS THIS WEEK: VIX, VXX, VVIX, UVXY, SVIX, UVIX
BREAKING DOWN VOLATILITY IN THE INTERNATIONAL MARKETS THIS WEEK: VSTOXX
TALKING VIX VS. VSTOXX
THE POPULAR CRYSTAL BALL - WHERE WILL VIX AND VSTOXX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT GUEST HOST: RUSSELL RHOADS, KELLEY SCHOOL OF BUSINESS - INDIANA UNIVERSITY

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VXX, VVIX, UVXY, SVIX, UVIX
DEBATING THE CONTROVERSIAL TOPIC OF HOW YOU DEFINE BACKWARDATION IN VIX FUTURES
THE REVERSE SPLIT HASN'T LURED RUSSELL BACK TO THE DARK SIDE OF UVXY
THE POPULAR CRYSTAL BALL - WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT GUEST HOST: MICHAEL LISTMAN, DORGEOLIS CAPITAL

TALKING ALL THINGS UVXY INCLUDING THE REVERSE SPLIT DID SOMEONE ASK FOR A UVXY VS. UVIX DEATHMATCH DID COVID "BREAK" UVXY
BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VXX, VVIX, UVXY, SVIX, UVIX
THE POPULAR CRYSTAL BALL - WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT GUEST HOST: RUSSELL RHOADS, KELLEY SCHOOL OF BUSINESS - INDIANA UNIVERSITY

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VXX, VVIX, UVXY, SVIX, UVIX
DEBATING THE BAFFLING RALLY ON THE HEELS OF TODAY'S JOBS NUMBER AND THE MYSTIFYING VOLATILITY IMPACT
RUSSELL'S WEEKLY RUNDOWN
MAY LOOKING CHEAP RIGHT NOW ON THE VOLATILITY SURFACE
WAS 50 CENT BACK IN VIX OPTIONS THIS WEEK
IS CBOE LAUNCHING PHYSICALLY-SETTLED VIX OPTIONS?
THE POPULAR CRYSTAL BALL - WHERE WILL VIX BE NEXT WEEK

Join us for a Volatility Views Murder Mystery Special as we attempt to uncover....what is killing volatility? Are covered call funds to blame and can they lead to Volmageddon 2.0? Join us as we debate, analyze and discuss this topic with a variety of special guests including:

Henry Schwartz, Vice President, Global Head of Client Engagement, Data & Access Solutions at Cboe Global Markets
Matt Amberson, Owner, Option Research & Technology Services
Andrew Giovinazzi, Chief Options Strategist at Option Pit LLC.
Dan Passarelli, President at Market Taker Mentoring, Inc.
Mike Tosaw, Financial Advisor at St. Charles Wealth Management
Nick Griebenow, Portfolio Manager at Shelton Capital Management

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT GUEST HOST: JIM CARROLL, BALLAST ROCK PRIVATE WEALTH

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VXX, VVIX, UVXY, SVIX, UVIX
ARE OPTION INCOME FUNDS SUPPRESSING VOLATILITY
VIX BREAKS A TREND
WHICH GOOFBALL IS PILING INTO THE VIX MID TERM FUTURES
WHAT'S THE POINT OF THE UVXY REVERSE SPLIT
THE POPULAR CRYSTAL BALL - WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT GUEST HOST: ROB D'ARCO, RIVAL SYSTEMS

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VXX, VVIX, UVXY, SVIX, UVIX
DISCUSSING A MASSIVE CALENDAR SPREAD IN VIX OPTIONS
HOW THE 0DTE EXPLOSION IN SPX IS IMPACTING THE VOLATILITY MARKET AS WELL AS THE MARKET MAKERS AND PROP SHOPS WHO ARE TRADING THESE PRODUCTS
THE POPULAR CRYSTAL BALL - WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT GUEST HOSTS: MIKE AND MATT THOMPSON, THOMPSON CAPITAL MANAGEMENT

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VXX, VVIX, UVXY, SVIX, UVIX
DISCUSSING REALIZED VOL OUTPACING IMPLIED VOL
THE IMPACT SPX 0DTE HAS HAD ON THE VIX
THE MYSTERIES OF THE VOLATILITY SURFACE
THE POPULAR CRYSTAL BALL - WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP GUEST CO-HOST: SCOTT BAUER, PROSPER TRADING ACADEMY

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VXX, VVIX, UVXY, SVIX, UVIX
ARE WE BACK TO THE MEME STOCK SKEW LEVELS IN THE MARKET RIGHT NOW
WHAT'S THE NEXT BIG THAT IS DRIVING YOUR TRADING
HOW DO YOU USE LEAPS IN YOUR TRADING
THE POPULAR CRYSTAL BALL - WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT GUEST HOST: RUSSELL RHOADS, KELLEY SCHOOL OF BUSINESS - INDIANA UNIVERSITY

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VXX, VVIX, UVXY, SVIX, UVIX
WHAT DOES THE DESTRUCTION OF PANW THIS WEEK MEAN FOR THE FUTURE OF NVDA
DISCUSSING THE UPCOMING EUREX GROUP DERIVATIVES FORUM FRANKFURT
RUSSELL'S WEEKLY RUNDOWN - TODAY'S NUMBER IS 14!
IV WAS HIGHER FOR OTM CALLS THAN OTM PUTS FOR MARKETS THIS WEEK
THE POPULAR CRYSTAL BALL - WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT GUEST HOST: RICH EXCELL, GIES COLLEGE OF BUSINESS - UNIVERSITY OF ILLINOIS

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VXX, VVIX, UVXY, SVIX, UVIX
WHAT'S GOING TO WIN THE VOL BATTLE TODAY? THE LONG HOLIDAY WEEKEND OR TODAY'S SPICY PPI NUMBER?
THE POPULAR CRYSTAL BALL - WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT GUEST HOST: STEVE SOSNICK, INTERACTIVE BROKERS

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VXX, VVIX, UVXY, SVIX, UVIX
MARKET MANIA LIKE 1999
VIX PERFORMANCE DURING PRESIDENTIAL ELECTION CYCLES & THE OUTLIER IMPACTS OF 2008/2020
THE POPULAR CRYSTAL BALL - WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT GUEST HOST: NOEL SMITH, CONVEX ASSET MANAGEMENT & TANIUS TECHNOLOGY

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VXX, VVIX, UVXY, SVIX, UVIX
VOL'S RESPONSE TO THE FED
FLUSHING THE VOLATILITY TOILET
THE 0DTE DEBATE
HOW EARNINGS SEASON IMPACTS DISPERSION TRADERS
IS IT THE GOLDEN AGE FOR DISPERSION
WHAT IS THE NEW DSPX INDEX AND DOES IT EVEN MATTER
THE POPULAR CRYSTAL BALL - WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT GUEST HOST: SCOTT NATIONS, NATIONS INDEXES

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VXX, VVIX, UVXY, SVIX, UVIX, VOLI
VIX FUTURES CURVE SHOCKINGLY DEPRESSED RIGHT NOW
SVIX TEARING IT UP THIS YEAR AFTER CONCERN ABOUT IT'S RETURN 2 YEARS AGO
DISCUSSING INVERSE VOLATILITY PRODUCTS
WHAT IS YOUR PREFERRED WAY TO TRADE BROAD MARKET VOLATILITY
THE POPULAR CRYSTAL BALL - WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT GUEST HOST: JIM CARROLL, BALLAST ROCK PRIVATE WEALTH

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VXX, VVIX, UVXY, SVIX, UVIX
WAS 2023 THE YEAR WITHOUT FEAR?
VIX VS. VOLI
DEBATING THE VIX FEB 17 CALLS AGAIN
IS IT BETTER OR WORSE FOR SVIX TO ADD VIX OPTIONS TO ITS HOLDINGS
THE POPULAR CRYSTAL BALL - WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VXX, VVIX, UVXY, SVIX, UVIX
DISCUSSING THE FED AND RATE CUTS IN 2024
DOES THE 3 DAY MARKET HOLIDAY IMPACT OPTIONS
CBOE'S RETURN TO CRYPTO WITH THE LAUNCH OF BITCOIN AND ETHER FUTURES TODAY
IS 50 CENT BACK IN VIX
THE POPULAR CRYSTAL BALL - WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT GUEST HOST: RUSSELL RHOADS, KELLEY SCHOOL OF BUSINESS - INDIANA UNIVERSITY

LOOKING BACK AT VOLATILITY IN 2023
TALKING ANNUAL VIX HIGH/LOW RANGES
BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VXX, VVIX, UVXY, SVIX, UVIX
VIX FUTURES VOLUME NUMBERS FOR DECEMBER 2023
THE POPULAR CRYSTAL BALL - WHERE WILL VIX BE NEXT WEEK

Join Mark as he crunches the numbers to see who, if anyone, won the 2023 Vol Prize. He also peers into the future to see what you are predicting for the volatility market in 2024.

Join Mark as he crunches the numbers to see who, if anyone, won the 2023 Vol Prize. He also peers into the future to see what you are predicting for the volatility market in 2024.

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT GUEST HOST: MATT AMBERSON, ORATS

VOLATILITY REVIEW FOR THE YEAR
LOOKING BACK AT EARNINGS VOLATILITY FOR 2023
BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VXX, VVIX, UVXY, SVIX, UVIX
REVIEWING THE RESULTS OF THE VOLATILITY VIEWS POLLS DURING 2023
THE POPULAR CRYSTAL BALL - WHERE WILL VIX BE NEXT WEEK AND AT THE END OF 2024

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT GUEST HOST: RUSSELL RHOADS, KELLEY SCHOOL OF BUSINESS - INDIANA UNIVERSITY

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VXX, VVIX, UVXY, SVIX, UVIX
THE POPULAR CRYSTAL BALL - WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT GUEST HOST: GREG MAGADINI, AMBERDATA

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VXX, VVIX, UVXY, SVIX, UVIX
THE SVIX DEBATE CONTINUES
THE POPULAR CRYSTAL BALL - WHERE WILL VIX BE NEXT WEEK

On this episode Mark, The Rock Lobster and Russell Rhoads break down all of the action in the volatility market. Warning - one or more of them might be hopped up on Nyquil! Hilarity ensues. Enjoy!

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT GUEST HOST: JIM CARROLL, BALLAST ROCK PRIVATE WEALTH

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VXX, VVIX, UVXY, SVIX, UVIX
HOW GREAT WOULD IT HAVE BEEN TO HAVE LISTED OPTIONS ON RVX THIS WEEK TO CAPTURE ALL OF THE VOLATILITY IN THE RUSSELL 2000
WOULD YOU RATHER BUY OR SELL THE JAN 27 CALLS IN VIX FOR $.70
UNPACKING ALL THE DRAMA SURROUNDING SVIX
THE UVIX VS. UVXY DEBATE CONTINUES
IS THE PATTERN DAY TRADING RULE A NECESSARY PROTECTION FOR RETAIL TRADERS OR AN OUTDATED CONCEPT
THE POPULAR CRYSTAL BALL - WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT GUEST HOST: RUSSELL RHOADS, KELLEY SCHOOL OF BUSINESS, INDIANA UNIVERSITY

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VOLQ, VXX, VVIX, UVXY, SVIX, UVIX
DISCUSSING THE UPCOMING CHANGE TO SVIX TO INCLUDE VIX PUTS IN ADDITION TO FUTURES
COULD THERE BE A DECEMBER SURPRISE IN VOLATILITY
DO YOU STILL TRADE UVXY WITH UVIX IN THE MARKET
RUSSELL'S WEEKLY RUNDOWN
WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT GUEST HOST: SCOTT NATIONS, NATIONS INDEXES

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VXX, VVIX, UVXY, SVIX, UVIX
COULD THE MARKETS BE MORE OR LESS BACK TO NORMAL
THE CRYSTAL BALL SEGMENT: WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT GUEST HOST: KRIS SIDIAL, THE AMBRUS GROUP

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VOLQ, VXX, VVIX, UVXY, SVIX, UVIX
DOES SKEW REALLY GIVE YOU THE BEST MEASURE OF TAILRISK?
ARE THE VIX FUTURES FLASHING A BIG WARNING SIGNAL TO THE MARKET RIGHT NOW?
THE MYSTERY BUYER BEHIND THOSE "CRAZY" SEPTEMBER 35 CALLS IN SVIX
THE CRYSTAL BALL SEGMENT: WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT GUEST HOST: RICH EXCELL, GIES COLLEGE OF BUSINESS, UNIVERSITY OF ILLINOIS

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VOLQ, VXX, VVIX, UVXY, SVIX, UVIX
TAKING A DEEP DIVE INTO ALL OF THE SURPRISES, KEY PRESENTATIONS AND TAKEAWAYS FROM CBOE RMC23
THE CRYSTAL BALL SEGMENT: WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT GUEST HOST: RUSSELL RHOADS, KELLEY SCHOOL OF BUSINESS, INDIANA UNIVERSITY

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VOLQ, VXX, VVIX, UVXY, SVIX, UVIX
LOOKING AT HOW VOLATILITY HAS BEEN IMPACTED BY THE SITUATION IN THE MIDDLE EAST
WHAT IS YOUR PREFERRED VOLATILITY ETP
TALKING ABOUT ONE OF THE BIG VOL STORIES THIS WEEK - THE UVIX REVERSE SPLIT
RUSSELL'S WEEKLY RUNDOWN
WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VXX, VVIX, UVXY, SVIX, UVIX
LOOKING AT THE INSANE SEASONALITY OF VIX - ROCKTOBER
SEPTEMBER OPTIONS VOLUME NUMBERS FROM OCC
WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VOLQ, VXX, VVIX, UVXY, SVIX, UVIX
THE FED SHUTDOWN IMPACT ON VOLATILITY IN THE MARKETS
DISCUSSING THE UVXY REVERSE SPLIT
WHERE ARE YOU COMFORTABLE BUYING INTO OR BUYING MORE SPX RIGHT NOW
WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP

WITH A BRIEF APPEARANCE FROM CO-HOSTS, ANDREW GIOVINAZZI AND MARK SEBASTIAN FROM THE OPTION PIT.

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VOLQ, VXX, VVIX, UVXY, SVIX, UVIX
ANNOUNCED UPCOMING UVIX REVERSE SHARE SPLIT
WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT GUEST HOST: RUSSELL RHOADS, KELLEY SCHOOL OF BUSINESS, INDIANA UNIVERSITY

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VOLQ, VXX, VVIX, UVXY, SVIX, UVIX
DISCUSSING THE LATEST DEVELOPMENTS FROM THE GLOBAL VOLATILITY SUMMIT
HOW IS QUAD WITCHING IMPACTING VOLATILITY AND THE MARKETS
RUSSELL'S WEEKLY RUNDOWN
WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT GUEST HOST: BRIAN OVERBY - AUTHOR OF THE OPTIONS PLAYBOOK

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VOLQ, VXX, VVIX, UVXY, SVIX, UVIX
EARNINGS VOLATILITY IN PLAY, GME, ORCL, ADBE DG
LISTENER TESTING A LEAP PUT AND MANAGING W/ A FRONT EXPIRATION SHORT PUT IN UVXY
WILL WE SEE 0DTE VIX OPTIONS SOON
ANY GOOD CRYPTO VOL PRODUCTS
WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VOLQ, VXX, VVIX, UVXY, SVIX, UVIX
THE SLOPE OF THE VIX FUTURES TERM STRUCTURE IS AS STEEP RIGHT NOW AS IT'S BEEN ALL YEAR
WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
GUEST HOST: RUSSELL RHOADS, KELLEY SCHOOL OF BUSINESS, INDIANA UNIVERSITY

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VOLQ, VXX, VVIX, UVXY, SVIX, UVIX
TALKING THE FED AND JACKSON HOLE
RUSSELL'S WEEKLY RUNDOWN
WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VOLQ, VXX, VVIX, UVXY, SVIX, UVIX
FAVORITE COLOR LIGHTSABER
IS VOLATILITY MOVING TO THE DARK SIDE
WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT
GUEST HOST: RUSSELL RHOADS, KELLEY SCHOOL OF BUSINESS, INDIANA UNIVERSITY

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VOLQ, VXX, VVIX, UVXY, SVIX, UVIX
DOES THE 20 HANDLE IN VIX FUTURES FOR Q1 OF 2024 SIGNAL THE RETURN OF RECESSION FEARS
HOW DAILYS HAVE CHANGED THE SPX INDEX OPTION ARENA
RUSSELL'S WEEKLY RUNDOWN
WHERE WILL VIX BE NEXT WEEK

Host: Mark Longo, The Options Insider Media Group
Co-Host: Andrew Giovinazzi, The Option Pit
Hot Seat: Steve Sosnick, Interactive Brokers

Volatility Review

Markets Green To End The Week - Strange Week With Apple Red But Markets Green
What We Are Seeing In The Volatility Markets This Week
Discussion Of These Volatility Products: VIX, VXX, VVIX, UVXY, SVIX, UVIX, VOLQ
VIX Futures Are Looking About As Normal As Can Be At This Point In the Cycle
Are You Trading VXX Again?

Crystal Ball

Where Will VIX Be Next Week

Host: Mark Longo, The Options Insider Media Group
Co-Host: Mark Sebastian, The Option Pit
Hot Seat: Scott Nations, Nations Indexes

Volatility Review

Markets Green To End The Week
What We Are Seeing In The Volatility Markets This Week
Discussion Of These Volatility Products: VIX, VXX, VVIX, UVXY, SVIX, UVIX, VOLQ, VolDex, VOLI
S&P 360-Day VolDex vs. NDX 360-Day VolDex
VIX term structure has left people fairly complacent

Crystal Ball

Where Will VIX, VOLQ & VOLI Be Next Week

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT

VOLATILITY REVIEW

MARKETS GREEN TO END THE WEEK
WHAT WE ARE SEEING IN THE VOLATILITY MARKETS THIS WEEK
HOW THE UPCOMING NASDAQ REBALANCE WILL AFFECT THE MARKETS
DISCUSSION OF THESE VOLATILITY PRODUCTS: VIX, VXX, VVIX, UVXY, SVIX, UVIX, VOLQ
LOOKING AT EARNINGS VOLATILITY

CRYSTAL BALL

WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
HOT SEAT: JOE TIGAY, EQUITY ARMOR INVESTMENTS

VOLATILITY REVIEW

MARKETS MIXED TO END THE WEEK
WHAT WE ARE SEEING IN THE VOLATILITY MARKETS THIS WEEK
DISCUSSION OF THESE VOLATILITY PRODUCTS: VIX, VXX, VVIX, UVXY, SVIX, UVIX, VOLQ

CRYSTAL BALL

WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VXX, VVIX, UVXY, SVIX, UVIX, VOLQ
THE POPULAR CRYSTAL BALL - WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT
GUEST HOST: RUSSELL RHOADS, KELLEY SCHOOL OF BUSINESS, INDIANA UNIVERSITY

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VOLQ, VXX, VVIX, UVXY, SVIX, UVIX, SPKX, SPKY
POSITIONING FOR A SPIKE IN VOLATILITY OVER NEXT 6 MONTHS
RUSSELL'S WEEKLY RUNDOWN
WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
GUEST HOST: MATT AMBERSON, OPTION RESEARCH & TECHNOLOGY SERVICES

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VOLQ, VXX, VVIX, UVXY, SVIX, UVIX
EARNINGS VOLATILITY IN SINGLE NAME STOCKS SUCH AS KMX
HOW LOW CAN VIX GO
DISCUSSING RUSSELL RECON
WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VXX, VVIX, UVXY, SVIX, UVIX, VOLQ
EARNINGS VOLATILITY
ITS THE END OF THE DOT.COM BUBBLE TYPE TRADING
THE POPULAR CRYSTAL BALL - WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
GUEST HOST: RUSSELL RHOADS, KELLEY SCHOOL OF BUSINESS, INDIANA UNIVERSITY

There's no live show this week. But that doesn't mean there isn't new content waiting for you on Friday in your Volatility Views feed. Mark and Dr. Vix - aka Russell Rhoads - give you a quick "just the facts" breakdown of the big trades and trends in the volatility market this week.

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT GUEST HOST: RUSSELL RHOADS, KELLEY SCHOOL OF BUSINESS, INDIANA UNIVERSITY

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VIX, VOLQ, VXX, VVIX, UVXY, SVIX, UVIX
RECESSION FEARS VS INFLATION FEARS PLAYING OUT IN THE MARKET
RUSSELL'S WEEKLY RUNDOWN
CONGRATS TO RUSSELL WINNING THE CRYSTAL BALL TWO WEEKS AGO - WHERE WILL VOLQ & VIX BE IN 2 WEEKS

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT GUEST HOST: JIM CARROLL, TOROSO ADVISORS

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VOLQ, VIX, VXX, VVIX, UVXY, SVIX, UVIX
ALL THE MONEY PILING INTO AI STOCK RIGHT NOW
EARNINGS VOLATILITY
HOW WILL THE DEBT CEILING DEBACLE IMPACT VOLATILITY IN THE MARKETS DURING OUR SHORTENED WEEK NEXT WEEK
THE POPULAR CRYSTAL BALL - WHERE WILL VIX AND VOLQ BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT GUEST HOST: RUSSELL RHOADS, KELLEY SCHOOL OF BUSINESS, INDIANA UNIVERSITY

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VOLQ, VIX, VXX, VVIX, UVXY, SVIX, UVIX
SIX STOCKS STILL HOLDING THE WHOLE MARKET UP. HOW LONG CAN THIS CONTINUE?
LONG QQQ FOR A BIT BUT FINALLY BAILED. REST OF THE MARKET NEEDS TO CATCH UP.
TRACKING THE SAGA OF RUSSELL'S LONG VOL TRADE
THE RETURN OF RUSSELL'S WEEKLY RUNDOWN
THE POPULAR CRYSTAL BALL - WHERE WILL VOLQ & VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT GUEST HOST: KEVIN DAVITT, NASDAQ

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VOLQ, VIX, VXX, VVIX, UVXY, SVIX, UVIX
SIX STOCKS ARE KIND OF HOLDING THE WHOLE MARKET UP. EVERYTHING ELSE - FINANCIALS, MAIN STREET BUSINESS, ETC. ARE REALLY STRUGGLING. THAT IS SOMEWHAT CONCERNING.
THE POPULAR CRYSTAL BALL - WHERE WILL VOLQ & VIX BE NEXT WEEK

HOST: Mark Longo, The Options Insider Media Group NASDAQ HOST: Kevin Davitt, Nasdaq GUEST: Eric Lewis, The Weekly Option

Breaking down volatility in the markets this week
Futures volume for April from Options Clearing
Analysis of these volatility products: VOLQ, VIX, VXX, VVIX, UVXY, SVIX, UVIX
A discussion of earnings volatility
The popular crystal ball - where will VOLQ & VIX be next week?

HOST: Mark Longo, The Options Insider Media Group CO-HOST: Andrew Giovinazzi, The Option Pit NASDAQ HOST: Kevin Davitt, Nasdaq

Breaking down volatility in the markets this week
Analysis of these volatility products: VOLQ, VIX, VXX, VVIX, UVXY, SVIX, UVIX
The popular crystal ball - where will VOLQ & VIX be next week?

HOST: Mark Longo, The Options Insider Media Group CO-HOST: Mark Sebastian, The Option Pit NASDAQ HOST: Kevin Davitt, Nasdaq GUEST: Jermal Chandler, tastylive

Breaking down volatility in the markets this week
Discussing the impending launch of 1-day VIX. What does that mean for the volatility markets?
Analysis of these volatility products: VOLQ, VIX, VXX, VVIX, UVXY, SVIX, UVIX
The popular crystal ball - where will VOLQ & VIX be next week?

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT GUEST HOST: RUSSELL RHOADS, KELLEY SCHOOL OF BUSINESS - INDIANA UNIVERSITY

BREAKING DOWN VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK: VOLQ, VIX, VXX, VVIX, UVXY, SVIX, UVIX
FUTURES CONTRACTS VOLUME FOR MARCH
THE RETURN OF RUSSELL'S WEEKLY RUNDOWN
THE VIX SPIKE TRADE SAGA CONTINUES
THE POPULAR CRYSTAL BALL - WHERE WILL VOLQ & VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT GUEST HOST: KEVIN DAVITT, NASDAQ

BREAKING DOWN THE ANNIHILATION OF VOLATILITY PRODUCTS IN THE MARKETS THIS WEEK
IS THERE A FED COLLAR ON THE MARKET RIGHT NOW
ANALYSIS OF THESE VOLATILITY PRODUCTS: VOLQ, VIX, VXX, VVIX, UVXY, SVIX, UVIX
THE POPULAR CRYSTAL BALL - WHERE WILL VOLQ & VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT GUEST HOST: KEVIN DAVITT, NASDAQ

BREAKING DOWN ANOTHER CRAZY WEEK OF VOLATILITY IN THE MARKETS
DISCUSSING THE BANKING SECTOR AND ITS IMPACT ON VOLATILITY
ANALYSIS OF THESE VOLATILITY PRODUCTS: VOLQ, VIX, VXX, VVIX, UVXY, SVIX, UVIX
THE POPULAR CRYSTAL BALL - WHERE WILL VOLQ & VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT GUEST HOST: KEVIN DAVITT, NASDAQ GUEST HOST: JIM CARROLL, TOROSO ADVISORS

BREAKING DOWN ANOTHER CRAZY WEEK OF VOLATILITY IN THE MARKETS
DEBATING THE GROWING FEARS OF CONTAGION IN THE BANKING SECTOR AND ITS IMPACT ON VOLATILITY
ANALYSIS OF THESE VOLATILITY PRODUCTS: VOLQ, VIX, VXX, VVIX, UVXY, SVIX, UVIX
THE POPULAR CRYSTAL BALL - WHERE WILL VOLQ & VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT GUEST HOST: KEVIN DAVITT, NASDAQ GUEST HOST: VANCE HARWOOD, SIX FIGURE INVESTING

BREAKING DOWN THE CRAZY VOLATILITY IN THE MARKETS THIS WEEK
WITH SVIB CRASHING, IS THERE A RISK OF CONTAGION IN THE MARKETS
ANALYSIS OF THESE VOLATILITY PRODUCTS: VOLQ, VIX, VXX, VVIX, UVXY, SVIX, UVIX
THE POPULAR CRYSTAL BALL - WHERE WILL VOLQ & VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT CO-HOST: KEVIN DAVITT, NASDAQ

ANALYSIS OF THESE VOLATILITY PRODUCTS: VIX, VXX, VVIX, UVXY, SVIX, UVIX
COULD WE SEE CASH SETTLED SINGLE NAMED STOCKS WITHIN A YEAR?
DEBATING THE IMPACT OF THE 0 DTE EXPLOSION ON SPX
THE POPULAR CRYSTAL BALL - WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT GUEST HOST: JAY SOLOFF, INVESTORS ALLEY GUEST HOST: KEVIN DAVITT, NASDAQ

BREAKING DOWN VOLATILITY IN THE MARKETS THIS WEEK
ANALYSIS OF THESE VOLATILITY PRODUCTS: VOLQ, VIX, VXX, VVIX, UVXY, SVIX, UVI
THE POPULAR CRYSTAL BALL - WHERE WILL VOLQ & VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT GUEST HOST: RUSSELL RHOADS, KELLEY SCHOOL OF BUSINESS - INDIANA UNIVERSITY GUEST HOST: KEVIN DAVITT, NASDAQ

BREAKING DOWN VOLATILITY IN THE MARKETS THIS WEEK
ANALYSIS OF THESE VOLATILITY PRODUCTS: VOLQ, VIX, VXX, VVIX, UVXY, SVIX, UVIX
DEBATING THE REAL IMPACT OF THE 0DTE SPX EXPLOSION ON VIX
THE POPULAR CRYSTAL BALL - WHERE WILL VIX & VOLQ BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT GUEST HOST: LING ZHOU, COWEN, INC.

BREAKING DOWN VOLATILITY IN THE MARKETS THIS WEEK
ANALYSIS OF THESE VOLATILITY PRODUCTS: VIX, VOLQ, VXX, VVIX, UVXY, SVIX, UVIX
DISCUSSING EARNINGS SEASON VOLATILITY INCLUDING LYFT, PYPL
IS 0DTE SPX REALLY MESSING UP VIX
THE POPULAR CRYSTAL BALL - WHERE WILL VIX & VOLQ BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT GUEST HOST: SCOTT NATIONS, NATIONS INDEXES

BREAKING DOWN VOLATILITY IN THE MARKETS THIS WEEK
DISCUSSING THE MARKETS RESPONSE TO THE FED ANNOUNCEMENT
LOOKING AT JANUARY OPTIONS VOLUME NUMBERS FROM OCC
ANALYSIS OF THESE VOLATILITY PRODUCTS: VIX, VOLQ, VXX, VVIX, UVXY, SVIX, UVIX
TALKING VOLQ VS VIX
LOOKING AT VOLDEX TERMDEX TERM STRUCTURE
DISCUSSING EARNINGS SEASON VOLATILITY
THE POPULAR CRYSTAL BALL - WHERE WILL VIX & VOLQ BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT GUEST HOST: DAVE LINCOLN, THE SHORT VOL SHOW

BREAKING DOWN AN INSANE DAY FOR SHORT VOL TRADERS
ANALYSIS OF THESE VOLATILITY PRODUCTS: VIX, VXX, VVIX, UVXY, SVIX, UVIX
DEBATING THE IMPACT OF THE 0 DTE EXPLOSION ON VIX LAST YEAR
WAS THE UVIX REVERSE SPLIT REALLY JUST A BIG DUD
THE POPULAR CRYSTAL BALL - WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT GUEST HOST: RUSSELL RHOADS, KELLEY SCHOOL OF BUSINESS, INDIANA UNIVERSITY

DISCUSSION OF VOLATILITY AT THE END OF THE WEEK
ANALYSIS OF THESE VOLATILITY PRODUCTS: VIX, VXX, VVIX, UVXY, SVIX, UVIX
EARNINGS VOLATILITY IN PG, AA, NFLX, GE, MSFT, TSLA
IS THE 0 DTE TREND MUTING VIX
THE POPULAR CRYSTAL BALL - WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT GUEST HOST: JIM CARROLL, TOROSO ADVISORS

2022 VOLATILITY REVIEW
DISCUSSION OF VOLATILITY AT THE END OF THE WEEK
ANALYSIS OF THESE VOLATILITY PRODUCTS: VIX, VXX, VVIX, UVXY, SVIX, UVIX
WAS VIX BROKEN LAST YEAR
THE POPULAR CRYSTAL BALL - WHERE WILL VIX BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT GUEST HOST: RUSSELL RHOADS, KELLEY SCHOOL OF BUSINESS, INDIANA UNIVERSITY

VOLATILITY STORY OF THE YEAR
THE 0 DTE SPX EXPLOSION
DISCUSSION OF VOLATILITY AT THE END OF THE WEEK
ANALYSIS OF THESE VOLATILITY PRODUCTS: VIX, VXX, VVIX, UVXY, SVIX, UVIX
THE POPULAR CRYSTAL BALL - WHERE WILL VIX BE NEXT WEEK & WHAT WILL THE AVERAGE BE FOR 2023

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MATT AMBERSON, ORATS

VOLATILITY REVIEW SEGMENT

WHAT WE ARE SEEING IN THE VOLATILITY MARKETS THIS WEEK
ANALYSIS OF THESE VOLATILITY PRODUCTS THIS WEEK AND ALSO HIGHS AND LOWS FOR THE YEAR: VIX, SPIKES, VSPKES, VXX, VVIX, UVXY, SVIX, UVIX, SPKX, SPKY, SPKF, SPK
IS THE VIX BROKEN
WHEN THE FED PLATEAUS, THAT'S WHEN A RECESSION STARTS

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK
HOW WERE OUR PREDICTIONS THIS YEAR
WHERE DO WE SPECULATE THE VIX WILL BE AT THE END OF 2023

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT

VOLATILITY REVIEW SEGMENT

WHAT WE ARE SEEING IN THE VOLATILITY MARKETS THIS WEEK
ANALYSIS OF THESE VOLATILITY PRODUCTS THIS WEEK: VIX, SPIKES, VSPKES, VXX, VVIX, UVXY, SVIX, UVIX, SPKX, SPKY, SPKF, SPK

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT

VOLATILITY REVIEW SEGMENT

WHAT WE ARE SEEING IN THE VOLATILITY MARKETS THIS WEEK
ANALYSIS OF THESE VOLATILITY PRODUCTS THIS WEEK: VIX, SPIKES, VSPKES, VXX, VVIX, UVXY, SVIX, UVIX, SPKX, SPKY, SPKF, SPK

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT MIAX HOT SEAT: RUSSELL RHOADS, KELLEY SCHOOL OF BUSINESS - INDIANA UNIVERSITY

VOLATILITY REVIEW SEGMENT

WHAT WE ARE SEEING IN THE VOLATILITY MARKETS THIS WEEK
ANALYSIS OF THESE VOLATILITY PRODUCTS THIS WEEK: VIX, SPIKES, VSPKES, VXX, VVIX, UVXY, SVIX, UVIX, SPKX, SPKY, SPKF, SPK
IS THE SPX DAILY OPTIONS EXPLOSION STEALING VOLUME FROM VIX OPTIONS?

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: SIMON HO, T3 INDEX

VOLATILITY REVIEW SEGMENT

WHAT WE ARE SEEING IN THE VOLATILITY MARKETS THIS WEEK
DISCUSSION OF THE LAUNCH OF THE VOLATILITY HUB
ANALYSIS OF THESE VOLATILITY PRODUCTS THIS WEEK:
VIX, SPIKES, VSPKES, VXX, VVIX, UVXY, SVIX, UVIX, SPKX, SPKY, SPKF, SPK
EARNINGS VOLATILITY IN FIVE, SNOW

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
MATRIX HOT SEAT: MARK SEBASTIAN, THE OPTION PIT

DISCUSSION OF VOLATILITY IN THE MARKETPLACE
ANALYSIS OF THESE VOLATILITY PRODUCTS: VIX, SPIKES, VSPKES, VXX, VVIX, UVXY, SVIX, UVIX, SPKX, SPKY, SPKF, SPK
EARNINGS VOLATILITY IN BBY, HP
HAVE DAILY OPTIONS IMPACTED VOLATILITY
THE POPULAR CRYSTAL BALL - WHERE WILL VIX/SPIKES BE AT THE END OF NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
MATRIX HOT SEAT: ANDREW GIOVINAZZI, THE OPTION PIT
MIAX HOT SEAT: RUSSELL RHOADS, EQ DERIVATIVES & KELLEY SCHOOL OF BUSINESS, INDIANA UNIVERSITY

DISCUSSION OF HOW THIS WILD WEEK IMPACTED VOLATILITY
ANALYSIS OF THESE VOLATILITY PRODUCTS: VIX, SPIKES, VSPKES, VXX, VVIX, UVXY, SVIX, UVIX, SPKX, SPKY, SPKF, SPK
THE POPULAR CRYSTAL BALL - WHERE WILL VIX/SPIKES BE AT THE END OF NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
MATRIX HOT SEAT: ANDREW GIOVINAZZI, THE OPTION PIT
MIAX HOT SEAT: MATT MCFARLAND, MIAX EXCHANGE GROUP

DISCUSSION OF VOLATILITY AT THE END OF THE WEEK
ANALYSIS OF THESE VOLATILITY PRODUCTS: VIX, SPIKES, VSPKES, VXX, VVIX, UVXY, SVIX, UVIX, SPKX, SPKY, SPKF, SPK
EARNINGS VOLATILITY IN WWE, HOOD, PTLO, DUK
THE POPULAR CRYSTAL BALL - WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
MATRIX HOT SEAT: ANDREW GIOVINAZZI, THE OPTION PIT
MIAX HOT SEAT: MATT AMBERSON, OPTION RESEARCH & TECHNOLOGY SERVICES

DISCUSSION OF VOLATILITY AT THE END OF THE WEEK
ANALYSIS OF THESE VOLATILITY PRODUCTS THIS WEEK: VIX, SPIKES, VSPKES, VXX, VVIX, UVXY, SVIX, UVIX, SPKX, SPKY, SPKF, SPK
EARNINGS SEASON AND EARNINGS VOLATILITY
THE POPULAR CRYSTAL BALL - WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
MATRIX HOT SEAT: ANDREW GIOVINAZZI, THE OPTION PIT
MIAX HOT SEAT: MATT AMBERSON, OPTION RESEARCH & TECHNOLOGY SERVICES

DISCUSSION OF VOLATILITY AT THE END OF THE WEEK
ANALYSIS OF THESE VOLATILITY PRODUCTS THIS WEEK: VIX, SPIKES, VSPKES, VXX, VVIX, UVXY, SVIX, UVIX, SPKX, SPKY, SPKF, SPK
EARNINGS SEASON AND EARNINGS VOLATILITY
THE POPULAR CRYSTAL BALL - WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
MATRIX HOT SEAT: ANDREW GIOVINAZZI, THE OPTION PIT

DISCUSSION OF VOLATILITY AT THE END OF ANOTHER VOLATILE WEEK
ANALYSIS OF THESE VOLATILITY PRODUCTS THIS WEEK: VIX, SPIKES, VSPKES, VXX, VVIX, UVXY, SVIX, UVIX, SPKX, SPKY, SPKF, SPK
THE MOST UNINTERESTING 30 VIX MARKET EVER
THE POPULAR CRYSTAL BALL - WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
MATRIX HOT SEAT: ANDREW GIOVINAZZI, THE OPTION PIT
MIAX HOT SEAT: MATT MCFARLAND, MIAX EXCHANGE GROUP

DISCUSSION OF VOLATILITY AT THE END OF ANOTHER VOLATILE WEEK
ANALYSIS OF THESE VOLATILITY PRODUCTS THIS WEEK: VIX, SPIKES, VSPKES, VXX, VVIX, UVXY, SVIX, UVIX, SPKX, SPKY, SPKF, SPK
THE VOLATILITY INDEX METHODOLOGY FOR SPIKES
THE POPULAR CRYSTAL BALL - WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
MATRIX HOT SEAT: MARK SEBASTIAN, THE OPTION PIT

DISCUSSION OF VOLATILITY AT THE END OF ANOTHER VOLATILE WEEK
ANALYSIS OF THESE VOLATILITY PRODUCTS THIS WEEK: VIX, SPIKES, VSPKES, VXX, VVIX, UVXY, SVIX, UVIX, SPKX, SPKY, SPKF, SPK
OPTIONS VOLUME NUMBERS FOR SEPTEMBER FROM OCC
THE POPULAR CRYSTAL BALL - WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
MATRIX HOT SEAT: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: JOHN SMOLLEN, MIAX EXCHANGE GROUP

DISCUSSION OF VOLATILITY AT THE END OF ANOTHER VOLATILE WEEK
ANALYSIS OF THESE VOLATILITY PRODUCTS THIS WEEK: VIX, SPIKES, VSPKES, VXX, VVIX, UVXY, SVIX, UVIX, SPKX, SPKY, SPKF, SPK
THE POPULAR CRYSTAL BALL - WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
MATRIX HOT SEAT: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: JOHN SMOLLEN, MIAX EXCHANGE GROUP

DISCUSSION OF VOLATILITY AT THE END OF ANOTHER VOLATILE WEEK
ANALYSIS OF THESE VOLATILITY PRODUCTS THIS WEEK: VIX, SPIKES, VSPKES, VXX, VVIX, UVXY, SVIX, UVIX, SPKX, SPKY, SPKF, SPK
THE POPULAR CRYSTAL BALL - WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
MATRIX HOT SEAT: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: LUKE RAHBARI, EQUITY ARMOR INVESTMENTS

DISCUSSION OF VOLATILITY AT THE END OF ANOTHER VOLATILE WEEK
ANALYSIS OF THESE VOLATILITY PRODUCTS THIS WEEK: VIX, SPIKES, VSPKES, VXX, VVIX, UVXY, SVIX, UVIX, SPKX, SPKY, SPKF, SPK
BACKWARDATION IN VIX FUTURES
THE POPULAR CRYSTAL BALL - WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
MATRIX HOT SEAT: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: TOM JARCK, MIAX EXCHANGE GROUP

DISCUSSION OF VOLATILITY AT THE END OF ANOTHER VOLATILE WEEK
ANALYSIS OF THESE VOLATILITY PRODUCTS THIS WEEK: VIX, SPIKES, VSPKES, VXX, VVIX, UVXY, SVIX, UVIX, SPKX, SPKY, SPKF, SPK
VOLATILITY CAPTURE FUNDS
THE POPULAR CRYSTAL BALL - WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: RUSSELL RHOADS, EQ DERIVATIVES & KELLEY SCHOOL OF BUSINESS, INDIANA UNIVERSITY

OLATILITY REVIEW SEGMENT

LOOKING BACK AT THE PAST 499 EPISODES
BUY NOT. SELL OR NOT SELL. THERE IS NO BUY.
WHAT WE ARE SEEING IN THE VOLATILITY MARKETS THIS WEEK
ANALYSIS OF THESE VOLATILITY PRODUCTS THIS WEEK: VIX, SPIKES, VSPKES, VXX, VVIX, UVXY, SVIX, UVIX, SPKX, SPKY
RUSSELL'S WEEKLY RUNDOWN

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
MATRIX HOT SEAT: MARK SEBASTIAN, THE OPTION PIT

VOLATILITY REVIEW SEGMENT

WHAT WE ARE SEEING IN THE VOLATILITY MARKETS THIS WEEK
ANALYSIS OF THESE VOLATILITY PRODUCTS THIS WEEK: VIX, SPIKES, VSPKES, VXX, VVIX, UVXY, SVIX, UVIX, SPKX, SPKY
AUGUST OPTIONS VOLUME NUMBERS FROM OPTIONS CLEARING CORP
EARNINGS VOLATILITY IN LULU, NIO, GME, PLAY

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
MATRIX HOT SEAT: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: MATT MCFARLAND, MIAX EXCHANGE GROUP

VOLATILITY REVIEW SEGMENT

MARKETS RED TO END THE WEEK
WHAT WE ARE SEEING IN THE VOLATILITY MARKETS THIS WEEK
ANALYSIS OF THESE VOLATILITY PRODUCTS THIS WEEK: VIX, SPIKES, VSPKES, VXX, VVIX, UVXY, SVIX, UVIX, SPKX, SPKY

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
MATRIX HOT SEAT: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: SIMON HO, T3 INDEX

VOLATILITY REVIEW SEGMENT

MARKETS RED TO END THE WEEK
WHAT WE ARE SEEING IN THE VOLATILITY MARKETS THIS WEEK
DISCUSSION OF THE LAUNCH OF THE NEW SPIKES ETPS PRODUCTS - SPKX AND SPKY
ANALYSIS OF THESE VOLATILITY PRODUCTS THIS WEEK: VIX, SPIKES, VSPKES, VXX, VVIX, UVXY, SVIX, UVIX

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
MATRIX HOT SEAT: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: TOM JARCK, MIAX EXCHANGE GROUP

VOLATILITY REVIEW SEGMENT

MARKETS GREEN TO END THE WEEK
WHAT WE ARE SEEING IN THE VOLATILITY MARKETS THIS WEEK
DISCUSSION OF THESE VOLATILITY PRODUCTS: VIX, SPIKES, VSPKES, VXX, VVIX, UVXY, SVIX, UVIX
DISCUSSING WHETHER THE STOCK MARKET CAN HIT ROCK BOTTOM WITHOUT VIX REGISTERING PANIC
THEY ARE COMING FOR VOLATILITY TODAY - VIX AND SPIKE ARE GETTING PUMMELED

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
MATRIX HOT SEAT: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: RUSSELL RHOADS, EQ DERIVATIVES & INDIANA UNIVERSITY - KELLEY SCHOOL OF BUSINESS

VOLATILITY REVIEW SEGMENT

MARKETS RED TO END THE WEEK
WHAT WE ARE SEEING IN THE VOLATILITY MARKETS THIS WEEK
DISCUSSION OF THESE VOLATILITY PRODUCTS: VIX, SPIKES, VSPKES, VXX, VVIX, UVXY, SVIX, UVIX

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
MATRIX HOT SEAT: ANDREW GIOVINAZZI, THE OPTION PIT
MIAX HOT SEAT: JOHN SMOLLEN, MIAMI EXCHANGE GROUP

VOLATILITY REVIEW SEGMENT

MARKETS MOSTLY GREEN TO END THE WEEK
WHAT WE ARE SEEING IN THE VOLATILITY MARKETS THIS WEEK
DISCUSSION OF THESE VOLATILITY PRODUCTS: VIX, SPIKES, VSPKES, VXX, VVIX, UVXY, SVIX, UVIX

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: MATT AMBERSON, OPTIONS RESEARCH & TECHNOLOGY SERVICES

VOLATILITY REVIEW

MARKETS RED TO END THE WEEK
WHAT WE ARE SEEING IN THE VOLATILITY MARKETS THIS WEEK
THREE FORMER MARKET MAKERS TALKING SHOP
DISCUSSION OF THESE VOLATILITY PRODUCTS: VIX, SPIKES, VXX, VVIX, UVXY, SVIX, UVIX
EARNINGS VOLATILITY IN AXP, SNAP

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: MATT MCFARLAND, MIAX EXCHANGE GROUP

VOLATILITY REVIEW

MARKETS GREEN TO END THE WEEK
WHAT WE ARE SEEING IN THE VOLATILITY MARKETS THIS WEEK
DISCUSSION OF THESE VOLATILITY PRODUCTS: VIX, SPIKES, VXX, VVIX, UVXY, SVIX, UVIX
DISCUSSION OF THE LAUNCH OF SPKX AND SPKY
EARNINGS VOLATILITY IN JPM, MS, C, BAC, ALLY, JNJ, TSLA, UAL, AAL

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: JIM CARROLL, TOROSO ADVISORS

VOLATILITY REVIEW

MARKETS RED TO END THE WEEK
WHAT WE ARE SEEING IN THE VOLATILITY MARKETS THIS WEEK
DISCUSSION OF THESE VOLATILITY PRODUCTS: VIX, SPIKES, VXX, VVIX, UVXY, SVIX, UVIX, VOLI
LOOKING AT THE VOL REGIMES
VIX VS VOLI

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: HENRY SCHWARTZ, TRADE ALERT

VOLATILITY REVIEW

MARKETS RED TO END THE WEEK
WHAT WE ARE SEEING IN THE VOLATILITY MARKETS THIS WEEK
DISCUSSION OF THESE VOLATILITY PRODUCTS: VIX, SPIKES, VXX, VVIX, UVXY, SVIX, UVIX

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: BRIAN OVERBY, ALLY

VOLATILITY REVIEW

MARKETS MIXED TO END THE WEEK
WHAT WE ARE SEEING IN THE VOLATILITY MARKETS THIS WEEK
DISCUSSION OF THESE VOLATILITY PRODUCTS: VIX, SPIKES, VXX, VVIX, UVXY, SVIX, UVIX

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

On this episode, Mark and The Rock Lobster break down:

The market's reaction to the CPI number
Is VIX underperforming during this extreme market selloff?
Whatever happened to 50-cent? Is he back in a new form?
Is there ever a reason to trade bullish risk reversals in VIX?
Did someone actually score a bullseye in the Crystal Ball this week?
And much more...

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: MATT MCFARLAND, MIAX EXCHANGE GROUP

VOLATILITY REVIEW

MARKETS RED TO END THE WEEK
WHAT WE ARE SEEING IN THE VOLATILITY MARKETS THIS WEEK
DISCUSSION OF THESE VOLATILITY PRODUCTS: VIX, SPIKES, VXX, VVIX, UVXY, SVIX, UVIX
IS IT THE CALM BEFORE THE NEXT VOLATILITY STORM?

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: JOE TIGAY, EQUITY ARMOR INVESTMENTS

VOLATILITY REVIEW

MARKETS GREEN TO END THE WEEK
WHAT WE ARE SEEING IN THE VOLATILITY MARKETS THIS WEEK
DISCUSSION OF THESE VOLATILITY PRODUCTS: VIX, SPIKES, VXX, VVIX, UVXY, SVIX, UVIX
WHAT LEVEL DOES VIX HAVE TO HIT TO SIGNAL CONCESSION IN THE BROAD MARKETS

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOSTS: MARK SEBASTIAN AND ANDREW GIOVINAZZI, THE OPTION PIT
MIAX HOT SEAT: CHRIS JOHNSON, ETF ADVISORY RESEARCH PARTNERS

THIS EPISODE WAS RECORDED LIVE AT THE MONEY MORNING LIVE EVENT IN CHICAGO.

VOLATILITY REVIEW

MARKETS GREEN TO END THE WEEK
WHAT WE ARE SEEING IN THE VOLATILITY MARKETS THIS WEEK: VIX, SPIKES, VXX, VVIX, UVXY, SVIX, UVIX

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT
MIAX HOT SEAT: MATT AMBERSON, OPTION RESEARCH & TECHNOLOGY SERVICES

VOLATILITY REVIEW

MARKETS GREEN TO END THE WEEK
WHAT WE ARE SEEING IN THE VOLATILITY MARKETS THIS WEEK: VIX, SPIKES, VXX, VVIX, UVXY, SVIX, UVIX
ARE THE MARKETS SEEING A DEAD CAT BOUNCE
EARNINGS VOLATILITY IN DUOL

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT

VOLATILITY REVIEW

MARKETS VERY RED TO END THE WEEK
WHAT WE ARE SEEING IN THE VOLATILITY MARKETS THIS WEEK: VIX, SPIKES, VXX, VVIX, UVXY, SVIX, UVIX
WHAT IS VIX.COM
EARNINGS VOLATILITY IN EBAY, ETSY, PZZA, DASH, WWE
OPTIONS VOLUME NUMBERS FOR APRIL FROM OCC

VOLATILITY VOICEMAIL

WHAT TO BUY THE S&P AT IF NEW TO THE MARKET
DIFFERENCE BETWEEN REALIZED AND IMPLIED VOLATILITY

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: CEM KARSAN, KAI VOLATILITY

VOLATILITY REVIEW

MARKETS VERY RED TO END THE WEEK
VOLATILITY DANGER ZONE MAKING ANOTHER APPEARANCE ON THE SHOW
WHAT WE ARE SEEING IN THE VOLATILITY MARKETS THIS WEEK: VIX, SPIKES, VXX, VVIX, UVXY, SVIX, UVIX

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: MATT MCFARLAND, MIAX EXCHANGE GROUP

VOLATILITY REVIEW

MARKETS RED TO END THE WEEK
VOLATILITY DANGER ZONE TIME
WHAT WE ARE SEEING IN THE VOLATILITY MARKETS THIS
WEEK: VIX, SPIKES, VXX, VVIX, UVXY, SVIX, UVIX

VOLATILITY VOICE MAIL

ANSWERING YOUR TAX QUESTIONS ABOUT VIXY

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: TOM JARCK, MIAX EXCHANGE GROUP
GUEST: JIM CARROLL, TOROSO INVESTMENTS

VOLATILITY REVIEW

MARKETS MIXED TO END THE WEEK
WHAT WE ARE SEEING IN THE VOLATILITY MARKETS THIS WEEK
THE RAGING DEBATE OVER SVIX & UVIX

VOLATILITY VOICE MAIL

ANSWERING YOUR QUESTIONS ABOUT A STRADDLE IN SPX

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT

VOLATILITY REVIEW

MARKETS RED TO END THE WEEK
PRO TRADING CRATE WINNER ANNOUNCED
WHAT WE ARE SEEING IN THE VOLATILITY MARKETS THIS WEEK
A DEEP DIVE INTO THE NEW VOLATILITY PRODUCTS - SVIX & UVIX

VOLATILITY VOICE MAIL

ANSWERING YOUR QUESTIONS ABOUT VIX FUTURES, VIX WEEKLY OPTIONS, WEEKLY SPX OPTIONS, GREEK, BITCOIN

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT
MIAX HOT SEAT: TOM JARCK, MIAX EXCHANGE GROUP

VOLATILITY REVIEW

MARKETS MIXED TO END THE WEEK
WHAT WE ARE SEEING IN THE VOLATILITY MARKETS THIS WEEK
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
DISCUSSING THE VXX FIASCO AND THE NEUTERING OF SVXY

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT GUESTS: BENN EIFERT & SCOTT MAIDEL, QVR ADVISORS

VOLATILITY REVIEW

MARKETS MIXED TO END THE WEEK
WHAT WE ARE SEEING IN THE VOLATILITY MARKETS THIS WEEK
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
WHAT'S GOING ON WITH VXX - SHOULD YOU STILL TRADE IT

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT CO-HOST: RUSSELL RHOADS, EQ DERIVATIVES & KELLEY SCHOOL OF BUSINESS, INDIANA UNIVERSITY

VOLATILITY REVIEW

MARKETS MIXED TO END THE WEEK
VOLATILITY IS STILL IN THE DANGER ZONE
BREAKING DOWN A WEEKS WORTH OF DEADLY WHIPSAWS
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
RUSSELL'S WEEKLY RUNDOWN

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT CO-HOST: MATT MCFARLAND, MIAX EXCHANGE GROUP

VOLATILITY REVIEW

MARKETS RED TO END THE WEEK
CONTINUATION OF VOLATILITY IN THE DANGER ZONE
12TH DAY OF BACKWARDATION IN VOLATILITY FUTURES
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

On this episode, Mark is joined by Andrew "The Rock Lobster" Giovinazzi from Option Pit to discuss:

The volatility spike, and sudden reversal, from Russia's invasion of Ukraine.
The top volatility trades, trends and unusual activity from this trading week.
The sultriness of Morgan Fairchild
and much more...
Don't forget to submit your guess for the Crystal Ball segment for a chance to win fabulous prizes..

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT

VOLATILITY REVIEW

MARKETS RED TO END THE WEEK
BACK IN THE VOLATILITY DANGER ZONE
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
LOOKING AT EARNINGS VOLATILITY IN PLTR, NVDA, WMT

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT

VOLATILITY REVIEW

MARKETS RED TO END THE WEEK
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
LOOKING AT EARNINGS VOLATILITY IN MAT, MSI, DUK, DIS, PEP, KO, UBER, TWTR, UA, MAR, ABNB, VIACA, PLTR, WMT
DISCUSSING GOOGLE TRENDS IN VIX AND VOLATILITY IN 2021

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
HOT SEAT: BRIAN OVERBY, ALLY

We continue to break down all of the volatility madness in the markets. We look at volatility in the current earnings season. We look at the top trades this week in SPIKES, VIX, VVIX, VXX & UVXY. Additionally, we make predictions for where VIX/SPIKES will be at the end of next week.

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
HOT SEAT: HENRY SCHWARTZ, TRADE ALERT

We continue to break down all of the volatility madness in the markets. We look at volatility in the current earnings season. We look at the top trades this week in SPIKES, VIX, VVIX, VXX & UVXY. Additionally, we make predictions for where VIX/SPIKES will be at the end of next week.

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: RUSSELL RHOADS, EQ DERIVATIVES & KELLEY SCHOOL OF BUSINESS, INDIANA UNIVERSITY

We break down all of the madness currently with volatility in the markets. We look at volatility in the current earnings season. We look at the top trades this week in SPIKES, VIX, VVIX, VXX & UVXY. Additionally, we make predictions for where VIX/SPIKES will be at the end of next week.

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: MATT MCFARLAND, MIAX
MIAX HOT SEAT: MATT AMBERSON, ORATS

We provide our thoughts on volatility highlights and lowlights from 2021. We also give a preview of the new earnings season volatility. We look at the top trades this week in SPIKES, VIX, VVIX, VXX & UVXY. Additionally, we make predictions for where VIX/SPIKES will be at the end of next week.

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PITGUEST: JIM CARROLL, TOROSO ADVISORS

We look at the top trades this week in SPIKES, VIX, VVIX, VXX & UVXY. We discuss the top episodes of 2021. We discuss our predictions at the beginning of 2021 for where VIX/SPIKES would be at the end of the year and we make predictions both for next week as well as for the end of the year.

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: ANDREW GIOVINAZZI, THE OPTION PITVOLATILITY REVIEW

MARKETS RED TO END THE WEEK
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX, UVXY, VSPIKE
LOOKING BACK AT THE HIGHS AND LOWS FOR 2021

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT CO-HOST: MATT MCFARLAND, MIAX EXCHANGE GROUP GUEST: CEM KARSAN, KAI VOLATILITY ADVISORS

VOLATILITY REVIEW

MARKETS RED TO END THE WEEK
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
LOOKING AT OMICRON VOLATILITY AND ITS IMPACT ON THE MARKETS
SPIKES FUTURES VOLUME CONTINUES TO GROW

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE IN TWO WEEKS

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT

VOLATILITY REVIEW

MARKETS GREEN TO END THE WEEK
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT CO-HOST: TOM JARCK, MIAX EXCHANGE GROUP

VOLATILITY REVIEW

MARKETS RED TO END THE WEEK
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
LOOKING AT INTRADAY VOLATILITY VS CLOSE-TO-CLOSE HISTORICAL VOLATILITY
BREAKING DOWN THE CRAZY VIX OPTIONS VOLATILITY
DEBATING WHETHER ARK INVEST COULD IMPLODE AND POISON A NUMBER OF THEIR MAJOR HOLDINGS

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT

VOLATILITY REVIEW

MARKETS MIXED TO END THE WEEK
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
DEBATING THE CAUSES OF WHY VOLATILITY REMAINS STUBBORNLY FIRM RIGHT NOW
DISCUSSING WHAT THE BOND VOLATILITY RALLY MEANS FOR EQUITY VOLATILITY

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT CO-HOST: DAVE LINCOLN, THE SHORT VOL SHOW

VOLATILITY REVIEW

MARKETS GREEN TO END THE WEEK
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
EARNINGS VOLATILITY BREAKDOWN (BYND, DIS, BMBL, NVDA, BABA)
DISCUSSING BLOOMBERG ARTICLE: OPTIONS CRAZE REWRITING RULES OF VIX, S&P 500 RELATIONSHIP

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT CO-HOST: MATT MCFARLAND, MIAX EXCHANGE GROUP

VOLATILITY REVIEW

MARKETS GREEN TO END THE WEEK
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
EARNINGS VOLATILITY BREAKDOWN (MRNA, QCOM, PZZA, EA, PTON)
HOW TO APPLY VOLATILITY MEASURES TO YOUR TRADING

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT CO-HOST: SIMON HO, T3 INDEX

VOLATILITY REVIEW

MARKETS RED TO END THE WEEK
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
EARNINGS VOLATILITY BREAKDOWN (AAPL, MRK, F, EBAY, YUM, CMCSA, IMAXL, AMZN, SBUX)
VSPIKES (VSPKE) IS HERE
SPIKES FUTURES VOLUME CONTINUES TO GROW
SKEW INDEX AS A PREDICTOR OF SPY

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT CO-HOST: MATT AMBERSON, OPTION RESEARCH & TECHNOLOGY SERVICES

VOLATILITY REVIEW

MARKETS RED TO END THE WEEK
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
EARNINGS VOLATILITY BREAKDOWN: BEST WEEKS TO BUY AND SELL VOLATILITY DURING EARNINGS SEASON

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT CO-HOST: TOM JARCK, MIAX EXCHANGE GROUP

VOLATILITY REVIEW

MARKETS GREEN TO END THE WEEK
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
EARNINGS VOLATILITY IN DPZ, BAC, WBA

VOLATILITY VOICE MAIL

ANSWERING YOUR QUESTION ABOUT FUTURES CALENDAR SPREADS

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT

VOLATILITY REVIEW

MARKETS MIXED TO END THE WEEK
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
DEBATING THE RETURN OF XIV - SHOULD YOU HAVE LEVEL 3 OPTIONS CLEARANCE TO TRADE
DISCUSSING VIX FUTURES VS. SPX SKEW AS MARKET INDICATORS
LOOKING AT AN AGGRESSIVE DECREASE IN SPY VOLATILITY SKEW - DOES IT MEAN WE ARE OFF TO THE RACES IN SPY ITSELF

VOLATILITY VOICE MAIL

ANSWERING YOUR QUESTIONS ABOUT UVXY, VIX AND THE VOLATILITY SURFACE

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT MIAX HOT SEAT: CEM KARSAN, KAI VOLATILITY ADVISORS

VOLATILITY REVIEW

MARKETS GREEN TO END THE WEEK
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
LONG VOL IS NOT THE ONLY WAY TO PROFIT FROM A MARKET DECLINE

VOLATILITY VOICE MAIL

ANSWERING YOUR QUESTION ABOUT THE VARIANCE SWAP MARKET

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT MIAX HOT SEAT: MATT MCFARLAND, MIAX EXCHANGE GROUP

VOLATILITY REVIEW

MARKETS MIXED TO END THE WEEK
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
EARNINGS VOLATILITY IN DRI, COST, NKE

VOLATILITY VOICE MAIL

ANSWERING YOUR QUESTIONS ABOUT TRADING WITH BUTTERFLIES AND USING GAMMA

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

On this episode, Mark is joined by:

Mark "The Greasy Meatball" Sebastian - Option Pit

and special guest

Brian Overby - aka "The Options Guy" - aka the Senior Options Analyst at Ally Invest

Mark, Mark and Brian break down the latest volatility action in:

SPIKEs
VIX
VXX
UVXY
Apple
RAD
COST
and more

They also answer your volatility questions and attempt to guess where volatility will land next week. Join us on this volatility adventure on #VolatilityViews.

#VolatilityViews is brought to you by MIAX. Learn more at www.MiaxOptions.com/Spikes

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT MIAX HOT SEAT: RUSSELL RHOADS, EQ DERIVATIVES AND KELLEY SCHOOL OF BUSINESS AT INDIANA UNIVERSITY

VOLATILITY REVIEW

MARKETS MIXED TO END THE WEEK
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
ANOTHER DAILY VOLUME RECORD FOR SPIKES

VOLATILITY VOICE MAIL

ANSWERING YOUR QUESTIONS ABOUT SVXY AND UVXY

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT MIAX HOT SEAT: TOM JARCK, MIAX EXCHANGE GROUP

VOLATILITY REVIEW

MARKETS MIXED TO END THE WEEK
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
EARNINGS VOLATILITY IN FIVE, CHWY

VOLATILITY VOICE MAIL

ANSWERING YOUR QUESTIONS ABOUT HOW TO USE GAMMA IN TRADING

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT

VOLATILITY REVIEW

MARKETS GREEN TO END THE WEEK
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
THE FEDS JACKSON HOLE MTG AND ITS IMPACT ON VOL
EARNINGS VOLATILITY IN PTON, BIG

VOLATILITY VOICE MAIL

ANSWERING YOUR QUESTIONS REGARDING APPL STRIKES FOR NEXT WEEK AND OUR THOUGHTS ON STRANGLES IN UVXY AND SVXY

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: MATT AMBERSON, ORATS

VOLATILITY REVIEW

MARKETS GREEN TO END THE WEEK
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
SPIKES FUTURES VOLUME CONTINUES TO GROW WITH ANOTHER RECORD DAY THIS WEEK!
HV IV INDEX VS. COMPONENTS
OPTIONS TRADERS AND THE FEDS JACKSON HOLE MTG
EARNINGS VOLATILITY MATTERS

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: MATT MCFARLAND, MIAX EXCHANGE GROUP

VOLATILITY REVIEW

MARKETS GREEN TO END THE WEEK
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
RECORD SPIKES FUTURES VOLUME AGAIN!
UNIQUE TRADING OPPORTUNITIES IN VIX
LOOKING AT EARNINGS VOLATILITY THIS WEEK IN BIDU, BMBL

VOLATILITY VOICE MAIL

ANSWERING YOUR QUESTION ABOUT A CALL RATIO SPREAD IN VIX

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
GUEST: JIM CARROLL, TOROSO ADVISORS

VOLATILITY REVIEW

MARKETS MIXED TO END THE WEEK
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
RECORD SPIKES FUTURES VOLUME!
MIAX JULY MARKET SHARE AND VOLUME RECORDS
LOOKING AT EARNINGS VOLATILITY THIS WEEK
REVIEWING GOOGLE VOLATILITY SEARCH RESULTS

VOLATILITY VOICE MAIL

ANSWERING YOUR QUESTIONS AND COMMENTS ABOUT HOOD OPTIONS, THE SWEET SPOT WHEN TRADING VOLATILITY OPTIONS, AND THE ROLE VOLATILITY PRODUCTS PLAY IN A TRADITIONAL LONG EQUITY PORTFOLIO

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
CO-HOST: TOM JARCK, MIAX EXCHANGE GROUP

VOLATILITY REVIEW

MARKETS RED TO END THE WEEK
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
LOOKING AT EARNINGS VOLATILITY APOCALYPSE IN AMZN

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
CO-HOST: TOM JARCK, MIAX EXCHANGE GROUP

VOLATILITY REVIEW

MARKETS RED TO END THE WEEK
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
LOOKING AT EARNINGS VOLATILITY APOCALYPSE IN AMZN

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT

VOLATILITY REVIEW

MARKETS GREEN TO END THE WEEK
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
BUSY EARNINGS SEASON NEXT WEEK
LOOKED AT EARNINGS VOLATILITY IN LVS, LUV, AAL, TSLA, AAPL, GOOG, MSFT, MCD, F, FB, AMZN, WWE

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT
MIAX HOT SEAT: MATT MCFARLAND, MIAX

VOLATILITY REVIEW

MARKETS RED TO END THE WEEK
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
MIAX VOLUME AND MARKET SHARE RECORDS FOR JUNE
LATEST EARNINGS VOLATILITY SEASON

VOLATILITY VOICEMAIL

ANSWERING YOUR QUESTIONS ABOUT THE SHOW, SPX, AND THE LAUNCH OF CBOE 3-MONTH IMPLIED CORRELATION INDEX

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT
MIAX HOT SEAT: MATT AMBERSON, ORATS

VOLATILITY REVIEW

MARKETS GREEN TO END THE WEEK
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
SPIKES FUTURES VOLUME RECORD
LATEST EARNINGS VOLATILITY SEASON
IS SKEW CHEAP OR EXPENSIVE

VOLATILITY VOICEMAIL

WHAT ONE THING ABOUT THE VOL MARKETS DO WE WISH EVERYONE KNEW

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT
MIAX HOT SEAT: TOM JARCK, MIAX EXCHANGE GROUP

VOLATILITY REVIEW

MARKETS GREEN TO END THE WEEK
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
VIX OUT OF THE DANGER ZONE
JUNE OPTIONS VOLUME NUMBERS FROM OCC
EARNINGS VOLATILITY IN WBA, MU

VOLATILITY VOICEMAIL

ANSWERING YOUR QUESTIONS ABOUT TRACKING VOLATILITY AND POTENTIAL MINI SPIKES PRODUCTS

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT

VOLATILITY REVIEW

MARKETS GREEN TO END THE WEEK
IT'S A VOLATILITY APOCALYPSE
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY

VOLATILITY VOICEMAIL

ANSWERING YOUR QUESTIONS ABOUT VIX AND TRADING STRATEGIES

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: SAAD HUSSAIN, VESICA TECHNOLOGIES

VOLATILITY REVIEW

MARKETS RED TO END THE WEEK
DISCUSSING THE MEME STOCKS SUCH AS AMC, AMD
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
LOOKING AT EARNINGS IN DR, RAD

VOLATILITY VOICEMAIL

ANSWERING YOUR QUESTIONS ABOUT REPLACEMENTS FOR TVIX AND XIV

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: JIM CARROLL, TOROSO ADVISORS

VOLATILITY REVIEW

MARKETS RED TO END THE WEEK
DISCUSSING THE RECENT VOLATILITY ENVIRONMENT
THE REVERSE SPLIT IN VXX AND UVXY
MEME STOCK VOLATILITY
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY

VOLATILITY VOICEMAIL

ANSWERING YOUR QUESTIONS ABOUT VXX CALLS

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: EUAN SINCLAIR, HULL TACTICAL

VOLATILITY REVIEW

MARKETS GREEN TO END THE WEEK
EUAN BREAKING DOWN VOLATILITY IN 2021
TRADERS SEEM TO THINK THAT THEY HAVE TO TRADE MEME STOCKS
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
WHICH DO YOU PREFER FOR A DECAY TRADE: UVXY OR VXX
LOOKING AT EARNINGS IN SPLK, CIEN

VOLATILITY VOICEMAIL

ANSWERING YOUR QUESTIONS ABOUT GME TRADING AND CARRYING SOME UPSIDE VOL POSITIONS

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
MATRIX HOT SEAT: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: DAVE LINCOLN, THE SHORT VOL SHOW

VOLATILITY REVIEW

MARKETS GREEN TO END THE WEEK
POTENTIAL FOR LOWEST LEVEL FOR VIX SINCE PANDEMIC STARTED
WHEN DO WE SWITCH TO A POST-COVID VIX REGIME
SKEW IN VIX OPTIONS HAS SHIFTED FROM CALLS TO PUTS
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
UVXY IS COOL AGAIN
WHAT IS THE BETTER SHORT RIGHT NOW - VXX OR UVXY
LOOKING AT EARNINGS IN SNOW

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
MATRIX HOT SEAT: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: RUSSELL RHOADS, LOYOLA UNIVERSITY / EQ DERIVATIVES

VOLATILITY REVIEW

MARKETS MOSTLY GREEN TO END THE WEEK
WHY YOU SHOULDN'T CARRY VIX OPTIONS INTO SETTLEMENT
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
LOOKING AT EARNINGS IN KSS, BJ, CSCO
DISCUSSING BITCOIN VOLATILITY AND LOOKING AT THE HISTORY OF CORRECTIONS

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
MATRIX HOT SEAT: ANDREW GIOVINAZZI, THE OPTION PIT
MIAX HOT SEAT: TOM JARCK, MIAX EXCHANGE GROUP

VOLATILITY REVIEW SEGMENT

MARKETS GREEN TO END THE WEEK
BREAKING DOWN THE INSANE WEEK IN VOLATILITY
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
LOOKING AT EARNINGS IN DIS, COIN

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT

VOLATILITY REVIEW SEGMENT

MARKETS GREEN TO END THE WEEK
MISSED THE JOBS NUMBERS BY 750K AND YET SPX IS RALLYING
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
LOOKING AT EARNINGS IN MRNA, UBER, PYPL
SOMEHOW DOGECOIN MADE IT'S WAY ONTO THE SHOW

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
MATRIX HOT SEAT: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: MATT MCFARLAND, MIAX EXCHANGE GROUP

VOLATILITY REVIEW SEGMENT

MARKETS RED TO END THE WEEK
VOLATILITY HAS STOPPED DROPPING FOR THE MOMENT
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
LOOKING AT THE EARNINGS SEASON
MIAX AND SIG INDEX LICENSING TO LAUNCH CORPORATE TAX RATE FUTURES ON MGEX ON MAY 24, 2021

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
MIAX HOT SEAT: ANDREW GIOVINAZZI, THE OPTION PIT
MATRIX HOT SEAT: MATT AMBERSON, OPTION RESEARCH AND TECHNOLOGY SERVICES

VOLATILITY REVIEW SEGMENT

MARKETS GREEN TO END THE WEEK
ROBINHOOD TRADERS CHANGING THE CALL SKEW IN THE OPTIONS MARKETS
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
DISCUSSING THE REVERSE SPLIT IN VXX TODAY
LOOKING AT THE EARNINGS SEASON
LOOKING AT THE NEW FREE OPTIONS TOOL FROM MIAX - https://miax.shiftsearch.com

VOLATILITY VOICEMAIL

DISCUSSING WHY BUYING PREMIUM IS NOT WORKING

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
MATRIX HOT SEAT: ANDREW GIOVINAZZI, THE OPTION PIT
MIAX HOT SEAT: JOHN SMOLLEN, MIAMI EXCHANGE GROUP

VOLATILITY REVIEW SEGMENT

MARKETS MOSTLY GREEN TO END THE WEEK
NEW FREE OPTIONS TOOL FROM MIAX - https://miax.shiftsearch.com
TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
DISCUSSING THE UPCOMING REVERSE SPLIT IN VXX
LOOKING AT EARNINGS IN PNC, RAD, PEP, IBM

VOLATILITY VOICEMAIL

DISCUSSING WHETHER EXTREME VOLATILITY COMES IN WAVES

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
MATRIX HOT SEAT: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: SHELLY BROWN, MIAMI EXCHANGE GROUP

VOLATILITY REVIEW SEGMENT

MARKETS MOSTLY GREEN TO END THE WEEK
MIAX SETS NEW MONTHLY MARKET SHARE AND VOLUME IN MARCH
DISCUSSING TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
SPIKES FUTURES MARKET MAKER INCENTIVE PLAN
DISCUSSING VOLATILITY IN THE MARKETPLACE
IS IT TIME FOR A MEME STOCK VOLATILITY INDEX

VOLATILITY VOICEMAIL

DISCUSSING WHAT IS VRO AND WHY YOU SHOULD PAY ATTENTION TO IT

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
MATRIX HOT SEAT: ANDREW GIOVINAZZI, THE OPTION PIT
MIAX HOT SEAT: TOM JARCK, MIAMI EXCHANGE GROUP

VOLATILITY REVIEW SEGMENT

MARKETS MIXED TO END THE WEEK
DISCUSSING TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
SPIKES FUTURES MARKET MAKER INCENTIVE PLAN
DISCUSSING VOLATILITY IN THE MARKETPLACE

VOLATILITY VOICEMAIL

DISCUSSING WHEN VXX AND UVXY ARE GOING TO REVERSE SPLIT, SPIKES OPTIONS AND MORE

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
MIAX HOT SEAT: ANDREW GIOVINAZZI, THE OPTION PIT
MATRIX HOT SEAT: BRIAN OVERBY, ALLY

VOLATILITY REVIEW SEGMENT

MARKETS MIXED TO END THE WEEK
DISCUSSING TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
BREAKING DOWN THE MYSTERIES OF THE VIX FUTURES CURVE
LOOKING AT EARNINGS VOLATILITY IN DG, FIVE, DRI

VOLATILITY VOICEMAIL

DISCUSSING THE HIGHEST VOLATILITY PRODUCT RIGHT NOW (TSLA, GME, BITCOIN, VIX)

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: SIMON HO, T3 INDEX
MATRIX HOT SEAT: MATT AMBERSON, OPTION RESEARCH & TECHNOLOGY SERVICES

VOLATILITY REVIEW SEGMENT

MARKETS MIXED TO END THE WEEK
DISCUSSING TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
LOOKING AT A BITCOIN VOLATILITY OPTIONS TRADE THIS WEEK WITH THE CREATOR OF THE BITVOL INDEX
DISCUSSING HOW TO SET UP CALENDAR SPREADS IN VIX OPTIONS
LOOKING AT EARNINGS VOLATILITY IN ORCL, FSL, NKE

VOLATILITY VOICEMAIL

ANSWERING YOUR QUESTION ABOUT VPIKES

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT

VOLATILITY REVIEW SEGMENT

MARKETS MIXED TO END THE WEEK
LOOKING AT TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
"WE'VE HAD SOME REALLY CRAZY DAYS THIS WEEK BUT VIX JUST KIND OF SEEMS ANEMIC. VOLATILITY FUTURES KIND OF SLEPT THROUGH THIS ENTIRE SELLOFF." - MARK SEBASTIAN
DISCUSSING HOW TSLA IS EVEN MORE VOLATILE POST BITCOIN
TIME FOR A TSLA CATASTROPHE PUT CHECKUP
LOOKING AT EARNINGS VOLATILITY IN COST, WORK AND MORE

VOLATILITY VOICEMAIL

ANSWERING YOUR QUESTIONS ABOUT VOLATILITY IN AAPL, SQQQ, NDX, TSLA, VIX AND MORE

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
MATRIX CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX CO-HOST: TOM JARCK, MIAX EXCHANGE GROUP

VOLATILITY REVIEW SEGMENT

MARKETS MIXED TO END THE WEEK
SPIKES: 26.75 - UP 4.25 FROM LAST SHOW
VIX CASH: 26 - UP 4 FROM LAST SHOW
VVIX: 127 - UP 8.5 FROM LAST SHOW
LOOKING AT TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
EXPLORING THE IMPACT OF RATES ON THE EQUITY VOLATILITY MARKETS
IS THIS A SPIKE OR A SWELL IN THE VOLATILITY MARKET

VOLATILITY VOICEMAIL

ANSWERING YOUR QUESTIONS ABOUT CONTANGO, BACKWARDATION, DIVERGENCE AND THE VIX

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
GUEST: RUSSELL RHOADS, EQ DERIVATIVES

VOLATILITY REVIEW SEGMENT

MARKETS MIXED TO END THE WEEK
SPIKES: 22.5 - UP 1.35 FROM LAST SHOW
VIX CASH: 22 - UP 1.25 FROM LAST SHOW
VVIX: 118.5 - DOWN 2.5 FROM LAST SHOW
LOOKING AT TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
DISCUSSING THE VOLATILITY STORY OF THE YEAR: BITCOIN

VOLATILITY VOICEMAIL

ANSWERING YOUR QUESTION ABOUT SVXY and UVXY

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT
GUEST: JIM CARROLL, TOROSO ADVISORS

VOLATILITY REVIEW SEGMENT

MARKETS MIXED TO END THE WEEK
SPIKES: 21.1 - DOWN .55 FROM LAST SHOW
VIX CASH: 20.75 - DOWN .25 FROM LAST SHOW
VVIX: 121 - UP 13.5 FROM LAST SHOW
LOOKING AT TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
VOLATILITY ETPs MISBEHAVING
EARNINGS VOLATILITY: DIS

VOLATILITY VOICEMAIL

DISCUSSING VXX TRADES

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
GUEST: RUSSELL RHOADS, EQ DERIVATIVES

VOLATILITY REVIEW SEGMENT

MARKETS GREEN TO END THE WEEK
SPIKES: 21.65 - DOWN 13.5 FROM LAST SHOW
VIX CASH: 21 - DOWN 14.25 FROM LAST SHOW
VVIX: 107.52 - DOWN 35.48 FROM LAST SHOW
LOOKING AT TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
GAMESTOP DISCUSSION WITH RUSSELL RHOADS
LIKELIHOOD OF A VIX SHORT SQUEEZE
EARNINGS VOLATILITY IN QCOM, EBAY, PYPL, GRUB, DIS

VOLATILITY VOICEMAIL

DISCUSSING THE DEBACLES IN THE OPTIONS MARKETS AND SHOULD WE FORGET ABOUT VIX

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT

VOLATILITY REVIEW SEGMENT

THIS WEEK GME WAS A VOLATILITY EVENT TO END ALL VOLATILITY EVENTS
MARKETS RED TO END THE WEEK
SPIKES: 35.25 - UP 14.25 FROM LAST SHOW
VIX CASH: 35.25 - UP 14.25 FROM LAST SHOW
VVIX: 143 - UP 29.5 FROM LAST SHOW
LOOKING AT TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
EARNINGS VOLATILITY IN TSLA, AAPL, FB

VOLATILITY VOICEMAIL

DISCUSSING GME AND BROKERS

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
CO-HOST: TOM JARCK, MIAX EXCHANGE GROUP
GUEST: KRIS SIDIAL, THE AMBUS GROUP

VOLATILITY REVIEW SEGMENT

MARKETS RED TO END THE WEEK
SPIKES: 21.5 - DOWN 1.25 FROM LAST SHOW
VIX CASH: 21.5 - DOWN 2 FROM LAST SHOW
VVIX: 113.5 - DOWN 8 FROM LAST SHOW
LOOKING AT TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
VOLATILITY IN SINGLE STOCKS: GME, AAPL, TSLA, F
EARNINGS VOLATILITY IN UAL

VOLATILITY VOICEMAIL

DISCUSSING THE SPIKES, VOLQ AND VIX PRODUCTS

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT
CO-HOST: TOM JARCK, MIAX EXCHANGE GROUP

VOLATILITY REVIEW SEGMENT

MARKETS RED TO END THE WEEK
SPIKES: 22.75 - UP 1 FROM LAST SHOW
VIX CASH: 23.5 - UP 1.75 FROM LAST SHOW
VVIX: 121.5 - UP 12.5 FROM LAST SHOW
LOOKING AT TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
EXPECTED HIGH VOL NEXT WEEK DURING USUAL SLEEPY INAUGURATION TIME
MAJOR VOLATILITY IN RUSSELL 2000
EARNINGS VOLATILITY IN JPM AND NFLX

VOLATILITY VOICEMAIL

DISCUSSING EXPIRING CALLS AND TSLA CATASTROPHE PUTS

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
CO-HOST: SHELLY BROWN, MIAX EXCHANGE GROUP

VOLATILITY REVIEW SEGMENT

MARKETS MIXED TO END THE WEEK
SPIKES: 21.75 - DOWN .75 FROM LAST SHOW
VIX CASH: 21.75 - DOWN .25 FROM LAST SHOW
VVIX: 109 - DOWN 4 FROM LAST SHOW
MIAX 2020 TRADING RESULTS
LOOKING AT TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
OPTIONS VOLUME IN 2020
BUYING TSLA AND BITCOIN
EARNINGS VOLATILITY IN WBA AND BBBY
2020 - THE YEAR OF THE RETAIL TRADER BECOMING A WHALE

VOLATILITY VOICEMAIL

DISCUSSING WHETHER THE MAJOR INDICES WILL END 2021 HIGHER OR LOWER AND ANSWERING YOUR QUESTION ABOUT COMMISSIONS FOR TRADING SPIKES

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT

WE BREAK DOWN ALL OF THE CRAZY HIGHS AND LOWS IN VOLATILITY IN THE INSANE YEAR THAT WAS 2020.

WE ALSO PREDICT WHERE VIX/SPIKES WILL END AT IN 2021.

It's time to count down the top 5 episodes of Volatility Views for 2020. Did your favorite episode make the list? Tune in now to find out...

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT
CO-HOST: TOM JARCK, MIAX

VOLATILITY REVIEW SEGMENT

MARKETS RED TO END THE WEEK
SPIKES: 22.5 - DOWN 2 FROM LAST SHOW
VIX CASH: 22.25 - DOWN 2.25 FROM LAST SHOW
VVIX: 113 - DOWN 4 FROM LAST SHOW
RELAUNCH OF SPIKES FUTURES DECEMBER 14
LOOKING AT TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
TSLA REBALANCE OF SPX/SPY AND ITS IMPACT ON VOLATILITY
VOLATILITY PUTS ARE REALLY CHEAP RIGHT NOW

VOLATILITY VOICEMAIL

DISCUSSING THE STATE OF THE VOLATILITY MARKET AT THE END OF 2020

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
CO-HOST: SHELLY BROWN, MIAX
CO-HOST: SIMON HO, T3 INDEX

VOLATILITY REVIEW SEGMENT

MARKETS RED TO END THE WEEK
SPIKES: 24.5 - UP 3 FROM LAST SHOW
VIX CASH: 24.5 - UP 3.75 FROM LAST SHOW
VVIX: 117 - UP 12 FROM LAST SHOW
RELAUNCH OF SPIKES FUTURES DECEMBER 14
LOOKING AT TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY

VOLATILITY VOICEMAIL

WHY IS VOLATILITY SO ELEVATED
WHY WAS THE APPROVAL OF THE SPIKES FUTURES DELAYED

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT
HOT SEAT: HENRY SCHWARTZ, TRADE ALERT

VOLATILITY REVIEW SEGMENT

MARKETS GREEN TO END THE WEEK
SPIKES: 21.5 - DOWN 1.75 FROM LAST SHOW
VIX CASH: 20.75 - DOWN 1.75 FROM LAST SHOW
VVIX: 105 - DOWN 6.5 FROM LAST SHOW
LOOKING AT TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
BREAKING DOWN NOVEMBER OPTIONS VOLUME FROM MATRIX AND OCC
RETAIL VS INSTITUTIONAL VOLATILITY TRADERS

VOLATILITY VOICEMAIL

ANSWERING YOUR QUESTIONS REGARDING THE VIX.

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

Happy Thanksgiving! We hope you're all enjoying your leftovers and Black Friday shopping deals. We didn't want to leave you hanging for your Volatility Views fix. But we thought we'd take things back to a simpler, pre-pandemic time for today's Holiday "Best Of" episode. So enjoy a return to the seemingly quiet days of January 2020 with Best of Volatility Views: Assassination Volatility.

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
VOLATILITY HOT SEAT: ANDREW GIOVINAZZI, THE OPTION PIT

VOLATILITY REVIEW SEGMENT

MARKETS MIXED RED TO END THE WEEK
SPIKES: 23.25 - DOWN .5 FROM LAST SHOW
VIX CASH: 22.5 - DOWN .5 FROM LAST SHOW
VVIX: 111.5 - DOWN 4.25 FROM LAST SHOW
LOOKING AT TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
VOLATILITY IMPACTED DUE TO THE CONTESTED ELECTION AND COVID-19
EARNINGS VOLATILITY IN NVDA, BJ

VOLATILITY VOICEMAIL

ANSWERING YOUR QUESTIONS ABOUT UVXY AND VXX.

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
MIAX HOT SEAT: ANDREW GIOVINAZZI, THE OPTION PIT
MATRIX HOT SEAT: MATT AMBERSON, OPTION RESEARCH & TECHNOLOGY SERVICES

VOLATILITY REVIEW SEGMENT

MARKETS GREEN TO END THE WEEK
SPIKES: 23.75 - DOWN 2.5 FROM LAST SHOW
VIX CASH: 23 - DOWN 2.75 FROM LAST SHOW
VVIX: 115.75 - UP 2.25 FROM LAST SHOW
LOOKING AT TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
THE RUSSELL 2000 WHALE
MIAX OCTOBER OPTIONS TRADING RESULTS
EARNINGS VOLATILITY IN $DIS $HD $LOW $TGT

VOLATILITY VOICEMAIL

ANSWERING YOUR QUESTION ABOUT AVOIDING THE VOLATILITY OF THE EARNINGS SEASON.

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MATRIX CO-HOST: PAUL ANDERSON, CERULEAN TRADING

VOLATILITY REVIEW SEGMENT

MARKETS RED TO END THE WEEK
SPIKES: 26.25 - DOWN 12.75 FROM LAST SHOW
VIX CASH: 25.75 - DOWN 12.75 FROM LAST SHOW
VVIX: 113.5 - DOWN 36.5 FROM LAST SHOW
LOOKING AT TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
LOOKING AT VOLATILITY IN 2020

VOLATILITY VOICEMAIL

ANSWERING YOUR QUESTION ABOUT VOLATILITY AND THE ELECTION.

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX CO-HOST: TOM JARCK, MIAX
GUEST CO-HOST: BRIAN OVERBY, ALLY

VOLATILITY REVIEW SEGMENT

MARKETS RED TO END THE WEEK
SPIKES: 39 - UP 10.25 FROM LAST SHOW
VIX CASH: 38.5 - UP 10.25 FROM LAST SHOW
VVIX: 150 - UP 30.5 FROM LAST SHOW
LOOKING AT TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
BREAKING DOWN A TON OF EARNINGS VOLATILITY IN FB, AAPL, AMZN, GOOGL, TWTR AND MORE

VOLATILITY VOICEMAIL

ANSWERING YOUR QUESTION ABOUT EXPECTED/IMPLIED OPTIONS MOVES

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: PAT HENNESSY, IPS STRATEGIC CAPITAL

VOLATILITY REVIEW SEGMENT

MARKETS SLIGHTLY RED TO END THE WEEK
SPIKES: 28.75 - UP 2.65 FROM LAST SHOW
VIX CASH: 28.25 - UP 1.5 FROM LAST SHOW
VVIX: 119.5 - UP 3.5 FROM LAST SHOW
LOOKING AT TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
ELECTION VOLATILITY
EARNINGS VOLATILITY IN TSLA AND LUV

VOLATILITY VOICEMAIL

YOUR QUESTIONS AND COMMENTS ABOUT THE UVXY WHALE, VIX OPTIONS AND THE NEXT BIG VOL PRODUCT

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: JOHN SMOLLEN, MIAX EXCHANGE GROUP
GUEST: JAMES MCDONALD, HERCULES INVESTMENTS

VOLATILITY REVIEW SEGMENT

MARKETS SLIGHTLY GREEN TO END THE WEEK
SPIKES: 26.10 - UP 1.1 FROM LAST SHOW
VIX CASH: 26.75 - UP 1.45 FROM LAST SHOW
VVIX: 116 - UP 8 FROM LAST SHOW
LOOKING AT TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
MIAX SEPTEMBER OPTIONS VOLUME NUMBERS
DISCUSSION WITH A SIZE UVXY OPTIONS TRADER

VOLATILITY VOICEMAIL

YOUR THOUGHTS ON UVXY AS A RELIABLE TRADING PRODUCT

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT

VOLATILITY REVIEW SEGMENT

MARKETS GREEN TO END THE WEEK
SPIKES: 25 - DOWN 4 FROM LAST SHOW
VIX CASH: 25.25 - DOWN 2.2 FROM LAST SHOW
VVIX: 108.2 - UP 4.4 FROM LAST SHOW
LOOKING AT TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
ELECTION VOLATILITY
OPTIONS VOLUME NUMBERS FOR SEPTEMBER FROM OPTIONS CLEARING
DPZ EARNINGS VOLATILITY
GME VOLATILITY DUE TO MSFT PARTNERSHIP

VOLATILITY VOICEMAIL

ANSWERING YOUR QUESTIONS ON

CIRCUIT BREAKERS AND CLOSING AUCTIONS
LAST DAY OF OPTION EXPIRY
THE VOL WHALE 50 CENT

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: JON CHERRY, NORTHERN TRUST

VOLATILITY REVIEW SEGMENT

MARKETS RED TO END THE WEEK
SPIKES: 29 - UP .1 FROM LAST SHOW
VIX CASH: 27.4 - DOWN .6 FROM LAST SHOW
VVIX: 103.8 - UP 1.3 FROM LAST SHOW
LOOKING AT TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
IS TRUMP'S COVID-19 DIAGNOSIS IMPACTING VOLATILITY
PREFERRED METHOD FOR TRADING S&P500

VOLATILITY VOICEMAIL

ANSWERING YOUR QUESTIONS ON

THE BEST VIX CALENDAR OR VERTICAL STRATEGY TO TAKE ADVANTAGE OF THE ELECTION EVENT
GOOD VIX PUT STRATS
MONEY MANAGERS USING VOLATILITY AS A HEDGE FOR THEIR CLIENT'S PORTFOLIO

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

VOLATILITY VIEWS 416: IF THESE VOLATILITY TRADES WIN THEN WE ALL LOSE

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT

VOLATILITY REVIEW SEGMENT

MARKETS GREEN TO END THE WEEK
MIAX PEARL EQUITIES LAUNCHES TODAY
SPIKES: 28.9 - UP 2.4 FROM LAST SHOW
VIX CASH: 28 - UP 1.5 FROM LAST SHOW
VVIX: 102.5 - UP 3.5 FROM LAST SHOW
LOOKING AT TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
INTRADAY VOLATILITY IN APPLE
HOW THE UPCOMING ELECTION IS IMPACTING THE VIX AND VOLATILITY

VOLATILITY VOICEMAIL

ANSWERING YOUR QUESTIONS ON UVXY, SVXY AND SPX PUT SKEW VS. VIX CALL SKEW

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

VOLATILITY VIEWS 415: THE LOOMING SPECTER OF ELECTION VOLATILITY

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX CO-HOST: TOM JARCK, VOLATILITY PRODUCTS SPECIALIST, MIAX
GUEST: LUKE RAHBARI, CEO, EQUITY ARMOR INVESTMENTS

VOLATILITY REVIEW SEGMENT

MARKETS SLIGHTLY RED TO END THE WEEK
SPIKES: 25.5 - DOWN 1.25 FROM LAST SHOW
VIX CASH: 26.5 - DOWN 1.25 FROM LAST SHOW
VVIX: 99 - DOWN 17.75 FROM LAST SHOW
LOOKING AT TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY
THE IMPACT OF THE SOFTBANK WHALE ON VOLATILITY
RISK MIGRATE IN VIX FUTURES INDICATING STRONG POST-ELECTION CONCERN
TREAT VIX OPTIONS AS BINARY OPTIONS HEADING INTO ELECTION

VOLATILITY VOICEMAIL

ANSWERING YOUR QUESTIONS ON SPIKES FUTURES AND VXX

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK

Volatility Views 414: Talking VIX, SPIKES, VXX, UVXY and Even Some Whales

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT

VOLATILITY REVIEW SEGMENT

MARKETS MIXED TO END THE WEEK
SPIKES: 27.75 - DOWN 5 FROM LAST SHOW
VIX CASH: 27.75 - DOWN 4 FROM LAST SHOW
VVIX: 116.75 - DOWN 7.75 FROM LAST SHOW
EARNINGS DISCUSSION ON GME, CHWY, PTON, ORCL
LOOKING AT TOP TRADES OF THE WEEK IN VIX, SPIKES, VXX AND UVXY

VOLATILITY VOICEMAIL

ANSWERING YOUR QUESTIONS ON THE SOFTBANK WHALE, GME VS. BBBY AND VOLQ.

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

VOLATILITY VIEWS 413: UNPRECEDENTED VOLATILITY

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: SHELLY BROWN, MIAX EXCHANGE GROUP

VOLATILITY REVIEW SEGMENT

MARKETS FIRMLY IN THE RED
SPIKES: 32.75 - UP 8.25 FROM LAST SHOW
VIX CASH: 31.75 - UP 7.25 FROM LAST SHOW
VVIX: 124.5 - UP 7 FROM LAST SHOW
MIAX AUGUST EQUITY OPTIONS VOLUME
EARNINGS DISCUSSION ON FIVE
LOOKING AT VIX, SPIKES, VXX, UVXY TOP TRADES OF THE WEEK
AAPL AND TSLA STOCK SPLIT
COULD SOFTBANK BE THE NASDAQ OPTIONS WHALE

VOLATILITY VOICEMAIL

ANSWERING YOUR QUESTIONS ON RETAIL CALL OPTION AND VOLQ

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

VOLATILITY VIEWS 412: VOLATILITY WHACK-A-MOLE

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: JIM CARROLL, TOROSO ADVISORS

VOLATILITY REVIEW SEGMENT

THE FED HAS WASHED ITS HANDS OF INFLATION SO THE PARTY IS ON FOR THE MARKET!
SPIKES: 24.5 - UP 1.35 FROM LAST SHOW
VIX CASH: 24.5 - UP 2.25 FROM LAST SHOW
VVIX: 117 - UP 3 FROM LAST SHOW
MARKET VOLATILITY IMPACTED BY FED SPEECH AND UPCOMING ELECTION
WEIRD VIX PRINTS
EARNINGS DISCUSSION ON ZM, FIVE
LOOKING AT VIX, SPIKES, VXX, UVXY TOP TRADES OF THE WEEK
UPCOMING AAPL AND TSLA STOCK SPLIT

VOLATILITY VOICEMAIL

ANSWERING YOUR QUESTIONS ON TESLA OPTIONS VOLATILITY

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

VOLATILITY VIEWS 411: ELECTION VOLATILITY - WORTH IT OR WASTE OF MONEY?

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT
MIAX HOT SEAT: TOM JARCK, MIAX EXCHANGE

VOLATILITY REVIEW SEGMENT

MARKETS SLIGHTLY IN THE GREEN TO END THE WEEK
SPIKES: 23.15 - UP .15 FROM LAST SHOW
VIX CASH: 22.5 - UP .5 FROM LAST SHOW
VVIX: 114 - UNCHD FROM LAST SHOW
MGEX TO JOIN MIAX EXCHANGE GROUP
EARNINGS DISCUSSION ON NVDA, BABA, BBY

VOLATILITY VOICEMAIL

ANSWERING YOUR QUESTIONS ON THE NEW VOLQ AND THE OTC VOL NETWORK VS. THE LISTED VOL MARKET

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

Volatility Views 410: Hedging the Apocalypse...or Starting It?

HOST: MARK LONGO, OPTIONS INSIDER MEDIA GROUP
CO-HOSTS: MATT AND MIKE THOMPSON, MANAGING PARTNERS, THOMPSON CAPITAL
MIAX HOT SEAT: JIM CARROLL, SENIOR VICE PRESIDENT & PORTFOLIO MANAGER AT TOROSO ADVISORS

Discussion Topics:
- Insane VIX term structure.
- The upcoming Nasdaq volatility future.
- Apocalyptic VIX options hedges?
- The Earnings volatility malaise
- Your outlook for end-of-year volatility
- Our Crystal Ball picks
- and much more

VOLATILITY VIEWS 409: REVENGE OF THE VIKING

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: SHELLY BROWN, MIAX EXCHANGE

VOLATILITY REVIEW SEGMENT

JOBS NUMBERS NOT BOOSTING THE MARKET TODAY
SPIKES: 23.25 - DOWN 2.5 FROM LAST SHOW
VIX CASH: 22.4 - DOWN 3.1 FROM LAST SHOW
VVIX: 106 - DOWN 8.5 FROM LAST SHOW
MIAX EXCHANGE GROUP JULY OPTIONS VOLUME
EARNINGS DISCUSSION ON $DIS, $ROKU, $ETSY, YETI
GOOGLE TRENDS FOR VOLATILITY
VSPIKE COMING SOON FROM MIAX

VOLATILITY VOICEMAIL

ANSWERING YOUR QUESTIONS ON SPIKES FUTURES AND MIDCHAINS

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

VOLATILITY VIEWS 408: THE NITTY GRITTY OF IMPLIED VOLATILITY

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: BRIAN OVERBY, ALLY INVEST

VOLATILITY REVIEW SEGMENT

ECONOMIC IMPLOSION WEIGHING ON THE MARKET WHILE STRONG TECH EARNINGS BOOSTING THE MARKET.
SPIKES: 25.75 - DOWN 1.25 FROM LAST SHOW
VIX CASH: 25.5 - DOWN 1.4 FROM LAST SHOW
VVIX: 114.5 - DOWN 5.2 FROM LAST SHOW
EARNINGS DISCUSSION ON AAPL, FB, GILD, GOOGL, AMZN, EA, CBOE, WWE
TALKING ABOUT THE Q2 SLUMP IN TRADING THE VIX COMPLEX.

VOLATILITY VOICEMAIL

ANSWERING YOUR QUESTIONS ON THE PROPER METHODOLOGY TO CALCULATE IMPLIED VOLATILITY

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

VOLATILITY VIEWS 407: JUICY INVERSIONS AND GAPING CHASMS

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT

VOLATILITY REVIEW SEGMENT

DISCUSSING FINDINGS BY GOLDMAN SACHS THAT FOR THE FIRST TIME EVER THE DERIVATIVE IS MORE LIQUID AND POPULAR THAN THE UNDERLYING.
WITH THE PROLIFERATION OF WEEKLY OPTIONS, AND INCREASED FOCUS ON USING OPTIONS TO TRADE CATALYSTS, SINGLE STOCK OPTIONS WITH MATURITIES LESS THAN 2 WEEKS NOW COMPRISE 75% OF ALL MATURITIES, UP FROM 65% A YEAR AGO.
SPIKES: 27 - UP 1.75 FROM LAST SHOW
VIX CASH: 26.9 - UP .65 FROM LAST SHOW
VVIX: 119.7 - UP 4.7 FROM LAST SHOW
EARNINGS DISCUSSION ON INTC, MSFT, EBAY, GOOGL

VOLATILITY VOICEMAIL

ANSWERING YOUR QUESTION ON THE VIX CASH TERM STRUCTURE

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

VOLATILITY VIEWS 407: TIME FOR A VIX SCOOP?

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: DAVID LINCOLN, VIX CRUSH

VOLATILITY REVIEW SEGMENT

TALKING ABOUT THE MASSIVE BUMP IN VIX FUTURES TERM STRUCTURE AROUND THE UPCOMING ELECTIONS
SPIKES: 25.25 - DOWN 3.25 FROM LAST SHOW
VIX CASH: 26.25 - DOWN 1.25 FROM LAST SHOW
VVIX: 115 - UP 3 FROM LAST SHOW
TALKING ABOUT TVIX LIVING ON IN THE OTC AFTERLIFE NOW AND THE IMPACT ON UVXY & SVXY
EARNINGS DISCUSSION ON NFLX, MSFT, TWTR

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

VOLATILITY VIEWS 406: EARNINGS VOLATILITY PREVIEW - NFLX, ABT, BAC AND MORE

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: MATT AMBERSON, OPTION RESEARCH AND TECHNOLOGY SERVICES

VOLATILITY REVIEW SEGMENT

A STRANGE END TO A STRANGE WEEK
STOCKS WERE POISED TO END LOWER BUT POSITIVE NEWS FROM GILEAD SEEMS TO BE REVERSING THE TREND
SPIKES: 28.5 - DOWN 5.5 FROM LAST SHOW
VIX CASH: 27.5 - DOWN 6.5 FROM LAST SHOW
VVIX: 112 - DOWN ALMOST 20 FROM LAST SHOW
DISCUSSION OF HIGH IMPLIED EARNINGS, MANY CUTS AND EXPECTED CUTS TO DIVIDENDS AND RETAIL CALL/PUT RATIOS

VOLATILITY VOICEMAIL

ANSWERING YOUR QUESTIONS ON TLT AND VOLATILITY PRODUCT RECOMMENDATIONS

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

Happy Fourth of July! What better way to celebrate than by flashing back to 2012 for a "Best Of" episode of Volatility Views. Enjoy and stay safe out there...

Volatility Views 46: Volatility Discussion with the Godfather

Volatility Review: Slaughter of the VIX April future, with May poised for the same. Credit Suisse released more creation units and TVIX crushed long positions - going from 13 to 6.5 in a week. Euro vol review -- March 1- and 3-month contracts expired last week. NASDAQ vol update.

Volatility Viewpoint: Mark, Bob, and Mark have the great pleasure to discuss volatility with the Godfather: Anthony Neuberger, Professor of Finance at Warwick Business School. The gang discusses his seminal paper, "The Log Contract and Other Power Contracts.” They also discuss tail risk and skew risk. Mark asks Prof. Neuberger if the market is correctly pricing in tail risk.

Crystal Ball: Sebastian sees VIX staying between 14 and 16, with a lot of erosion in VXX. Watch out for contango. Euro vol is a coin flip right now. NASDAQ vol might be too expensive right now because of Apple.

VOLATILITY VIEWS 405: THE DEATH OF TVIX

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: SHELLY BROWN, MIAX
GUEST: RUSSELL RHOADS, EQ DERIVATIVES

VOLATILITY REVIEW SEGMENT

THE VOLATILITY MARKET WAS TURNED ON ITS HEAD THIS WEEK
CREDIT SUISSE GETS OUT OF THE ETN BUSINESS - TVIX IS NO MORE
BIGGEST VOLATILITY ETN GETS A COPYCAT WITHIN HOURS OF ITS DEMISE
SPIKES: 34 - UP .75 FROM LAST SHOW
VIX CASH: 35 - UP 1.5 FROM LAST SHOW
VVIX: 131.5 - DOWN 5.5 FROM LAST SHOW

VOLATILITY VOICEMAIL

ANSWERING YOUR QUESTIONS ON $MSVX - THE NEW VOLATILITY FUND AND IMPLIED VOLATILITY.

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

VOLATILITY VIEWS 404: LAUNCHING NEW VOL PRODUCTS IN A PANDEMIC

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: TOM JARCK, VOLATILITY PRODUCTS SPECIALIST, MIAX
GUESTS: MATT AND MIKE THOMPSON, MANAGING PARTNERS, THOMPSON CAPITAL

VOLATILITY REVIEW SEGMENT

A MIXED END TO ANOTHER STRANGE WEEK: A STRANGE END TO A STRANGE WEEK WHERE NEITHER BULLS NOR BEARS COULD REALLY FIND THEIR FOOTING
TRADERS COULD BE IN FOR A WILD RIDE ON FRIDAY BECAUSE OF A COUPLE TECHNICAL FACTORS. THE S&P 500 WILL HAVE ITS FIRST REBALANCING OF THE YEAR AT FRIDAY’S CLOSE AND VOLATILITY COULD ALSO BE HEIGHTENED FRIDAY BY QUADRUPLE WITCHING.
SPIKES: 33.25 - DOWN 7.25 FROM LAST SHOW
VIX CASH: 33.5 - DOWN 6.25 FROM LAST SHOW
VVIX: 137 - DOWN 18 FROM LAST SHOW

VOLATILITY VOICEMAIL

QUESTION FROM MELLON: HAVE YOU SEEN AN UPTICK IN SPX AND VIX PAPER SINCE THE PITS CAME BACK?
QUESTION FROM PEAR A SOL: WHY ARE VIX FUTURES TRADING SO LITTLE THESE DAYS? WOULD SEEM TO BE A BOOM TIME FOR VOLATILITY TRADING AND VOLATILITY PRODUCTS?
QUESTION FROM DAVID LINCOLN: QUESTION FOR ALL YOU $VIX EXPERTS: HOW HIGH DOES THE MARKET NEED TO RIP TO THE UPSIDE FOR THE VIX TO GO TO UNCHED ON THE DAY?

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

VOLATILITY VIEWS 403: SCREAMING INDECISION

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: JIM CARROLL, TOROSO ADVISORS

VOLATILITY REVIEW SEGMENT

THE RALLY TOOK A DARK TURN THIS WEEK: THE MARKET SEEMINGLY COLLECTIVELY AWAKENED TO THE ECONOMIC IMPACT POSED BY THE CORONAVIRUS.
FED SPOOKS THE BULL: JEROME POWELL SAID WE HAVE “A LONG ROAD AHEAD” AND “ WE’RE NOT EVEN THINKING ABOUT THINKING ABOUT RAISING RATES”
SPIKES: 40.5 - UP 19 FROM LAST SHOW
VIX CASH: 39.75 - UP 18.5 FROM LAST SHOW
VVIX: 155 - UP 48 FROM LAST SHOW
CBOE PLANS TO RELAUNCH MINI VIX FUTURES

VOLATILITY VOICEMAIL

QUESTION FROM TONY WEBER: WHAT DO YOU THINK ABOUT SELLING JUL21 VIX, BUYING NOV17 VIX 60 STRIKE CALENDAR FOR 1.0 CREDIT? AM I HEADING FOR A HTZ DOUGHNUT?
QUESTION FROM NEALS2: DO YOU THINK THE IMPLOSION OF THE CANADIAN VOL FUND WILL SPOOK OTHER PENSION AND HEDGE FUNDS AND KEEP THEM FROM ENTERING THE VOLATILITY MARKET?

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

Volatility Views 402: The Death Knell For Volatility?

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT
MIAX HOT SEAT: JOHN SMOLLEN, MIAX EXCHANGE GROUP

VOLATILITY REVIEW SEGMENT

AN EXPLOSIVE END TO THE WEEK FINALLY MOVES US AWAY FROM THE 30 STRIKE: JOB NUMBERS BLOW THE DOORS OFF
SPIKES: 24.5 - DOWN 5.5 FROM LAST SHOW
VIX CASH: 24.25 - DOWN 5.5 FROM LAST SHOW
VVIX: 107 - DOWN 1.5 FROM LAST SHOW

VOLATILITY VOICEMAIL

QUESTION FROM R. RYAN: WHAT’S THE LATEST ON SPIKES FUTURES AND THE VIKING INDEX?
QUESTION FROM SAMURAI8: ARE THERE ANY PLANS FOR A SKEW INDEX ON $SPY BY THE $SPIKES TEAM?
QUESTION FROM HIGHLAND: CAN THERE BE A COMMODITY SPIKES INDEX LIKE MAYBE FOR OIL?

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

Volatility Views 401: The Return of Volatility?

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT
MIAX HOT SEAT: RUSSELL RHOADS, EQ DERIVATIVES

VOLATILITY REVIEW SEGMENT

CAN TRUMP/CHINA/TAIWAN DO WHAT A TRADE WAR AND A PANDEMIC COULD NOT - DERAIL THE BULL?
A MIXED END TO A MOSTLY POSITIVE WEEK.
SPIKES: 30 - UNCHD FROM LAST SHOW
VIX CASH: 29.75 - DOWN .25 FROM LAST SHOW
VVIX: 108.5 - DOWN 11.5 FROM LAST SHOW

VOLATILITY VOICEMAIL

ANSWERING YOUR QUESTIONS ON VXX PUTS AND CRUDE VOLATILITY.

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

Volatility Views 400: When it Comes to Vol We've Done it All

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: TOM JARCK, VOLATILITY PRODUCTS SPECIALIST, MIAX

VOLATILITY REVIEW SEGMENT

ANOTHER MIXED END TO A MIXED WEEK
THE STREET CONTINUES HAVING A HARD TIME COMING TO GRIPS WITH THE CURRENT ENVIRONMENT
CHINESE CRACKDOWN ON HONG KONG WEIGHING ON THE MARKET TODAY.
SPIKES: 30 - DOWN 3 FROM LAST SHOW
VIX CASH: 29.6 - DOWN 2.9 FROM LAST SHOW
VVIX: 120 - DOWN 16 FROM LAST SHOW

VOLATILITY VOICEMAIL

CONGRATS FROM MAC: Sending you well wishes on your epic 400th episode. This is my favorite podcast.
QUESTION FROM MJAFARI: VXN of the last 30 days has encompassed the forward 30 days for the last 14 days. Meaning that the forward daily NDX moves did not exceed what the average back 30 days said the daily moves would be. This has happened 5 times since ‘07. Given this do you think a 30 day ATM straddle in NDX would be wise? Worth mentioning that the last 2 times this happens it also lasted 14 days.
QUESTION FROM MADMEN: Loving the show. Can’t believe I didn’t know about it before. Shame on me. Any color on OTC var/vol trades this week?

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

Volatility Views 399: Volatility Fun-Ness Abounds

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: HENRY SCHWARTZ, TRADE ALERT

VOLATILITY REVIEW SEGMENT

A MIXED END TO A MIXED WEEK
THE STREET HAVING A HARD TIME COMING TO GRIPS WITH THE CURRENT ENVIRONMENT - WEAK EARNINGS, DIRE ECONOMIC OUTLOOK, GROWING ISSUES WITH CHINA.
YET THE BULL IS STILL FIGHTING TO SHOW ITSELF.
OPEN TABLE SAYING ¼ OF RESTAURANTS WILL NEVER REOPEN.
VOL FIRMING UP EVEN AS MARKETS REMAIN SOMEWHAT MIXED
SPIKES: 33 - UP 2.8 FROM LAST SHOW
VIX CASH: 32.5 - UP 3.5 FROM LAST SHOW
VVIX: 136 - UP 20 FROM LAST SHOW

VOLATILITY VOICEMAIL

QUESTION FROM PLAYBOOK3: WHAT IMPACT DO YOU THINK FLOORS OPENING UP AGAIN WILL HAVE ON VOLATILITY?
RELATED QUESTION FROM NELLE: WOULD VIX HAVE HIT 80 IF THE MARKET WASN'T FULLY ELECTRONIC?
QUESTION FROM TIM: HOW IS THE EARNINGS SEASON SHAPING UP?
QUESTION FROM 56IT: WHAT IS THE STATUS OF SVIX?

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

Volatility Views 398: All is Right With the World Again?

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: TOM JARCK, VOLATILITY PRODUCTS SPECIALIST, MIAX

VOLATILITY REVIEW SEGMENT

NASDAQ WENT GREEN ON THE YEAR!
THE MONTHLY REPORT ON THE EMPLOYMENT SITUATION IN THE U.S. SHOWED THAT 20.5 MILLION JOBS WERE ELIMINATED LAST MONTH, AND THE UNEMPLOYMENT RATE ROCKETED 14.7% FROM A 50-YEAR LOW OF ONLY 3.5% TWO MONTHS AGO AND 4.4% LAST MONTH.
SPIKES: 30.2 - DOWN 8 FROM LAST SHOW
VIX CASH: 29 - DOWN 9 FROM LAST SHOW
VVIX: 116 - DOWN 5 FROM LAST SHOW
LOOKING AT EARNINGS VOLATILITY THIS WEEK PARTICULARLY IN GRUB, PYPL

VOLATILITY VOICEMAIL

QUESTION FROM LANCE: HELLO VOL CREW. LONG TIME FIRST TIME. LOVE MY VOL VIEWS WEEKLY FIX. I’VE EVEN TRADED SOME SPIKES! JUST WANTED TO SEE IF YOU GUYS CAUGHT THIS AND IF SO WHAT YOU THOUGHT OF IT? I THOUGHT THE CANADIANS WERE VOL SAVVY? - AIMCO’S $3 BILLION VOLATILITY TRADING BLUNDER

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

VOLATILITY VIEWS 397: Floor Traders vs. Volatility, Plus TSLA, AMZN, AAPL & More

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: DAVID LINCOLN, VIX CRUSH

VOLATILITY REVIEW SEGMENT

APRIL WAS A GOOD MONTH FOR STOCKS
MARKET RALLIED EARLIER IN THE WEEK OFF HOPE FOR GILLEAD’S CORONAVIRUS TREATMENT. NOW THAT RALLY IS FADING IN THE WAKE OF RENEWED TRADE HOSTILITIES WITH CHINA.
ECONOMY STRUGGLING
SPIKES: 38.5 - UP 1 FROM LAST SHOW
VIX CASH: 38 - UP .75 FROM LAST SHOW
VVIX: 121 - UP 4 FROM LAST SHOW
CBOE PLANS REOPENING OPTIONS FLOORS JUNE 1
OCC APRIL VOLUME: FUTURES DOWN 52.1 FROM APRIL 2019
LOOKING AT EARNINGS VOLATILITY THIS WEEK PARTICULARLY IN TESLA (AND MUSK’S FOLLOW UP RANT), AMZN, AAPL AND MORE.

VOLATILITY VOICEMAIL

QUESTION FROM EDSON: WHY DO YOU THINK SO MANY FIRMS ARE UNDERPRICING VOLATILITY THIS EARNINGS SEASON?

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

VOLATILITY VIEWS 396: THE CRUDE VOLATILITY WHIRLWIND

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: TOM JARCK, MIAX EXCHANGE GROUP
MIAX HOT SEAT: SHELLY BROWN, MIAX EXCHANGE GROUP
GUEST CO-HOST: MATT AMBERSON, OPTION RESEARCH & TECHNOLOGY SERVICES

VOLATILITY REVIEW SEGMENT

SO MUCH FOR THE CURE: MARKET RALLIED LAST WEEK OFF HOPE FOR GILEAD'S CORONAVIRUS TREATMENT. THIS WEEK NOT SO MUCH.
CRUDE OIL APOCALYPSE: WE ALL DISCOVERED THAT WTI CAN GO NEGATIVE
SPIKES: 37.5 - DOWN 1.5 FROM LAST SHOW
VIX CASH: 37.25 - DOWN 1.75 FROM LAST SHOW
VVIX: 117 - DOWN 10 FROM LAST SHOW
LOOKING AT EARNINGS VOLATILITY THIS WEEK. THE EARNINGS SEASON HAS RETURNED LITTLE SO FAR TO VOLATILITY BUYERS.

VOLATILITY VOICEMAIL

QUESTION FROM JACK: WHY IS VXX UP THIS WEEK
QUESTION FROM NEILP: IS IT WORTH IT TO SELL IRON CONDORS ONE WEEK BEFORE EARNINGS AND THEN CLOSE THEM THE DAY BEFORE, OR MAYBE RIGHT BEFORE, THE EARNINGS ANNOUNCEMENT? MAYBE I’M JUST SPINNING MY WHEELS HERE.
QUESTION FROM JJC: WHY HAS NO OTHER FLAVOR OF VIX REALLY CAUGHT ON WITH THE TRADING WORLD? VIX IS A HUGE HIT BUT OTHER VARIANTS AND ITERATIONS NOT SO MUCH.

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

Volatility Views 395: A CURE FOR VOLATILITY?

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: TOM JARCK, MIAX EXCHANGE GROUP
MIAX HOT SEAT: SHELLY BROWN, MIAX EXCHANGE GROUP
GUEST CO-HOST: ILYA FEYGIN, WALLACHBETH CAPITAL

VOLATILITY REVIEW SEGMENT

THE CURE?: MARKET IS RALLYING TODAY OFF STRONG RESULTS FOR GILLEAD’S CORONAVIRUS TREATMENT.
ALTHOUGH PERHAPS NOT THE “CURE RALLY” WE EXPECTED
SPIKES: 39 - DOWN 10 FROM LAST SHOW
VIX CASH: 39 - DOWN 10 FROM LAST SHOW
VVIX: 127 - DOWN 18 FROM LAST SHOW

VOLATILITY VOICEMAIL

QUESTION FROM NIC: EVERYONE'S LOOKING AT WAYS TO GET LONG NOW INCLUDING STOCK SUBSTITUTION STRATS LIKE THE FIG LEAF. BUT WHY DOES NO ONE TALK ABOUT STOCK SUBSTITUTION IN VOL PRODUCTS? OR I GUESS IT WOULD BE FUTURES SUBSTITUTION INSTEAD. GREAT SHOW.
QUESTION FROM NIC: I’M ONLY TRADING WEEKLIES RIGHT NOW TO AVOID WEEKEND VOLATILITY. AM I BEING PARANOID?

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

Volatility Views 394: Vol Man Is Sad

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: TOM JARCK, MIAX EXCHANGE GROUP
MIAX HOT SEAT: SIMON HO, T3 INDEX

VOLATILITY REVIEW SEGMENT

TERRIBLE NONFARMS -AS EXPECTED
HIGHEST VOLUME MONTH EVER FOR U.S. EQUITY OPTIONS INDUSTRY
SPIKES: 49 - DOWN 14.5 FROM LAST SHOW
VIX CASH: 49 - DOWN 15 FROM LAST SHOW
VVIX: 145 - DOWN 30 FROM LAST SHOW

VOLATILITY VOICEMAIL

QUESTION FROM ADAM: IS IT SAFE TO START BUYING OPTIONS AGAIN IN VXX? HAS THE VOL CRASH HAPPENED YET?

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

Volatility Views 393: Volatility and Vegan Meatballs

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: SHELLY BROWN, EXECUTIVE VP, MIAX

VOLATILITY REVIEW SEGMENT

$2T STIMULUS APPROVED BY HOUSE - HEADED TO TRUMP FOR SIGNATURE.
THE MOTHER OF ALL DEAD CAT BOUNCES?
SPIKES: 63.5 - UNCHD FROM LAST SHOW
VIX CASH: 64 - UNCHD FROM LAST SHOW
VVIX: 175.5 - DOWN 13 FROM LAST SHOW

VOLATILITY VOICEMAIL

QUESTION FROM PANKASE: WHAT ARE YOUR THOUGHTS ABOUT PLAYING IN LONGER-TERM VOL HERE - 1YR PLUS OUT. WORTH IT OR NOT ENOUGH VEGA BANG FOR YOUR BUCK?
QUESTION FROM ALEX LUNDGREN: WILL SOMEONE PLEASE EXPLAIN THE $VIX AND APRIL FUTURE DISCONNECT TO ME??

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

Volatility Views 392: HOW MUCH VOLATILITY CAN WE HANDLE?

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: SHELLY BROWN, EXECUTIVE VP, MIAX
MIAX HOT SEAT: TOM JARCK, VOLATILITY PRODUCTS SPECIALIST, MIAX
GUEST CO-HOST: EUAN SINCLAIR, PARTNER, TALTON CAPITAL MANAGEMENT

VOLATILITY REVIEW SEGMENT

HERE WE GO AGAIN! YET ANOTHER CRAZY VOLATILITY WEEK ON THE BOOKS.
CALIFORNIA LOCKED DOWN, NEW YORK BANNING EMPLOYEES FROM GOING TO WORK: YET THE MARKET WAS RALLYING.
VOLATILITY PRODUCTS HITTING ABSURD LEVELS ACROSS THE BOARD - TVIX HIT 969 ON 3/18, VXX HIT 77 ON 3/18, ETC.
SPIKES: 63.5
VIX CASH: 64
VVIX: 188.75

VOLATILITY VOICEMAIL

QUESTION FROM MATT: I KNOW VOLATILITY HAS NO THEORETICAL LIMIT. IT CAN ALWAYS GO TO A MILLION. BUT IS THERE A PRACTICAL CEILING WHERE YOU THINK VIX CAN’T REALLY GET ABOVE? NOT WITHOUT THE WORLD FALLING APART.
QUESTION FROM TOG: HELLO VOL CREW. WHAT ARE YOUR THOUGHTS ON GETTING BACK ON THE SHORT VXX TRAIN.

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

Volatility Views 391: Once More Unto the Breach

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: SIMON HO, CEO, T3 INDEX

VOLATILITY REVIEW SEGMENT

HOT ON THE HEELS OF THE WORST SELLOFF SINCE 1987
A HISTORIC WEEK FROM ANY PERSPECTIVE!
CME CLOSED ITS TRADING FLOOR TO START THE WEEK
NOW CBOE IS FOLLOWING SUIT AFTER TODAY
SPIKES: 70 - UP 23 FROM LAST SHOW
VIX CASH: 72.4 - UP 24 POINTS FROM LAST SHOW
VVIX: 178.50 - UP 51.5 FROM LAST SHOW

HOT VOLATILITY POSITIONS AND TRADES

SPIKES
VIX OPTIONS
VXX

VOLATILITY VOICEMAIL

QUESTION FROM MIKE WIENICK: IF THE MARKETS ARE SHUT DOWN DUE TO THE EXTRAORDINARY CIRCUMSTANCES AND I HAVE EXPIRING IN THE MONEY PUTS THAT I BOUGHT - WHAT HAPPENS? ARE THE EXPIRING OPTIONS AUTOMATICALLY EXERCISED OR ARE DO JUST EXPIRE WORTHLESS BECAUSE THE MARKET WAS SHUTDOWN?

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

MARK: 61.5
SEBASTIAN: 56.25
SIMON: 55

Volatility Views 390: Volatility Is Feeling The Bern

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: RUSSELL RHOADS, TABB GROUP

VOLATILITY REVIEW SEGMENT

CBOE RISK MANAGEMENT CONFERENCE RUNDOWN.
ANOTHER ROUGH WEEK FOR THE MARKET.
SPIKES: 46.90 - UP .15 FROM LAST SHOW
VIX CASH: 48.4 - UP 2.4 POINTS FROM LAST SHOW
VVIX: 126.90 - UP .15 FROM LAST SHOW

HOT VOLATILITY POSITIONS AND TRADES

SPIKES
VIX OPTIONS
VXX

VOLATILITY VOICEMAIL

QUESTION FROM LANCASTER: HAVE YOU HEARD ANY MORE ABOUT THE STATUS OF SVIX?

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

MARK: 43.5
SEBASTIAN: 49.38
RUSSELL: 37

Volatility Views 389: The Great Volatility Standoff

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT
MIAX HOT SEAT: SIMON HO, T3 INDEX

VOLATILITY REVIEW SEGMENT

THIS IS A HISTORIC WEEK BY ANY MEASURE.
DOW SET FOR IT’S 5TH WORST WEEK OF ALL TIME.
SPX: S&P OFF OVER 10%
SPIKES: 46.75 - UP 33 FROM LAST SHOW
VIX CASH: 46 - UP 32 POINTS FROM LAST SHOW
VVIX: 126.75 - UP 28 FROM LAST SHOW

HOT VOLATILITY POSITIONS AND TRADES

SPIKES
VIX OPTIONS
VXX

VOLATILITY VOICEMAIL

QUESTION FROM YELA: DID 50 CENT TAKE HIS PROFITS? THANK YOU.
QUESTION FROM THOMAS: I’VE HEARD IT SAID THAT IT’S BEST TO BUY VIX WHEN IT’S HIGH AND SELL IT WHEN IT’S LOW? IS THAT TRUE? WHY?

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

MARK: 32.45
ANDREW: 29.50
SIMON: 43

Volatility Views 388: Remarkably Unremarkable Volatility

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT
MIAX HOT SEAT: SIMON HO, T3 INDEX
MIAX HOT SEAT: PAT HENNESSY, IPS STRATEGIC CAPITAL

VOLATILITY REVIEW SEGMENT

MARKETS DOWN SLIGHTLY AFTER A STRONG WEEK - RALLIED FOR MOST OF THE WEEK UNTIL TODAY
IMPEACHMENT FEARS ARE BEHIND US
APPARENTLY PANDEMIC FEARS ARE APPARENTLY ALSO BEHIND US
NOTHING HAS BEEN ABLE TO UNSEAT THIS PHENOMENAL RALLY IN U.S. EQUITIES. NOT A TRADE WAR. NOT A PANDEMIC. NOT ASSASSINATIONS. NOTHING.
EXPLORING WHY FIFTY CENT HASN'T CLOSED MORE OF HIS VIX OPTIONS POSITION
SPIKES: 14.60 - DOWN .4 FROM LAST SHOW
VIX CASH: 14.2 - DOWN .8 FROM LAST SHOW
VVIX: 98.3 - UP 3.3 PTS FROM LAST SHOW

HOT VOLATILITY POSITIONS AND TRADES

SPIKES
VIX OPTIONS
VXX

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

MARK: 15.25
ANDREW: 14.85
SIMON: 14.5/14.65
PAT: 13.5

Volatility Views 387: Pandemics, Fifty Cent, Lawsuits and more

On this episode, Mark & Mark discuss:

The market is shrugging off pandemic concerns.
Interesting options activity in VIX and Spikes.
Evolution of the VIX futures curve
Why bother with wide verticals in VIX?
The delicate dance of fading VXX
Earnings volatility palooza in CBOE, GRUB, and more.

VOLATILITY VOICEMAIL:

We answer your questions about VIX lawsuits, Fifty Cent and more.

THE CRYSTAL BALL

We give our picks for future volatility.

Volatility Views 386: A Volatility Tornado Watch

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: JOHN SMOLLEN, MIAX EXCHANGE GROUP
MIAX HOT SEAT: SIMON HO, T3 INDEX

VOLATILITY REVIEW SEGMENT

GOOD EARNINGS TRUMPED BY MACRO FEARS OF A GROWING PANDEMIC: TSLA, APPLE, AMAZON BLOW THE DOORS OFF BUT IT’S NOT ENOUGH TO RALLY THE MARKET IN THE FACE OF GROWING CORONAVIRUS FEARS.
FIDDY CENT CERTAINLY LOOKS PRETTY PRESCIENT RIGHT NOW
SPIKES: 19.25 - UP 3.75 FROM LAST SHOW
VIX CASH: 19.25 - UP NEARLY 4 FROM LAST SHOW
VVIX: 105 - UP NEARLY 7.5 PTS FROM LAST SHOW

HOT VOLATILITY POSITIONS AND TRADES

SPIKES
VIX OPTIONS
VXX

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

MARK: 17.75?
MEATBALL: 18.50?
SIMON: 19.50?

VV 385: Pandemic Volatility

Fears of a pandemic out of China spark the first major selloff of the new decade.
Surprisingly wide markets in VIX options
Forget FANG...it's all about MAGA - MSFT, AAPL, GOOGL & AMZN
October VIX futures are insanely overpriced and need to be sold immediately
Fiddy Cent gobbling up more VIX calls this week
The joys of ratio put spreads in VIX
VXX can be an infuriating mistress
Our Quarterly Earnings Volatility Breakdown - Who is winning and losing earnings season so far?
Is $AAPL earnings volatility too cheap?
Plus your questions about August VIX options, our Crystal Ball Picks and more...

Volatility Views 384: Return of FiddyCent...and The Wiggles!!!!

On today's episode, Mark, The Rock Lobster and special guest Simon Ho of T3 Index discuss:

The crazy VIX futures curve
Why SPIKES and VIX have disassociated
The explosive return of Fiddy Cent
The mysteries of SPX market maker delta hedging
Funky long-term VXX puts
and much more...

Volatility Views 383: Dubious 1x2 VXX Spreads Plus Your VIX Picks

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT

VOLATILITY REVIEW SEGMENT

MIDDLE EAST TENSIONS CAN’T STOP THE BULL: MARKETS HIT NEW HIGHS AGAIN TODAY
SPIKES: 12.5 - DOWN 1 FROM LAST SHOW
VIX CASH: 12.35 - DOWN .9 FROM LAST SHOW
VVIX: 87.25 - DOWN NEARLY 4 PTS FROM LAST SHOW

HOT VOLATILITY POSITIONS AND TRADES

SPIKES
VIX OPTIONS
VXX

VOLATILITY VOICEMAIL

QUESTION FROM DAVID LINCOLN: @OPTIONS $VXX 21FEB 13/14 1BY2 PUTSPEAD TRADES 16,000X32,000 TRADES EVEN MONEY CUSTOMER BUYS THE 14 PUT... THOUGHTS? @OPTIONVOL @PAT_HENNESSY @OPTIONPIT THIS TRADED ON THE OPEN THIS MORNING. ALSO 21FEB 12/13 PUT 1X2 TRADE LIKE 2 HOURS LATER 5000X1000

CRYSTAL BALL

TIME TO PLAY ALONG W/ #VOLATILITYVIEWS AND DUST OFF YOUR #CRYSTALBALL. QUITE SIMPLY – WHERE DO YOU THINK $VIX WILL CLOSE FOR 2020? BONUS POINTS: REPLY/DM/EMAIL W/ YOUR SPECIFIC PICK. CLOSEST (MUST BE WITHIN 1PT TO QUALIFY) WILL WIN #FABULOUSPRIZES.

WHERE WILL VIX/SPIKES BE NEXT WEEK?

MARK: 12.15?
ROCKLOBSTER: 11.37?

VV 382: ASSASSINATION VOLATILITY

The new year is off with a bang (sort of) as the markets grapple with the latest wave of headline risk. We break it all down, answer a whole slew of listener questions and attempt to nail down $VIX and Spikes for the end of the year.

Volatility Views 381: The Dark Side Has Yet To Reveal Itself

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT

VOLATILITY REVIEW SEGMENT

IMPEACHMENT - THE MARKET COULDN’T CARE LESS
TRADE WAR - APPARENTLY EVERYTHING IS ON THE RIGHT TRACK
SPIKES: 12.25 - DOWN 1.05 FROM LAST SHOW
VIX CASH: 12.2 - DOWN 1 FROM LAST SHOW
VVIX: 98.25 - DOWN 2.75 PTS FROM LAST SHOW

HOT VOLATILITY POSITIONS AND TRADES

SPIKES
VIX OPTIONS
VXX

VOLATILITY VOICEMAIL

QUESTION FROM morisboris: @Options Hello and a follow for you. If I may ask a question. Is there a site I can look to see what options are open call or puts on a certain equity? Tia

OUR AUDIENCE IS MIXED ON SVIX

COMMENT FROM ELLEN: I think the new SVIX product will be vaporware. I have no idea why it’s getting so much ink.
COMMENT FROM JVIZ: No way this new $XIV thing gets approved. These guys just want attention.
QUESTION FROM IAN MADDEN: Do you really think this new inverse volatility product has a chance of becoming a reality?
QUESTION FROM VINTER: How can a startup have a chance where barclays failed? How can they possibly have the capital to bankroll another market meltdown when barclays couldn’t weather the storm?
COMMENT FROM JAIDEN: Can’t wait for the new XIV to hit my trading screens. I’ve missed fading all that juicy volatility.
COMMENT FROM CHRISTIAN GARCIA: Put me down for a ten lot when $SVIX starts trading. Long-term call obviously.

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

MARK: 11.55?
ROCKLOBSTER: 12.75?

Volatility Views 380: The Long Shadow of XIV

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT

VOLATILITY REVIEW SEGMENT

MARKETS MIXED AFTER EARLY TRADE DEAL, BREXIT VOTE
SPIKES: 13.3 - DOWN .95 FROM LAST SHOW
VIX CASH: 13.2 - DOWN .3 FROM LAST SHOW
VVIX: 101 - UP 6.5 PTS FROM LAST SHOW
NEW XIV IN THE WORKS? Ghost of XIV Rises: A New Short Vol Product Is in the Pipeline

HOT VOLATILITY POSITIONS AND TRADES

SPIKES
VIX OPTIONS
VXX

VOLATILITY VOICEMAIL

QUESTION FROM RUNTHROUGH: It sounds like you guys are down on UVXY and for good reasons. Last week’s guest didn’t exactly raise my hopes. Is there anything they could do to get you back into the fold?
QUESTION FROM MIGS: Will we ever see XIV again?
QUESTION FROM TROMS: Will there ever be a way to buy just the $VIX index itself as an etf or something rather than just futures?
COMMENT FROM MARS: Happy holidays to the vol views crew. You guys always wrap up my week in style. Here's to a great next decade of volatility.

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

MARK: 12.25?
SEBASTIAN: 13.25?

Volatility Views 379: Algo Action and Futures Fun

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT
MIAX HOT SEAT GUEST: SIMON HO, CEO, T3 INDEX
MIAX HOT SEAT GUEST: SHELLY BROWN, EXECUTIVE VP, MIAX

VOLATILITY REVIEW SEGMENT

MARKETS GETTING A LIFT TO END THE WEEK AFTER TRADE WAR PESSIMISM SPOOKED MARKETS AND BOOSTED VOLATILITY MOST OF THIS WEEK
OPEC DECIDING TO EXTEND AND DEEPEN CUTS AHEAD OF THEIR IPO
SPIKES: 14.25 - UP .85 FROM LAST SHOW
VIX CASH: 13.5 - UP .85 FROM LAST SHOW
VVIX: 94.5 - UP .5 PTS FROM LAST SHOW
SUSPENSION OF SPIKES FUTURES - WHAT HAPPENED
MIAX TRADING RESULTS FOR NOVEMBER 2019

HOT VOLATILITY POSITIONS AND TRADES

SPIKES
VIX OPTIONS
VXX

VOLATILITY VOICEMAIL

QUESTION FROM Michael Smith: I’ve been looking more at Skew lately. Looking at a single stock you can see it easily. Do you guys have a recommendation for comparing across instruments? i.e. a formula?

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

MARK: 12.75?
ROCKLOBSTER: 12.74?
SIMON: 13?

Volatility Views 378: Massive Bets, Spikes Futures and...Cybertruck

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT GUEST: SIMON HO, CEO, T3 INDEX

VOLATILITY REVIEW SEGMENT

TRADE WAR PESSIMISM SPOOKING MARKETS AND LIFTING VOLATILITY MOST OF THIS WEEK
VOL DOWN TO END THE WEEK
SPIKES: 13.4 - UP .5 FROM LAST SHOW
VIX CASH: 12.65 - UP .35 FROM LAST SHOW
VVIX: 94 -UP 2.5 PTS FROM LAST SHOW
SPIKES FUTURES - THEY ARE HERE!

HOT VOLATILITY POSITIONS AND TRADES

SPIKES
VIX OPTIONS
VXX

VOLATILITY VOICEMAIL

QUESTION FROM itzsleepy: With today’s bad economic data; fed spending 150B on Repo operations per day. Powell staring we don’t have tools to combat a downturn without fiscal policy. Trade war with China uncertainty. Wouldn’t it make sense for volatility Being severely under priced due to SpX jumping massively since Trump tweeted on oct 11 trade deal complete
COMMENT FROM 1328: Glad to have more players in the volatility futures game. Looking forward to my first trade.
QUESTION FROM AMBROSE: Where can I get volume data for spikes futures?
QUESTION FROM TRIGG3R: Thx for the show. Question for the miax hot seat guest - Are there any issues with trading options cleared by OCC against futures cleared by CME Group. I want to make sure I have all my ducks in a row before I start trading this product.

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

MARK: 12.95?
MEATBALL: 11.6?
SIMON: 12.4?

Volatility Views 377: The Great Volatility Shock Absorber

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: DAVID LINCOLN, VIX CRUSH

VOLATILITY REVIEW SEGMENT

TRADE WAR OPTIMISM BOOSTING MARKETS MOST OF THIS WEEK
VOL MIXED TO END THE WEEK
SPIKES: 12.9 - DOWN .8 FROM LAST SHOW
VIX CASH: 12.3 - DOWN .2 FROM LAST SHOW
VVIX: 91.5 -UP 2.5 PTS FROM LAST SHOW
VIX FUTURES CURVE: STILL IN CONTANGO
SPIKES FUTURES: WE’LL HAVE THEM LISTED BY NEXT EPISODE

HOT VOLATILITY TRADES

VIX OPTIONS
VXX

VOLATILITY VOICEMAIL

QUESTION FROM ITZSLEEPY: Can you guys comment on VIX calls on Nov 20, 2019? How it would play with vxx happening in the volatility space with insurance companies moving from leaps into shorter-duration hedges for their vol exposure?
QUESTION FROM VINCE: Why do you refer to $SVXY and $UVXY as “neutered”? Thanks for answering my question and for putting on this show every week. You’re the best in the biz.

CRYSTAL BALL

*WHERE WILL VIX/SPIKES BE NEXT WEEK?*

MARK: 12.15
MEATBALL -11.6
DAVE - 13

Volatility Views 376: Bermuda by Way of Chicago

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT: John Smollen, The MIAX Exchange Group
T3 HOT SEAT: SIMON HO, T3 INDEX

VOLATILITY REVIEW SEGMENT

Miami International Holdings, Inc. (MIH), the parent holding company of the MIAX®, MIAX PEARL® and MIAX Emerald™ options exchanges (the MIAX Exchange Group™), and the Bermuda Stock Exchange (BSX) today announced that MIH has acquired a controlling interest in the BSX.
TRADE WAR OPTIMISM BOOSTING MARKETS MOST OF THIS WEEK
VOL MIXED TO END THE WEEK
SPIKES: 13.75 - UP .25 FROM LAST SHOW
VIX CASH: 12.5 - UNCHD FROM LAST SHOW
VVIX: 89 -UP NEARLY 4 PTS FROM LAST SHOW
VIX FUTURES CURVE: STILL IN CONTANGO
SPIKES FUTURES: RESPONSE FROM FIA ATTENDEES TO SPIKES FUTURES?
EARNINGS VOLATILITY: DIS

HOT VOLATILITY TRADES

VIX OPTIONS
VXX

VOLATILITY VOICEMAIL

QUESTION FROM CURRANT: Do the zero commissions for options also extend to vol products like VIX and spikes?
QUESTION FROM ELI: Does T3 have any models it can share depicting how viking future would look right now vs. traditional VIX futures term structure?
QUESTION FROM LAWRENCE T.: Lots of talk in energy space about how institutional hedging has shifted from back months to front calendar year for producers. Do we ever envision something similar happening in the volatility space with insurance companies moving from leaps into shorter-duration hedges for their vol exposure?

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

MARK: 12.25
MEATBALL: 11.75
SIMON: 13, 13.25

VV 375: We've Seen Stupider Stupids

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT

VOLATILITY REVIEW SEGMENT

S&P 500, Nasdaq hit new records after October jobs numbers beat expectations
SPIKES: 13.50 - UNCHD FROM LAST SHOW
VIX CASH: 12.5 - DOWN .5 FROM LAST SHOW
VVIX: 85.2 - UP 1.2 FROM LAST SHOW
VIX FUTURES CURVE: STILL IN CONTANGO
SPIKES FUTURES
EARNINGS VOLATILITY

HOT VOLATILITY TRADES

VIX OPTION
VXX

VOLATILITY VOICEMAIL

QUESTION FROM HEATHER: Since you guys don’t like TVIX what else do you recommend?
QUESTION FROM ELI: Is there one strategy that is the silver bullet in vxx that works over the others. Should I really just buy 1yr plus puts and then set it and forget it? Seems like anything much shorter term is a bit of a crap shoot.
QUESTION FROM 78RT: What’s the real set-it-and-forget-it vol trade? VXX long-term puts?
QUESTION FROM OPTIONSGAME: What kind of IV should we expect from CMEGroup options on bitcoin futures?

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

MARK: 12.55
MEATBALL - 13.07

VV 374: The Great Earnings Volatility Breakdown

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT CO-HOST: MATT AMBERSON, ORATS

VOLATILITY REVIEW SEGMENT

EARNINGS/TRADE WAR/BREXIT OPTIMISM IS BACK
SPIKES: 13.50 - DOWN 1.1 FROM LAST SHOW
VIX CASH: 13.0 - DOWN 1.6 FROM LAST SHOW
VVIX: 84 - DOWN 6 PTS FROM LAST SHOW
VIX FUTURES CURVE: STILL IN CONTANGO
SPIKES FUTURES
EARNINGS VOLATILITY

HOT VOLATILITY TRADES

SPIKES OPTIONS
VIX OPTION
VXX

VOLATILITY VOICEMAIL

QUESTION FROM PATRIC: If I want to buy an option during earnings season should I buy it early or right before the announcement?
QUESTION FROM DISL: Does VIX really have a skew?

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

MARK: 13.55
MEATBALL - 12.67
MATT - 12

VV 373: The Wheel of Volatility Decisions

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: MARK SEBASTIAN, THE OPTION PIT
MIAX HOT SEAT CO-HOST: JOHN SMOLLEN, MIAX EXCHANGE GROUP.
SPECIAL GUEST CO-HOST: ERIC METZ, SPIDERROCK ADVISORS

VOLATILITY REVIEW SEGMENT

EARNINGS/TRADE WAR/BREXIT OPTIMISM HAS STALLED
SPIKES: 14.60 - DOWN 1.9 FROM LAST SHOW
VIX CASH: 14.60 - DOWN 1.8 FROM LAST SHOW
VVIX: 91 - DOWN 4 PTS FROM LAST SHOW
VIX FUTURES CURVE: STILL IN CONTANGO

SPIKES FUTURES

Volatility Index SPIKES Futures are expected to launch on MGEX on November 18, 2019, subject to Commodity Futures Trading Commission (CFTC) approval. SPIKES Futures will be available on MGEX via the CME Globex platform, providing the SPIKES Futures product with significant distribution from day one.

HOT VOLATILITY TRADES

SPIKES OPTIONS
VIX OPTION
VXX

EARNINGS VOLATILITY

NFLX
IBM

VOLATILITY VOICEMAIL

QUESTION FROM LL07: I found the comments by Simon Ho on the last episode somewhat alarming. The exchange needs to get approval from regulators to offer tied trades to customers? Can’t a broker simply quote a tied trade using combos? Why do they need regulatory approval for tied trades after the options are already approved? What am I missing?
QUESTION FROM ENCARTO: Am I better off buying a $SPY put or a $VIX call to hedge my portfolio?
COMMENT FROM TOM BRENTON: I think the upcoming spikes futures will be interesting. Looking forward to trading them against the options.

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

MARK: 14.65
MEATBALL: 13.85
ERIC: 14.80

VV 372: Crazy Rolls and Pathetic Volatility Rallies

HOST: MARK LONGO, OPTIONS INSIDER MEDIA GROUP
CO-HOST: ANDREW GIOVINAZZI, OPTION PIT
MIAX HOT SEAT CO-HOSTS: John Smollen - Executive Vice President, Head of Exchange Traded Products and Strategic Relations - MIAX Exchange Group.
SIMON HO, CEO, T3 INDEX

VOLATILITY REVIEW SEGMENT

ALL IS RIGHT WITH THE MARKET AGAIN - MARKETS FIRMLY IN RALLY MODE AS TRADE WAR OPTIMISM AND FED BALANCE SHEET LOVE DRIVING UP MARKETS

SPIKES 16.5
VIX CASH 16.40
VVIX 95
WHICH VOLATILITY TRADES, TRENDS OR DEVELOPMENTS CAUGHT YOUR EYE THIS WEEK?

HOT VOLATILITY TRADES

SPIKES OPTIONS
VIX OPTION
VXX

VOLATILITY VOICEMAIL

QUESTION FROM Erik Norstedt: Hi Mark, Great show! With some of the major brokers offering no trading fees do you think this will lead to an increase in volatility since traders can trade more?
QUESTION FROM TALOS: Do they have the specs yet for the spikes future?
RELATED QUESTION FROM LH65: How far out will I be able to trade spike futures? How do you expect the term structure to shape up. Thx for this program. You guys are the best.

CRYSTAL BALL

WHERE WILL VIX/SPIKES BE NEXT WEEK?

MARK: 16.65
ANDREW: 14.92
SIMON: 16.2

Host: Mark Longo, The Options Insider Media Group
Co-Host: Mark Sebastian, Option Pit

VOLATILITY REVIEW Update on the latest trades, trends and developments in the world of volatility including: * ALL IS RIGHT WITH THE MARKET AGAIN * VIX cash, Spikes,VIX Futures and VVIX overview. * Spikes options breakdown - 18- UNCHD. FROM LAST SHOW * VIX cash - 17.75 - UP .25 FROM LAST SHOW * VVIX - 96 - DOWN NEARLY 8 PTS FROM LAST SHOW * VIX Futures Curve - STILL IN CONTANGO * And much more…

VOLATILITY VOICEMAIL * QUESTION FROM TINTIN:Why do you the market isn’t pricing in more volatility as a result of the saudi oil attacks? * COMMENT FROM SIDELOASD: I found that vxst/vix ratio discussed on last show extremely interesting. Thank you. * QUESTION FROM JERRY BANKS: Do you have any insight into whether cboe will ever bring back rvx? I miss that product.

THE CRYSTAL BALL Where will VIX/SPIKES be next week? * MARK: 16.65

MEATBALL: 15.79

Host: Mark Longo, The Options Insider Media Group
MIAX Hot Seat Co-Host: Shelly Brown - Executive Vice President, MIAX Exchange Group
Co-Host: Andrew Giovinazzi, Option Pit
Guest Co-Host: Brian Overby - Senior Options Analyst, Ally Invest

VOLATILITY REVIEW

Update on the latest trades, trends and developments in the world of volatility including:

MARKET SELLING OFF AGAIN OVER MORE CHINESE / U.S. TENSIONS
VIX cash, Spikes,VIX Futures and VVIX overview.
VIX options breakdown - LIGHT VOLUME WEEK
Spikes options breakdown - 18- UP OVER 4 FROM LAST SHOW
VIX cash - 17.5 - UP APPROX. 3.5 FROM LAST SHOW
VVIX - 104 - UP NEARLY 4 PTS FROM LAST SHOW
VXX - 24.3 - UP 1.3 FROM LAST SHOW
VIX Futures Curve - STILL IN CONTANGO
And much more…

SPIKES FUTURES

HERE WE GO! WE HAVE A LAUNCH DATE!
Volatility Index SPIKES Futures are expected to launch on MGEX on November 18, 2019, subject to Commodity Futures Trading Commission (CFTC) approval. SPIKES Futures will be available on MGEX via the CME Globex platform, providing the SPIKES Futures product with significant distribution from day one.

BIG VOLATILITY WAGERS HIT MARKETS

At least one options investor dished out $4.3 million for bullish bets on the VIX that would pay out if the gauge jumped to 23 by October, a huge advance from its current level, according to data provider Trade Alert. Another large trade would pay out if the gauge jumped to 25, a level it hasn’t closed at since early January.

VOLATILITY VOICEMAIL

QUESTION FROM IRL8: Do brokers charge more to trade VIX and volatility products?
QUESTION FROM CO54: Does this notion of having approval levels for vol etps have legs?

THE CRYSTAL BALL

Where will VIX/SPIKES be next week?

MARK: 17.55
ROCK LOBSTER: 9.97
BRIAN: 20

Host: Mark Longo, The Options Insider Media Group
MIAX HOT SEAT CO-HOST: John Smollen - Executive Vice President, Head of Exchange Traded Products and Strategic Relations - MIAX Exchange Group
Co-Host: Mark Sebastian, Option Pit

VOLATILITY REVIEW

Update on the latest trades, trends and developments in the world of volatility including:

MARKETS UNCHD TO END THE WEEK AFTER STRONG RALLIES. VOLATILITY DOWN ACROSS THE BOARD.
VIX cash, Spikes,VIX Futures and VVIX overview.
VIX options breakdown - mild volume week
Spikes options breakdown - 14.20 - DOWN 1.65 FROM LAST SHOW
VIX cash - 13.90 - DOWN 1.6 PTS FROM LAST SHOW
VVIX - 99.5 - UP 2.5 PTS FROM LAST SHOW
VIX Futures Curve - BACK TO (SOMEWHAT) NORMAL CONTANGO
And much more...

VOLATILITY VOICEMAIL

QUESTION FROM LLJJ: Did those pricey VXX puts really work out when you factor in the vol implosion in that product over the past few weeks?
QUESTION FROM ELLIOT: Fun program. Like the spikes inclusion. Question - I’ve hear Mr. Longo mention that there might be options “lurking in the book” before on the show. What does this mean? What book? Thanks and love the show.
QUESTION FROM NICK JOHNSON: You feeling the volfefe index?

THE CRYSTAL BALL

Where will VIX/SPIKES be next week?

MARK: 14.25/ VOLFEFE 6
GREASY Meatball: 13.14?

Host: Mark Longo, The Options Insider Media Group
MIAX HOT SEAT CO-HOST: Dave Lincoln, The Short Vol Show
Co-Host: Andrew Giovinazzi, Option Pit

VOLATILITY REVIEW

Update on the latest trades, trends and developments in the world of volatility including:

JUDGING BY THE VOLATILITY MARKET YOU’D NEVER KNOW THAT WE HAD A HISTORIC ATTACK ON THE OIL INFRASTRUCTURE THIS WEEK.
VIX cash, Spikes,VIX Futures and VVIX overview.
VIX options breakdown - decent volume week
Spikes options breakdown - 13.95 - DOWN .25 FROM LAST SHOW
VIX cash - 13.90 - ALMOST EXACTLY UNCHD FROM LAST SHOW
VVIX - 96.5 - DOWN 3 PTS FROM LAST SHOW
VIX Futures Curve - STILL IN CONTANGO.

FROM MATT THOMPSON:

+ Spot $VIX "gravity" on VIX futures does not get stronger when the curve is steep. In fact, the opposite.
+ Why? Because steep curve = a lot of time to expiration. and "gravity" has the greatest effect when a future is close to expiration

And much more...

THE CRYSTAL BALL

Where will VIX/SPIKES be next week?

MARK: 14.25
ROCK LOBSTER: 13.59
DAVE LINCOLN: 12:08

Host: Mark Longo, The Options Insider Media Group
MIAX Hot Seat Co-Host: Simon Ho, Ceo, T3 Index
Co-Host: Mark Sebastian, Option Pit

VOLATILITY REVIEW

Update on the latest trades, trends and developments in the world of volatility including:

Strong rallies to end the week as trade war optimism shifts back into focus.
VIX cash, Spikes,VIX Futures and VVIX overview.
VIX options breakdown - mild volume week
Spikes options breakdown - 15.85 - Down 5.4 PTS from last show
VIX cash - 15.50 - Down 5.1 PTS from last show
And much more...

VOLATILITY VOICEMAIL

QUESTION FROM DANC: Whatever happened to that tradeable vix cash product? Flame out?
QUESTION FROM ANDREW89: Do you guys also think that volatility futures are downplaying the possibility of december volatility? It’s one of the cheapest months on the board and also one of the most volatile recently.

THE CRYSTAL BALL

Where will VIX/SPIKES be next week?

MARK: 14.65?
Meatball: 14.12?
SIMON: 15.5?

Host: Mark Longo, The Options Insider Media Group
Co-Host: Mark Sebastian, Option Pit

VOLATILITY REVIEW

Update on the latest trades, trends and developments in the world of volatility including:

China kicks the trade war back into high gear: major indices down over 2% across the board.
VIX cash, Spikes,VIX Futures and VVIX overview.
VIX options breakdown - crazy volume week
Spikes options breakdown - 21.25 - UP APPROX. 1.5 PTS FROM LAST SHOW
VIX cash - 20.60 - UP 4PTS TODAY AND UP 2PTS FROM LAST SHOW
And much more...

VOLATILITY VOICEMAIL

QUESTION FROM NELY: Why do you guys hate $TVIX so much?
QUESTION FROM TRADECAP: Seems like bullish risk reversals are the savvy play right now in volatility. Downside is limited - particularly if you sell put spreads - and the upside is unlimited. Why don't you talk about these more on your show?
QUESTION FROM ORLND3: I trade my volatility almost exclusively through spy verticals and iron flies. Am I missing something by not having that vix or spikes exposure?
COMMENT FROM j3dingle: Dear Mark, Have you ever had the managers of the ABR Mutual Fund ABRSX on Vol Views? If not, maybe they would be a good guest? Thanks, Joseph

THE CRYSTAL BALLWhere will VIX/SPIKES be next week?

MARK: 19.30
Meatball: 18.50

Host: Mark Longo, The Options Insider Media Group
Co-Host: Mark Sebastian, Option Pit
MIAX Hot Seat Guest: Shelly Brown, EVP, Miax Options
Guest Co-Host: Simon Ho, CEO, T3 Index

VOLATILITY REVIEW

Update on the latest trades, trends and developments in the world of volatility including:

What the heck is happening this week?
VIX cash, Spikes,VIX Futures and VVIX overview.
VIX options breakdown - strong volume week
Spikes options breakdown - Massive 1x2 roll
Why does the premium evolve between SPIKES and VIX?
And much more...

VOLATILITY VOICEMAIL

COMMENT FROM HATTIME: $6 for a Jan ATM put in VXX? I don’t think so.
COMMENT FROM APROPOSS0:Love the show. Checked out the VXX downside after your recent episodes. Damn is that sh$t expensive! How can you make money buying that stuff
QUESTION FROM ALLISON: What do you guys think of the MOVE index as a measure of volatility?

THE CRYSTAL BALLWhere willVIX/SPIKES be next week?

MARK: 18.50
Meatball: 16.75
SIMON: 17.33

Host: Mark Longo, The Options Insider Media Group
Co-Host: Mark Sebastian, Option Pit
MIAX Hot Seat Guest: Henry Schwartz, Trade Alert

VOLATILITY REVIEW

Update on the latest trades, trends and developments in the world of volatility including:

Trade war back in the hot seat.
VIX cash, Spikes,VIX Futures and VVIX overview.
VIX options breakdown - strong volume week
Spikes options breakdown - OI pretty much unchanged from last week
VXX options breakdown

VOLATILITY VOICEMAIL

QUESTION FROM FOLEY: You guys are like swammys with that vvix thing. You call it every time! The second it gets close to 70 it explodes. I think thats the best indicator i’ve seen in some time. What are the best ways to take advantage of it? Just load up on vix calls?

THE CRYSTAL BALL - Where willVIX/SPIKES be next week?

Mark: 16.75
Andrew/Meatball: 15.13
Henry: 16.25

Host: Mark Longo, The Options Insider Media Group
Co-Host: Mark Sebastian, Option Pit
Miax Hot Seat Guest: Russell Rhoads, Tabb Group

VOLATILITY REVIEW

Update on the latest trades, trends and developments in the world of volatility including:

Rally ho on the back of strong earnings
VIX cash, Spikes,VIX Futures and VVIX overview.
VIX options breakdown - crazy volume week
Spikes options breakdown - OI pretty much unchanged from last week
VXX options breakdown
Earnings volatility breakdown for BYND, AAPL and more...

VOLATILITY VOICEMAIL

QUESTION FROM TINKER: Do you think there will ever be another inverse volatility product?

THE CRYSTAL BALL - Where will VIX/SPIKES be next week?

Mark: 15.25
Andrew/Meatball: 17.85
Russell: 18.75

Volatility Views 362: Is the VIX Whale Back?

Host: Mark Longo, The Options Insider Media Group
Co-Host: Andrew Giovinazzi, Option Pit
Miax Hot Seat Guests: Shelly Brown, MIAX Options.

VOLATILITY REVIEW

Update on the latest trades, trends and developments in the world of volatility including:

Rally ho on the back of strong earnings
VIX cash, Spikes,VIX Futures and VVIX overview.
Has FiddyCent returned to VIX?
VIX options breakdown - Decent volume week
Spikes options breakdown - OI pretty much unchanged from last week
VXX options breakdown
Earnings volatility breakdown for AMZN, GOOGL and more...

VOLATILITY VOICEMAIL

QUESTION FROM SHELTON: I’m sitting on some decent profits in my vxx jan puts (thx to you guys). My query is what do I do now? I’m tempted to sell them out because I’m up over 2X on the position. But my gut says there is more downside to come. However, I know from listening to you guys that an upside blip can happen between now and then which will wipe out all of my gains. What about some fairly cheap Dec or Jan OTM calls as a hedge? Put some of my gains back to work as a way to hedge the position?
QUESTION FROM LLL77: What’s next for spikes?

THE CRYSTAL BALL

Mark: 12.25/12.35
Andrew: 11.50 /11.95

Volatility Views 361: Selling ALL August Volatility

Host: Mark Longo, The Options Insider Media Group
Co-Host: Mark Sebastian, Option Pit
Miax Hot Seat Guests: Shelly Brown, MIAX Options.

VOLATILITY REVIEW

Update on the latest trades, trends and developments in the world of volatility including:

VIX cash, Spikes,VIX Futures and VVIX overview.
What is going on with Super Tuesday in Spikes options?
VIX options breakdown - Fairly light week
Spikes options breakdown - Record volume and OI
VXX options breakdown
Earnings volatility breakdown for Netflix, Microsoft, Goldman Sachs, JPMorgan Chase and more...

VOLATILITY VOICEMAIL

QUESTION FROM HCTR#: If you could have your ideal vol product what would it be?
QUESTION FROM KETCHUMALL: Do 1x2 put spreads work better in VXX or VIX?
QUESTION FROM AIDEN: Know you guys are GOT fans. Thought this was an interesting analytical way to look at the show. Maybe this explains the dropoff in quality of the final seasons?

THE CRYSTAL BALL

MARK - 12.75
MEATBALL - 12.25

Volatility Views 360: Revenge of Contango

Host: Mark Longo, The Options Insider Media Group
Co-Host: Mark Sebastian, Option Pit
Miax Hot Seat Guests: Shelly Brown and John Smollen, MIAX Options.

VOLATILITY REVIEW (4:52)

Update on the latest trades, trends and developments in the world of volatility including:

VIX cash, Spikes and VVIX overview.
Return of Contango in VIX Futures -(12:30)
What is going on with Super Tuesday in Spikes options?
VIX options breakdown
Spikes options breakdown
VXX options breakdown
Bitcoin Volatility breakdown (30 minutes)
Earnings volatility breakdown for JPM, C, WFC, NFLX, EBAY, GS and more...

Volatility ViewpointThe markets are hitting new highs and equity #Volatility is eroding yet again. So where are you getting your #Volatility fix these days?

Energy - WTI, $USO, etc
Metals: $GLD, $SLV, etc
Crypto: $BTC.x, $ETH.x,
Index: $VIX, $SPIKE, $VXX
QUESTION FROM GEORGE: What did the spikes folks do to get that sizable 1x2 printed recently? Do you expect any more prints of this magnitude on the horizon? Been evaluating the product and traded my first ten lot recently. Would like to see more big players get involved. Great program. Anything on commodity volatility?
QUESTION FROM 45O9: I hear you about the weird discount that we’re seeing in dec VIX futures right now. If we see some developments on the international front and vol eventually comes in do you think they’ll still keep dec relatively similar to where it is now. I guess I’m asking is if Dec just looks cheap now because the rest of the curve is somewhat elevated. Once that premium is taken out will dec look somewhat expensive by comparison?

THE CRYSTAL BALL

MARK - 12.75 - 12.80
MEATBALL - 12.20-12.25

VOLATILITY REVIEW

SPIKES - 15.85, up 1.35-points from last show

VIX Cash - 16, up 2-points from last week

VVIX - 87, up 6-points from last show

VIX Options - ADV: 411k, Total 6.32M (4.86M Calls, 1.46M Puts)

VXX - 26, 1.7-points lower than last week

Huge move in Bitcoin futures this week - Big rally and massive selloff today

Earnings:

Tuesday - FedEx, Lennar

Wednesday - General Mills, KB Home, Paychex, Rite Aid

Thursday - Nike, Walgreens Boots Alliance

Friday - Constellation Brands

VOLATILITY VOICEMAIL

#QuestionoftheWeek: Let's play a guessing game. Which of the following names has the highest 30-day REALIZED volatility? No cheating. What does your gut tell you?

- $TSLA
- BITCOIN
- WTI #CRUDE OIL
- $QQQ

Question from Litter - Hey Vol dudes love the show. Heard you mention SPX combos on the last show. What are they and why are they so popular?

Question from ArPortKey - If we get a trade war deal out of G20 this weekend realistically how much of a hit will vix take on Monday?

CRYSTAL BALL

Next week:

Mark L. - 14.75

Andrew - 13.95

VOLATILITY REVIEW

Trade war premium came and want, and now seems to be sticking.

SPIKES - 14.50, down 1.25-points from last show

VIX Cash - 14.65, down 1-point from last week

VVIX - 81, down 3.5-points from last show

VIX Options - ADV: 482k, down 200k from last show, Total 5.62m (4.35m Calls, 1.27m Puts)

VXX - 26, 1.7-points lower than last show

Earnings:

Tuesday - Adobe

Wednesday - Oracle, Barnes & Noble

Thursday - Kroger, Darden Restaurants (Yard House, Capital Grill, Seasons 52, Longhorn Steakhouse, Olive Garden)

Friday - Carmax

VOLATILITY VOICEMAIL

#QuestionoftheWeek: Let's play a guessing game. Which of the following names has the highest 30-day REALIZED volatility? No cheating. What does your gut tell you? $TSLA #BITCOIN #CRUDEOIL #NASDAQ $QQQ #WTI

$TSLA
BITCOIN
WTI #CRUDE OIL
$QQQ

Question from Lint37 - Do you think the spikes futures will trade similar to the vix futures when they are listed?

Question from Mrs T -

CRYSTAL BALL

VOLATILITY REVIEW

Trade war premium back and forth.

SPIKES - 15.65, down 0.35 from last show

VIX Cash - 15.65, down 0.35 from last week

VVIX - 84.5, unchanged from last show

VIX Options - ADV: 482k, Total 8.04m (6.01m Calls, 2.03m Puts)

VXX - 27.67, slightly lower than last show

Earnings:

Tuesday - Dave & Busters

Wednesday - Lululemon

Thursday - Broadcom

VOLATILITY VOICEMAIL

Question from Elliot - Looks like BTC is getting very volatile again. What are you seeing out there right now?\

Question from GLN09 - Is there a bitcoin vix?

Question from Waterson - Can you explain more about the price dragging method in SPIKES. How exactly does that prevent what happened to the VIX from happening in spikes? Great show guys.

Comment from Pyon - ASo the judge ruled that CBOE didn’t manipulate their product but they created a product that was susceptible to manipulation. Do you think this is the end of the lawsuits? In some way isn’t that outcome even worse since they never fixed this thing until the lawyers came knocking? Just look at all the steps that SPIKES takes to avoid these same types of problems. Is it out of the question to expect CBOE to have taken similar steps or were they too afraid of hurting their golden goose product?

CRYSTAL BALL

VOLATILITY REVIEW

Guest: John Smollen - Executive Vice President, Head of Exchange Traded Products and Strategic Relations - MIAX

Trade war premium came and went… and came back again… then went again.

SPIKES - 16, down 2.5-points from last show

VIX CASH - 16, 2.5-points lower from last week
VVIX - 84.5, 10-points lower than last show

VIX Options - ADV: 679k, Total 7.51M

Earnings volatility this week

Monday - box

Tuesday - GameStop, salesforce

Wednesday - Stitch Fix, Campbell Soup Company, Vera Bradley, ABM

Thursday - Beyond Meat, ciena

VOLATILITY VOICEMAIL

#Options #QuestionoftheWeek: #Bitcoin $BTC is hovering around $8500 right now. If you had to make a 1-month #options trade expiring 6/31 - would you rather…

Quite the range since the last show - broke through $8000 on the downside now back to $8071

29% - Buy $9000 Call

35% - Buy $8000 Put

31% - Sell $8000 Put

5% - Other, reply/dm w/strat

Question from Elliot - Looks like BTC is getting very volatile again. What are you seeing out there right now?\ Question from GLN09 - Is there a bitcoin vix?
5-Star review from East Wave - Extremely insightful information delivered by a very knowledgable (and affable) group with great guests on frequent episodes. Great job guys! (miss Don Schlesinger).

Question from DElement - I thought the major obstacle for the approval of new vol products was the lack of an underlying future or ETF. That seems to be the case with the nasdaq volatility products. How were the MIAX team able to get their spikes product approved by the sec without an underlying? Is that normal practice?

Question from The Mic - Can you ask the MIAX team if there are any plans for ETPs on spikes similar to VXX or SVXY? Thank you very much for your program.

CRYSTAL BALL

VOLATILITY VIEWPOINT

Guests: Jimmy Heinz - Equity Volatility Trader, Gelber Group & Brendan Carter, Equity Volatility Trader, Gelber Group

VOLATILITY REVIEW

Trade war - Trump decided China wasn’t enough and picked a new trade war with Mexico

SPIKES - 18.5, up 2-points from last show.

VIX Cash - 18.5, 2.25-points higher than last week.

VVIX - 94.5, 2.5-points higher than last show

VIX Options - ADV: 708K

VXX - 30.5, 2.5-points higher than last week

VOLATILITY VOICEMAIL

Question from Cap Wulf - Looks like the dark days of VIX are finally over? Thoughts on the outcome? Do you agree with the judges decision?

Question from Michael Paige - I’ve heard your discussions about inverse volatility products and how we probably won’t see another one anytime soon. I find myself wondering how you could even construct one of those products int he modern era that would pass regulatory muster? All of them have an embedded function that they can effectively blow out at anytime. How can any provider offer this product without also having to carry so much upside protection that it becomes far too expensive to list. But I don’t see regulators allowing anything past them that has an embedded “acceleration event” in their prospectus again.

CRYSTAL BALL

VOLATILITY REVIEW

Trade war premium came and went… and then came back again!

SPIKES - 16.5, up 0.75 from last show

VIX Cash - 16.25, up 0.75 from last week

VVIX - 92, 3-points lower than last show

VIX Options - ADV: 708k, Total 6.62m (4.97m Calls, 1.65m Puts)

VXX - 28, unchanged from last show

CRYSTAL BALL

Next week:

Mark L. - 14.75

Mark S. - 14.10

Matt - 13.25

VOLATILITY REVIEW

Trade war premium came and went.

SPIKES - 15.75, down 4.25-points from last show

VIX Cash - 15.5, 4-points lower than last week

VVIX - 95, 8-points lower than last show

VIX Options - ADV: 668k, Total 10.2m (7.42m Calls, 2.73m Puts)

VXX - 28, 2-points lower than last show

Earnings Highlights:

Thursday - Walmart, Nvidia, Pinterest

Friday - John Deere

VOLATILITY VOICEMAIL

Comment from J3Dingle - I saw on Bloomberg that one of the 20+ Democrats running for president owes UVXY in size in his portfolio. That alone should be a disqualifying factor.

Question from T Lima - Heard you guys hitting on 1x2 put spreads in vix. What about VXX? There are lots of juicy puts 1x2s lining up for small outlays and maybe even credits. I’m looking at Dec 28-23 1x2 that I can do for around $.45-$.65. There are similar spreads lining up across the term structure. Also - Do you have a preference to longer term or shorter term when trading 1x2 put spreads in these products?

CRYSTAL BALL

Next week:

MARK: 14.75

Andrew - 14.25

Dave - 16.00

VOLATILITY REVIEW

Trade was premium is back as Trump continues to ratchet up the tariffs.

SPIKES - 20, up 7-points from last show

VIX Cash - 19.5., 7-points higher than last week

VVIX - 103, almost 20-points higher than last show

VIX Options - ADV: 459k, very low.

VXXB - 30.3, 5-points higher than last week, ADV: 167k

SPIKES Versus VIX: How to Take Advantage of the Differences - https://www.investorsalley.com/spikes-versus-vix-how-to-take-advantage-of-the-differences-article-jay/

VOLATILITY VOICEMAIL

Question from Super Dragon - Is the $VIX curve inverting as bad as the yield curve inverting?

Question from Anthony Johnston - I’ve heard you guys call otm puts bullets before? Where does this come from and why are they called that?

CRYSTAL BALL

Next week:

Mark L. - 13.25

Mark S. - 14.06

VOLATILITY VIEWPOINT

Guest: John Smollen, EVP, Head of Exchange Traded Products and Strategic Relations, MIAX

Guest: Simon Ho, CEO, T3 Index

VOLATILITY VOICEMAIL

Comment from Allegheny Lad - Cheers to the listener who said they hedge their VXXB downside with alcohol. I feel their pain and I raise my glass in solidarity. I find a nice Jameson on the rocks seems to “hedge” most effectively - but ymmv. Thanks for your fine program.

Question from Charlie C - Quick question for the show - What’s the weirdest thing you’ve seen in the options market?

Question from Miller - Hello Volatility Views! Love this show. Is there some sort of volatility summit where the different players in the space get together to discuss the issues in the market, how to address them and what’s coming down the road?

VOLATILITY REVIEW

SPIKES - 13, up 0.75-point from last show.

VIX Cash - 12.75, up 0.5-points higher than last week.

VVIX - 84, 1-point lower than last show

VIX Options: Friday - 148, ADV - 459k, Total 7.41m (6.19m Calls, 1.22m Puts)

VXXB - 25.3, 1.3-points lower than last show.

Earnings Highlights:

Tuesday - Twitter, Snap

Wednesday - FB, Tesla, Microsoft, Boeing, Chipotle, PayPal, WWE

Thursday - Amazon, Starbucks, Intel, Grubhub, Mattel

VOLATILITY VOICEMAIL

#Options #QOTW: $TSLA open interest continues to be dominated by far #OTM "Mystery Puts." The lion's share of the OI is at the 100 strike and below. There are many reasons for this. But it leads to a simple question - do you think $TSLA be below $100 by Jan expiration?

- Yes
- No

Question from Vivic 3 - Now that spikes is live what is the status of the other vol newcomers that have appeared on your show like Voldex and Volx?

Question from Benson H - Is there any clear winner for earnings season right now for a volatility trader? Is it short vol or long vol that’s winning the day right now?

CRYSTAL BALL

Two weeks ago:

Mark L. - 13.25

Mark S. - 12.37

Next week:

Mark L. - 12.75

Mark S. - 12.37

Volatility Review: Brexit, Brexit, Brexit!!!

Weekly Options Insider Poll - Do you think the UK will make a Brexit from the EU?

Yah - 24%
Nah - 43%
I am sick of Brexit - 33%

Volatility Voicemail: Listener questions and comments
Question from Tronghi: Detailed thoughts on VIX futures curve as of June 15.

Question from JVon: What strategies don't work for the short VIX ratio call spread.
Question from BB Wins: Can you give me an example of good strikes for a VIX 1-by-2 ratio spread if I use open interest as an indicator?

Crystal Ball: Where will the VIX close before the long holiday weekend?

Russell: 12
Mark S.: 26
Mark L.: 21

VOLATILITY REVIEW

SPIKES - 12.25, down 0.5-points from last show

VIX Cash - 12.3, 0.7-points lower than last week

VVIX - 85, 6-points higher than last show. We saw the expected pop but not the expected move in VIX/VXX

VIX Options - ADV: 530k, Total 11.1m (8.41m Calls, 2.65m Puts)

VXXB - 26.6, 1.4-points lower than last show

VOLATILITY VOICEMAIL

Question from Jim Daily - Just to clarify. Are they really staying with $VXXB? There’s no name change coming?

Comment from Jack Heneka - Hi, greetings from Europe!

Question from Curious George - RE: VXEFA silly prints. My question is: VXEFA has had some ridiculous intraday spikes. Yesterday O-11.8, C-11.4 with a High 25.5? Can you weigh in on what is causing that and what CBOE might do to eliminate these nonsensical prints? Also, really enjoyed your coverage of SPIKES. Are they going to do anything in EAFE or EEM? Thanks for all the good work you do!

Question from Allen Y. - I get that if i buy vix options i can hedge them with vix futures. If i trade spikes options can I also hedge them with VIX futures or do I have to do some sort of spy straddle? It seems from my initial review that vix futures are closely correlated enough to get the job done.

CRYSTAL BALL

Last week:

Mark L. - 13.25

Mark S. - 12.37

Simon - 12.65
Next week:

Mark L. - 12.75

Mark S. - 12.37

VOLATILITY REVIEW

A week of mild rallies, trade war progress and dwindling recession fears killing volatility.

Non-farms did not spark any volatility.

SPIKES - 12.8, down nearly 1.5-points from last show

VIX Cash - 13, 1-point lower than last week

VVIX - 79, 8-points lower than last show
VIX Options - ADV: 523k, Total 10.0m (7.68m Calls, 2.32m Puts)

VXXB - 28, 1.5-points lower than last show

LYFT extremely volatile post IPO.

VOLATILITY VOICEMAIL

Comment from T Mal - I don’t do those for a credit 1x2, might as well reduce the distance between the strikes and pay a little
Question from White Leo - When do you think we’ll see new inverse volatility tradeable products hit the market? I miss the old XIV days.
Comment from Mark Brandt - Embrace the coming Volpocalypse
Question from PBWO9 - Hello to my favorite vol show. Thx for keeping me company on the train every week. Love it! 5 stars on all platforms from me. My q - I know you’ve talked a lot about the feb “VIXocalypse” from last year and the meltdown of the inverse volatility products like xiv. Now with the benefit of hindsight do you think that the prevelance of inverse products made the volatility spike much worse than it otherwise would have been. Also is the inverse true and now that those products are dead are we somewhat insulated from a repeat of vix spiking back up to 80.
Question from Jim Daily - Just to clarify. Are they really staying with $VXXB? There’s no name change coming?

CRYSTAL BALL

Last week:

Mark L. - 13.75

Andrew - 13.20

Simon - 13.25
Next week:

Mark L. - 13.25
Mark S. - 12.37

Simon - 12.65

VOLATILITY REVIEW

A week of mild rallies is killing volatility. Latest Brexit fail is not spooking the market.

SPIKES - 14.1, nearly 3-points lower than last show.

VIX Cash - 14, 2.5-points higher than last week.

VVIX - 87, 11-points lower than last show.

VIX Options - ADV: 549k, Total 9.37m (7.18m Calls, 2.19m Puts). More 1x2 call spread today.

VXXB - 29.5, 2.5-points lower than last show.

CRYSTAL BALL

Last week:

Mark L. - 14.25
Mark S. - 12.37
Simon - 13.55
Next week:

Mark L. - 13.75
Mark S. - 13.20
Simon - 13.25

VOLATILITY REVIEW

SPIKES - 16.87, nearly 5-points higher than last show

VIX Cash - 16.5, nearly 4-points higher than last week

VVIX - 98 - 18-points higher than last show

VXXB - 32, nearly 4-points higher than last show

VIX Options - ADV: 569k, Total 8.71m (6.65m Calls, 2.06m Puts)

A strong selloff sparked by weak economic data in US & Europe. Europe's stock volatility gauge hits six-week high as weak data stirs worries

VOLATILITY VOICEMAIL

Question from Brew Master 3 - What does all of this mean for the vol market? Is this a problem for new vol players and products trying to get into the space?

Comment from Mark Brandt - Sold the 32d 15/11 put spread to buy the 21 calls for a nickel. Liking it!
Question from Nico Lee - There are so many questions swirling around VIX right now. How do we avoid these types of problems in the future so people can have faith that the volatility space isn’t rigged against them.

CRYSTAL BALL

Next week:

Mark L. - 14.25
Mark S. - 12.37
Simon - 13.55

VOLATILITY VIEWPOINT

Guest: Simon Ho - CEO, T3 Index

What about the burgeoning volatility market in Australia?

What is price dragging? How does it help to avoid the manipulation issues plaguing VIX?

Is SPIKES performing up to your expectations during the recent resurgence of volatility?

VOLATILITY REVIEW

Weak jobs and trade reports

SPIKES -17.25, 2.5-points higher than last show.

VIX Cash - 17.50, nearly 3-points higher than last week.

VVIX - 91, 11-points higher than last show

VIX Options - ADV: 499k, Total 9.23m

A ratio stupid of 1x3 roll in VIX

VXXB - 34.1, 2.6-point higher than last week.

CRYSTAL BALL

Next week:

Mark L. - 14.75
Mark S. - 13.75
Simon - 15.25

VOLATILITY VIEWPOINT

SPIKES

What is it? Why bring it to the market now?

SPIKES launched on Feb 21. How did it go? How has the market responded to SPIKES?

How is the liquidity shaping up in SPIKES in the early days?

VOLATILITY REVIEW

SPIKES - 14.79
VIX Cash - 14.75
VVIX - 80 VIX Options - ADV: 476k

VXXB - 31.5

VOLATILITY VOICEMAIL

Question from J Sign - Is Spikes live? I can’t find it on my broker screen? What’s the ticker? Question from Vex1 - Why does it take so long for new volatility products to come to market?

CRYSTAL BALL

Next week:

Mark L. - 14.50

Mark S. - 13.05

Best of Volatility Views: Back to the BeginningIt's a shortened holiday week. So we thought we'd take you back to the primordial ooze days of Volatility Views with the inaugural sneak preview episode from August 2011.

VOLATILITY REVIEW

VIX Cash - 14.8, 2.5-points lower than last week.

VVIX - 80, 7.5-points lower than last show.

VIX Options - ADV:476k, Total 6.20M (4.86M Calls, 1.34M Puts)

VXXB - 32.5, 2.5-points lower than last show.

SVXY - 46, unchanged from last show.

VOLATILITY VOICEMAIL

#QOTW - $VXX is dead! Long Live $VXXB! There's a (somewhat) new kid on the #Volatility trading block. Are you trading $VXXB #options yet? If not, how are you getting your #Volatility fix these days? $VIX $TVIX $SVXY

43% - Yes: Jumped into $VXXB
11% - No: Spreads are too wide
14% - No: Prefer $TVIX, etc
32% - No: Prefer $VIX #options

Question from Thomas Weber - If I am short a deep in the money call in SPY (delta near 1), what are the odds I will be assigned the Thursday night before Friday expiration?

Question from Jelevis - Does it make sense to just get long ratio vertical put spreads in VXX as opposed to just buying the puts? Make the premium negligible so you don’t get hurt if it spikes against you in the near term. If it drops it will probably do so slowly so you have time to get out. Or you can just pick up VXX shares - at a hopefully low strike price so further erosion will be limited. Then you can always just wheel out of those if the need arises. Thoughts Vol swammis? This the VXX silver bullet trade?

CRYSTAL BALL

Last week:

Mark L. - 17.25

Mark S. - 16.25

Next week:

Mark L. - 15.50

Andrew - 14.25

VOLATILITY REVIEW

VIX Cash - 17.18, can you say Bullseye!?

VVIX - 87.5, approx. 8-points higher than last show, dipped to 76.45 earlier this week.

VIX Options - 156k, ADV: 497k, Total 8.72m (6.68m Calls, 2.05m Puts)

VXXB - 35, 2-points lower than last show. Today - 40k, ADV - 199k

VOLATILITY VOICEMAIL

#QOTW - With everyone still shaking off #SuperBowl haze, let's start the week by applying your trading mindset to next season. If you had to buy a call on one team to make it into next year's big game - which team are you buying? Feeling another team - let us know below.

- Patriots
- Rams
- Bears (legally obligated)
- Saints

Question from Brian Collamer - Hi Mark, Listened to the last VV show and heard you mention my trade again and thought I'd set the record straight....This trade was in my ROTH, can't be naked anything. Sold one 15 call, bought two 19 calls. Got a credit of .05c. Did I buy or sell to open this position?Closed position for a debit of .07c. Did I buy or sell to close this position? Round trip with commissions cost was a little under $30 (Probably should have bought Salvo's book instead of giving turity bucks to TD Ameritrade...) I think I had the right idea for a hedge, just got the "moneyness" of the strikes wrong. VX curve was very flat. March call prices were very close in price to May calls. Since I'm paying almost the same price for a May call spread vs a March call spread, does it make sense to get more time to expiration? Thanks again!

Question from BPin - Heard your discussion of the listener question from Brian Collamer on the last few episodes. Seems like the main concern was being short “units.” Can you clarify what you meant by that? Cool show. What do you guys think of the vix coverage on zero hedge?

Comment from Options Game - Translated from French by Microsoft - You should follow @Options, it's a good podcasts that will give you ideas.

CRYSTAL BALL

Last week:

Mark L. - 17.05

Mark S. - 15.25

Next week:

Mark L. -17.25

Mark S. - 16.26

Volatility Review - Jan VIX futures volume down size from 2017
- Overview of Hot VIX options positions - Overview of interesting VIX options trades - Will there be an end-of-day selloff in VIX futures from VXX
- First look at hot VXXB options positions
- Earnings Volatility Overview: AMZN, MSFT, FB, QCOM, AAPL and more

Volatility Voicemail
- Why is the market so slow to adopt VXXB
- Can market makers see if your spx or vix order is open or close
- and more Crystal Ball The Meatball finally wins. This weeks' picks: Mark L. - 17.05 Mark S. - 15.25

Today Mark and Mark discuss:

Volatility Review Segment

VIX and VVIX relatively unchd. from last week.
VIX futures still weirdly flat
VIX options volume still relatively anemic
VXX options love switching to calls
How will the Shutdown Deal impact volatility?

Earnings Volatility Review

We discuss:

INTC
SBUX
XLNX
JBLU
and more

Volatility Voicemail

We answer you questions about INTC volatility, ratio 1x2 spreads and more.

Crystall Ball Picks

Mark L. - 17.25
Mark S. 16.25

Volatility Views 338: Boulevard of Broken VXX Dreams
- Host: Mark Longo, CEO - Options Insider Media Group
- Co-Host: Mark Sebastian, Founder - OptionPit.com

Volatility Review
- Major indices up nearly 1.5% across the board with volatility taking a bath.
- Mark and Mark break down the legion of Jan VXX puts that will expire worthless this week.

Volatility Voicemail
- We answer your questions about VIX 1x2 verticals, VXX sadness, Powell puts and more...

Crystal Ball
- Our picks for VIX next week:
Mark L. - 17.25
Mark S. - 16.25

VOLATILITY VIEWS 337: Looking At VIX From A European Perspective

HOST: MARK LONGO, OPTIONS INSIDER MEDIA GROUP
SPECIAL GUEST CO-HOST: AASH VYAS, PORTFOLIO MANAGER - TUNGSTEN INVESTMENT FUNDS

VOLATILITY REVIEW SEGMENT
VIX STILL EERILY FLAT - HOVERING AROUND 20 LEVEL.
MARK/ANDREW VOLATILITY REVIEW - WHICH VOLATILITY TRADES, TRENDS OR DEVELOPMENTS CAUGHT YOUR EYE THIS WEEK?

VIX CASH
19.25 - 3.5 PTS LOWER THAN LAST SHOW

VVIX
85.5 - 4.5 PTS HIGHER THAN LAST SHOW

VIX FUTURES CURVE
STRANGELY FLAT
FRONT MONTH: .4PT PREMIUM TO CASH
2ND MONTH: .65 PT PREMIUM TO CASH

VIX OPTIONS
TODAY - 215K
ADV - 584K NEARLY UNCHD FROM LAST SHOW

TOP VIX POSITIONS
327336 .VIX Feb 13th 37.5 C, chg -2140
245513 .VIX Jan 16th 30.0 C, chg -243
213192 .VIX Jan 16th 35.0 C, chg -24
209890 .VIX Feb 13th 40.0 C, chg +175
170651 .VIX Jan 16th 32.5 C, chg -380
164631 .VIX Apr 17th 45.0 C, chg +2463
156643 .VIX Jan 16th 18.0 P, chg +571
153838 .VIX Apr 17th 70.0 C, no chg
144909 .VIX Feb 13th 35.0 C, chg +3900
140853 .VIX Apr 17th 37.5 C, no chg
138566 .VIX Mar 19th 37.5 C, chg -3
135504 .VIX Jan 16th 24.0 C, chg -308
132670 .VIX Jan 16th 15.0 P, chg +292
131605 .VIX Jan 16th 16.0 P, chg +3575
124540 .VIX May 22nd 37.5 C, no chg
122430 .VIX Jan 16th 25.0 C, chg -3957
121452 .VIX Mar 19th 40.0 C, chg -286
121369 .VIX Feb 13th 30.0 C, chg +29260
116491 .VIX Jan 16th 19.0 P, chg +2240
116019 .VIX Jan 16th 20.0 P, chg +3823
Total 8.63m (6.41m Calls, 2.22m Puts)

HOT VIX OPTIONS TODAY
FEB RR/STRANGLE?
POTENTIALLY CLOSING?
15000 VIX Feb 13th 45.0 Calls $0.12 (FT Theo=0.09) EDGE=0.03 ASK CBOE 09:39:32.942 IV=136.3% -0.9 CBOE 59k x $0.05 - $0.15 x 62k CBOE SPREAD VIX=20.25 Fwd 122%OTM Detail ContractHist
15000 VIX Feb 13th 16.0 Puts $0.27 (FT Theo=0.26) EDGE=0.01 MID CBOE 09:39:32.941 IV=72.8% +3.6 CBOE 24 x $0.25 - $0.3 x 54k CBOE SPREAD VIX=20.25 Fwd 20%OTM Detail ContractHist

11660 VIX Mar 19th 30.0 Calls $0.64 (FT Theo=0.63) EDGE=0.01 MID CBOE 10:56:38.471 IV=86.0% -0.6 CBOE 27k x $0.6 - $0.7 x 43k CBOE SPIM VIX=20.08 Fwd 49%OTM Detail ContractHist

VXX
40 - 4 PTS LOWER THAN LAST SHOW
TODAY - 121K
ADV - 273K

VXX TOP POSITIONS
203693 VXX Jan 10.0 P, no chg
82235 VXX Jan 15.0 P, no chg
70226 VXX Jan 5.0 P (Nonstd VXX2), no chg
65901 VXX Jan 33.0 P, chg +53
53317 VXX Jan 20.0 P, no chg
51873 VXX Jan 25.0 P, no chg
51826 VXX Jan 50.0 C, chg +14
47328 VXX Jan 30.0 P, chg -38
39767 VXX Jan 50.0 C (Nonstd VXX2), no chg
39578 VXX Jan 52.0 C, chg +22
39265 VXX Jan 40.0 P, chg +549
34849 VXX Jan 35.0 P, chg +92
33589 VXX Jan 18.0 P, no chg
32999 VXX Jan 31.0 P, no chg
32052 VXX Jan 32.0 P, no chg
32000 VXX Jan 28.0 P, chg -1
28451 VXX Jan 35.0 C, chg +8
28171 VXX Jan 27.0 P, no chg
28100 VXX Jan 60.0 C (Nonstd VXX2), no chg
26737 VXX Jan 37.0 P, chg -629
Total 2.41m (1.06m Calls, 1.35m Puts)

VXX TOP TRADES
4829 VXX Jan 39.0 Puts $0.80 (FT Theo=0.81) EDGE=0.01 ASK [MULTI] 11:45:32.979 IV=59.4% +0.7 CBOE 204 x $0.79 - $0.8 x 1167 ISE VXX=40.13 2%OTM Detail ContractHist

2430 VXX Jan 59.0 Calls $0.03 (FT Theo=0.01) EDGE=0.02 BID [MULTI] 12:23:07.285 IV=123.2% +11.1 AMEX 1822 x $0.03 - $0.04 x 1029 GEMX VXX=39.82 Ref 48%OTM Detail ContractHist

SVXY
46 - UNCHD FROM LAST SHOW

VOLATILITY VOICEMAIL
*QUESTION FROM JLVC: What’s the vol crew predicting for 2019?

*QUESTION FROM JT: Any new year's resolutions for vol traders?

*QUESTION FROM TONTAN: So is the short vol, vix trade dead? Should we all just buy vix or vxx calls?

*QUESTION FROM E5L4: Not looking good for the 200k jan 10 puts in VXX.

*QUESTION FROM LROCK3: Is there an update on spikes launch?

CRYSTAL BALL
WHERE WILL VIX BE THIS WEEK?
WINNER - MARK L. with 19.25?
LOSER - The Greasy Meatball with 17.50?

WHERE WILL VIX BE NEXT WEEK?
MARK: 19.25
GUEST: 17.5
AASH VIX CLOSE 2019 PREDICTION IS 22

Volatility Views 336: Kicking off 2019 With Some Volatility

Host: Mark Longo, CEO & Founder - The Options Insider Media Group
Co-Host: Mark Sebastian, Co-Founder -OptionPit.com, Portfolio Manager - Karman Line Capital

VOLATILITY REVIEW

Massive jobs report - The economy added 312k jobs in Dec, although unemployment is up to 3.9% Powell’s speech apparently didn’t save the market too much.
VIX Cash - 22.75, nearly 6-points lower than last show.
VVIX - 81, 14-points lower than last show.
VIX Options - ADV: 586k, Total 7.49m (5.71m Calls, 1.78m Puts)
VXX - 50, 4-points higher than last show.
TOP VIX POSITIONS - ALL CALLS - FIRST TIME IN AGES
331732 .VIX Feb 13th 37.5 C, chg +1807
244006 .VIX Jan 16th 30.0 C, chg +2028
200570 .VIX Jan 16th 35.0 C, chg -4014
166294 .VIX Jan 16th 32.5 C, chg +4868
161664 .VIX Feb 13th 40.0 C, chg +1486
160240 .VIX Apr 17th 45.0 C, no chg
153836 .VIX Apr 17th 70.0 C, chg +110
138616 .VIX Mar 19th 37.5 C, chg +10
135993 .VIX Jan 16th 24.0 C, chg -128
135869 .VIX Feb 13th 35.0 C, chg +3579
133744 .VIX Apr 17th 37.5 C, chg +534
132348 .VIX Jan 16th 15.0 P, chg -1
127371 .VIX Jan 16th 18.0 P, chg -6623
127070 .VIX Jan 16th 16.0 P, no chg
121718 .VIX Mar 19th 40.0 C, chg -4
114484 .VIX Jan 16th 25.0 C, chg +2019
114106 .VIX Jan 16th 20.0 P, chg +5384
102166 .VIX Mar 19th 35.0 C, chg +4
101408 .VIX Jan 16th 27.0 C, chg -563
100573 .VIX Jan 16th 37.5 C, chg +4451
Total 7.49m (5.71m Calls, 1.78m Puts)

AAPL VOL IN THE SPOTLIGHT

AAPL CRUSHES MARKET WITH RARE REVISION TO GUIDANCE. BIGGEST SINGLE DAY SELLOFF IN APPLE IN OVER A DECADE

Those $AAPL Jan 150 puts that everyone sold in our last poll for $2 are now ITM. So our question is - what do you do now? Do you keep the stock around $148? Sell covered calls to "wheel out?" Roll or close the position? Let us know here.

Happily buy $AAPL at $148
Wheel out w/Covered Call
Roll put Down
Close position
Vote Now at www.Twitter.com/Options

CRYSTAL BALL

Our mega 2019 Crystal Ball Prediction Contest is underway. Many of you have already participated. Here's a few of your predictions for the closing price of VIX in 2019:

WHERE WILL VIX BE AT THE CLOSE OF 2019?
ROCKLOBSTER- 16.01, 14.99
Mark L. 17.10 - AVG FOR YEAR 17.60
Greasy Meatball: CLOSE - 12.04, AVG. 14.05
akatz000: 31.5. I think we've got one more down day to round out 2018. Then again, I had just started trading vol and was holding XIV on Volpocalypse, so what do I know
Neil Wales - 13.3
contango - 12.14
Mail Man Dan - 12/31 closes at $257.50 on $SPY and $VIX at $22.50
Brad Huff - 27.25
Filip (FContangotrader) - 32.4
Matt Thompson - 18.03
Ahmed Sharif - Feels 3 cents too high to me
Pat Hennessy - 21.52
David Lincoln - 16.90
Bill Luby - EOY 2019 $VIX guesstimate: 15.83
Ophir Gottlieb - 25.42
Andrew Nightingale - 32
Andrew Giovinazzi - 16.1
Trading Volatility - 24.3
Steve Place: armageddon, end of world, plagues and locusts, markets close, 0 percent vol, checkmate
Volatility Trading: 17.50 2019 average with a 14.50 VIX at year end
Pat Hennessy, CMT: Proposing another form of this question. What will the average VIX (based on daily closes) be in 2019? Chart attached for reference of past years….My guess is 19.27...oh and dont hit me about "average VIX" issues
Zaphod: I wasnt sure what they meant and like this way. Have to drop in q1 from here, shenanigans/earnings, Mueller, settling/boredom....dont think we spend a lot of time below 16....so 21.35 as some spikes weigh on the average. No clue in reality ofc.
filip: Close your eyes and BTFD
Andrew Nightingale, CFA: 32
Jay Soloff: First half of 2019 average = 28, second half =16, but I think the lower prints outweigh the higher prints so we end up with an average like 18.5. Do not question the rigorous maths I used to come up with that number. It's proprietary and may involve an abacus and rye toast.
David Lincoln: 16.90, 17.9 for the average…
Trading Volatility: 24.3...Low of 17.6 and high of 63.2
Barton: Great chart. My guess is 25% between 2007 and 2008 levels. 17.54 X.75+32.69 X .25 = 21.33….I would have guessed half way between 2007 and 2008, if we did not have the systematic short vol crowd.
Matt Thompson, CFA: 18.03….Agree that's a better metric. End of year, you are really just guessing what is gonna happen in Dec...My 2019 average guess is 24.88
f ili p: $vix 32.4
Contangoking: 12.14
Next week VIX Pick:
Mark L. - 19.25
Mark S. - 17.50

VOLATILITY REVIEW

VIX Cash - 28, nearly 6-points higher than last show.

VVIX - 95, 10-points lower than last show.

Mnuchin Blames Volcker Rule, High-Speed Trading for Volatility - https://www.bloomberg.com/news/articles/2018-12-18/mnuchin-blames-volcker-rule-high-speed-trading-for-volatility

VIX Options - 575k, Total 6.73m (5.24m Calls, 1.50m Puts)

VXX - 50, 4-points higher than last show.

2018 Theme - The Year That Vol Returned, aka the year we got the real Trump administration

CRYSTAL BALL

Final #QOTW for 2018 - It's the big one! Time to play along w/ #VolatilityViews and dust off your #CrystalBall. Quite simply - where do you think $VIX will close for 2019? Bonus points: Reply/DM/Email w/ your specific pick. Closest (within 1pt) will win Fabulous Prizes.

Low: 8-11.99
Normal: 12 -16.99
Elevated: 17- 23
Very Elevated: > 23

Twitter Guesses:

Neil Wales - 13.3

Contango - 12.14

Mail Man Dan - 12/31 closes at $257.50 on $SPY and $VIX at $22.50

Brad Huff - 27.25

Filip (FContangotrader) - 32.4

Matt Thompson - 18.03

Ahmed Sharif - Feels 3 cents too high to me

Pat Hennessy - 21.52

David Lincoln - 16.90

Bill Luby - EOY 2019 $VIX guesstimate: 15.83

Ophir Gottlieb - 25.42

Andrew Nightingale - 32

Andrew Giovinazzi - 16.1

Trading Volatility - 24.3

Us:

Andrew - 16.01, Avg: 14.99

Mark L. - 17.10, Avg: 17.60

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

VIX Cash - 26.5, nearly 4-points higher than last show.
VVIX - 105, 8-points higher than last show
Mnuchin Blames Volcker Rule, High-Speed Trading for Volatility
VIX Options - ADV: 575k down nearly 20k from last show. Total 5.50m (4.23m Calls, 1.27m Puts)
VXX - 46, 6.5-points higher than last show.
SVXY - 43, almost 3 handles lower than last show.

Volatility Voicemail: Options question of the week

Which upcoming volatility product are you most excited about trading in 2019? Or are you content to stay with the original despite lingering issues?

SPIKES
Realday/RealVol
Voldex/Skewdex
I'll stick with VIX

Comments, questions, and musings:

Mark Twain on Volatility - "October. This is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August, and February." -Mark Twain
Comment from Pat Hennessy - There are a total of 6,600 $VIX Dec puts that will be ITM if the VIX settles above 24. 1.66 million VIX puts will expire totally worthless. This represents over 64% of all open VIX puts. Thanks for playing. Better luck next time.
Question from JLVC - What's the vol crew predicting for 2019?
Question from Sangfrois - Why no options on $TVIX?

Crystal Ball: Wild and reckless prognostication

Last week:

Mark L. - 19.25
Mark S. - 27.25

This week:

Mark L. - 23.45
Mark S. - 28.85

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

What exactly is afoot?
VIX cash
International volatility trends: France for the win!
Volatility opportunities
1-by-6 fever?
Aggressively naked
Take the money and run

Volatility Voicemail: Options questions of the week

Everyone loves trading AAPL Options. So the open interest is always very high. But a few interesting options dominate the rest. What do you think is the largest open position in AAPL right now? No cheating - try to use your #SpideySense.

Jan 2020 200 Call
Jan 250 Call
Dec 180 Put
Jan 100 Put

Listener questions and comments:

Question from F96 - Is there a listed equivalent to trading a variance swap? If not what's the closest approximation?
Question from T-Bags - Which new volatility product are you most excited about for 2019?

Crystal Ball: Wild prognostication

Last week:

Mark L. - 18.65
Mark S. - 23.00

This week:

Mark L. - 19.25
Mark S. - 27.25

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

VIX Cash - 22.65, 3.25 higher than last show
VVIX - 97, 3-points higher than last show
VIX Options - ADV: 594k - up nearly 50k from last show

Hot VIX options today:

10000 VIX Feb 13th 17.0 Puts $1.025
3999 VIX Dec 12th 30.0 Calls $0.10
42800 VIX Dec 19th 40.0 Calls $0.14
37700 VIX Jan 16th 32.5 Calls $0.562

Plus:

VXX - 35.5, 1-point lower than last show
SVXY - 46, almost 4 handles lower than last show

Volatility Voicemail: Listener questions and comments

Question from DaNincompoop - Are the futures really backward if it's just the cash that's higher?
Question from Charles Pierce - When does VXX make the switch to VXX B?
Question from ELanc3 - Over-under on when we'll see the next crop of new inverse volatility ETFs?

Crystal Ball: Wild prognostication ensues

Last week:

Mark L. - 17.65
Mark S. - 16.49

This week:

Mark L. - 18.65
Mark S. - 23.00

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

VIX Cash - 19.4, almost unchanged from two week ago
VIX - 94, 12-points lower than last show
VIX Options - ADV: 546k, Total 6.77m (4.81m Calls, 1.95m Puts)
VXX - 35.5, 1-point lower than last show
Crypto crushed below $4k recently

Volatility Voicemail: Options question of the week:

AAPL continues to take a beating - recently dropping below $175. We know many of you LOVE to trade $AAPL and this selloff creates opportunities. Looking ahead to Jan 2019 expiration- which trade would you prefer to make in $AAPL right now?

Sell Jan 150P for $1.65
Buy Jan 150P for $1.65
Sell Jan 200C for $1
Buy Jan 200C for $1

Listener questions and comments

Comment from Pete Yarbro - I'd sell this strangle.
Question from EELC5 - What's the lowest volatility can get in the SPX?
Comment from Nilai - I like Mark's idea for an erosionator in VXX. Would be something interesting to watch. Kind of like a smog report or tide report but for VXX.

Crystal Ball: Wild and reckless prognostication.

Two weeks ago we asked people to guess where VIX would close on 11/30 by the end of the show. Answer: 18.80

Mark L.: 18.15
Mark S.: 15.25
R Ray: 19.70 -.9
Richie Rich: 17.1
Alex P: 17.50
William Valentine: I'm going with 16-ish. (I'll define the margin of -ish next Friday).
Ophir Gottlieb: 19.23 - Vol is too cheap for a number of names and buying one-two day straddles is printing money. This is one of the best trading environments for vol in 5 years.
MRTOPTICK: 19.87
Neil Wales: 18.1 - .7
ConTango: 15.09
Andrew Giovinazzi: 15.91
David Lincoln: 16.50
Jim Carroll: I'll take 14.90 cuz bears will take a break before they try again...Just wanted to take the under! Come at me!!!!!!
Matt Thompson, CFA: 18.71056
Cmcapone: Kind of late, but for the 11/30 prognostication contest, put me down for 18.80.

This week:

Mark L. - 17.15
Mark S. - 16.35

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

Black Monday. Happy 30th Birthday to Volatility Skew!

The numbers:

VIX - 93.33
CBOE Skew Index - 146
VXN - 14.64

Russell's Weekly Rundown:

VIX ADV - 876k
VIX call/put - 4.1
VXX - 34.39
XIV - 105.87

Volatility Voicemail: Options question of the week

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

27% - Tesla - $TSLA
34% - Amazon - $AMZN
23% - Apple - $AAPL
16% - Alphabet - $GOOGL

Listener questions and comments:

Comment form MoneyEngine X3.5 - Buying CVS calls.

Crystal Ball: Wild and reckless prognostication

Last week:

Mark L. - 9.55
Mark S. - 10.25
Ghost of Russell - 28
Kevin - 10

This week:

Mark L. - 9.65
Mark S. - 10.16
Russell - 9.87

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

Sell-offs appear to be slowing down
Tech earnings weighing things down
Facebook: did they or didn't they?
Are we in a trade war?
VIX cash: 19.17
VVIX: 106 - up from last show
VIX futures keeping pace or outpacing the index
Blow out in nat gas options
NVDA, AMAT earnings

Volatility Voicemail: Listeners take over

Comment from Ninny - I think VIX will touch your kids.
Question from LLAX: How come you guys don't talk $SVXY or $TVIX on your show?
Question From TAX8T: New listener and first time writer. Awesome program. Love the vol trading breakdowns and the fun guests. Is there any way you can include a rundown of large OTC var and volatility prints on your show each week. Keep 'em coming.

Crystal Ball: Really reckless prognostication

Last week:

Mark L. - 17.65
Mark S. - 16.49

Two weeks from now:

Mark L. - 18.15
Mark S. - 15.25

Volatility Review: Earnings Highlights for the Week

Tuesday - GE, Sony, BP, FB, eBay, Pfizer, Coca-Cola
Wednesday - GM
Thursday - Apple, Starbucks, Weight Watchers, Spotify, Cigna, Dow/DuPont
Friday - ExxonMobil, Cboe, Alibaba, Chevron, Berkshire Hathaway

Volatility indicators:

VIX Cash - 17.75, 2.75-points lower than last show
VVIX - 100, unchanged from last show
VIX Options - ADV: 618k, VIX call/put: 2.1/1, Total 9.40m (6.29m Calls, 3.11m Puts)
VXX - 37.5, 3-points lower than last show

Volatility Voicemail: Options question of the week

We always like to take the pulse of our audience. This week we're checking in on your favorite strategies. What is your go-to #options strategy?

Butterflies
Covered Call/Short Put
Verticals, call or put
Calendars/Diagonals

Listener questions and comments

Question from Mina - Why is VIX so weird?
Question from Holan - That Meatball guy says he gets paid to buy $VXX puts. How?
Question from BD3 - Why no Nasdaq VIX futures? Why no options? Why can't I trade VIX on Nasdaq?

Crystal Ball: Wild and reckless prognostication

Last week:

Mark L. - 18.35
Mark S. - 16.5

This week:

Mark L. - 17.65
Mark S. - 16.49

Volatility Review: A look back at the week from a volatility perspective. Apple and Non-farms are on the radar today.

A rough month for equities:

9% Drop - the largest monthly Nasdaq drop since Nov 2008.
7% Drop - largest S&P monthly drop since Sept 2011.

Apple screwed the pooch:

Apple tumbles 7% after earnings on light guidance.
Market cap back below $1T

Earnings Highlights from Last Week:

Tuesday - GE, Sony, BP, FB, eBay, Pfizer, Coca-Cola
Wednesday - GM
Thursday - Apple, Starbucks, Weight Watchers, Spotify, Cigna, Dow/DuPont
Friday - ExxonMobil, Cboe, Alibaba, Chevron, Berkshire Hathaway

Volatility indexes:

VIX Cash - 20.5, 6.5-points lower than last show.
VVIX - 99, 21-handles lower than last show.
VIX Options - ADV: 609k, VIX call/put: 2.4/1, Total 8.24m (5.84m Calls, 2.40m Puts)
VXX - 37.5, 3-points lower than last show

Volatility Voicemail: Options question of the week:

Volatility is all over the place these days. Some say it's too cheap, others say it's too expensive. Either way they want to trade it. What's your weapon of choice when trading the wacky world of volatility?

VIX options/futures
VXX options/ shares
TVIX shares
SPX / SPY options

Listener questions and comments:

Question from Alan Jackson -You guys say to close or roll ahead of VIX expiration to avoid the settlement flimflammery. So when should I do it? The day before settlement? The last hour of the day? A few days before? What's the ideal closing scenario?
Question from Numrr - What's your preferred ratio of puts to underlying when trading VXX. Obviously you have to overweight with puts but how much? I like to keep 3 OTM puts on for every share of VXX. That way I'm biased short but also have something in my back pocket for weeks like this. What are your thoughts on that ratio?

Crystal Ball: Wild and reckless prognostication

Last week:

Mark L. - 18.15
Mark S. - 17.25
Guest - 18.50

This week:

Mark L. - 18.35
Mark S. - 16.50

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

VIX Cash - 26.9, 6.8 points higher than last show
VVIX - 120, 4 handles higher than last show
A Listless VIX Says This Sell-Off Reeks of 'Dumb Money' by Luke Kawa - Bloomberg
VIX Options - ADV: 574k, VIX call/put: 2.8/1, Total 7.47m (5.53m Calls, 1.95m Puts)
VXX - 40.75, 6 points higher than last show
Bitcoin Price Volatility Falls to Lowest Of 2018
The Dollar Is the New VIX, And the Bitcoin Connection by Brian Kelly - Forbes

Volatility Voicemail: Options question of the week

Earnings are back with big tech names on the docket. Which of the following will be lighting up your #Options trading this week? Bonus points for your preferred strategies - e.g. call vertical, straddle, etc.

28% - Microsoft $MSFT
34% - Amazon $AMZN
10% - Alphabet $GOOGL
28% - Twitter $TWTR

Listener questions and comments:

Question from Cube Finance - Do we smell the distinct odor of feedback loops about to take off? #risk #volatility
Question from Darren Hom - VXX and the index it's based on provided a statistically significant exposure to shorting straddles. This was not the case for VIX, presumably because of volatility drag. Is it that bad that XIV is gone?
Question from PRGR0 - SPY or SPX better for straight vol plays like straddles?

Crystal Ball: Your prognostication headquarters

Last week:

Mark L. - 17.75
Mark S. - 16.25

This week:

Mark L. - 18.15
Mark S. - 17.25
Guest - 18.50

Volatility Viewpoint: Featuring special guest Bob Krause of Demand Derivatives.

He discusses:

What is Demand Derivatives?
What happened to VolX?
What's new from Demand Derivatives?
Limited-risk futures contracts
Taking a cue from Buffett
Converting the skeptics

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

VIX cash: 2.5 points lower than last show
VIX range this week: 17.06 - 22.89
VVIX 10 handles lower than last show
VIX futures curve: super backward again
Vol is expensive

Crystal Ball: Wild and reckless prognostication

Last week:

Mark: 17.65
Andrew: 26.01

This week:

Mark L.: 17.75
Mark S.: 16.25

Volatility Review: VIX Cash - 22.35, 6 point from last show, up nearly 10 points from two weeks ago. VVIX - 126, 15 handles higher than last show, 34 higher than two weeks ago. VIX Options - ADV: 541k, VIX call/put: 2.7/1, Total 9.53m (6.93m Calls, 2.60m Puts), VXX - 35.65, 9 points higher than last show.

Volatility Voicemail: Listener questions and comments

Comment from DelVecchio - Dude WTF #VIX.
Comment from XXX - "THERE IS A SPECIAL PLACE IN HELL FOR PEOPLE WHO QUOTE VIX AS A PERCENT."
Comment from Martin Ryan - XIV imploded. TVIX is alive and kicking - I've used it for years. The other options have their advantages and disadvantages too - good luck trying to get a reasonable fill from options traders in a fast market. At least with an ETF or ETN I have liquidity...
Question from Grigs - Why would shorting volatility during VIX futures contango fail?
Question from JasonNolk - Suggestions on how to be best net neutral here?

Crystal Ball: Wild and reckless prognostication

Last week:

Mark L. - 12.55
Andrew - 13.25

This week:

Mark L. - 17.65
Andrew - 26.01

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

Non-farms come in lower than expected
Unemployment drops to 3.7%, the lowest since 1969
Bitcoin vol falls to lowest levels this year
VIX up 4.3 from last week
VVIX up 19 from last week
VXX nearly unchanged from last week

Volatility Voicemail: Volatility Flash Poll

What is your weapon of choice when trading volatility? VIX VXX SPX SPY

VIX
VXX
SPY/ SPX options
Other

Listener questions and comments:

Comment from Martin Ryan - TVIX, UVXY, SVXY.I've given you three good alternatives (one an inverse). There is nothing little about either TVIX or UVXY - both have good liquidity, tight spreads and good trading price action. The VIX imploded, but the aforementioned are doing well as effective alternatives to options.
Comment from Ryan - ETF - SQQQ
Question from Alacor - Like the show. Tried my hand at crystal ball. Not good. Heard you talk about straddle runs in SPX. Are there any products that package hedged ATM straddles as a product? Maybe they offer to delta hedge as well?
Question from Telly0 - Are there any long VIX vehicles that don't erode to zero?
Question from T Dog - Is it better to only take the short volatility trades and ignore the long volatility trades?
Question from one0761 - Are we in the midst of a major correction.

Crystal Ball: Wild and reckless prognostication

Last week:

Mark L. - 11.75
Mark S. - 12.15
Bill - 13

This week:

Mark L. - 12.55
Andrew - 13.25

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

This week, featuring guest co-host Bill Valentine from Valentine Ventures.

The old VIX call vs SPX put debate continues
VIX Cash - 12.5, up 0.3 from last show
RVX - 14.6, up 0.7 from last week
VVIX - 89, 2 handles higher than last show
Size "hedge" in SPX puts this week
VIX Options - ADV, 452K, VIX call/put: 2.8/1, Total 7.77m (5.74m Calls, 2.03m Puts)
VXX - 26.65, almost unchanged from last show

Volatility Voicemail: Volatility Flash Poll

The CBOE Skew Index alarmed many when it soared above 150. Of course, every index tells its own skew story. Which index do you think has the steepest skew right now (aka 25D put vol vs. 25D Call vol)?

Russell 2000
S&P 500
Nasdaq
Other

Listener questions and comments:

Question from Leans - Do you think SVXY will ever go back to its pre-Feb structure?
Question from Tim - Is there really such a thing as a "covered call" in VIX since the options don't expire into futures? If I'm long a future and sell a XIV call against it what is that called?

Crystal Ball: Your prognostication headquarters

Last week:

Mark L. - 11.25
Mark S. - 12.14

This week:

Mark L. - 11.75
Mark S. - 12.15
Bill - 13.00

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

VIX Cash - 12.2, down 2.2 points from last show

RVX - 13.9, down 2 points from last week
VVIX - 91, nine handles lower than last show
Cboe SKEW Index Tops 150 for Record Four Straight Trading Days; Some Cite Surge in Black-Swan Hedging
VIX Options - ADV: 467k, VIX call/put: 2.8/1, Total 6.86m (5.04m Calls, 1.82m Puts)
More size Oct/Nov risk reversal on Weds - over 50k on the tape.
VXX - 26.65, over 1 point lower than last show.

Volatility Voicemail: Options question of the week

Some people look to analysts for their market outlook. We prefer to analyze actual options positions. This week we're looking at SPY. In a nutshell - what do you think is the largest options position in SPY right now? No cheating - what does your gut tell you?

16% - SPY Mar 255.0 P
32% - SPY Oct 272.0 P
34% - SPY Dec 31st 320.0 C
18% - SPY Sep 300.0 C

Listener questions and comments:

Question from Godfr3y - I'm long VXX from 28.30 and long Jan 25 puts from $.55. Today I sold the Oct05 29.50 call for $.56. Thoughts? Should I just scrap the shares?
Question from Piers - I'm long a bunch of VXX puts. I'm wondering if it is cheaper to buy VXX stock rather than the OTM calls to hedge against vol spikes over short periods like weekends or a few days. The underlying isn't going to suffer the same theta as the options and you get more deltas.

Crystal Ball: Wild prognostication

Last week:

Mark L. - 11.67
Mark S. - 12.15

Next week:

Mark L. - 11.25
Mark S. - 12.14

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

VIX Cash - 12.2, down 2.2 from last show
RVX - 13.9, down 2 points from last week
VVIX - 91, nine handles lower than last show
VIX Options - ADV: 459k, VIX call/put: 3/1, Total 8.66m (6.48m Calls, 2.18m Puts)
Why go 1x2 when you can go 1x4!?
VXX - 27.80, nearly 3 points lower than last show

Volatility Voicemail: Volatility Flash Poll

VIX is threatening 15 and VXX is back above 30. Is this the return of volatility or just a blip? Quite simply - where will we be at the end of next week?

14% - Here: VIX=14, VXX=30
32% - Low: VIX=<13, VXX=<29
15% - Lower: VIX=<12, VXX=<28
39% - Higher: VIX=<15, VXX=<30

Listnener Questions and Comments:

Question from Eleva7 - Since VXX erodes so aggressively is the best bet for long players to overwrite calls aggressively? Slight OTM, ATM or perhaps even ITM? Has anyone researched this to see if that outperforms long only?
Comment from Louis Pena - Insider should create its own indicator. Some sort of VXX erosion indicator. The Erosionator?

Crystal Ball: Wild prognostication

Last week:

Mark L. - 13.75
Mark S. - 13.00

This week:

Mark L. - 11.67
Mark S. - 12.75

Volatility Review: A look at last week from a volatility perspective

VIX Cash - 14.4, up 2.4 from two weeks ago

RVX - 15.90
VVIX - 100 - 7 handles higher than last show
VIX Options - ADV: 459k, VIX call/put: 3.3/1, Total 7.62m (5.82m Calls, 1.80m Puts)
VXX - 30.40, nearly 2-points higher than last show

Crystal Ball: Your prognostication headquarters

Last week:

Mark L. 11.55
Mark S. - 11.95

This week:

Mark L. - 13.75
Mark S. - 13.00

This episode was originally posted on 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

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

VIX Cash - 12, down one point from last week.
VVIX - 93, ten handles lower than last week.
VIX OPTIONS - ADV: 462k, VIX call/put: 3.3/1, Total 6.31m (4.83m Calls, 1.48m Puts)
Return of the 1x2?
VXX - 28.65, one and a half points lower than last week.
Earnings Volatility: NVDA - ATM straddle: $16.50, approx. 6%
VIX lawsuit press release - Kessler Topaz chosen as co-lead counsel overseeing national antitrust case alleging manipulation of CBOE's Volatility Index

Volatility Voicemail: Options question of the week

We're talking about crypto derivatives at the @BlockchainVoice Conference. So this week we want to know which crypto product you'd like to see listed on a major venue next?

Bitcoin Options
Ripple Options/Futures
Ether Options/Futures
Litecoin Options/Futures

Listener questions and comments

Comment from Vixologist: VolTwits should listen to @ScottNations on latest installment of Volatility Views from @Options https://tinyurl.com/yb9uebww Scott talks about the alt volatility measures he has developed.
Comment from Middling Radical: I have his thinkorswim indices up but confess I find the VIX complex and certain ratios just as helpful.
Comment from FearMerchant: I have them on my screen and I was tracking a ratio of VIX/VOLI for a while to see when they diverge/converge. It proved to be of little value.
Comment from David Lincoln : They have some good people on that show....... ;)
Comment from FContangotrader: VIX at 12.28 and the market at ATH says everyone are hedged with puts SPX,VVIX over 100 says lot of VIX calls buying as a hedge also, market will break to the upside.
Comment from Nathan L.: All these people buying VIX puts have me confused. How low can this vol bear trend really get - maybe 9? So the downside is quite limited. I definitely prefer bull call spreads in this environment with potentially selling OTM puts as a financing tool.

Crystal BallL Your prognostication headquarters

Last week:

Mark L.: 12.25
Mark S.: 11.95

Next week:

Mark L.: 11.55
Mark S.: 11.95

Volatility Review, featuring special guest Scott Nations, CNBC Contributor & Creator of VolDex.

He discusses:

An update on SkewDex/VolDex.
Will Nasdaq list it soon?
Does the current debate over VIX manipulation create an opportunity for VolDex, or does it muddy the waters for all volatility products?
Is he hearing more clients and customers who are interested in a skew-less VIX?

A look back at the week from a volatility perspective

We 've had a volatility whipsaw recently - we 're up, then we 're down.
VIX Cash - 13, slightly up from last week.
VVIX - 103.5, higher than last week.
VIX Options - ADV: 451k, VIX call/put: 2.9/1, Total 8.79m (6.56m Calls, 2.22m Puts)
VXX - 30.25, slightly higher than last week.

Volatility Voicemail: Listeners weigh in

Question from B Bort - Why does skew exist in VIX options?
Question from Lisl - I looked at VXX Jan 10 puts then ended up moving up the chain to the 20s. Got some ranging from $.65-$.82. So a little bit more but I think my odds are better. Although I could get 60-80 of the other puts for every one of these. Do you hate?

Volatility flash poll: Play along with the Volatility Views crew and make your own guess for the Crystal Ball segment. Where will VIX be at 1pm Central on Friday (aka the end of the show).

12.5-12.99
13-13.49
13.5-13.99
14-14.5

Crystal Ball: Your prognostication headquarters

Last week:

Mark L. - 12.25
Andrew - 11.01
Guest - 13.05

This week:

Mark L. - 12.25
Mark S. - 11.95

Volatility Review with very special guest co-host Russell Rhoads, Head of Derivatives Research at the Tabb Group.

Volatility and selloffs return briefly during earning season.
VIX Cash - 11.83, down slightly from last week.
VVIX - 88, unchanged from last week.
VIX Options - ADV: 440k, VIX call/put: 3/1, Total 7.95m (5.96m Calls, 1.99m Puts)
VXX - 28.5, 2 points lower than last week.

Volatility options question of the week: VXX has finally broken through the 30 handle. Many of you are fascinated with the ongoing saga of the VXX Jan 10 Puts. OI is over 200k and thousands continue to trade for $.01. Our question: Would you trade these puts?

57% - Yes: Buy for $.01
14% - Yes: Sell for $.01
23% - No. It's Just Gambling
6% - I have enough VXX Puts

Volatility Voicemail: Listeners have their say

Question from VolBug - When it's all said and done, is the bottom line that all inverse VIX products, whether short term or mid-term, can be subject to an acceleration event like SVXY given a high enough spike in the VIX? Thanks!
Question from LL09 - Are you guys still trading these things? Saw 1k go up yesterday. Was that meatball?
Comment from LVAC2 - Etrade wants to charge me $159.95 to buy 200 of those VXX Jan 10 puts. That's highway robbery!

Crystal Ball: Getting our prognosticating on

Last week:

Mark L. -11.45
Mark S. -12.76
Guest - 12.05

This week:

Mark L. -12.25
Andrew -11.01
Russell - 13.05

Volatility Review: A review of the week from a volatility point of view, featuring guest co-host David Lincoln of The Short Vol Show.

VIX Cash - 11.83, down slightly from last week.
VVIX - 88, three-points lower than last week.
VIX Options - ADV: 440k, VIX call/put: 2.9/1, Total 6.44m (4.79m Calls, 1.64m Puts)
VXX - 30.5, half a point lower than last week.
Earnings Volatility: Apple, Tesla, Activision/Blizzard, Shake Shack, Blue Apron, Go Pro and Cboe

Volatility Voicemail: Listners take over

Options question of the week: Earnings season is still in full swing. Which names will dominate your #Options trading this week?

46% - Apple, $AAPL
40% - Tesla, $TSLA
8% - GoPro, $GPRO
6% - CBOE, $CBOE

Listener questions and comments:

Question from Nils - You guys buying any more of those VXX puts?
Question from Roxy -Explain to me again how buying thousands of worthless January puts in VXX is a good trade?
Question from Elan - My broker doesn't list the $VIX futures alongside the options. It's damn confusing! Why don't they all just post them so I can see what I'm trading my options on? Instead I have to pull up a separate platform with the futures quotes so I can make sense of it all.

Crystal Ball: Wild and reckless prognostication

Last week:

Mark L. -12.45
Andrew -13.25

This week:

Mark L. -11.45
Mark S. -12.76
David - 12.05

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

Trump threatens $500B more tariffs, the market still shrugs.
VIX Cash - 12.14
VVIX - 91, nine points lower than last week.
VIX Options - ADV: 460k, VIX call/put: 3.1/1, Total 6.44m (4.79m Calls, 1.64m Puts)
VXX - 30.5, ADV: 248k, Total 2.49m (1.20m Calls, 1.30m Puts)

Earnings:

Monday - Google
Tuesday - AT&T, Verizon
Wednesday - UPS, Boeing, Coca Cola, GM, FB, PayPal, Qualcomm
Thursday - Amazon, McDonalds, Comcast, Starbucks, Nokia
Friday - Twitter, Merck

Volatility Voicemail: Listener questions and comments?

Question from Vizinator - Are there $VXX equivalents for Nasdaq, Dow and Russell?
Comment from Paul F. - Andrew should change his VIX zones to go negative to indicate when VIX is in drawdown mode. Also, shame on him for nickeling Longo on Crystal Ball. He should lose just for that.
Question from Dawiz - Gun to head, best VIX options strategy? No dawdling. Top of your head.

Crystal Ball: Your prognostication headquarters

Last week's guesses:

Mark L. - 12.23
Andrew - 12.22

This week's guesses:

Mark L. - 12.45
Andrew - 13.25

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

More trade war! Trump threatens $500B more tariffs, the market shrugs.
VIX Cash - 12.50
VVIX - 100
VIX Options - ADV: 460k, VIX call/put: 3.1/1, Total 5.42m (4.09m Calls, 1.34m Puts)
VXX - 31, ADV: 255k
Earnings: Netflix and Microsoft

Volatility Voicemail: Listeners have their say

QOTW: Trading Options during earnings season can be challenging. Some live for it while others avoid it. Do you hold Options positions through Earnings announcements? If so, what is your approach? Or do you prefer to trade just before/after the event? Or is it all too risky?

28% - Yes, Short Premium
20% - Yes, Long Premium
25% - No, Too Risky
27% - I trade around the event

QOTW, part deux: Yup it's earnings season once again. Options traders are gearing up for a busy season. Which names do you think will dominate your options trading this season?

NFLX
AMZN
TSLA
GOOGL

Listener questions and comments:

Question from BigDawg - Are there any of the proprietary vol indicators out there that you guys follow regularly?
Question from Lil Vig - Is VXX the greatest trading vehicle ever created? So much sweet erosion.

Crystal Ball: Your prognostication headquarters

Last week:

Mark L. -12.20
Andrew -12.25
Guest - 11.99

Next week:

Mark L. - 12.23
Andrew - 12.22

Volatility Review: Today's guest is David Lincoln, ex-CBOE Market Maker and Host of The Short Vol Show on YouTube.

A look back at the week from a volatility perspective:

What trade war? The market has rallied almost non-stop post Trump trade war
VIX Cash - 12.50, 1.25 point lower than last week.
VVIX - 101, almost unchanged from last week.
VIX Option - ADV: 496k, VIX call/put: 2.8/1, Total 7.89m (5.82m Calls, 2.07m Puts)
Risk reversals keep popping up.
VXX - 31.6, 3 points lower than last week.
VIX ETF love affair endures as volatility falls

Volatility Voicemail: Options question of the week, part one.

Traders generally fade volatility going into holidays (today notwithstanding). What's your favorite vehicle when you want to wager on the dark side of volatility? Short-term or Long-term - that's up to you.

27% - Short VIX Futures
17% - Long $VIX Puts/Spread
33% - Long $VXX Puts/Spread
23% - Short $VIX Calls/Spreads

Options question of the week, part two.

Trading options during earnings season can be challenging. Some live for it while others avoid it. Do you hold options positions through earnings announcements? If so, what is your approach? Or do you prefer to trade just before/after the event? Or is it all too risky?

Yes, Short Premium
Yes, Long Premium
No, Too Risky
I trade around the event

Listener questions and comments:

Question from Vixland -Why would these puts gain value? $VXX never crashes down. Please explain. Love the shows. KEEP IT UP!
Comment from Beachlot - With on the story from Bloomberg last week. They should be embarrassed writing a story on a 70k vol trade.
Question from BT Burg - What is the best way to trade these inverse VIX ETFs going forward? If I'm long XIV does it make sense to always have some VIX calls in my back pocket just in case? Doesn't that get expensive really quick? What about spy puts? Or should I just have puts on the inverse ETF in case the counterparties get cold feet?

Crystal Ball: Wild and reckless prognostication

Last week:

Mark L. -12.50
Mark S. -12.90
Guest -13.63

This week:

Mark L. - 12.20
Andrew - 12.25
Guest - 11.99

Volatility Review: What trade war? The market rallies despite the fact that the trade war has begun.

Market review:

VIX Cash - 13.75, 1.25-points lower than last week.
VVIX - 103, almost unchanged from last week.
VIX Options - ADV: 496K, VIX call/put: 2.7/1, Total 7.04m (5.16m Calls, 1.88m Puts)
A lot of VIX risk reversals hitting the tape today.
VXX - 34.6,0.5-points lower than last week.

Volatility Voicemail: Flash poll

Which product or complex will experience the greatest #Volatility going forward as a result of this trade war? Gold? Crude Oil? Equities? Soybeans?

Soybeans
Gold
Crude Oil
Equities

Options question of the week: Traders generally fade volatility going into holidays (today notwithstanding). What's your favorite vehicle when you want to wager on the dark side of volatility? Short-term or Long-term - that's up to you.

Short VIX Futures
Long VIX Puts/Spread
Long VXX Puts/Spread
Short VIX Calls/Spreads

Listener questions and comments

Question from LVist - Are you guys as surprised as me by VXX's stubbornness? It refuses to break the 30 handle.
Question from Casey - Is it me or is the vol space much more boring after VIX/SVXY? Those were my two favs. Seems like there's not much to take their place. What's the new short vol play?

Crystal Ball: Your prognostication headquarters

Last week:

Mark L. -12.55
Mark S. -12.95

This week:

Mark L. - 12.50
Mark S. - 12.90
Guest - 13.63

Volatility Review: Looking back at the week from a volatility perspective

VIX Cash - 15
VVIX - 104
VIX Options - ADV: 496k, VIX call/put: 2.7/1, Total 6.78m (4.96m Calls, 1.81m Puts)
VXX - was 40, now 35.
Hedge Fund That Made 6,000% on VIX Jump Bets on Next Blow-Up - What is UVXY?
UVXY: Big ETF Outflows

Options Questions of the Week: We ask, you answer

This Week's Question: Crude Oil has been on a tear this week. We know that many of you are trading options on this hot commodity. Quite simply - which options product are you using to slake your thirst for Crude Oil? WTI? USO? XLE?

WTI
USO
XLE
Other

Last Week's Question: Let's have some fun. These "entertainment" stocks are pricing in big moves. Gun to your head: Which July ATM straddle would you rather own in your portfolio? WWE? DIS? WYNN? SEAS?

WWE July ATM Strad: 7
WYNN July ATM Strad: 12
SEAS July ATM Strad: 2
DIS July ATM Strad: 5

Listener questions and comments:

Question from Btburg:What is the best way to trade these inverse VIX ETFs going forward? If I'm long XIV does it make sense to always have some VIX calls in my back pocket just in case? Doesn't that get expensive really quick? What about spy puts? Or should I just have puts on the inverse ETF in case the counterparties get cold feet?
Question from BFolk - I like the suggestion of a short 30 or 60-day call 1x2 in VXX to hedge my longer term puts. How did that strat work out this week? Something like sell near OTM buy 2 farther OTM same month. May help motivate me to put some on this week.
Question from Folfox - @Options Do you prefer iron condor vs. iron butterfly? (I know 1 strategy won't work every time, but what scenario is preferred).
Question from RevTimTom - What's your favorite way to trade skew?
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?

Crystal Ball: Your prognostication headquarters

Last week:

Mark L. -12.05
Mark S. -11.55

This week:

Mark L. - 12.55
Mark S. - 12.95

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

Fiddy cent returns
Seagull spread?
VIX cash: 14.64
Tweaks to VIX
VVIX: 107.50
Google interest: Top five states with the most interest in volatility (Mark S. got 2/5)
Google interest: Top five states with the most interest in VIX
VIX options
Big call and put strips
The VXX whiff of weirdness

Volatility Voicemail: Listeners have their say

Options Question of the Week: Let's have some fun. These "entertainment" stocks are pricing in big moves. Gun to your head: Which July ATM straddle would you rather own in your portfolio? WWE? DIS? WYNN? SEAS? #DegeneratePremiumBuyers #PalmsIn #FearNoTheta

WWE July ATM Strad: $7
WYNN July ATM Strad: $12
SEAS July ATM Strad: $2
DIS July ATM Strad: $5

Listener questions and comments:

Question from Rick S.: What exactly does it mean to roll positions the week of expiration?
Question fro Telly0: Are there any long VIX vehicles that don't erode to zero?
Comment from JTack: Looks like call front spreads (short 1 near OTM, long 2 farther OTM) in VXX are the best way to hedge long term VXX puts. That way you're covered against a blowup but you're not shelling out a ton for straight up calls or verticals.

Crystal Ball: Wild and reckless prognostication

Last guess:

Mark L. 11.85
Andrew: 11.80
Mark S. 11.55

This week:

Mark S. 11.55
Mark L. 12.05

This episode was recorded live at the Option Pit Pro Trader Summit. Andrew, Mark and Mark take the show on the road. Analysis, wit, and wisdom ensued.

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

VIX Cash: 12.21 and as high as 13.30.
VVIX - 93
VIX Options - ADV: 535k, VIX call/put: 2.6/1, Total 7.95m (5.78m Calls, 2.17m Puts)
The return of the 1x2?
Plenty of call love yesterday
Paper sells call June vertical yesterday

Volatility Voicemail: Flash poll!

Let's stick with our Volatility theme to round out the week. Quite simply - which product do you think has the highest 30-day implied Volatility? No cheating (or checking with your broker)! What does your gut tell you? VIX? Bitcoin? TSLA? RUSSELL2000? RUT? IWM?

34% - Tesla, TSLA
21% - VIX
35% - Bitcoin
10% - Russell 2000: Emini, RUT

Listener questions and comments

Question from Lisag - I'm confused. Why would someone by such an outlandish vertical in a product that essentially rots to zero?
Comment from Kaijan - I would sell that VXX July call spread all day long. In fact I did! Thx for giving me the idea on your last show. Keep up the vol fun!
Question from Deville - Great show. How do I get my volatility fund profiled on Volatility Views?
Question from FNews2 - Do you think eliminating the traditional earning call would be a bad move for vol traders? I kind of take the view that it would smooth things out and make it a little less likely to get run over. Crazy?

Crystal Ball: Your prognostication headquarters

Last week:

Mark L. -12.95
Mark S. - 12.50

This week:

Mark L. - 11.85
Andrew - 11.55

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

VIX Cash - 15.43, 3 points higher than last week.
VVIX - 95, 5 points higher than last week.
VIX Options - ADV: 557k (substantially lower than last show), VIX call/put: 2.8/1, Total 7.00m (5.14m Calls, 1.85m Puts)
What about the roll from June to July 37.5?
VXX - 35, 1 point lower than last week.
Paper buys buys size VXX July call spread.
VIX-mageddon revisited: it's the buyers who disappeared

Volatility Voicemail: Options question of the week

Holiday Weekends are notoriously tough for VIX traders. The markets love to crush Volatility going into these events. So we thought we'd poll the savvy VIX traders in our audience - where do you think VIX will OPEN on Tues 5/29?

39% - Here: 12-14
30% - Higher: 14-16
18% - Lower: 10.5-12
13% - Much Higher: >16

Flash Poll: Let's stick with our Volatility theme to round out the week. Quite simply - which product do you think has the highest 30-day implied Volatility? No cheating (or checking with your broker)! What does your gut tell you? VIX? Bitcoin? TSLA? RUSSELL2000? RUT? IWM?

Tesla, TSLA
VIX
Bitcoin
Russell 2000: Emini, RUT

Listener questions and comments:

Comment from Charles Montgomery Burns releasethehounds -I enjoyed listening to the broadcast today. Excellent
Question from Ned Brown - I wish it was made clear in these articles that the problem seems to be around settlement in the VIX. A good idea on orders to bring more liquidity into the settlement. I assumed the big volatility was the reason crypto options weren't being pushed. Has anyone asked the SEC about them?
Question from Bellat - What do you think of crypto Vol at these levels particularly bitcoin? Are you guys doing any trading even though there aren’t really any true options available yet?
Question from Pilz - Did we ever uncover the mystery behind 50 cent?

Crystal Ball: Your prognostication headquarters

Last week:

Mark L. -12.95
Mark S. -13.50

This week:

Mark L. -12.95
Mark S. - 12.50

Volatility Viewpoint: Today's guest is Tom Lee, Managing Director at Investment Strategy and Research at Parametric.

He discusses:

What is Parametric?
Who are their customers?
What do they trade?
Harvesting risk premium
VIX: Is it rigged?

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

VIX Cash - 12.53
VVIX - 90.5
VIX Options - ADV: 592k, VIX call/put: 2.8/1, Total 6.67m (4.94m Calls, 1.72m Puts)
VXX - 33.81

Volatility Voicemail: Options question of the week

Holiday Weekends are notoriously tough for VIX traders. The markets love to crush Volatility going into these events. So we thought we'd poll the savvy VIX traders in our audience - where do you think VIX will OPEN on Tues 5/29?

Here: 12-14
Higher: 14-16
Lower: 10.5-12
Much Higher: >16

Listener questions and comments:

Comment from James1 - I took a flyer on a couple hundred VXX Jan 10 puts for .03 after learning about them on your shows. Seems like I'm not alone as a few hundred thousand others appear to have joined the party. It's a fairly cheap roll of the dice on long term VIX erosion without massive risk or expense.
Question from Malik - VXX puts to spec on contango in VIX futures makes sense to me. Do you think it's worth it to have a few VXX OTM call spreads in the back pocket as well to help protect or spec on a few reversals that buck the long-term trend? Or is it just wasted money on anything bullish VXX?
Question from TGeek -Thx for the show. Can you include a breakdown of OTC variance swaps on an upcoming episode?

Crystal Ball: Wild and reckless prognostication

Last week:

Mark L. -13.25
Mark S. - 12.75

This week:

Mark L. - 12.95
Mark S. - 13.50

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

VIX Cash - 13.43, almost unchanged from last week.
VVIX - 93
VIX Options - ADV: 592k, VIX call/put: 2.7/1, Total 5.86m (4.26m Calls, 1.59m Puts)
VXX - 34.87

Volatility Voicemail: Listener questions and comments

Question from Trevor Salsman - Why no love for ZIV on volatility views?
Comment from Tom Frank - Not sure I agree with your consensus that covered calls are better for novice options traders. Puts typically have higher implied volatility and should generate higher returns than covered calls over time and have a better risk/reward. The novices would probably appreciate the higher returns.
Question from OliveTrader2 - What kind of volatility reaction should we expect if trade talks are successful or unsuccessful?
Question from Bruce Stern - I know that contango in VIX futures is the best scenario to foster VXX erosion. But is there a particular degree of slope or term structure that is optimal for maximum roll decay in the VXX product? Or is it just a question of the steeper the term structure slope the better?
Question from NMZ56 - Not sure my fav vol product has been invented yet. Outside of a truly tradable cash VIX, maybe we need some sort of cool earnings volatility product. Maybe something that allows you to trade the straddle without actually having to trade it? I think that would open the strategy up to more people.
Question from MTimes - What do you guys think of UPRO? Does the levered nature of this product make it a decent stand-in for some of the other vol products out there that have been defanged recently like SVXY or delisted like XIV?

Crystal Ball: Wild and reckless prognostication

Last week:

Mark L. - 13.55
Mark S. - 12.75

This week:

Mark L. - 13.25
Mark S. - 12.75

Volatility Viewpoint: Today's special guest is Shelly Brown, EVP, MIAX

He discusses:

SPIKES volatility index
What is it?
And more...

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

VIX Cash - 13.25
VVIX – 93
VXX - 36.50
VIX Options - ADV: 671k, VIX call/put: 2.7/1, Total 8.31m (6.02m Calls, 2.30m Puts)
Goldman: Retail volume 'leapt to the highest levels in at least a decade' in early 2018

Volatility Voicemail: Listeners have their say

Question from James Emmett - What's your take on the new Spikes volatility product?
Question from Union J. - Will we ever have a VIX index product that we can actually buy and sell?

Crystal Ball: Wild and reckless prognostication

Last week:

Mark L. -16.05
Mark S. -14.25
Guest - 15.25

This week:

Mark L. -13.55
Mark S. -12.75

Originally Posted February 8th, 2016

Volatility Review: CBOE to list SPX Wednesday-expiring weeklys options. CBOE to begin overnight dissemination of CBOE Volatility Index (VIX).

VIX Options: Total 5.81m (3.93m Calls, 1.88m Puts)
Earnings Volatility: LNKD after the bell: ATM straddle = $22, approx. 11.5%, after-hours move approx. $50.
Crude Oil: Wall St. fluctuates as equities track oil prices. Is oil driving the stock market? And should traders care?

Volatility Voicemail: Listener questions and comments

Question from GBL - Stock splits are seen to be greatly beneficial to options volume. But do they also decrease volatility, which should hurt options trading?

Around the Block: Prognosticating. Wild and reckless prognosticating.

Volatility Viewpoint: Today we are joined by Jonathan Molchan, Portfolio Manager, Horizons ETF Management.

He discusses:

What does Horizons ETF Management do?
Horizons ETF products
Why are there so few options-oriented ETFs?

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

VIX Cash - 16.50
VVIX - 95
VIX Options - ADV: 943k, VIX call/put: 2.6/1, Total 7.06m (5.11m Calls, 1.96m Puts)
VXX - 42.32
Earnings Volatility - AMZN, MSFT, INTC & GOOGL

Volatility Voicemail: Otpions question of the week.

We dig up many strange options positions at the Options Insider. Some seem credible while others are just head scratching. Which of the following open options positions do you think has the best chance of actually becoming a winner?

32% - 49K TSLA Jan 2019 50 P
32% - 197K VXX Jan 2019 10 P
25% - 65K GLD Jan 2019 200 C
11% - 146K SPY Dec 2019 150P

Listener questions and comments:

Question from Illir -So VXX Jan 10 puts are worth about .03. But VXX2 (or VXXB -not sure which) Jan 10 puts with exact same strike and days to expiration are worth 2.60 (a 1 lot just traded this morning)? Am I missing something?
Comment from LLLC1 - I think the world just woke up to a new risk for vol products - "issuer panic risk." We all knew it was in the prospectus but now we've seen it materialize. I wonder how this will affect risk premiums in these products going forward.
Question from Bortega - Why are there no options on VXAPL? Will there ever be options listed on this product?

Crystal Ball: Wild prognosticating found here.

Last week:

Mark L. -16.35
Mark S. - 14.25
Mike Thompson - 15.85

This week:

Mark L. - 16.05
Mark S. - 14.25
Jonathan Molchan: 15.25

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

VIX Cash is still hanging around in the teens.
VVIX - 97, pretty much unchanged from last week.
VIX Options - ADV: 1.05M, VIX call/put: 2.6/1, Total 6.29m (4.55m Calls, 1.74m Puts)
How is the VIX July 10-75 strangle doing?
VXX - 42.50
OIV - 26.5, 2.5 points lower than last week.
GVZ: 12.25, 1.25 points lower than last week.

Volatility Voicemail: Last week's volatility flash poll

Which product/segment do you think will experience the most Volatility over the coming trading week (through the close on Friday 2/20) SPY SPX VIX WTI Crude Gold Bitcoin BTC GLD USO

28% - S&P500: SPY, SPX. VIX
8% - Gold: GLD, Comex
28% - Crude Oil: WTI, USO
36% - Bitcoin: BTC

Options question of the week

VIX is back in the mid-teens. Are you buying this Volatility reprieve or is this merely calm before the storm? Quite simply - Where do you think VIX will end the week?

Here: 16-18
Higher: 18-20
Even Higher: 20-25
Lower: 14-16

Yet Another Options Flash Poll:

The proposed third exchange from @MIAXexchange will raise the total number of U.S. Options Exchanges to 16. Is this a good thing for the options market? Is it the straw that finally breaks the camel's back? Or are you too busy getting great fills to care?

More Exchanges the Better
Please Make It Stop
Don't Care: I get filled
Comment from Patrick Snoke -The more the merrier....my fills are.

Listener questions and comments:

Question from Scott Somer -Think this product will get enough liquidity? https://twitter.com/MIAXexchange/status/986334029338300416
Question from Niddles - VIX settlement WTF?!?
Question from Allen - What are the VIX mullet guys up to these days?

Crystal Ball: Wild and reckless prognostication

Last week:

Mark L. -17.17
Mark S. - 15.00

This week:

Mark L. -16.35
Mark S. - 15
Mike - 15.85

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

VIX Cash is back in the teens. Could it possibly reach 15 again?
The market is tanking and rallying on both trade war and real war concerns.
VVIX - 97
VIX Options - ADV: 1.05M, VIX call/put: 2.2/1, Total 8.50m (5.85m Calls, 2.66m Puts)
Paper sells May 20/22 call spread and buy May 17 puts 84,000 times.
VXX - 47, almost unchanged from last week.
Bitcoin futures up another 400 today.

Volatility Voicemail: Volatility Flash Poll

Which product/segment do you think will experience the most Volatility over the coming trading week (through the close on Friday 2/20) SPY SPX VIX WTI Crude Gold Bitcoin BTC GLD USO
S&P500: SPY, SPX. VIX
Gold: GLD, Comex
Crude Oil: WTI, USOF
Bitcoin: BTC

Listener questions and comments:

Question from Loades - What will it take to get VIX back into the 15 handle?
Comment from Jack -I'm with the questioner from last week. It's a huge pain to figure out which VIX future the weekly options are trading on. CBOE needs to hold more brokers feet to the fire to surface that stuff much more readily.
Question from Alfred - Any updates on the VIX whistle blower?
Comment from Chingis - Dudes, how about a weekly rundown of the hot VIX ETFs and ETNs?
Question from Elandra -If you could have your ideal volatility product what would it be?
Question from DKMan - Why no options on TVIX?

Crystal Ball: Wild prognostication

Last week:

Mark L. - 17.15
Mark S. - 17.89
Russell - 19.99

This week:

Mark L. - 17.17
Mark S. - 15.00

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

Happy 25th Birthday of VIX!
This week CBOE is launching a month-long celebration of the 25th anniversary of the introduction of the CBOE Volatility Index (VIX Index), which CBOE began publishing in April 1993.
VIX cash is back in the teens.
The market is tanking and rallying on trade war concerns.
VVIX - 92

Russell's Weekly Rundown

VIX Options: ADV - 1.05M, VIX call/put - 2.3/1, Total 8.06m (5.57m Calls, 2.49m Puts)

Volatility Voicemail: Listener questions and comments

Question from HFL9 -Would you rather see options on bitcoin futures or more futures listed on more crypto products first?
Question from Lil Nicker - How do I tell which future a VIX options trades off of?
Question from Barry -How do I tell which future my VIX options are priced from? I've been looking at some calls expiring on April 18th. Thanks for the shows.
Question from Mark Clyde Brant -Will rising vol persist all year? VIX above 20, VXX above 40, half the time?

Crystal Ball: Wild and reckless prognostication

Last week:

Mark L. - 16.85
Andrew - 17.76
Euan - 19.50

This week:

Mark L. - 17.15
Mark S. - 17.89
Russell - 19.99

Volatility Review: A look back at 2017 from a volatility perspective.

VIX cash was back in double digits, briefly.

Kevin's Weekly Rundown:

VIX Options: ADV - 672k, VIX call/put - 4, Total 9.78m (7.83m Calls, 1.94m Puts)
Looking back on the 2017: The year without volatility.
Which trades stood out to you in 2017?
CBOE files to list 6 bitcoin ETFs after being first major exchange to trade cryptocurrency futures.

Crystal Ball: Your prognostication headquarters

Last week:

Mark L. - 9.65
Andrew - 8.99
Russell - 9.25

Where will VIX close at the end of 2018?

Mark L. - 17.25
Mark S. - 11.01
Kevin - 14.04

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

The market in tanking on trade war concerns.
Steel tariffs - officials are not loving it.
VIX cash is back in the 20's this week.
VVIX - 122; VIX Options: ADV - 1M, VIX call/put - 2.4/1, Total 7.26m (5.11m Calls, 2.15m Puts)
How's the VIX July 10-75 strangle?

Volatility Voicemail: Listeners weigh in

Question from BTBurg - What is the best way to trade these inverse VIX ETFs going forward? If I'm long XIV does it make sense to always have some VIX calls in my back pocket just in case? Doesn't that get expensive really quick? What about spy puts? Or should I just have puts on the inverse ETF in case the counterparties get cold feet?
Question from JelloFan - VXX 1-yr 50% OTM puts plus VIX 3 month 15% OTM call verticals - 5 or 10 handles wide. Is that the secret sauce?
Question from LNC -$SVXY calls suck now. What about selling the puts? Is there any juice in those or have they been drained as well by the bid redo last week?
Question from Oswald -Are you part of the SVXY class action?

Crystal Ball: Your prognostication headquarters

Last week

Mark L. - 15.15
Andrew - 14.75

This week

Mark L. - 16.85
Mark S. - 17.76
Euan - 19.50

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

VIX cash back in the 15 handle
VIX Options: ADV - 1M, VIX call/put: - 1.9/1, Total 13.9m (9.16m Calls, 4.76m Puts)
Weird iron fly with crazy call kicker
VXX - 38.89

Volatility Voicemail: Options Flash Poll

Which would you rather see first? Would you rather see Options finally listed on Bitcoin futures? Or would you prefer to have more Cryptocurrency futures (Litecoin, Ethereum, etc.) launched instead?

Gimme Bitcoin Options
More Crypto Futures
Save Me from More Crypto

Last week's Volatility Flash Poll: VIX is off the board and SVXY is a pale shadow of its former self. So how are you getting your "short Vol" fix these days? Reply/DM with alternative suggestions.

20% - Short VIX Futures
22% - Long VIX Puts/Spreads
32% - Short VIX Call/Spreads
26% - Short SPX/SPY Volatility

Listener questions and comments:

Question from Big Blanc -I'm liking the VXX erosion play. Question though - Why does everyone talk puts on this trade? Why not selling calls or call spreads? Or maybe the combo - buying puts and selling calls or call spreads? Any backtests on that?
Question from Jack K. -How is Mark's SVXY call vertical holding up?
Comment from Brian Collamer -Hey Mark, You been talking off and on about seeing how the straddles performed vs actual moves around the earnings. Check the Analyze>Earnings tab in Thinkorswim sometime and let us know what you think!
Comment from Brian Collamer:Also thought you might get a kick out of this.
Question from Liam - Any cool takeaways from Mark's trip to RMC or FIA?
Question from Leo -I have a bunch of VXX Jan 2019 puts. Should I be concerned about the issuer pulling an SVXY and suddenly rendering those puts irrelevant?

Crystal Ball: Wild and reckless prognostication

Last week:

Mark L. - 14.75
Mark S. - 13.15
Russell - 14

This week:

Mark L. - 15.15
Andrew - 14.75

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

Cboe RMC:

What are our favorite presentations?
Interesting discussions/topics?
Tariffs, Trump & VIX: It has been another volatile week.
VIX Cash - 16.54
VIX Futures - "Super meltyF and delicious

Russell's Weekly Rundown:

VIX Options: ADV - 1M
VIX call/put: 2/1
Total 12.6m (8.45m Calls, 4.16m Puts)

Volatility Voicemail: Volatility Flash Poll

XIV is off the board and SVXY is a pale shadow of its former self. So how are you getting your "short vol" fix these days? Reply/DM with alternative suggestions.

Short VIX Futures
Long VIX Puts/Spreads
Short VIX Calls/Spreads
Short SPX/SPY Volatility

Listener questions and comments

Question from Bixby -Do you think there will be an XIV 2 anytime soon?

Crystal Ball: Wild and reckless prognostication

Last week:

Mark L. - 17.75
Mark S. - 28

Next week:

Mark L. - 14.75
Mark S. - 13.15
Russell - 14.00

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

A weird day in the markets, started with a massive selloff then ended unchanged.
VIX cash - 22.5
VIX futures - super backward again
VIX options: ADV - 1.05M, VIX call/put: 2.1 - Total 12.0m (8.15m Calls, 3.87m Puts)
Goldman says options-market activity suggests pain ahead in these sectors
Nearly half of 2017's Cryptocurrency 'ICO' Projects Have Already Died

Volatility Voicemail: Options question of the week

There's much debate about SVXY these days. Will it survive 2018? Is it poised for serious upside? We'll table those questions for now and instead ask all of you out there slinging SVXY. What is your weapon of choice?

63% - Naked Long SVXY
20% - Long SVXY Calls/Spreads
10% - Long SVXY Puts/Spreads
8% - Long SVXY w/ Put Hedge

Listener questions and comments:

Comment from Boris Ilyevsky - Maybe their FCM partners didn't give them a choice. SVXY UVXY
Question from J3dingle - Hi Mark, Given that both RexxShares and ProShares have re-jiggered their Volatility ETPs, what are the odds that VXX does too? Thanks, Joseph
Question from Tills - Any chance the recent changeup with SVXY is just to appease regulators. Maybe it will switch back later in the year?
Comment from Volatility Analytics - SPX 37% of days this year have had a 1% change in SPX. Last year we had 8 total days.
Comment from Ragin1234 - (RE: SVXY) XIV SVXY uneducated customers are to blame for not doing their due diligence.
Comment from LLLC1 - I think the world just woke up to a new risk for vol products - "issuer panic risk". We all knew it was in the prospectus but now we've seen it materialize. I wonder how this will affect risk premiums in these products going forward.
Comment from John Schryber - Those stocks got sold to cover the inverse leveraged trade. It's all connected. Passive funds are...passive.

Crystal Ball: Wild and reckless prognostication

Last week:

Mark L. - 16.75
Bill - 14
Mark S - 15

This week:

Mark L. - 17.75
Mark S. - 28

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

VIX Cash - 18.75
VIX Futures - The March future is very stubborn.
VIX Options: ADV - 1.05M, VIX call/put: 2.3, Total 11.3m (7.76m Calls, 3.52m Puts)
Goldman says options-market activity suggests pain ahead in these sectors
Earnings: INTU, GDDY

Volatility Voicemail: Options question of the week

People are spooked about this market. Hedges are flying left and right. So the question remains: How are you hedging your portfolio right now?

Metals: Gold, Silver, etc.
VIX Calls / Volatility
Index Puts (SPY, etc.)
Bitcoin / Crypto

Listener questions and comments:

Comment from The Blacklist Blockchain Trader‏ - The uncorrelated one known as bitcoin
Comment from Mark Clyde Brant - Palladium ITM calls!
Comment from StockMarket Blue - Hedging strategies are actually unwinding in the bond market, causing turbulence in equities markets. Those "trading" in the stock market are flying blind without understanding the carry trade/currency hedging or oversupply of tender re system liquidity. Or the short-VIX unwind.
Question from J3dingle - Hi Mark, VXX is delisting in January 2019 (with the new Barclay's ETN VXXB to take its place). What will happen to the Jan 2020 VXX options? Thanks, Joseph
Question from Harryhood - @Options Are the $VXX puts premium dropping with the underlying because the VIX futures term structure is backward? Thanks Mark. Just heard "Mr Umbrage" discuss it on the last OB show. I'm the guy who sent you the Vermont umbrage license pic btw.

Crystal Ball: Wild and reckless prognostication

Last week:

Mark L. - 17.55
Mark S. - 16.00
Kevin - 19.00

This week:

Mark L. - 16.75
Mark S. - 15.00
Bill - 14.00

Volatility Review: VIX Cash is back in the teens. Are VIX Futures returning to contango? Volatility's awakening spurs a record long position in VIX Futures.

Kevin's Weekly Rundown:

VIX Options: ADV - 983k, VIX call/put: 2.3, Total 10.6m (7.30m Calls, 3.26m Puts)
The VIX Whale finally gets his payday
The great inverse volatility ETP debate continues.

Volatility Voicemail: Options question of the week

It's been a rocky week for the markets. People are understandably scared and confused. That raises the question: Which product are you most concerned about over the next 30 days? Aka - which product would you not touch with a 10-foot pole?

VIX
SVXY
SPY
Bitcoin: XBT, BTC, etc.

Listener questions and comments:

Question from Volbug: Mark and friends, now that SVXY has been reset or beaten, would another big VIX surge day have the same impact on it? Thanks.
Comment from Pete Yarbro‏ - I feel like I have a better understanding of $VIX, $VX and the volatility ETFs than some very high profile stock market commentators, and all I do is listen to a podcast. @Options @OptionPit @OptionVol
Comment from Dog Shogun - Vol Views rules
Comment from Olivetrader2 - It's amazing what you can learn from podcasts. I am not sure I want to tell everybody though

Crystal Ball: Back to wild and reckless prognostication

Next week:

Mark L. - 17.55
Mark S. - 16
Kevin - 19

Volatility Review: The great inverse volatility ETP debate continues. Are they "Frankenproducts" that shouldn't exist? Or are they performing as advertised, but the investing public simply doesn't understand them? Maybe there's a third camp? VIX Cash: Spiked to 46.34 on Tues - Quite possibly the craziest week in VIX history.

Kevin's Weekly Rundown

VIX Options: ADV - 983k, VIX call/put: 2.8
Commodity Volatility
Bitcoin has been moving in lockstep with the market.

Volatility Voicemail: Volatility flash poll
XIV is headed to the graveyard. But, as of this writing, $SVXY is still trading. Do you still have confidence in this product? Quite simply - do you think $SVXY will still be trading at the end of the year (12/31/18)?

Yes
No
I'm hiding under the bed

Options question of the week:

VIX is moving like crazy today day. It's already blown past 23 and is threatening 35. So let's dial up our $VIX threshold for extra #ZombieApocalypse fun. You buying or selling these levels? Quite Simply: Where will $VIX close on Friday?

Crazy Town: 30-35
ZombieApocalypse: >35
Crazy: 25-30
Mildly Crazy: <25

Listener questions and comments:

Question from Chris T - The most I can lose buying SVXY is the price I pay, correct? So can I buy it around 10 and treat it like a lotto ticket call?
Comment from Scott Somer - Another day another day with a very large sell off heading into the start of the Option Block and an up move in the S&P Futures during the "Trading Block" #OptionInsiderRadio #OptionBlock #GreasyMeatball #RockLobster
Question from Lamina - $VIX cash is trading above the futures right now. How is that possible? Isn't the cash value derived from the futures?

Today, we feature special guest co-host, Don Dale, Managing Member at Equity Risk Control Group.

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

VIX Cash:

Hit nearly 15.50 this week
Yet another crazy week

Russell's Weekly Rundown

VIX Options: ADV - 777k, VIX call/put - 3.9, Total 13.7m (10.9m Calls, 2.78m Puts)
Earnings Volatility: This season's theme is underperforming. FB, MSFT, AAPL, GOOGL & AMZN

Volatility Voicemail: Listener questions and comments

Question from ILM78 - It seems like the volatility space is dominated by Canadian pension funds. Why is that the case? How's the volatility landscape for U.S. pension and hedge funds out there? Do U.S. pension funds trade a lot of VIX options or OTC?

Crystal Ball: Where will the VIX close on Friday?

Last week:

Mark L. - 9.55
Andrew - 13.25
Kevin - 10.50
Matt - 10.15
Mike - 9.99

Next week:

Mark L. - 13.50
Mark S. - 14.00
Russell - 15.67
Don - 17.50

Volatility Views 292: Earnings Volatility, plus VIX Whale Returns

Today, we feature special guest co-host, Don Dale, Managing Member at Equity Risk Control Group.

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

VIX Cash:

Hit nearly 15.50 this week
Yet another crazy week

Russell's Weekly Rundown

VIX Options: ADV - 777k, VIX call/put - 3.9, Total 13.7m (10.9m Calls, 2.78m Puts)
Earnings Volatility: This season's theme is underperforming. FB, MSFT, AAPL, GOOGL & AMZN

Volatility Voicemail: Listener questions and comments

Question from ILM78 - It seems like the volatility space is dominated by Canadian pension funds. Why is that the case? How's the volatility landscape for U.S. pension and hedge funds out there? Do U.S. pension funds trade a lot of VIX options or OTC?

Crystal Ball: Where will the VIX close on Friday?

Last week:

Mark L. - 9.55
Andrew - 13.25
Kevin - 10.50
Matt - 10.15
Mike - 9.99

Next week:

Mark L. - 13.50
Mark S. - 14.00
Russell - 15.67
Don - 17.50

On today's show, a rowdy cohort of crazies, including:

Mark Sebastian, Option Pit
Matt Thompson, Typhon Capital
Mike Thompson, Typhon Capital
Kevin Davitt, CBOE

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

VIX Cash is firmly back in the double digits.

Kevin's Weekly Rundown

VIX Options: ADV - 744k, VIX call/put - 4.1, Total 12.0m (9.65m Calls, 2.34m Puts)
Earnings Volatility: Netflix, Intel and Starbucks.

Volatility Voicemail: Options question of the week

Since we're down at #InsideETFs this week we thought we'd make our #Options #QOTW about #ETFOPTIONS. Quite simply - what is your favorite ETF/ETP #option to trade?

$SPY
$GLD
$VXX
Other (reply w/answer)

Listener Questions and Comments:

Question from Cat65 - Are there other vol futures out there aside from VIX?
Question from Charlie C - Quick Q for the show - What's the weirdest thing you've seen in the options market?

Crystal Ball: Wild and reckless prognostication

Last week:

Russell: 11.99
Matt: 11.5
Mark S.: 10
Mark L. 10.55

This week:

Mike: 9.99
Matt : 10.15
Mark S.: 13.25
Mark L.: 9.55
Kevin: 10.5

Volatility Review: Government shutdown moves the market going into the weekend. VIX cash is firmly back in the double digits.

Russell's Weekly Rundown:

ADV - 746k, VIX call/put - 4.6, Total 10.1m (8.29m Calls, 1.82m Puts
Looking back on the VIX whale from last Wednesday.
Earnings volatility this week.
January has been a rough month for Bitcoin.

Volatility Voicemail: Options question of the week.

Bitcoin futures are currently trading around $11,500. If options existed, how would you trade them? Assuming one-month to expiration would you...?

Buy 5% OTM Call
Buy 5% OTM Put
Sell 5% OTM Covered Call
Just Short the Future

Listener questions and comments:

Comment by TradingProverbs - "More money has been lost trying to anticipate and protect from corrections than actually in them." - Peter Lynch

Crystal Ball: Government shutdown related prognostication

Last week:

Mark L. - 9.55
Andrew - 9.95
Kevin - 9.75

This week:

Mark L. - 10.55
Mark S. - 10.00
Russell - 11.99
Matt - 11.50

Volatility Review: It's been a good year for VIX at CBOE - No Vol = No problem. Return of the VIX Whale - 2.87M on Wednesday. We finally have the COT Reports for Bitcoin.

Kevin's Weekly Rundown:

VIX Options: ADV - 668k

VIX call/put - 4, Total 12.9m (10.3m Calls, 2.52m Puts)
Volatility Voicemail: Options question of the week.

Another ";easy"; one to help kick off the New Year. Quite simply - which name are you looking forward to trading Options on during the upcoming earnings season? Your fav not here? Choose ";Other"; and send it in. Best will be shared on the Option Block.

Apple (AAPL)
Tesla (TSLA)
Amazon (AMZN)
Other

Listener questions and comments:

Question from RDuffGordon - My wife reads all of the ";intel"; letters, and told me tonight that CEO's are resigning in droves. The best way to see if this is valid or probable would be a sudden burst of buying of insider puts. Is there such a reporting requirement for, Insiders or recent EX - higher ups which i would expect the sec to require - but all we hear is insider stock ratios etc., but the long put, after 23 years of on floor trading is the ";no brainer"; thing to buy - if one is fairly certain the stock chosen was going to go down, because the 98% winners who risk the entire economy when they sell short puts with abandon need to buy them back one day at a volatility no one could believe ahead of time, as in right now. The insider who quits AAPL may buy puts on Amazon so as to go under the radar. Major sells perhaps on other stocks where the insider who quit quickly knows of another big player(s) who HAS to quit. Finally, what about insiders in or recently of a company buys calls in the VIX? Does that get reported? How long after resigning from a company have to report? I suppose as long as he is above 5 percent of the company he resigned from? THX much- I should know all of this- and that it is perhaps conspiratorial.

Crystal Ball: Your prognostication headquarters

Last week:

Mark L. - 9.25
Mark S. - 9.57
Russell - 9.79

This week:

Mark L. - 9.55
Andrew - 9.95
Kevin - 9.75

Volatility Review: Looking back on the top five Volatility Views episodes of 2017. VIX Cash is back in the single digits again.

Russell's Weekly Rundown

VIX Options: ADV - 668k, VIX call/put - 3.9, Total 10.8m (8.52m Calls, 2.26m Puts)
Commodities: Volatility is low but ambiguity is sky high.
CBOE files to list 6 bitcoin ETFs after being first major exchange to trade cryptocurrency futures.
Happy 9th Birthday to Bitcoin

Volatility Voicemail: Listeners have their say

2017 was the "Year that Volatility Died". So our 1st #QOTW for 2018 is a puzzler. Quite simply - where do you think $VIX will close at the end of the year?

14% - Between 7.5-9.99
35% - Between 10- 12.49
14% - Between 12.50 -14.99
37% - Above 15

Crystal Ball: Wild and reckless prognostication.

Last year's 2017 VIX predictions:

Mark L. - Avg 15.50, low 10, high 34.5
Russell - Avg 17.50, low 12.50, high 37
Mark S. - Avg 15, low 10.50, high 24

Next year VIX close at end of 2018:

Mark L. - 17.25
Mark S. - 11.01
Kevin - 14.04

Next week:

Mark L. - 9.25
Mark S. - 9.57
Russell - 9.79

Volatility Review: A look back at 2017 from a volatility perspective.

VIX cash was back in double digits, briefly.

Kevin's Weekly Rundown:

VIX Options: ADV - 672k, VIX call/put - 4, Total 9.78m (7.83m Calls, 1.94m Puts)
Looking back on the 2017: The year without volatility.
Which trades stood out to you in 2017?
CBOE files to list 6 bitcoin ETFs after being first major exchange to trade cryptocurrency futures.

Crystal Ball: Your prognostication headquarters

Last week:

Mark L. - 9.65
Andrew - 8.99
Russell - 9.25

Where will VIX close at the end of 2018?

Mark L. - 17.25
Mark S. - 11.01
Kevin - 14.04

Volatility Review: Looking back on 2017, the year without volatility. VIX has been under 10 for about 45 days this year, and under 12 for a little over 200 days.

The numbers:

VIX Cash - 9.56
VVIX - 92
CBOE Skew Index - 132.5

Russell's Weekly Rundown:

VIX Options: ADV - 721k
VIX call/put: - 4, Total 9.38m (7.51m Calls, 1.88m Puts)
Commodities: Volatility is low but ambiguity is sky high.

Volatility Voicemail: Options question of the week.

Now it's a party! Bitcoin futures are live on both CME Group & CBOE. But everyone's asking us the $1M question - "When will we get Bitcoin Options?" So we thought we'd ask you: When will we be able to trade options on these futures?

Q1 2018
Q2 2018
Q3 2018
Q4 2018

Listener questions and comments:

Comment from FContangotrader - You should call #optionblockchain... forget Bitcoin, if you short $vxx since 2011 now you own an island at the Bahamas, if you own gamma and hedge with vol products, now you own 2 islands.
Question from Javier - Is there a Bitcoin VIX from the CBOE?
Question from JediGuy - What were your favorite volatility events and trades from 2017?
Question from Taj Penaso - Hi, will there be options for bitcoin once the futures are traded?? Or just the futures until there are tradeable ETFs available? Thanks

Crystal Ball: Wild and reckless prognostication

Last week:

Mark S. - 10
Russell - 9.74
Bill - 8.99

This week:

Mark L. - 9.65
Andrew - 8.99
Russell - 9.25

Volatility Review: Tyler and Cameron Winklevoss discuss Bitcoin and Bitcoin Futures at FIA Asia. CBOE Benchmark Index discussion. CBOE Bitcoin futures surge 8% Friday, head for winning first week

The numbers:

VIX Cash - 9.79
VVIX - 92.77
CBOE Skew Index – 131

Russell's Weekly Rundown

VIX Options: ADV - 737k, VIX call/put - 3.6, Total 13.6m (10.7m Calls, 2.99m Puts)

Volatility Voicemail: Listener questions and comments

Question from Alvanot - Can you trade the VIX index itself? Not the futures.
Question from The Financial Grynch‏ - Do you REALLY reckon long options is profitable?

Crystal Ball: Wild and reckless prognostication

Last week:

Mark L. - 9.75
Mark S. - 9.15
Ghost of Russell - 35
Bill - 10

This week:

Mark S. - 10
Russell - 9.74
Bill - 8.99

Volatility Review: This week we are featuring guest co-host Bill Valentine of Valentine Ventures.

The numbers:

VIX Cash, VVIX - 96, CBOE Skew Index – 131
VIX Options: ADV - 758k, VIX call/put: 3.6, Total 12.7m (9.95m Calls, 2.79m Puts)
Bitcoin launching on 12/10.
Question from Tortega - Not a vol question, but what's the deal with the Bitcoin futures and the Gemini index they are based on?

Volatility Voicemail: Options question of the week

The war for #Bitcoin #Derivatives is heating up again. CME Group is launching futures on 12/18. CBOE just announced a 12/10 launch date. Not enough? Nasdaq also announced futures w/ for a planned Q2 2018 launch. With so many choices-How will you trade #Bitcoin in 2018?

52% - CBOE Futures 12/10
27% - CME Futures 12/18
3% - Nasdaq Futures Q2 2018
18% - "Old School" Bitcoin

Listener questions and comments:

Comment from Mark Clyde Brant - Who is listing options first? Probably CBOE! But Chicago is taking control of BTC exactly as Al Capone took control of booze distribution. He taught the city well!
Question from NomNom - I was excited about #bitcoin but this is giving me pause.

Crystal Ball: Wild and reckless prognostication.

Last week:

Mark L. - 10.25
Mark S. - 11.25
Russell - 42.5

This week:

Mark L.- 9.75
Mark S. - 9.15
Bill - 10.0
Ghost of Russell - 35

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

The numbers:

VIX Cash - back above 12, briefly
VVIX - 90
CBOE Skew Index - 131
VIX Options: ADV - 725K, VIX call/put: 3.7, Total 11.2m (8.68m Calls, 2.56m Puts)
VXX - 32
XIV - 109.58

Volatility Voicemail: Options question of the week

SPY always dominates the Options volume charts. But what do you think people are actually trading in SPY? Take a guess at the Top OI position in SPY right now. No cheating (or checking with your broker) - use your grey matter & your "gut" to pick the right one.

Jan 262 Call
Dec 2019 150 Put
Dec 280 Call
Jan 240 Put

Listener questions and comments

Question from FContangotrader - I think we have a winner today in TA of $VIX world.
Question from CConden - Looks like the winning trade for past few years has been rolling short VIX front month future with a protective call kicker should the worst come to pass. I'm stuck on the call kicker strike. What is the ideal strike/month combo for max gain with protection against apocalypse? Don't want to pay too much for call but also don't want to get run over by the VIX train.
Question from Mantauk - What is the actual implied volatility of bitcoin?
Question from VonBaron - Seems like Whaley doesn't think people get his creation like they should.

Whaley: I don't think people understand it as well as they should. The VIX doesn't trade. It's just a number produced from these 250 S&P 500 option prices. But what does trade are the VIX futures and the VIX options, which are related to VIX but in a strange way. Where VIX is the volatility over the next 30 days, VIX futures is the expectation of the volatility 30 days from now. Those two series don't behave like one another, in fact quite differently. VXX is incredibly actively traded. Would I have thought it would be this actively traded? No, but it is. I think the VIX futures index is particularly staggering. It probably trades more shares in a day than Microsoft. If you look at the turnover ratio, you'll find that it's a huge number. If people were just buying and holding, that number would be much lower.

Crystal Ball: Your prognostication headquarters

Last week:

Mark L. - 9.75
Mark S. - 9.99
Russell - 10.59

This week:

Mark L. - 10.25
Mark S. - 11.25

Black Friday should not keep you from enjoying your favorite volatility podcast.

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

The numbers:

VIX Cash - Back above 12, briefly
Bitcoin vs. VIX - What Has Been More Volatile in 2017?
VVIX - 100.15
CBOE Skew Index - 136

Russell's Weekly Rundown

VIX Options: ADV - 739k, VIX Call/Put - 3.7, Total 9.69m (7.64m Calls, 2.05m Puts)
FINRA Orders Wells Fargo to Pay $3.4M over Volatility-Linked ETPs

Volatility Voicemail: Stream of consciousness questions and comments

Question from Andrew Giovinazzi‏ - Why is the rock lobster so handsome?
Comment from David - $VXX is clearly the worst ETF. It has destroyed pretty much all of the value invested in it since inception. Or does that make it the best if you're short?
Comment from OphirGottlieb - $VIX hello, friend. I've missed you. You appear to want to stay this time. @Options @RussellRhoads
Comment from SaqibReports - Shhh. You will scare it away!
Question from Lonesome - Could you tell us the process of how options market makers mitigate risk/remain delta neutral?

Crystal Ball: Wild and reckless prognostication.

Last week:

Mark L. - 9.65
Mark S. - 9.99
Russell - 9.15

This week:

Mark L. - 9.75
Mark S. - 9.99
Russell - 10.59

Volatility Views 280: Tapping the Secret Sources of VIX Info

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

VIX cash: VIX briefly flirted with 12
VVIX: 98.5 - 7 points higher than last week
CBOE SKEW Index: 129 - 8 points higher than last week
VXN: 15.04 - .5 points higher than last week

Russell's Weekly Rundown:

VIX Options:

ADV - 758k
Thurs - 1m
Weds - 632k
Tues - 899k
Mon - 442k
VIX call/put: 3.8 - Russell is nervous

Hot VIX strikes

710842 .VIX Dec 20th 25.0 C, chg +67163
515136 .VIX Dec 20th 15.0 C, chg -1377
400697 .VIX Nov 15th 20.0 C, chg +5029
372447 .VIX Dec 20th 12.0 P, chg +829
334283 .VIX Nov 15th 21.0 C, chg -5413
308546 .VIX Dec 20th 22.0 C, chg +4167
263899 .VIX Nov 15th 17.0 C, chg +11157
240963 .VIX Dec 20th 20.0 C, chg +7087
226612 .VIX Nov 15th 15.0 C, chg -3270
222571 .VIX Dec 20th 17.0 C, chg +4591
Total 12.7m (10.1m Calls, 2.61m Puts)

VXX: 34 - almost unchd from last week

Top VXX positions

114719 VXX Jan19 10.0 P, chg +22
75429 VXX Jan 10.0 P (Nonstd VXX2), no chg
75157 VXX Jan19 5.0 P (Nonstd VXX2), no chg
60900 VXX Jan 5.0 P (Nonstd VXX2), no chg
55450 VXX Jan 5.0 P (Nonstd VXX1), no chg
55150 VXX Mar 24.0 P, chg +408
49560 VXX Jan 7.0 P (Nonstd VXX2), no chg
46458 VXX Nov 38.0 C, chg -1763
43537 VXX Jan 20.0 C (Nonstd VXX2), no chg
43457 VXX Jan 8.0 P (Nonstd VXX2), chg +6
Total 3.88m (1.78m Calls, 2.10m Puts)

Volatility Voicemail: Listener questions and comments

Options question of the week: Trading #Options during #Earnings is a coin flip. But you know you love to do it. What's your #Earnings #Options MO?

Buy Calls/Call Spreads
Buy Puts/Put Spreads
Sell Puts/Put Spreads
Fly/Iron Fly/ Iron Cond.

Listener questions and comments

Comment from TMal: Big options sell firm gain AUM as they do well. They are another "natural seller" of options (weekly and monthly).
Question from Chris Thomas: Hey guys. Trading a long calendar on VIX is a bad idea in that what you pay isn't the max loss. It's possible for the closer expiration to experience a larger move than the back month and thus you can lose more than you make? I believe I understand that correctly so my actual question is, is this true for SVXY and VXX? Thanks for imparting your knowledge so us plebeians can learn.
Question from Encinoj: Here’s my time strangle trade idea for VIX. Buy 1-2 yr VXX 20% OTM puts and also buy approx. 3 mth. 20% OTM VIX calls.

Crystal Ball: Wild prognostication ensues

Last week:

Andrew: 9.99
Russell: 8.95
Mark L: 9.55

This week:

Mark S.: 9.99
Russell: 9.15
Mark L.: 9.65

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

The Numbers:

VVIX - 91.5
CBOE Skew Index - 136
VXN - 14.7

Russell's Weekly Rundown

VIX Options: ADV - 833k, VIX Call/Put - 3.9, Total 11.7m (9.37m Calls, 2.37m Puts)
Earnings Volatility: Apple, Facebook, Tesla
Commodity Volatility: Crude/OIV, Gold/GVZ

Volatility Voicemail: Listener questions and comments

Comment from Don S: :Ah, if you had called me for the last VV, I would have regaled you with stories from the Morgan Stanley trading desk about Black Monday. But none would have been better than the one of my buddy and colleague, Peter, who in August 1987 decided that the market was overdone and invested $20,000 of his own money in OTM SPX November puts. Those options, which were 1/8 before the crash, went to $50, and his $20,000 turned into 400 times that, or ... wait for it! ... $8 million! Ah, the good ol' days. :-) Don
Question from Hawkeye - To ye merry band of Magical Voice, grease laden Meatballs, favorite Uncles, and Lobsters with Tubs of butter: I already get that SVXY, XIV, and other short ETF/ETNs can go bust overnight due to the front 2 futures doubling. What would happen if I held long SVXY puts in an IRA and the fund had to close because the SHTF? How would I exercise them if the fund doesn't trade? I can't cover due to underlying frozen, but I can't exercise without covering because that would put me short in an IRA? Or would they still allow it as an exception? How would it all unwind? Thanks for all you guys keeping me learning, laughing, and most of all, thinking. Your longtime listener - Hawkeye

Crystal Ball: Wild and reckless prognostication.

Last week:

Mark L. - 9.65
Mark S. - 10.16
Ophir - 9.8
Ghost of Russell - 38.3

This week:

Mark L. - 9.55
Andrew - 9.99
Russell - 8.95

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

VVIX - 97.73
CBOE Skew Index - 135
VIX Options, ADV - 852k, VIX Call/Put - 4
Total 10.8m (8.65m Calls, 2.19m Puts)
Earnings: CMG, Twitter, Amazon, Google and Microsoft

Volatility Voicemail: Options question of the week.

It looks like you all REALLY want after-hours #Options trading. The question now - what is the best way to make it happen?

24% - Pilot For Earnings Season
52% - Top Names Only -$AMZN,etc
21% - Basic Limit Order Book
3% - Other - Reply/DM w/answer

Listener questions and comments:

Comment from j3dingle - Dear Mark Longo, Long time listener (at least a year or two, so maybe not that long!), first time emailer. I would guess I'm not the first to suggest this, but have you considered some excerpt of some rendition of "On Top of Spaghetti" for Mark Sebastian's theme song? Looks like the song even has some Chicago heritage: https://en.wikipedia.org/wiki/On_Top_of_Spaghetti In 30 seconds of you-tubing, I found Biondi's version which is pretty "good": https://www.youtube.com/watch?v=Mu4EiTJNP1k Oh, the dreams/nightmares one has on a Sunday night slumber!

Crystal Ball: Wild and reckless prognostication.

Last week:

Mark L. - 9.65
Mark S. - 10.16
Russell - 9.87

This Week:

Mark L. - 9.65
Mark S. - 10.16
Ophir - 9.80

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

Black Monday. Happy 30th Birthday to Volatility Skew!

The numbers:

VIX - 93.33
CBOE Skew Index - 146
VXN - 14.64

Russell's Weekly Rundown:

VIX ADV - 876k
VIX call/put - 4.1
VXX - 34.39
XIV - 105.87

Volatility Voicemail: Options question of the week

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

27% - Tesla - $TSLA
34% - Amazon - $AMZN
23% - Apple - $AAPL
16% - Alphabet - $GOOGL

Listener questions and comments:

Comment form MoneyEngine X3.5 - Buying CVS calls.

Crystal Ball: Wild and reckless prognostication

Last week:

Mark L. - 9.55
Mark S. - 10.25
Ghost of Russell - 28
Kevin - 10

This week:

Mark L. - 9.65
Mark S. - 10.16
Russell - 9.87

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

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

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

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:

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

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 & SVXY) 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

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

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

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

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

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

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

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
Traders 'Shocked' by VIX Bet That Could Pay $265M.
Bond Trader's $10 Million Volatility Bet Is Paying Off

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

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

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, Friday and Month-end Expirations.
A Bond Trader's $10 Million Volatility Bet Is Paying Off

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

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:

VIX Options: ADV - 691k, Total 8.8M (7m calls, 1.8m puts)
Apple, Facebook Among Techs Facing Huge Volatility
Volatility Voicemail: Listeners take over

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

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

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

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

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

VIX hits a new low of 9.37
Comey's testimony fails to move the needle
Maybe Britain will provide the spark VIX needs?
VIX Cash - 9.47, VVIX - 83.28, almost unchanged from last week.
CBOE Skew Index - 127.09, slightly higher than least week.
VIX Futures - still steep. Front month - 1.5, Second month - 2.3

Russell's Weekly Rundown:

VIX Options, Mon - 459k, Tues - 473k, Weds - 453k, Thurs - 473k, ADV - 722k. VIX Call/Put: 3.3/1. Total 9.20m (7.06m Calls, 2.14m Puts)
VXX - ADV 356k, OI - 1.2/1 calls over puts.
OIV - 32.31
OVX - 33.84

Volatility Voice mail: Questions, comments, polls and more!

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

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

Listener Questions and comments

Comment from John King - #Fired #FBI director completes televised #Testimony negative for sitting #president & #VIX DOWN .41 to 9.98. Just plain crazy. @Options #USA
Comment from AGTrader - God help them when they have to all cover at once.

Crystal Ball: Your prognostication headquarters

This week:

Mark L. - 9.75
Mark S. - 10.5
Russell - 11.23

Today we have special guest co-host: Ophir Gottlieb, Capital Market Laboratories.

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

VIX Cash: 9.89
VVIX: 83.83 - Both almost unchanged from last week.
CBOE Skew Index : 124.55
VIX Futures till steep

Russell's Weekly Rundown:

VIX Options: Mon - Closed, Tues - 264k, Weds - 545k, Thurs - 231k, ADV - 722K
VIX Call/Put: 3.2/1
Total 8.37m (6.39m Calls, 1.98m Puts)
OIV - 29, OVX - 31

Volatility Voicemail: Options Question of the Week

AMZN just hit $1000. Will GOOGL do it next? GOOGL $1000 call expiring Friday = $4, $1000 Put = $8. How would you trade?

Sell $1000 Call for $4 - 21%
Buy $1000 Call for $4 - 38%
Sell $1000 Straddle: $12 - 19%
Sell $1000 Put for $8 - 22%

Listener Questions and Comments:

Comment from FContangotrader - @Options @OptionPit @OptionVol @RussellRhoads I am very impressed from Mark and his poetry and ABC options and Uber rhyme
Comment from Production One‏ - Replying to @Options @optionpit Meatball long 1W SPX straddle hit! Way to go Marco!
Question from JavierLBC - Hi guys. I am new. found you on stocktwits. Did you see 36,000 sep 25 calls on VIX?

Crystal Ball: Wild and reckless prognostication.

Last week:

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

This week:

Russell - 10.60
Mark S. - 9.63
Mark L. - 9.75
Ophir - 10

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

VIX Cash - 9.99
VVIX - 82.20
CBOE Skew Index - 123.65

Russell's Weekly Rundown:

VIX Options: Mon - 558k, Tues - 522k, Weds - 449k, Thurs - 474k, ADV - 727K, VIX Call/Put: 3/1
Total 7.70M (5.79m Calls, 1.91m Puts)
Oil plunges 4 percent on disappointment with OPEC cuts

Volatility Voicemail: Options Question of the Week

$VIX =11.20. $VIX June Future = 12.40 $VIX Weekly 11 puts = $.15, Weekly 13 Calls = $.15. What's your trade?

Buy 13 Call for $.15
Buy 11 Put for $.15
Sell 13 Call for $.15
Sell 11 Put for $.15

Listener Questions and Comments:

Comment from VTrader - When VIX is below 11.5 since 2006, that current difference between from the front month and VIX cash is at its highest.
Question from Eli Vagan - Did the spike in VIX last week finally break that short Vol feedback loop that everyone is focused on these days?
Question from Benod - What was the truth behind that VIX strangle last week?
Question from Allan Nemy - All this action in crude it seems like a good time for some crude Vol products. Why no CBOE crude volatility options?

Crystal Ball: Wild and reckless prognostication

This week:

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

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

VIX cash: 14.66
VVIX: 104.12
Ten biggest $VIX rallies and what $VIX did the following day
Question from @FContangotrader: How many % $VIX went up today? #%of%
CBOE SKEW Index:137
The Volatility Buyer Known as '50 Cent' Just Had a Huge Payday

VIX options:

ADV - 747K; Thurs - 806K; Weds - 1.34m; Tues - 1.06m; Mon - 533K
VIX call/put: 3.1/1

Hot VIX strikes

308315 .VIX Jun 21st 30.0 C, chg +4261
274854 .VIX Jun 21st 35.0 C, chg +521
261116 .VIX Jun 21st 20.0 C, chg +22016
256652 .VIX Jun 21st 15.0 C, chg +61381
207375 .VIX Jun 21st 19.0 C, chg +36896
182527 .VIX Jun 21st 16.0 C, chg +21143
165518 .VIX Jun 21st 25.0 C, chg -17814
161130 .VIX Jun 21st 18.0 C, chg +7305
153348 .VIX Jun 21st 17.0 C, chg +4539
139338 .VIX Jun 21st 11.5 P, chg +8819
Total 6.77m (5.13m Calls, 1.64m Puts)

Earnings Volatility

GAP (GPS): $23.13; ATM straddle : $1.85 - approx. 8%
BABA: close $120.72; ATM straddle approx. $6; approx. 5%; dropped as low as $114 - $6.72; close $121.35 - UP .5%
WMT: close $75; ATM straddle $2.25; approx 3%; high $77.66

Volatility Voicemail: Listener questions and comments

Question from Vtrader168: Considering that there is large Vol jump Wednesday without major event, and the market recovery is not that strong, is it an indicator that the period of the extremely low VIX is over, and VIX return to "normal-low" level?
Question from Volbug: Hi. This is for Volatility Views: Thanks for the show Marks and Russell. You mentioned that implied vol is often more than realized vol. Does the time frame of the option, impact that calculation? For example 1 monthly option is cheaper that 4 weekly options. Thanks.

Crystal Ball: Wild prognostication

Last Week:

Mark L. - 10.25
Russell - 11.25
Henry - 9.90

This Week:

Mark L. - 10.75
Mark S. - 11.05
Russell - 12.26

Mark, Russell and Henry are live (to tape) at the annual Options Industry Conference. They took some time away from the pool to give our listeners the scoop on volatility.

Volatility Review: Henry delivered some of the highlights of the conference. The concentration of volume in a few names, aka the 80-20 rule. The impact of fragmentation on volume. The heavy percentage of complex orders of overall volume. The buzz about a WSJ article on the decline of options volume and the stats that dispel that idea. The opportunities being generated by complex order books. Are we looking at coopertition? VIX below 10: what does it mean? Is there really a new supply of premium sellers? How much pain can they stand, and how will that impact the market?

Russell's Weekly Rundown: What did Russell notice this week?

It's the week before standard VIX expiration
Crazy spreads
Top ten strikes of the week

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

VIX Cash - 10.46, practically unchanged from last week.
VVIX - 78, same as last week.
CBOE Skew Index - 130.5, 12 point lower than last week.

Russell's Weekly Rundown:

VIX Options: Mon - 572k, Tues - 746k, Weds - 469k, Thurs - 657k, ADV - 734k
VIX Call/Put: 3/1: Total 9.68m (7.26m Calls, 2.42m Puts)
CBOE begins trading options on VelocityShares EVIX - contract based on VSTOXX Short-Term Futures Investable Index

Earnings Volatility:

Tesla Close - $311, ATM Straddle approx. - $17, approx. 5.5%
FB: Close - $151.80, ATM Straddle - $5.63, approx. 3.7%

Volatility Voicemail: AAPL Earnings Pop Quiz

AAPL $146.50, Weekly straddle $5 (3.5%). IV30 = 21%, Weekly 155 Call= $.27, 138 Put = $.27 Would you rather?

Buy Straddle/ Iron Fly, 18%
Sell Straddle/Iron Fly, 34%
Buy Call, 44%
Buy Put, 7%

Earnings Season Flash Poll

ZNGA reports earnings today. Stock is trading $2.87. #Options ADV 3K. Do you trade options on cheap stocks?

Yes, down to $10
Yes, down to $5
Rarely
No, the stock is an option

Listener questions and comments:

Thank you for the fan art, inspired by Don Schlesinger, sent in by Hawkeye.
Comment from Don S. - Mark, listening to the recent Vol Views from RMC, I was going to write to you, in any event, when, all of a sudden, I heard my name invoked with respect to buying options ("I hope Don Schlesinger is not listening")! Well, I was listening, so will share a few views on vol. :-). I am continually amused by the staying power of the traditional topics. Thirty-three years ago, when I began in the industry, but most especially after the 1987 crash, when the skew was born, it became axiomatic to me that the only good thing to do with an option was to sell it or not sell it. Today, you have invented new-fangled terminology, such as "risk premium harvesting" (which I find adorable!) to describe exactly the same thing: to sell options because their implied volatilities are, on average, considerably higher than what realized volatility of the underlying goes on to display. I am not sure why we need the new vocabulary, but whatever makes people happy. You can either be the insurance company or be the policy owner. Which one makes the most money?
Question from @fksthlm - Did something just break in VIX ETFs? Was the move 11:45 Wednesday, hindsight guess I was only surprised to the sensitivity to futures at this level

Crystal Ball: Wild and reckless prognostication

Last week:

Mark L. - 11.50
Mark S. - 11
Russell - 11.95

This week:

Mark L. - 10.55
Mark S. - 9.95
Russell - 10.10

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

VIX Cash - 10.36
VVIX - 76.66, back in the toilet.
CBOE Skew Index - 142.55, still rich.

Russell's Weekly Rundown:

VIX Options: Mon - 975k, Tues - 801k, Weds - 475k, Thurs - 571k, ADV - 734k
VIX Call/Put - 2.7/1; Total 8.81m (6.55m Calls, 2.27m Puts)
Earnings Volatility: Alphabet, Amazon, Intel, Starbucks, Alcoa, Chipotle

Volatility Voicemail/OptionsQuestion of theWeek:

Earnings Season is upon us. Big names are reporting soon. Which is your pick for the largest % move post-earnings?

$AMZN - 36%
$GOOGL - 26%
$CMG - 30%
$MSFT - 8%

Listener questions and comments:

Question from FContangotrader -What is your 2 cents on this article? Thanks.
Comment from Lolzi - Could we all just get along and agree that VXX erodes relatively predictably? Who really cares if its roll yield or flying pigs as long as you can count on it with some degree of certainty?
Question from JJonQuin - You say VIX call to put of 2-3 is normal. What is not normal? When should we get alarmed? 5? 6? Higher?

Crystal Ball: Wild and reckless prognostication.

Last week:

Mark L. - 12.75
Mark S. - 16
Russell - 13.25

This week:

Mark L. - 11.5
Mark S. - 11
Russell - 11.95

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

VIX Cash: 14.15
VVIX: 94.53
CBOE Skew Index: 146.85 +6.65 (+4.74%), getting rich again.

Russell's Weekly Rundown:

VIX Options: Mon - 616k, Tues - 1.4M, Weds - 1.6M, Thurs - 752k, ADV - 712k
VIX Call/Put: 3/1: Total 7.27m (5.45m Calls, 1.82m Puts)
OIV/OVX - 28.26

Volatility Voicemail: Options #QuestionoftheWeek

Earnings are back with some juicy straddles reporting this week. Which is your pick for the most overpriced?

$NFLX: ATM Straddle 8%
$BAC: ATM Straddle 3%
$EBAY: ATM Straddle 7%
$ETFC: ATM Straddle 4%

Listener Questions:

Question from Nizy - So I am confused. Per your VIX Myth-busting episode - what is the deal with with the VXX erosion? It is not due to the roll or it is? If so then how does it erode when VIX futures are backward?
Question from Avil3 - UGetting my dad to the dark side. He is thinking about dipping his toes in the Vol waters. What product do you recommend for a Vol newcomer making his first trade? Thx and I will try to get him to listen.

Crystal Ball: Wild prognosticating

This week:

Mark L. - 12.75
Mark S. - 16
Russell - 13.25

This Best of Volatility Views was recorded on November 8, 2016.

The resurgence of Donald Trump in the U.S. election is weighing heavily on markets around the globe. We break down the historic action in VIX, Dow, SPX and more live on this special late-night episode of Volatility Views.

This episode of Volatility Views was recorded and posted on November 8, 2016.

You want a Volatility Views looking at election volatility in real time? Well, Mark, Russell and the greasy meatball got together and did just that.

Volatility Review: Today we are joined by guest co-host Bill Valentine, Commodore Fund

VIX Cash - 12.39, VVIX - 84
CBOE Skew Index - 131, back down to normal levels
VIX Options: Mon - 597k, Tues - 368k, Weds - 720k, Thurs - 564k, ADV - 659k, (Total: 9.8M - 7M Calls, 2.8M Puts)
VIX Call/Put - 2.4/ 1
OIV/OVX - 26 - in the toilet
GVZ - 12.85
TYVIX - 5.12

Volatility Voicemail: Comment from LVT. Re: your discussion from last week. I think moving averages are worthwhile when analyzing VIX. Other than that, not so much.

Crystal Ball: Your VIX prognostication headquarters

Last week:

Mark L. - 12.50
Andrew - 12
Russell - 12.80

This week:

Mark L. - 12.65
Mark S. - 12
Russell - 9.87
Bill - 13

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

VIX Cash - 11.54
VVIX - 7.5
CBOE Skew Index - 139

Russell's Weekly Rundown:

How is the April 26 fly looking?
VIX Options: Mon - 635k, Tues - 740k, Wed - 601k, Thurs - 498k, ADV - 648k
VIX Call/Put: 2.4/ 1. Total 8.91m (6.30m Calls, 2.62m Puts)
OIV/OVX - 28
GVZ - 12.06
TYVIX - 4.68

Volatility Voicemail: Options #BrokerMadness tournament going on now.

Finals matchup! We have @Lightspeed v. @OptionsHouse
Question from CheckersKing - I see a lot of folks talking about about moving averages and support and resistance levels in $VIX. Is this kind of TA useful with $VIX or is it apples to oranges?
Question from MoustacheGod - I think I am too late but I pick axe/sword for the zombie apocalypse. What do I win. Jk. But if I am looking at an end times indicator is there one that is better than the rest or is it all about context and grouping multiple indicators together.

Crystal Ball: Wild prognostication

Last Week:

Mark L - 12.50
Mark S. - 12
Russell - 12.80
Ricardo - 13.5

This Week:

Mark L. - 12.50
Mark S. - 12
Russell - 12.80

Volatility Review: Today we have special guest co-host: Ricardo Manrique, Executive Director/Index Business Management, Derivatives at MSCI.

VIX Cash - 13.12
VVIX - 89, VIX has closed below 13 for 54 consecutive sessions now, the longest streak since Feb. 2007.
CBOE Skew Index - 132, dramatically lower than earlier this week, hit a high of 154.34 on March 17.
VIX Futures - Front month: .9, Two Month: 1.4
VIX Options: Mon - 785k, Tues - 1.6M, Weds - 917k, Thurs - 512k, ADV - 637k. Total 8.09m (5.77m Calls, 2.32m Puts)
VIX Call/Put: 2.5 / 1
OIV/OVX - 29.85
GVZ - 12.58
TYVIX - 4.37

Volatility Voicemail: Listener questions and comments

Question from FKSTHLM: Hey you guys discussed put selling on SVXY last week on Volatility Views, without mentioning the risk that this ETP could actually go to zero overnight. Is a doubling of VIX futures overnight impossible to happen in the future? What would happen to open options positions if so?

Crystal Ball: Wild and reckless prognostication

Last Week:

Mark L. - 10.65
Mark S. - 10.90
Russell - 11.11

This Week:

Mark L. - 12.50
Mark S. - 12.00
Russell - 12.80
Ricardo - 13.50

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

VIX Cash: 11.16
VVIX: 75
CBOE Skew Index: 153.66, highest since 6/27/16.
VIX Futures, Front month premium to cash - 0.5, Two month - 2

Russell's Weekly Rundown:

VIX Options: Mon - 317k, Tues - 578k, Weds - 1.26M, Thurs - 546k, ADV - 605k
VIX Call/Put: 2.5 / 1
Total 11.6M
We have officially killed the 30 strike!
OIV/OVX - 28.22, spiked to nearly 35 last week on WTI sell-off
GVZ - 11.07
TYVIX - 4.37

Volatility Voicemail: Options #QuestionoftheWeek

$VIX = 11.50, $SNAP IV30 =56, $AAPL IV30 = 14, $OIV= 33. If you had to buy #Volatility-which is the best value?

$SNAP - aka Tween Vol
$AAPL - aka #iPhone Vol
$VIX - aka $VIX
$OIV -aka #Crude $VIX

Listener questions:

Question from MerchantAdventurers - Non jargon...lots are betting VIX goes lower, yes?
Question from Grow Your Business - There will be a day in the next 60 days that it will spike big. Should have a pool to see who guesses the correct date. April 13th!

Crystal Ball: Wild and reckless prognostication

Mark L. - 10.65
Mark S. - 10.90
Russell - 11.11

Volatility Review: Vol Views is live from the 2017 RMC Conference in Dana Point, CA! Mark and Russell are joined by:

Bill Luby, VIX and More
Ilya Feygin, Managing Director, Wallachbeth

Themes from the event include:

Kelly criterion
How low VIX is
Buying options
Social media sentiment
Steepness of vol term structure
Sector movement
Weekend risk and the dampening of volatility
And more

Volatility Viewpoint: This episode features a special guest: David Hait, Founder of OptionMetrics.

He discusses:

A overview of Option Metrics and the Feb. 21 release on skew
What is the flavor of choice for skew at Option Metrics?
Why does he think we are seeing such a bid in VIX futures right now?
How does this term structure compare to historical levels?
What his your outlook for volatility under Trump?

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

VIX Cash - 11.71, unchanged from last week.
VVIX - 83.61, also unchanged from last week.
CBOE Skew Index - 133.6. Front month premium to cash: 1.4, less than last week. Two month premium to cash: 3.25, slightly less than last week.

Russell's Weekly Rundown:

VIX Options: A mild volume week. ADV - 575k. Mon - 437k, Tues - 455k, Weds - 492k, Thurs - 275k. Total 9.70m (7.04m Calls, 2.66m Puts)
SNAP: The first big IPO of the year is off to the races. It was supposed to list at $17, opened at $24 and traded up to nearly $26.

Options Pop Quiz: If $SNAP opens at $17 what price would you give the ATM straddle expiring 3/10? AKA how much movement do you expect? (Our listeners totally called this one)

13% - Between $1 - $2
13% - Between $2 - $3
19% - Between $3 - $4
55% - Over $4 - aka over 23%

Volatility Voice Mail: Options #QuestionOfTheWeek

$VIX has already hit single digits under @realDonaldTrump. How low will it get during the rest of his term?

29% - It won't break 10 again
22% - Between 9-10
22% - Between 8 - 9
27% - Below 8

Question Number 2: $SNAP closed at $24.50. If #Options were available tomorrow would you rather:

45% - Buy 1 month $24 put
11% - Buy 1 month $25 call
19% - Stay the heck away
25% - I would rather sell premium

Listener questions and comments:

Comment from Hawkeye - Mark, I call MAJOR umbrage for you taking credit for MY idea of calling Russell "Dr. VIX"! As you can see in the forwarded email below, I have it IN WRITING that I proposed that moniker for the good Dr. back on November 17, 2015. You should feel ASHAMED of yourself in your weak attempt to take credit for my idea, ESPECIALLY since I sat right next to you and Uncle Mike at the Lobster and Meatball fest in Chicago a couple years ago, eating tasty steaks on Sebastian dime. Have you no shame, sir? Is your memory that short? Umbrage! I hereby give you permission to send the residual checks to my PayPal account. On another note, here is another idea that you CAN keep:
The business show should use as its motto The Business Show! It is an audio train wreck -- you cannot stop listening no matter how much you know you shouldn't. While I am at it, I really like Nick and the new revitalized Futures shows. Even though I do not trade futures options, I still use the concepts to trade some of the ETFs/ETNs. Get the Typhon guys back on and see if you can get the Viceroy and Don S. back on for a mega-reunion show sometime. Keep up the great work! Hawkeye
Question from Kmar65 - Have you all covered the situation with Catalyst and the HFXAX fund recently? I try to get to all the webcasts but must have missed it if you had. Expected max drawdown was 5% and they blew through that. Gives one cause for pause re options strategies. would be great to understand how it happened and how it could/should have been avoided. Thanks in advance!

Crystal Ball: Your prognostication headquarters

Last week:

Mark L. - 11.25
Mark S. - 11.50
Russell - 12.34
Guest - 12.65

This week:

Mark L. - 11.55
Mark S. - 11.00
Russell - 12.00

Volatility Viewpoint: featuring Tobias Hekster Co-CIO at True Partner Capital USA.

He discusses:

His background in the volatility space
Which products did he trade?
The Hong Kong volatility scene
What does True Partner Capital do?
What does True Partner Capital trade?

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

VIX Cash: 11.71 and VVIX: 82.20, both almost unchanged from last week.
CBOE Skew Index: 141, approaching the 6-month high of 146 set on Jan 20.
VIX Futures term structure surprisingly steep, VIX futures bid even though realized volatility remain above 6. Front month premium to cash: 1.9, steeper than last week. Two-month premium to cash: 3.50, much steeper than last week.

Russell's Weekly Rundown:

VIX Options: A mild volume week. Mon - Closed, Tues - 719k, Wed - 524k, Thurs - 78k, ADV - 575k. VIX Call/Put: 2.6/1. Total 8.57m (6.21m Calls, 2.35m Puts)
OIV/OVX: 25.52, oil volatility continues to be crushed.
GVZ: 13.68, also continues to erode.
TYVIX: 5.29

Volatility Voicemail: So many questions

Options #QuestionOfTheWeek: $VIX has already hit single digits under @realDonaldTrump. How low will it get during the rest of his term?

It wont break 10 again
Between 9-10
Between 8 - 9
Below 8
Question from Fksthlm: VSTOXX vs VIX Frexit risk: your view on this in today's show would be very interesting!

Crystal Ball: Wild, reckless prognostication

Last week:

Mark L. - 10.45, Mark S. - 10.85, Russell - 11.75

This week:

Mark L. - 11.25, Mark S. - 11.50, Russell - 12.34, Tobias - 12.65

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

VIX Cash - Just under 11.76
VVIX - 80
CBOE Skew Index - 141, approaching 6-month high of 146 set on Jan 20.
VIX Futures: Front month premium to cash - 1.25; Two month premium to cash - 2.50.

Russell's Weekly Rundown:

VIX and Three Day Weekends, by Russell Rhoads, CFA
Block Trade Analysis - Large Bullish 1 x 4 VIX Option Trade, by Russell Rhoads, CFA
VIX Options: A high volume week, ADV - 559k; Mon - 816k, Tues - 1.3M, Wed - 1.14M, Thurs - 822k; VIX Call/Put: 2.8/1; Total 7.21m (5.18m Calls, 2.03m Puts)

Volatility Voicemail: Quizzes, questions, comments

Options #QuestionOfTheWeek: Trading single #Calls and #Puts is fine, but smart #Options traders use spreads. What is your go-to spread?

Vertical/Ratio Vertical
Calendar/Diagonal
Butterfly/ Iron Butterfly
Iron Condor

Listener questions:

Question from Nordictan - Is it possible to change the default LiveVol font settings and make it larger? The current setting is simply too small for my multi-monitor setup. My screen devoted to LiveVol is a bit removed from my seating position so I always struggle to read it. A nice pop in the font size would be very useful.
Question from Vincent Chase - Why do you say that this earnings cycle is disappointing from a volatility perspective?

Crystal Ball: Your headquarters for wild and reckless prognostication.

Last week:

Mark L - 10.45
Mark S. - 10.85
Russell - 11.75

This week:

Mark L. - 11.25
Mark S. - 10.75
Russell - 12.01

Volatility Viewpoint: Today we have special guest: Greg King, REX ETFs CEO/Founder, "The Godfather of VXX."

He discusses:

The process for launching VXX
How did it come about?
The process for launching XIV
Why make the switch into a short volatility product?
What is REX ETF?
How do the new products work?

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

VIX Cash - under 11
VVIX - 85.84
VIX Futures: Front month premium to cash: 1.1. Two month premium to cash: 2.80.

Russell's Weekly Rundown:

VIX Options: ADV - 559k. Mon - 350k, Tues - 519k, Weds - 886k, Thurs - 691k. Total 9.18m (6.82m Calls, 2.36m Puts).
VIX Call/Put: 2.8/1
CBOE Skew Index - 129, down 4.82 (3.6%)
OIV/OVX - 29.50
GVZ - 15
TYVIX - 5.40

Crystal Ball: Wild and reckless prognostication.

Last week:

Mark L. - 10.50!
Mark S. - 10.92
Russell - 12.01
GUEST - 11.34

This week:

Mark L. - 10.45
Mark S - 10.85
Russell - 11.75

Volatility Viewpoint Featuring Mike Menslage of VolSurface Capital Management.

He discusses:

What is VolSurface Capital Management?
What is their typical strategy and product?
What is their take on the new volatility and political regime? Are we destined for a prolonged period of low volatility
VIX long-term mean of 20?
Why is the 30 strike so popular?

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

VIX Cash: 11.25
VVIX: 88, off its recent highs.
VIX Futures: Front month premium to cash: .26; Two months premium to cash: 2.6

Russells Weekly Rundown:

VIX Options: Thurs - 327k, Weds - 546k, Tues - 442k, Mon - 745k
VIX Call/Put: 2.5/1: Total 7.93m (5.88m Calls, 2.05m Puts)
OIV/OVX - 29.50
GVZ - 15
TYVIX - 5.40

Crystal Ball: Wild and reckless prognostication

Last week:

Mark L. - 11.50
Mark S. - 11.05
Russell - 12.99
Bill Luby - 11.78

This week:

Mark L. - 10.50
Mark S. - 10.92
Russell - 12.01

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

VIX Cash: 10.63
VVIX: 80, off recent highs.
VIX Futures: Front month premium to cash: 2.1, two month premium to cash: 3.5

Russell's Weekly Rundown:

VIX Options: ADV - 580k; Thurs - 638k, Weds - 613k, Tues - 863k, Mon - 427k; VIX Call/Put: 2.5/1
Earnings season dramatically underwhelming so far.
Google, MSFT, INTC, PayPal, SBUX
OIV/OVX - 29.50
GVZ - 14.74
TYVIX - 5.65

Volatility Voicemail: Question of the week, plus listeners have their say

Options #QuestionOfTheWeek - Lots of earnings on the horizon. Which company will outperform their earnings straddle by the largest margin?

Alphabet - $GOOGL
Microsoft - $MSFT
Intel - $INTC
Starbucks - $SBUX
Question from VolBug - Hi Mark, Can you and the crew give you assessment of SVXY and whether you think it tracks well and what are some of the vulnerabilities? Thank you sir.

Crystal Ball: Your prognostication headquarters

Last week:

Mark L. - 11.55
Mark S./Andrew - 12.01
Russell - 12.34

This week:

Mark L. - 11.50
Mark S. - 11.05
Russell - 12.99
Bill Luby - 11.78

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

VIX Cash - 13
VVIX - 86
VIX Futures: Front month premium to cash - 1.5; Two month premium to cash - 2.70

Russells Weekly Rundown:

VIX Options: A heavy volume week. ADV 554k, Thurs - 405k, Weds - 850k, Tues - approx. 1M, Mon - Closed. VIX Call/Put: 2.9/1. Total 5.4M (4M Calls, 1.4M Puts)
OIV/OVX - 30.88
GVZ - 15.17 - Near the low end of a 52-week range.
TYVIX - 5.91

Volatility Voicemail: Listeners get their say

#Options #QuestionOfTheWeek - Earnings Season awakens! How do you play earnings using options? Are you an Earnings #Jedi or #Sith?

Dark Side (Short Premium)
Light Side (Long Premium)
No Side - Avoid earnings
Other (Reply/DM w/ideas)
Question from Maryanne - How long do you think this period of low volatility will last?

Crystal Ball: Your prognostication headquarters

Last week:

Mark L. - 12.25
Mark S. - 11.50
Guest - 14.51
This week:
Mark L. - 11.55
Andrew - 12.01
Russell - 12.34

Volatility Review: A much quieter start to 2017 than 2016 so far.

VIX Cash - 11.54
VVIX - 90.5
VIX Futures: Front month premium to cash: < 1; Two-month premium to cash: 2.70
Expect 2017 to be more volatile than last year.
VIX Options: A heavy volume week - ADV: 554k; Total 7.5M (5.7m Calls, 1.8m Puts)
Oil Volatility: OIV/OVX - 29.87

Volatility Voicemail/QuestionOfTheWeek:

$VIX hit a high of 28 last year. How high will $VIX get in 2017?

About the same (27-29)
Slightly Lower (24-26)
Slightly Higher (30 - 33)
Much Higher (Above 33)
Listener Question from ChilliBill: The fed report from the last show was pretty damning. Any other secret studies on Volcker and Vol lurking out there?

Crystal Ball: Wherein the hosts prognosticate on where the VIX will close.

Last week:

Mark L. - 11.5
Russell - 10.99
Mark S. - 12.01

This week:

Mark L. - 12.25
Guest - 14.51
Mark S. - 11.5

Volatility Review: A much quieter start to 2017 than expected. VIX Cash at 11.67. VVIX at 81. VIX Futures: Front month premium at 1.43. 2016 was a good year for the volatility business. From a CBOE press release: Several trading records were set for the year.

Russells Weekly Rundown

VIX Options: ADV: 544k
A fairly light volume week to kick off the new year.
Total 5.9M (4.4m Calls, 1.5m Puts)
What is the impact of the Volcker Rule of volatility?
Oil Volatility: OIV/OVX - 31.5, crude Vol creeping back above 30.

Volatility Voicemail: Pop quizzes, questions, and comments

Happy New Year! First #QuestionOfTheWeek for 2017. Total #Options volume dropped 2% last year. How will 2017 #Options volume compare?

About the Same (+- .5%)
Modest Increase (up 1-2%)
Modest Drop (down 1-2%)
Big Change (+- over 2%)

#Volatility Pop Quiz - New Years edition: The trillion dollar question - Where will $VIX close at the end of 2017?

Below 12
Between 12-15
Between 15-18
Over 18

Listener questions and comments:

Comment from Alaran: I think the 30 strike is popular each month simply because big insurance firms need to hedge themselves against calamitous market events. VIX > 30 = calamitous event in the eyes of many.
Question from Julio: In the spirit of the new year, when are we going to get new VIX products? Especially Monday through Friday weekly VIX options?

Crystal Ball: Looking into the future

Two weeks ago:

Mark L. - 11.25
Russell - 12
Ghost of Mark S. - 5.2

This week:

Mark L. - 11.5
Russell - 10.99
Mark S. - 12.01

Volatility Review: VIX Cash - 13.45, Where is the Vol coming from?

VVIX: 89
VIX Futures: Approx. 1.4 point premium cash vs Jan future, about 1 point narrower than last week.

Russells Weekly Rundown

Interesting VIX weekly trades
VIX Options ADV: 550k
A very light volume week. 79k contracts on 12/27, lightest of the year. Total 5.25M (3.95m Calls, 1.3m Puts)
Oil Volatility: OIV/OVX: 29

Volatility Voicemail/End of Year Volatility Pop Quiz.

$VIX is currently 13.71. Where will $VIX close for 2016?

Between 13.75-14
Over 14
Between 13.5 - 13.75
Below 13.50

Listener questions:

Question from Tadoom: Biggest volatility surprise of 2016? Mine was Brexit.
Question from RealRX: Hey fellas! When Vol is this low and heavy volume in Jan SPY puts of late, what long Vol delta range do you prefer to use in these super cheap premium times?
Question from Andrew P.: Which president oversaw the period of greatest volatility?

Crystal Ball: Year-end prognosticating

Last week:

Mark S - 11.25
Russell - 12

Bonus Round - Next year:

Russell - low: 12.50, high: 37.37, avg. 17.50
Mark S. - low: 10.50, high: 25.00, avg. 15
Mark L. - low: 10.00, high: 34.50, avg. 15.5

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

VIX Cash - 11.75
VVIX at 89, rebounding slightly off late-November ow of 79.
VIX Futures: Approx. 2.5 point premium cash vs. Jan future.

Russells Weekly Rundown:

Watching the Dec 28 strike
VIX Options: ADV - 550k. A decent volume week, several days over ADV, light volume on Friday. Total 4.80m (3.55m Calls, 1.26m Puts)
Crude Oil: Crude Vol continues to be crushed, now below 30. OIV/OVX - 29, what is the new floor for crude volatility?

Volatility Voicemail: Listener questions and comments

#QuestionOfTheWeek - Major market indices are pushing record highs. Everyone has protection on the brain. How do you protect your portfolio?

Just Move to Cash/Bonds
Protective ATM/OTM Put
Put Spread/Ratio Put Sprd
Collar or Collar w/Kicker
Question from Ian Wagner - I am confused. Are there tradable RVX options? CBOE has microsite, but not seeing them listed on brokers. Thanks!
Question from Eddy - December for volatility; Is this month always the seasonal low for volatility in the year, or is that still reserved for July/August?

Crytsal Ball: Wild prognostication ensues

Last week:

Mark L. - 12.25
Mark S. - 11.5
Russell - 13.5

This week:

Mark L. - 11.25
Russell - 12

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

VIX Cash: 12.3
VVIX: 91
VIX Futures are about 2.5 handle premium between cash & Jan futures.
VIX Options: 845K contracts on Tuesday lighter volume the rest of the week. Total 7.79m (5.49m Calls, 2.30m Puts)
Oil: Crude Vol continues to be crushed with OIV/OVX at 30.

Volatility Voicemail: Question and answer time

#QuestionOfTheWeek: Financial advisors represent the last options frontier. What level of options knowledge do you expect from your advisor?

None - I'll do it myself
Level 1: Buy Puts/Calls
Level 2: Income & Vol
Level 3:Option Specialist
Question from Hitman - Is the crab priced in yet? What about black swan events? Any options indicators shooing one of those may be on the horizon?
Question from Vegan - You mention the Fed with regards to equities. Should the Fed really care about what the market is doing?

Crystal Ball: In which the hosts guess the close of next week's VIX

Last Week:

Mark L. - 12.25
Mark S. - 11.5
Russell - 13.5

This Week:

Mark L. - 11.75
Andrew - 12.55
Russell - 13

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

VIX Cash - 12.3
VVIX - 91

Russells Weekly Rundown:

A glimpse into Russells RMC Asia excursion.
VIX Options: A heavier volume week this week. Total 6.79m (4.75m Calls, 2.04m Puts)
Earnings Volatility: Block Trade Analysis: A buyer of 250,000 XLF Jan 20th 25 calls
Oil Vol: Crude Vol gets a smack down. OIV - 32, WTI back over $50 is contributing to the Vol collapse.

Volatility Voicemail: Listener questions and comments

Comment from JoeSmith78 - Profit taking after FOMC meeting is my guess, why else would they move together?
Question from Jackobin - Is it possible to buy a basket of commodity volatility? Maybe an ETF?

Crystal Ball: Wild, perhaps reckless prognostication.

Last week:

Mark L. - 13.5
Mark S. - 14.25
Russell - 21.2

This week:

Mark L. - 12.25
Mark S. - 11.5
Russell - 13.5

Volatility Review: The Trump vol selloff seems to have stabilized. VIX Cash: 14. VVIX : 97. VIX Options: Light volume week coming off the holiday, and even mild volume heading into non-farms. Total 5.97m (4.16m Calls, 1.81m Puts). Oil Volatility: OIV: 40. XLE is up 8% since Tuesday, volume 1.5x ADV - calls slight over puts. USO up over 10% Since Tuesday, volume 2x ADV today - calls over put 2-to-1.

Volatility Voicemail: Listener questions and comments

Comment from Kay Kamra - In regards to Faith in OPEC Deal Turns Options Traders Into Oil Bulls - OVX almost touching July highs...I expect a pullback in OVX and subsequent pop in /CL
Comment from Mark Brant - Selling SPX IBs daily reveals Vol variance not apparent in VIX. We need an ATM VIX @CBOE!
Question from RealRK - Speaking of bond volatility, if you have time, what do you guys think of bearish put spreads on HYG/JNK/LQD? With yields increasing, why have the high yield bonds lagged? I assume because of the longer term move more in price because of the lower yields moving more in price with short term yield changes, but I see huge put activity every other day in these high yield bond funds.
Comment from TJones - VXXLE who knew? Where are those CBOE guys hiding these indexes? Any more up their sleeves?
Comment from Tulip Futures - Low for VIX is no signal, high of VIX is signal that forces in world will come and calm things down.

Crystal Ball: Prognostication headquarters

Last week:

Mark L. - 11.75
Mark S. - 12.25
Russell - 14

This week:

Mark L. - 13.5
Mark S. - 14.25

It may seem like it was years ago, but Brexit dominated the headlines, and Volatility Views a mere five months ago.

In this "Best of Volatility Views" we go back to the episode before the historic vote and look at the ensuing volatility explosion.

Volatility Review: The Trumpocalypse is fading. VIX cash is back below 14. VVIX = 87, back below 100.

Russells Weekly Rundown:

If a Trump Presidency is scary, why is VIX so low?
VIX Options: A lighter volume week than last week - started strong, pushing 1M contracts on Tuesday, but then fell off. Total 3.88m (2.80m Calls, 1.08m Puts)
Crude Oil: OIV = 48, elevated compared to recent weeks - spiked to 53 on Wednesday.

Volatility Voicemail/Options #Question of the Week

$TSLA ($182.50, down 3%, IV30:41, HV30:31) Straddle says $8.20 move (4.5%) by Friday close. How much will $TSLA actually move?

20% - In line: ($8-$8.50)
37% - Beat Straddle: > $8
23% - Less than Straddle: < $8
20% - Sick of #Musk / $TSLA

Listener questions and comments:

Question from Alex Devers - What does the future hold in terms of social media sentiment and volatility. Is there a social volatility index out there already? If not is this something the folks at CBOE are cooking up?
Question from Avec - Has anyone studied the effect of selling weekly options vs monthly options INCLUDING commissions? Seems like that would be a big factor when writing so many contracts.

Crystal Ball: Reckless and wild prognostication.

Last Week:

Mark L. - 15
Mark S. - 12
Russell - 13.5

This Week:

Mark L. - 11.75
Mark S. - 12.25
Russell - 14

Volatility Review: The Trumpocalypse is here! What a week! VVIX: 102. So, about last night...Patient volatility seller ended up winning big. Volatility shorts cash in despite the shock U.S. election. Volume in non-U.S. trading hours set a new daily record.

Russells Weekly Rundown:

VIX Options - A crazy volume week!
Mon - 1.05M, Tues - 1.05M, Weds - 1.03M, Thurs - 1.08M
Total 7.08m (4.62m Calls, 2.46m Puts)

Earnings Volatility:

Walt Disney Company
Nvidia
Nordstrom

Volatility Voicemail/Options #QuestionOfTheWeek

$SPX Weds Weekly straddle says 2% move through election. How much will SPX / $SPY move through Weds 11/9?

Over 3% - crazy move
Between 2-3% - big move
Between 1-2% - mild move
Less thastockn 1% - meh

Listener questions and comments:

Question from Brian: Hi Mark, your shows are the best known to me. Congratulations on your success. I have a topic/question for Volatility Views. I am trying to get a sense of how viable XIV will be in the long term. Are there red flags for ETFs/ETNs that would indicate whether or not they will go broke at some point? Are the bigger ETFs/ETNs a safer bet or is it the ETFs/ETNs that deal with future contracts the ones that end up in trouble? I appreciate and value your advise.
Question from Mike The Bookie: Yeah, the ETF based volatility indexes. Is here a good place to bracket UVXY or VXX?

Crystal Ball: Wild prognosticating

Last week:

Mark L. - 18.50
Mark S. - 10.80
Russell - 23.50

This week:

Mark L. - 15.00
Mark S. - 12.00
Russell - 13.50

Volatility Views Election Special Part Two: Volatility After Dark

The resurgence of Donald Trump in the U.S. election is weighing heavily on markets around the globe. We break down the historic action in VIX, Dow, SPX and more live on this special late-night episode of Volatility Views.

You want a Volatility Views looking at election volatility in real time? Well, Mark, Russell and the greasy meatball got together and did just that.

Volatility Viewpoint: Today we have special guest David Hait, CEO of OptionMetrics.

He discusses:

What is OptionMetrics?
An overview of the white paper on VIX Variation OptionMetrics recently released
What are the key takeaways?
The methodology for the study
The upcoming OptionMetrics Research Conference

Volatiltiy Review: VIX surging well north of the 20-handle. VVIX is up to 120.

VIX Options heavy volume week:

Mon - 397k
Tues - 731k
Weds - 602k
Thurs - 882k
Total 6.02m (4.52m Calls, 1.50m Puts)

Russell's Weekly Rundown: November 9 VIX futures focus. You will NOT be able to capture (most) election returns with that expiration. SPX weeklies and event risk

Volatility Voicemail/Options #QuestionOfTheWeek:

Special #Earnings, #Election, #WorldSeries edition $FB ATM strd=$7.30 $VIX=17.20. Which outcome is most likely?

$VIX > 20 before election
$FB beats ATM Straddle
@realDonaldTrump wins
@Cubs win World Series

Crystal Ball: Wild prognosticating

Last week:

Mark L. - 16
Mark S. - 17.15
Andrew - 17.50
Bill L. - 15.43

This week:

Mark L - 18.50
Russell - 10.80

Volatility Review: Today we have on Bill Luby of VIX and More fame.

VIX Cash: 15.36
VIX Options: Total 5.11m (3.92m Calls, 1.19m Puts)
Strategy index offers cues to derivatives investors seeking to enhance potential yields.

Volatility Voicemail/Options #QuestionOfTheWeek

Is #Trumpocalypse done? Is $VIX already pricing in @HillaryClinton win? Where will $VIX close on election day?

UNCHD (Between 12-14 )
Elevated (15-18)
Spike (Over 18)
Selloff (Below 12)

Listener questions:

Comment from Al Melvin - VIX is the best mathematical equation in history!
Question from Andrew Simon - What would it take to get a VIX of 200? Is that even possible or does that mean the Earth would explode?

Crystal Ball: Wild and reckless prognostication

Last Week:

Mark L. - 13.75
Mark S. - 12.5
Russell - 13.3333

This Week:

Mark L. - 16
Mark S. - 17.50
Bill - 15.43

VOLATILITY REVIEW

VIX Cash - 13.34

Russells paper link: https://www.lancaster.ac.uk/media/lancaster-university/content-assets/documents/lums/accounting--finance/Park-PriceDislocationandPriceDiscoveryintheSP500OptionsandV....pdf

VIX Options

Strong volume on Tues, 10/18: 780k, but light volume the rest of the week.

Total 4.30m (3.24m Calls, 1.05m Puts)

The VIX: Not so fearsome after all? - by David Hait

http://blogs.barrons.com/focusonfunds/2016/10/21/the-vix-not-so-fearsome-after-all/

VOLATILITY VOICEMAIL

Question from Avery - I found the discussion and the "point" made by ThinkTankTrading extremely confusing. Is this really something to worry about or, as Mark suggested, is it really a distinction without a difference? VXX erodes predictably. Does it really matter if its is caused by roll yield or stampeding elephants?

Question from Tom from NYC - Love the Vol Views. Been thinking about that 1x2 call vertical in VIX. Would flipping the script also work? So instead of selling 1 buying 2 calls you would BUY 1 ATM VIX PUT and then Sell 2 OTM VIX PUTS. You could capture a downside move in VIX without spending a lot. While you are short an extra VIX put you would not have the same worry of being short a VIX call because the downside risk of VIX is limited. Thanks and hope you read my question.

Question from JonasBro - What does CBOE acquisition of BATS mean for the future of SPYIX? Is it dead? Also an update please on VolDex and VIXUP / VIXDN?

CRYSTAL BALL

Last Week:

Ghost of Mark S - 9.99, Mark L. - 13.50, Russell - 17

This Week:

Mark S. - 12.5, Mark L. - 13.75, Russell - 13.3333

Volatility Review: VIX cash/futures finally connect: we've been wondering for the past few weeks whether VIX cash would rally to the future or the future would drop to the cash. We finally have our answer. Oh, and VXX is NOT VIX.

Volatility Voicemail: Listener questions and comments

Question from Bill Chace: Hi Russ. What indicator do you use to help determine future movements of VIX? And how reliable are they?
Question from Bobby: I've noticed moves in the currencies lately. Is this increased volatility good for premium sellers in currency options?
Question from Vegan: Do you use VIX as a relative strength indicator vs. ES? What tends to lead the dance: S&P or VIX?
Comment from Itzprav: VIX will be back to 11 next week - referring to headline "How high will the VIX get?"
Comment from Highlander: Yes, it's only $46 Trillion backing mortgages & loans for hundreds of millions of people. It'll be fine.
Question from LV87: Single name VIXes. What's up there? Can I actually buy Amazon VIX?
Question/comment of the week winner!!!!: dmcxkxjzpo
Commen from Kid Sinclair: When does your new album drop? :) I love your latest single "F**k a maintenance call" was that inspired from Brexit?
Comment from Mark Brandt: VIX reverse investment skew is a gold mine if you can see the big picture
Question from Billivanilli: I'm a bit confused. Why do so many people trade that 1x2 call spread in VIX? Seems like you guys discuss it on every show. Is it really that effective? What am I missing?

Crystal Ball: Wild prognostication

This Week:

Mark S: 9.99
Mark L: 13.50
Russell: 17

Last week:

Mark L: 12.25
Mark S: 12.75
Guest: 12.98
Russell: 12.95

Volatility Review featuring Mike Thompson, Portfolio Manager, Typhon Capital

What is up with VIX term structure? How is Typhon Capital working with this contango? Hint: reverse mullet, AKA Tellum.

Russell's Weekly Rundown

CBOE Holdings reports September 2016 trading volume: Total ADV Up 25% from August 2016, 3% from a year ago. Highlights: September Index options traded at CBOE and C2 had an ADV of 1.8 million contracts, up 24 percent from August 2016. SPX options ADV of 1.1 million contracts up 26 percent from August 2016.

New Study: CBOE and Fund Evaluation Group, LLC announced findings from a study of four CBOE strategy performance benchmark indexes designed to track the performance of positions in Russell 2000 (RUT) index options.

VIX Cash: Back below 13 handle. When might we see #Trumpocalypse? How would a Cubs World Series victory impact the VIX?

Volatility Voicemail: Listener questions and comments

Comment from AlphaJack: Cool piece in Barrons about XIV. Reminded me of what you guys always talk about with these inverse products and the roll risk. Short Term only! Buyer beware! Worth discussing on a show?
Comment from ThinkTankTrading: The VXX roll yield is a net neutral roll and the drag is from the rest of the holdings decaying down the curve. VXX roll is like trading a dollar for four quarters they are rolling notional values not equal contract amounts. If the roll yield caused the drag Barclays would be broke. 1/30th roll isn't the issue it's the 29/30 that's now decayed. https://sixfigureinvesting.com/2016/09/the-cost-of-contango-its-not-the-daily-roll/
Question from Jim Collins: Are transcripts available for Russell's interviews? (after last episode when talking about CBOE/RMC)

Crystal Ball: Prognosticating and speculating

Last week:

Mark L. - 12.6
Mark S. - 14.5
Russell - 13.70

This week:

Mark L. - 12.25
Mark S. - 12.75
Mike - 12.98
Russell - 12.95

Volatility Review: CBOE just concluded the Risk Management Conference in Europe. They will soon introduce the CBOE S&P 500 Smile Index. At the event, they released a new study of of four CBOE strategy performance benchmark indexes designed to track the performance of positions in Russell 2000 (RUT) index options, looking at various aspects of their performance over a 15-year period spanning 2001 through 2016. Russell gives a rundown of the new products coming your way, themes overheard and the event, and more.

What else happened in the market this week? Deutsche Bank debacle.

Russell's Weekly Rundown:

VIX Weeklys and harvesting volatility
Is the Deutsche Bank issue just a reissue of Bear Stearns from 2008?
Crude oil vol spiked to 45 earlier this week. Calls are finally springing back to life leading into the OPEC announcement
No one wants gold premium

Volatility Voicemail: Listener questions and comments

Question from Mort: My question is: In terms of SKEW, how do you think about the difference in CBOE SKEW and CSFB. At it's simplest, it appears CBOE is 30 day and CSFB is 3 month measure of demand for downside protection vs upside calls. Other than the difference in time-frame, how should one think about the two as indicators of market sentiment?
Comment from last week's show: What flavor would a $VIX slurpee be? @Emanuel_Wynne: Is worthless a flavor?
Options #QuestionOfTheWeek: How will the election impact $VIX? Are we heading for #Trump-ocalypse or #Clint-astrophe? Share your feelings.
- Spike > 20 - Blame Trump
- Spike > 20 - Blame Clinton
- No impact (12-14 range)
- Modest Increase (15-20)

Crystal Ball: Wild prognosticating

Last Week:

Mark L. - 11.60
Mark S./Andrew - 12.25
Russell - 13.40

This Week:

Mark L. - 12.60
Mark S. - 14.50
Russell - 13.70

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

VIX cash:
- Janet & Co. crushed vol. VIX cash back in the toilet, but futures are still rich
- 30-day HV: 11
- 30-day IV: 10
- VXX: Futures setting up for a VXX implosion
- VVIX: at 89, or 20 handles lower than last week
Russell's Weekly Rundown:
- 1000-lot VIX weekly trades creates a synthetic VIX collar
- Two-way action in the VIX Sep28 13 calls
The week in VIX volume:
- Monday: 546,000
- Tuesday: 661,000
- Wednesday: 727,000
- Thursday: 751,000
Crude
- OIV/OVX: 40. Same as last week
Gold
- GVZ: 13.73. Close to a 52-week low

Volatility Voicemail: Listener questions and comments

Comment from Jim Investor: Shortsighted market over focused on Yellen. Soon they eye Trump widening lead in battleground states
Comment from John King: Since #SPX has 15+ "non-standard" expirations/month VS 1 "standard" -isn't it time @CBOE truly standardizes the monthly?
Comment from Mark Brant: Sell VIX 2M CV (X+5) (X+9) daily thru settlement (regression). X=ATM. Risk 1% $4 daily. Sold today's SPX IB wide 4X every 10 points today! Dailies rock!
Comment from ThinkTankTrading: all right,- first my question gets on volatility voice mail, Next the world muhahahaha evil laugh.

Crystal Ball: In which the VIX giveth and taketh away

Last week:

Mark L. - 11.75
Mark S. - 12.50
Russell - 12.99

This week:

Andrew - 12.25
Russell - 13.40
Mark L. - 11.60

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

VIX Cash: High of 19.12 earlier this week. 30-Day HVOL: 11; 30-Day IVOL: 14
VVIX: Currently at 109 with a high of 116 this week

Russells Weekly Rundown:

VIX Options: A very active week. Mon - 951k, Tues - 1.3M!, Weds - 656k; Total 8.06m (5.62m Calls, 2.44m Puts)
Crude: OIV/OVX: 40 - Retreating from a recent spike up to nearly 46.
Gold: 30-Day HVOL: 10.7% - Near the bottom end of the 52 week range. 30-Day IV: 15% - Only in the 23rd percentile

Volatility Voicemail: Listener questions and comments

Question from Erik Leland - Saw VIX 1x2s going up this week. Is it that season again?
Question from JVac - What about a mini VIX option?
Question from TC - U.S. has VIX. Europe has VSTOXX. What is the Asian equivalent? Nifty VIX? It hardly seems comparable. Is there a Chinese or Japanese Vol product?
Question from CVortt3 - This guy says you should ignore VIX. Agree? Please discuss on Vol Views - http://etfdailynews.com/2016/09/16/heres-why-investors-should-ignore-the-vix/
Question from ThinkTankTrading: Can you ask Russell Rhoads why he blocked me? That is my question for your show. Thanks in advance

Crystal Ball: Reckless prognostication

Where will the VIX close this week:

Mark L. - 15
Mark S. - 15.75
Russell - 16.5

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

VIX Cash: Back above 12; 30-day HV - 5; 30-day IV - 11
VVIX: 85

Russell's Weekly Rundown:

Interesting trade in the weekly VIX options.
VIX Options: Truncated trading week
Crude Oil: Mixed signals this week. WSJ: Crude stock drop sparks rally.

Volatility Voicemail: Listener questions and comments

Question from Joshua Shealy: Thanks so much for all that you guys do! Sorry if this is a novice question. I know that Delta is not literally the % chance of expiring in the money, but more so the rate of change for a $1 movement in the underlying. I noticed today (8/26/16) looking at VIX Dec Calls that the strike closest to .5 Delta is the 20 strike, a long way from ATM. I usually associate near .50 Delta with being near ATM. Is this just a nuance of VIX, or am I missing something bigger? Thanks!
Question from Dr. Larry: Hi Mark. Andrew mentioned buying stocks and buying covered long term puts when IV is so low. I wonder your opinion on my favorite low Vol strategy: Buy ETFs, preferably non-correlated underlyings and some with dividends. Example: DIA, SPY, TLT, GLD, multiple sectors, foreign markets… I then buy the longest dating LEAPS available with strikes 5% under current price of underlying. I then sell covered calls every 30-60 days that are one to two strikes or 3-5% or more, out of the money. Management:

ETF stays same, roll short calls out.

ETF goes up a little, roll short calls up and out.

ETF goes up a lot, called away, re-establish covered call, roll leap up.

ETF goes down a little, roll short calls same or down strike assuming still above leap strike.

ETF goes down a lot, take profit on leap, re-establish lower strike leap, roll short call down but above leap strike

1-year later, roll Long leaps out one year if IV still low. Close positions if IV is high and wait for lower iv again.

I add to positions monthly by buying diagonals, long LEAP, short at the money call and either get assigned on short call, or roll short calls. If and when IV goes up my long puts make more or lose less, and I can sell more call premium which covers the entire price of my long puts after a few rolls. Sorry for long email. I hope you can discuss on the air. While I listen to almost all shows I occasionally miss due to work obligations. Can you alert me of when it airs if you discuss this? Thanks. Dr. Larry in NYC - PS: tell Sebastian he never returned my call.
Question from Joneil: Heard someone talking about the VVIX/VIX ratio. Did not make much sense to me. Is that something you guys track?

Crystal Ball: Wild and reckless prognostication

Last week:

Mark L. - 11.75
Mark S. - 12.50
Russell - 12.99

This week:

Mark L. - 14.5
Mark S. - 13
Russell - 17

Volatility Viewpoint: Today we have a very special guest, Ricardo Manrique, Executive Director of Index Business Management and Derivatives at MSCI.

He discusses:

An overview of MSCI
Inroads into options and volatility, especially through CBOE partnership
Meeting investor demand for products related to international equities
How does Russell incorporate these indexes into his analysis?
Will there be futures listed on the idexes?
Domestic versus international companies
Listener questions

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

VIX cash: Remained above 13 most of the week primarily due to impending non-farms.
30-Day HVOL: 5; 30-Day IVOL: 12
VIX Futures: Oct premium 3.3. points to cash, down from 5 points a few weeks ago.

Russells Weekly Rundown

How are the Monday SPX weeklies fairing?
VIX Options: Mon: 192k, Tues: 205k, Weds: 276k, Thurs: 309K; Total 6.86m (4.80m Calls, 2.06m Puts)
Crude Oil: Crude taking in on the chin again this week.
OIV/OVX: 41

Crystal Ball: Predicting and prognosticating.

This Week:

Mark L.: 11.75
Mark S.: 12.50
Russell: 12.99

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

VIX Cash: Spiked over 14 this week thanks to Yellen & Co.
What will remain of vol after Yellen!? 21-day S&P realized Vol as of Wed. was 4.92.
Buy volatility ahead of a jam-packed 'Policy Month,' says Bank of America/Merrill Lynch.
VIX Futures: Futures extremely rich with significant premium to cash. Oct future $5 premium to cash last week.
VVIX: 85.43

Russells Weekly Rundown

Featured VIX Weekly trades: An anemic volume week: Mon., 362k, Tue., 415k, Wed., 615k, Thu., 290k, Total 6.43m (4.58m Calls, 1.85m Puts)
Earnings Volatility: HPQ
Paper bought about 25,000 HPQ Sep. 16 calls for $0.10. Stock down post-earnings. Sep. 16 calls now offered at $0.02, still 25k open on the strike.
Crude Oil: USO = 10.95
OIV/OVX: 37: Less than half of peak levels back in Feb.
USO Skew: Still bid toward the puts, with the exception of Jan 17.
Gold

Crystal Ball: Where will the VIX close?

This week:

Russell - 11.90
Andrew - 12.10
Mark L. - 11.50

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

VIX Cash: Spiked to nearly 14 this week before dropping back below 12.
VIX Futues: Crazy term structure a hot topic last week.
Follow up question from JJK: Thanks for discussing my question on the show last week. If anything it seems like the futures premium to cash has increased with futures premium to cash has increased with Oct future 5 handles above cash. What am I missing? Earnings season is done and FOMC in rear view mirror for now. Is this just pricing in unease over current market valuations?
VVIX: 82.83. Well off levels from last week.

Russell Weekly Rundown

How was the first week for Monday SPX Weeklies?
VIX Options: Mon 501k, Tues 526k, Weds 570k, Thurs 481k, Total 5.40m (3.72m Calls, 1.68m Puts)

Options #QuestionoftheWeek: $VRX $26.66 up 7% Monday. IV30 is 63. HV30 is 99.

Looking out one month would you rather

Buy Calls?
Buy Puts?
Sell Premium
Sill not touch $VRX

Crude Oil: OIV/OVX 35: Less than half of peak levels back in February.

Volatility Voicemail: Listener questions and comments
Comment from Mark Brand: Really excited about SPX Mondays! Like TGM said on VV, great weekend risk trade or fade!
Question from James Aldo: Re: Circuit breakers talk last week. Is i correct to assume that circuit breakers that are too tight can actually increase volatility? Or is that a myth?

Crystal Ball: Where do the hosts think VIX will close this week?

Mark L.: Was 11.25 last week, sticking with it.
Russell: 11.75
Ghost of Mark S.: 7.7

Volatility Review: A look at the week from an options perspective.

VIX cash: Hit 52 week low this week: 11.02
VIX futures: Question from JJK: The Sep VIX futures are trading over $3 premium to cash. Seems pretty steep. Is the market pricing in a big sell-off in the near future?
VVIX: Currently at 96.78
VIX Options: Mon: 660k, Tues: 765k, Weds: 635k, Thurs: 603k; Total 7.36m (5.10m Calls, 2.26m Puts)
Crude Oil
Gold

Volatility Voicemail: Listener questions and comments

Question from Service Dog: Do stock market circuit breakers have a significant impact on market volatility?
Question from MoneyPenney: How does VXX work?

Crystal Ball: Where will the VIX close?

Last week:

Mark L.: 11.15
Mark S.: 10.25

This week:

Mark L.: 11.25
Mark S.: 11
Russell: 13

Volatility Review: Breaking down the week from a volatility perspective

VIX cash: 11.39; hits a 52-week low.
VVIX: 88.14. Back below 100, but still elevated.

Russells Weekly Rundown

VIX Options: Moderate volume this week.
Mon: 547k, Tues: 522k, Weds: 367k, Thurs: 512k; Total 6.69m (4.44m Calls, 2.25m Puts)
Earnings Volatility: TSLA stock at $225 on earnings. ATM straddle approx. $14.70 - 6.5%. Open unchanged. Closed up approx $5. Missed by nearly $10.
Crude Oil: OIV: 42, OVX: 42

Volatility Voicemail :Listener questions and comments

Question from NTC34: Heard you guys on #OptionBlock discussing using options with stock to speculate on volatility. Can you explain that? How does buying a call and selling stock give you a pure volatility position?
Question from AuntH: What is up with RVX?

Crystal Ball: Spinning the wheel of where the VIX will close.

Last week:

Russell: 13.05
Andrew: 12.40
Mark L.: 11.75

This week:

Mark L.: 11.15
Mark S.: 10.25
Russell: 12

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

VIX Cash: 12.39
VVIX: 89.33. Back below 100, but still elevated

Russell's Weekly Rundown

VIX Options: A light options week
Mon: 625k, Tues: 415k, Weds: 534k, Thurs: 475k; Total 6.07m (4.17m Calls, 1.91m Puts)
CBOE quarterly profits jumped 13.6 pct on increased volatility
Options traders are feeling good about Alphabet shares.
Crude Oil: OIV: 42.91; OVX: 42.33

Volatility Voicemail: Listener questions and comments

Question from DK from DC: What is the difference between the front month VIX future and the VIX cash?
Question from Big Jim Wheeloff: Why are options so damn expensive? At this rate I will go broke hedging my 401k.

Crystal Ball: VIX predictions

Last week:

Mark L.: 11.5
Andrew: 9.5
Russell: 17.35
Bill Luby (Guest from last week): 12.71

This week:

Russell: 13.05
Andrew: 12.40 (with an 11-handle dip)
Mark L.: 11.75

Volatility Review, featuring special guest: Bill Luby from VIX and More.

VIX Cash: 12.18; Earnings season and the Fed not injecting substantial volatility into the marketplace
VIX Futures: Still surprising premium to cash
VVIX: 88.42. Back below 100, but still elevated

VIX Options: A light volume week across the board in all products, including VIX

Mon: 557k, Tues: 774k, Weds: 338k, Thurs: 566k, Fri: 163k
Total 4.95m (3.41m Calls, 1.54m Puts)

Earnings Volatility: Big names on the earning docket this week:

AT&T (T)
Chipotle Mexican Grill (CME)
E*Trade Financial (ETFC)

Crude Oil:

OIV: 39
OVX:39

Volatility Voicemail: Listener questions and comments

Question from AL08: IV or HV. Which is most important? Which should I pay attention to?
Question from Jack King: What is the primary driver of volatility, skew puts or calls?

Crystal Ball: Guess the closing price of the VIX

Last Week:

Mark L.: 13.25
Andrew: 12.25
Russell: 13.51

This Week:

Mark L.: 11.5
Mark S.: 9.5
Russell: 17.35
Bill: 12.71

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

VIX Cash: 12.82, lower than expected.
VVIX: 86, back below 100 but still elevated.

Russells Weekly Rundown

VIX Weeklies updates
VIX Options: Mon: 461K, Tues: 233K, Weds: 475K, Thurs: 905K
Total 8.12m (5.46m Calls, 2.67m Puts)
Barclays breaks down best Vol trades in June.
Crude Oil
Gold

Volatility Voicemail: Listener questions and comments

Question from Vegas: Regarding VIX, we were at all-time highs in ES when we made the top of the yearly range and VIX was at a low level around 10. Now we're higher and VIX can't break 13.50 to the downside. What’s the deal?

Crystal Ball: It's time for everyone's favorite game, where will the VIX close?

Last Week:

Mark L.: 15
Mark S.: 13.5
Russell: 16.27

This Week:

Mark L.: 13.25
Andrew: 12.25
Russell: 13.51

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

VIX Cash: About 15, lower than predicted.
VVIX: 90, back below 100, but still elevated.

Russells Weekly Rundown:

Weekly Futures
VIX Options: A light post-holiday week. Tues: 585k, Weds: 437k, Thurs: 386k, Total 7.15m (4.54m Calls, 2.62m Puts)
Earnings Volatility
VRX: Bullish options bets surge on Valeant
Crude Oil: Back in the toilet. OIV: 43, OVX: 43

Volatility Voicemail: Listener questions and comments

Question from Engstromm: Can I trade OVX?
Question from StGermain: When is it preferable to use VIX Options and when is it better to use VIX Futures?

Crystal Ball: Wild prognostication ensues

Last Week:

Mark L.:19
Mark S.:15
Russell: 18

This Week

Mark L.: 15
Mark S.: 13.5
Russell: 16.25

Volatility Review: Brexit, Brexit, Brexit!!!

Weekly Options Insider Poll - Do you think the UK will make a Brexit from the EU?

Yah - 24%
Nah - 43%
I am sick of Brexit - 33%
Volatility Voicemail: Listener questions and comments
Question from Tronghi: Detailed thoughts on VIX futures curve as of June 15.
Question from JVon: What strategies don't work for the short VIX ratio call spread.
Question from BB Wins: Can you give me an example of good strikes for a VIX 1-by-2 ratio spread if I use open interest as an indicator?

Crystal Ball: Where will the VIX close before the long holiday weekend?

Russell: 12
Mark S.: 26
Mark L.: 21

Volatility Viewpoint: Today we are joined by Jack Fonss, CEO of Accushares. He discusses:

An overview of VXUP / VXDN
What is the current affiliation Prof. Whaley has with Accushares?
Recent changes and the thought process behind them.

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

VIX Cash:

A crazy week for VIX.
Vol soared on Monday.
Volatility still very elevated post-FOMC

Russells Weekly Rundown:

VIX Options: Total 5.62m (3.73m Calls, 1.89m Puts)

Crystal Ball: It's time for everyone's favorite game: Where will the VIX close on Friday?

Last week:

Russell: 16.5
Mark S.: 18.01
Mark L.: 15.5

Next week:

Russell: 18.5
Mark S.: 15
Mark L.: 17

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

VIX Cash: High: 16.27 today. VIX remains somewhat muted heading into FOMC next week and Brexit the following week.
VIX Futures: All-time record high OI for VIX Futures: 501,835 on June 7
VVIX: Creeping back up toward the high of recent range. VVIX: 90.
VXX: 13.20
XIV: 32.56

Russells Weekly Rundown

VIX Options: Mon: 732k, Tues: 552k, Weds: 472k, Thurs: 585k.
Total 7.85m (5.75m Calls, 2.10m Puts)
Soybean Vol: Still crazy town in soybean volatility.

Volatility Voicemail: Listener questions and comments

Question from 777: Does the many VIX tradable products influence the underlying index to any great extent? Is the tail waging the dog?
Question from Skiball: Where do you see the VIX going and how will it impact stock picking in this market?

Crystal Ball: Russell finally gets the win by being the least-wrong with the 15.25 guess.

Where will the VIX close on Friday? Don't discount FOMC, Brexit.

Russell: 16.5
Mark S.: 18.01
Mark L.: 15.5

Volatility Viewpoint: Today we are featuring Taylor Lukof, CEO of ABR Dynamic Funds.

ABR recently introduced their new "smart volatility" mutual fund: The ABR Dynamic Blend Equity and Volatility Fund (ABRVX).

What is it?
How does it work?
What next for ABR?

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

The impact of Non-farms on volatility.
VIX Cash: High of 15.25 on Weds - 13.63 today.
VVIX: 79.54 - near the low end of the recent range.
VXX: 13.09
XIV: 32.82

Russells Weekly Rundown

Russell Twitter picture is here
VIX Options: Tues - 655k, Weds - 300k, Thurs - 549k, Total 6.79m (4.85m Calls, 1.94m Puts)
Crude Oil: OVX/OIV: 36.64 - dramatically lower than earlier in the year.

Volatility Voicemail: Listener questions and comments

Question from Gabe - How can something like the VIX be technically oversold?

Crystal Ball: It's time for everyone's favorite game "Where will the VIX close?"

Last week:

Mark L. - 13.50
Andrew - 12.95

This week:

Taylor - 14.25
Mark L. - 13
Russell - 15.25
Mark S. - 14.25

Volatility Review: A look at the week from a volatility perspective.
VVIX: 77.50 on the low end of the recent range.

Russells Weekly Rundown:

VIX Options: Mon - 206k, Tues - 560k, Weds - 592k, Thurs - 266k. Total 6.34m (4.55m Calls, 1.78m Puts)
XIV: Hit 29.98 this year - the highest level of the year. Relative strength above 60 and rising which points to continued complacency in the marketplace.

Crystal Ball: In which we predict the closing price of VIX.

Andrew - 12.95
Mark L. - 13.5

Volatility Review: What happened this week in volatility?

Much ado about nothing?
Vol higher, but range is another story
Why does VIX sometimes understate volatility?
Why aren't people using weeklies strategically?
Russell channels Columbo
Volume and OI low as nothing looming on the economic calendar
What will the Fed to, and when?
Headlines versus revisions
RUT = growth; SPX = value?
Why hasn't OVX dropped given the underlying?

Crystal Ball: Where will the VIX close on Friday? Russell: 14.75. Memorial day is coming, that means an extra headwind is coming our way. Mark S.:Below 14 at 12:30 central time, but 15 at 3:00 pm central time. People taking things easy, with a big vol dump on the 25th and 26th.

Volatility Views 204: Live - to Tape - from OIC 2016

This time, we are coming to you live (to tape) from OIC 2016, but fear not...Russell Rhoads was there, too.

Volatility Review: Red on the screen means green for the VIX. 16 will be over/under for high/low on VIX going forward. VVIX is back above 90, though, and that's pretty high. Earnings season starting to wane. Slow decline of ESPN weighing on DIS earnings. Shake Shack.

Russell's Weekly Rundown:

May 11 auctions, May 18 expiration
Why is VXX more successful than other, similar products?

Crystal Ball: Wild prognosticating. Russell offers the WILD idea of predicting May VIX settlement.

Russell: 15.27
Mark: 14.70

Volatility Review: CBOE Livevol launches new data shop website: datashop.cboe.com. Non-farms and volatility: VIX can be deceiving as steep curve shows uncertainty. New VIX ETFs: VMAX/VMIN.

Russells Weekly Rundown:

VIX Options: A light volume week overall: only one day even remotely exceeding ADV. Total 7.63m (5.58m Calls, 2.05m Puts)
Earnings: Last week premium buyers won the day, this week premium sellers are in charge.
ATVI - $34.60, ATM straddle $2.45, approx. 7%

Question of the Week Earnings Straddle Battle edition: Which will be more accurate TSLA $20 (8%) or BABA $4.70 (6%) ?

26% Tesla
31% Baba.
17% Sell both!
26% Buy both!

Volatility Voicemail: Listener questions and comments

Question from Topcat - Are options less risky and volatile than contracts for difference?
Comment from Mark Brant - Since VIX inception, VIX trends up from July to Oct. every year! Just like seasonality in grains!Sweet! @Options ATO: Selling 1k July 18 Puts to buy 2k July 29 Calls for even money! Really liking this play!

Crystal Ball: It's time for everyone's favorite game: Guess where VIX will close. Here are the predictions from when we last met:

Russell - 18
Andrew -15
Mark L. - 15.5

And for this week:

Russell - 15.5
Mark S. - 13
Mark L. - 14

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

VIX cash: Creeping back up - a crazy day, almost all of ourpredictions were valid today.

Russells Weekly Rundown:

VIX Options: A light volume week overall - only on day evenremotely exceeding ADV. Lots of put love on Friday: Total 7.26m(5.41m Calls, 1.85m Puts)
Earnings Volatility: A bad time for premium sellers. Most ofthe major names reporting the past few weeks have blown throughtheir straddles - AAPL, MSFT, GOOG, FB, AMZN

Volatility Voicemail: Listener questions and comments

Comment from Mark Melin - @RussellRhoads Talk about"anticipatory" nature of VIX futures. I have known several fundmanagers to play this as mean reversion
Comment from John K. - One of the Tyler Durdens @zerohedge is a“Credit Derivatives Strategist” @Options: Discuss.
Question from R_Chang - The VIX is hovering at 2016 lows. Isthis a good time to buy VIX calls to profit from a potential roarback into the 20s or beyond?

Crystal Ball: It's time for everyone's favorite game "Where willthe VIX close?!"

Last Week:

Russell - 16
Mark S. - 13.5
Mark L. - 14.5

This Week:

Russell - 18
Andrew - 15
Mark L. - 15.5

Volatility Review: The VIX has traded below 20 for 37 straight days, the longest such streak in 13 months. The gauge slid 2.2 percent to 13.64 at 9:48 a.m. in New York.

Russells Weekly Rundown:

VIX Options: A strong volume week - particularly Wednesday. Total 6.83m (5.32m Calls, 1.51m Puts)
SEC extends test period to curb U.S. market volatility
Big Earnings Week: GOOG, Goldman, INTC, IBM, MSFT, NFLX, SBUX, Southwest, United Airlines, YHOO.
Crude Oil: OIV/OVX - 43.50, almost touched 80 back in mid-February.
Gold: GVZ 17.90 - well off recent highs.

Crystal Ball: What are the VIX predictions? To review, last week:

Mark L. - 15.5
Mark S. - 14
Russell - 17

This week:

Mark S. - 13.50
Russell - 16
Mark L. - 14.5

Volatility Review: VIX got crushed, VIX IV did not. CBOE announced it has created a series of 13 "Buffer Protect Indexes."

Russells Weekly Rundown:

VIX Options: A strong volume week - particularly Wednesday (1.08M). Total 8.52M (6.46M Calls, 2.07M Puts)
Trading hours for RVX Futures expanded - new start time 7:30am CST.
Earning volatility this week: Alcoa, Citigroup, JP Morgan Chase, Bank of America, Delta Airlines
Crude Oil: OIV/OVX - up 9% to $50.50. WTI Crude - 3% into oil meeting.
Gold: GVZ 17.83 - well off recent highs.

Volatility Voice mail: Listener questions and comments

Question from LosAngelino: What happened to the single name VIXes? You guys talked about them on the show years ago for names like Apple and Amazon. But I do not see them trading anywhere. Were they ever listed?
Question from Nick C. - Do OTM VIX calls suffer from the same inflated volatility premium as S&P 500 OTM puts? If so does it not make them both prohibitively expensive to use as a hedging vehicle?

Crystal Ball: Last episode the VIX guesses were:

Mark L. - 14.5
Russell - 17
Mark S. - 15.5

Big earnings week next week: GOOG, Goldman, INTC, IBM, MSFT, NFLX, Southwest, United Airlines, YHOO

Volatility Review: Russells Weekly Rundown

VIX Options: A moderate volume week.
- M: 266K
- T: 400K
- W: 572K
- Th: 614K
- Total 7.45m (5.73m Calls, 1.72m Puts)
Crude Oil: OIV/OVX - 46, almost touched 80 back in mid-February.
Gold: GVZ 19.32 - Well off recent highs.

Volatility Voicemail: One giant listener question.

Question from Jeremy - Hi Guys, This show is a great resource and has taught me a lot throughout the years. I was listening to the most recent show on March 11th "Uncovered Covered Calls and IRA Options Debate" and I wanted to write in regarding the discussion on dynamic hedging of a short option position. First, let me quickly introduce myself to provide some context.

My name is Jeremy and I am in the final year of my PhD in computer engineering with a MS in applied mathematics and statistics and a BS in math. I have spent the past 4+ years researching for the NASA Ames Research Center. My PhD research focuses on the modeling, simulation and analysis of stochastic processes and the application of optimization algorithms to the air traffic control system. Here is a link to my LinkedIn to verify my academic record and list of publications.

In addition to my PhD research, I am working on starting a fund with two other academics. The fund specializes in delta neutral trading and has developed two tools to execute volatility premium harvesting strategies. I provide a short description of the tools below. In particular, the second tool is directly related to the dynamic hedging of a short option position and the discussion on the previous show.

1) Our stochastic volatility tool estimates volatility using high-frequency data, such that the microstructure noise is directly accounted for. The tool uses a Bayesian MCMC algorithm to provide estimates of the volatility where estimates are consistent across all sampling time scales. Moreover, the tool provides samples of arbitrarily large number of volatility paths though time.

2) Our stochastic optimal control tool to hedge a short option position (or a combination of short option positions). After the option is sold, the risk can be controlled by effecient delta hedging. This can be done by calculating the optimal price boundaries to trigger a hedge in the underlying asset. Moreover, these boundaries are informed by the dynamics of the volatility as calculated from our stochastic volatility tool.

The strategy that the Greasy Meatball provided on the show to hedge the short option at the close of every trading day is a good start. The problem with the strategy is that this approach is a sub-optimal timing mechanism. Many days you will hedge at the close when you don't need to, leading to increased trasaction costs. Instead, this problem should be formulated as an optimization problem that we can solve to provide the best strategy.

A little background on the academic literature. In an ideal world under the Black Scholes model with no transaction costs the options can be hedged perfectly. In the presence of transaction costs, a continuous hedging strategy is prohibitively expensive. Hence, it is impossible to perfectly replicate the option in this setting when there are transaction costs and, as a result, trading in an option involves an essential element of risk.

How to optimize with respect to this risk and uncertainty has been a topic of research throughout the economic and control literature. There have been many different strategies throughout the years. Briefly I will present one strategy which minimizes the standard deviation of hedging error when compared to many, if not all, of the other strategies.

The attached paper was published in 2009 in the Journal of Economics Dynamics and Control by a Professor of Statistics at Stanford. As can be found in the paper, the problem of option hedging in the presence of proportional transaction costs can be formulated as a singular stochastic control problem. The authors approach is based on minimization of a Black–Scholes-type measure of pathwise risk, defined in terms of a market delta, subject to an upper bound on the hedging cost. The approach can also be applied to solve the problem of maximizing the investors utility at the terminal time of the option contract.

The main idea of the attached paper is to calculate price boundaries that trigger a hedge in the stock. Moreover, the number of shares that should be held when we reach the boundary is also calculated. Attached to this email is a screen shot from the paper that illustrates these price boundaries. Without getting into too many details, the top figure illustrates the price boundaries for an option with "1 unit of time" left (think 1 month). And the bottom figure illustrates the price boundaries for an option with "0.25 units of time" left (think 0.25 months). As can be seen in the figure, the shape of these boundaries changes with respect to how much time is left to expiration.

This email is most likely too long so I will stop my explanation here, but I would love to continue this discussion with you guys. If you are interested in learning more about the stochastic optimal control or the stochastic volatility tools me and my fund have developed please ask. In particular, I can provide more detail on our stochastic control and how it is an enhancement of the control that is developed in the attached paper. The key difference being that their tool assumes a constant volatility over the time horizon, whereas our tool allows for the volatility to change as a function of time.

I hope to hear your thoughts and get any feedback you may have! Best, Jeremy

Crytstal Ball: Where did we think VIX would be?

Two episodes ago: Russell - 15.5/8, Mark S. - 14.25, Mark L. - 15
Last episode: Andrew - 13.01, Mark L. - 12
This week: Russell - 17, Mark S. - 15.5, Mark L. - 14.5

Volatility Review: Nonfarms and volatility.

Looking back on Q1:

VIX High - on Jan. 20, Low - 13.06 on March 30, VVIX High - 121.15. VVIX Low 77.29. The great crushing - VIX Cash falls 50% in about a month.
Did the VIX fall too far, too fast?
VIX Options: A fairly light volume week. Total 6.85m (5.26m Calls, 1.59m Puts)
Crude Oil: OIV/OVX - 46
Gold: GVZ - 18.50, well off recent highs.

Volatility Voicemail: Question from ChaChing - How does last month's VIX backwardation streak stack up to the run above 20 last year?

Crystal Ball: Where do the hosts think that VIX will close on Friday? Andrew: 13.01, Mark throws caution to the wind and says 12.00.

Friday may have been a trading holiday, but you still need Volatility Views, right? We dug through the archives to bring you some of the best of Vol Views. This episode was posted in November, 2015.

Volatility Review: Everyone goes to Boca and volatility falls out of bed. Vol of vol coming in as well, VVIX: 84.

Russells Weekly Rundown:

VIX Options: A fairly strong volume week.
Thurs: 909k, Weds: 675k, Tues: 704k, Mon: 573k, Total 5.30m (4.02m calls, 1.28m puts)
Crude Oil: OIV/OVX - 46, about 49 today, almost touched 80 back in mid-February, multi-year high.
Gold: GVZ 18 - well off recent highs. GVZ - peaked around 28 back in mid-February - last hit these levels in June 2013 - so nearly 3-year high.

Volatility Voicemail: Listener questions and comments

Question from George K. - What is the thought process regarding the new SPYIX and hedging? Can you hedge it with VIX Futures?
Question from BJLane - VIX vs. RVX - Which performs better for call verticals? Which pops better when it hits the fan?
Question from Jacro - Why no volume in RVX?

Crystal Ball: VIX Predictions:

Russell - 15.5/8
Mark S. - 14.25
Mark L. - 15

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

VVIX - 95
Earnings volatility: The season is winding down - except for Dollar General

Russells Weekly Rundown:

VIX Options: A fairly strong volume week. Total 7.49m (5.54m calls, 1.95m puts). VIX faces challenge from trading robots unleashed by bats
Crude Oil: OIV/OVX - 52. WTI skew chart
Gold: GVZ 23.36 - Elevated

Volatility Voicemail: Listener questions and comments

Comment from Chic9 - Selling puts = blowout!
Question from Nic s. - Why was there such an emphasis on selling puts at RMC? Is that not an old strategy?
Question from JV - Can you explain the free cash flow yield theory and why it would help improve strike selection for selling puts?
Question from Labeach2 - Ratio verticals work in VIX what about SPX and SPY - sell 1 ATM buy 2 OTM to hedge and spec. No studies on that? Seems better than just blasting away ATM puts?
Question from JPeach - I really enjoyed the wrap up episode from the CBOE conference. I thought the discussion about the pension fund manager panel was particularly interesting. Two questions: 1. What percentage of pension funds out there use options in some capacity? 2. Is CBOE going to make that panel available to the public?

Crystal Ball: Where will the VIX close on Friday?

Russell - Above 25
Mark S. - Low 20s
Marl L. - 23

Today, Mark is joined by Mark Sebastian and Russell Rhoads from Florida, where they discuss their thoughts, ideas, and take-aways from the CBOE Risk Management Conference. To get the details on what was discussed at RMC, please visit the website.

Some key take-aways:

Put selling. Put selling. Put selling
Put selling versus bond ownership
The intersection of macroeconomics and volatility levels
Getting past the gatekeepers
Tax treatments
and more

Volatility Review: VIX got ahead of itself breaking 20 based on bond hedge cost.

Russells Weekly Rundown:

Wednesday weeklys!

VIX Options:

Fairly light volume week.
Thurs: 488k, Weds: 495k, Tues: 409k, Mon: 735k.
Total 5.55M (3.89M calls, 1.66M puts)

Even more CBOE studies!
Crude Oil
Recent rumors of supply action driving crude.
Volatility remains on low end of recent elevated range. OIV/OVX - 67.
Gold: GVZ 23.36 (elevated)

Volatility Voicemail: Listener questions and comments:

Options Question of the Week: No love for more options exchanges - Twitter poll has 60% of respondents saying "Heck no to more exchanges!!!"
Question from George T. - What is the longest stretch of backwardation in VIX history?

Crystal Ball: Vol Predictions: Russell - higher than everybody - above 25. Mark S. - low 20s. Mark L. - 23

Volatility Review: VIX. Contago has returned - VIX out of the red zone. CBOE Russel Study - Analyzing Russell 2000 Index options-based benchmark indexes designed to provide enhanced yields and risk-adjusted returns.

VIX Options: A strong start to the week after the holiday. Total 4.95m (3.39m Calls, 1.57m Puts)
Crude Oil: Recent rumors of supply action driving crude. Volatility remains on low end of recent elevated range. OIV/OVX - 67
Gold: GVZ 25.67 - Extremely elevated. Gold rallying hard in recent sessions.

Volatility Voicemail: Listener questions and comments

Option Insider Question of the Week: How Many U.S. Options Exchanges Do We Need?

5% - 14 is perfect!

30% - The more the merrier.

60% - Make it stop!

5% - Other

Question from George K. - What typically happens to volatility around a presidential election?

Crystal Ball: The celebrations for Chinese New Year are over. Back to work!

Where will VIX be next week?

Sebastian: 26 on Thursday, 24.5 on Friday.
Russell: Low 19s
Mark: 21.50-22

Who will win? Tune in next week to see

Volatility Review: Earnings Volatility: TWTR and TSLA. Presidents Day holiday weekend coming out aggressively.

VIX Options:

A strong volume week. 1.2M contracts Thursday.
Total 6.87m (4.65m Calls, 2.22m Puts)
What is going to goose the VIX?

Crude Oil:

Volatility remains elevated - Crazy OIV spike on Weds, over 100.

Gold:

GVZ 28.37 - extremely elevated!

Volatility Voicemail: Listener questions and comments

No love for daily options - Twitter poll has 40% of respondents saying "heck no" to dallies!
Question from Hot Emini - There is a big disconnect in retail that Theta is all. But is vega not the king greek for pros? What about gamma? where does that fall in the mix?

Crystal Ball: Highs in VIX?

Russell - 25?
Mark S. - 29/30?
Mark L. - 23/24

Volatility Review: CBOE to list SPX Wednesday-expiring weeklys options. CBOE to begin overnight dissemination of CBOE Volatility Index (VIX).

VIX Options: Total 5.81m (3.93m Calls, 1.88m Puts)
Earnings Volatility: LNKD after the bell: ATM straddle = $22, approx. 11.5%, after-hours move approx. $50.
Crude Oil: Wall St. fluctuates as equities track oil prices. Is oil driving the stock market? And should traders care?

Volatility Voicemail: Listener questions and comments

Question from GBL - Stock splits are seen to be greatly beneficial to options volume. But do they also decrease volatility, which should hurt options trading?

Around the Block: Prognosticating. Wild and reckless prognosticating.

Volatility Viewpoint: VIX outside of "Red Zone" indicates no recession, Goldman says. The Goldman Sachs analysis shows the VIX is currently in a “low and rising” phase, which tends to last about two months on average.

VIX Options: Massive spread on Thursday - Paper buys Mar 27/35 vertical. Total 4.82m (3.15m Calls, 1.67m Puts)
Earnings Volatility: AMZN: Bulls dominate Amazon options as earnings loom.
Crude Oil: Talk of Saudi/Russian oil deal on production lifted markets earlier this week. OIV: 64. OVX: 63

Volatility Voicemail: Listener questions and comments

Question from Andrew T. - Vega is pretty straightforward but is Gamma really a second-order Greek since it measures the rate of change of another Greek?
Question from TBig - You guys always talk about VIX futures term structure and contango impacting products like VXX. But does the same not apply to USO and the contango in the crude futures? What about backwardation in both products - how does that impact ETFs?

The Crystal Ball: Reckless prognosticating

Volatility Review: Another volatile week - volatility still readily apparent in the marketplace.

VVIX: 109
VIX futures
Russell’s weekly rundown: What weekly VIX options activity caught your eye this week?
VIX options: 20,000 VIX Feb 20 puts (expiring 2/17); VIX feb30/40 call spread trades (expiring 2/17) 18,500 mid-market; total 3.84m (2.55m calls, 1.28m puts)
Crude oil: Oil rose from its lowest close in more than 12 years as investors tried to pick a bottom after government inventory data. OIV: 66; OVX: 66

Volatility Voicemail: Listener questions and comments

Question from Pick6 - The VIX is mean reverting with a long-term mean around 20. Does that mean reversion quality make it a good candidate for selling iron condors and iron butterflies?
Comment from Envigon - Steak or no steak? What’s the deal?

Crystal Ball: Waiting on rate hikes until Europe/China/Japan lifts off the gas pedal. How many times will the Fed raise rates this year? Sebastain sets the over/under at 1. Russell says it will be zero. Mark says don't count out Q4, but is leaning towards zero. Jared says it will be two. Is there more steak at stake?

Volatility Viewpoint: Another volatile week with volatility still readily apparent in the marketplace. Review of Russell Rhoad's article Five Volatility Market Takeaways from 2015, CBOE meeting takeaways; SPX weeklies attract more retail - not surprising; VIX options ADV down 9% from 2014, VXST vs. VIX Weeklies - Many institutional clients had to treat VXST like a new product, receive compliance approval, adopt new systems, etc., that complicated adoption by end users.

Volatility Voicemail: Listener questions and comments

Question from Nick B. - Hello mark and greetings to the team on Volatility Views. I very much enjoy your program and have learned much from you and your guests. I have two questions for you guys to mull and (hopefully) answer on a future episode. 1) Do you guys use trading days or calendar days when calculating volatility? 2) Does it seem logical to add some sort of daily volatility product to the VIX universe? The weeklies do well and most spot VIX products have failed but a daily VIX option would track the future/cash fairly tightly. Off topic p.s. - Are you guys as caught up in the making a murderer show as I am?

Crystal Ball: Wild, reckless prognostication.

Volatility Review: Looking back at 2015.

Good to be in the Volatility & Index business - overall index volume only down 1% in 2015.
VIX Futures: Trading volume in VIX futures also set new total volume and ADV records for a sixth straight year in 2015.
Five Volatility Market Takeaways from 2015:
1. VIX Average Closer to Historical Norms
2. Russell 2000 Volatility Was Relatively Low
3. SKEW High for the Second Year
4. VIX Backwardation Lives!
5. Long and Short Volatility ETP Performance
VIX Cash: Up 4.40 yesterday - 21% - got as high as 25.86 on Thursday. VIX Options
Total 4.93m (3.54m Calls, 1.39m Puts)

Volatility Voicemail: Listener questions and comments

Question from TCruz - Will we ever see a daily VIX option?
Question from Vin - Love Options Insider Radio - been mainlining Volatility Views. You always talk about the lack of VIX put volume on that show. Is there a particular month that is most attractive for VIX put buyers?

Crystal Ball: Reckless prognosticating

Originally posted July 20th, 2015

Volatility Review: Today's guest is Mike Thompson, Typhon Capital

VIX Cash: An apocalyptic week for VIX - Largest 5-day drop in the product history.
VVIX: 85.55 - Back at the low end of recent range.
VIX Futures: Keeping an eye on the term structure. Weekly VIX Futures coming next week, finally!
VIX Options: Calls over puts 3.1/1 - a strong volume week. Total 9.00m (6.79m Calls, 2.21m Puts)
Oil: After some brief signs of life, oil volatility continues to erode.

Volatility Voicemail: Listener questions and comments

Question from Al Parasian, Oakland, CA - What is the most effective way to speculate on a true volatility explosion in the marketplace? Is it straight up VIX calls or is there a more effective product?
Question from ENV16 - I searched for volatility programs on a lark using PockectCast. Did not think I would find anything. Man, was I surprised when your show came up. What a treat! 100+ episodes! I have been sinking my teeth in all week. Any chance you could bring on a guest who specializes in OTC variance swaps? That is a market that has always interested me, but it is hard to find good color on it. Other than that, please keep up the good work and to Russell for bringing us this show. One more quick thing - you guys talked about how a VIX of one is all but impossible. What do you feel is the realistic upside limit of VIX? We saw it hit the 90s during the meltdown. Is that it or is a VIX of 200 a possibility one day?

Originally published on March 23, 2015, we are taking a look back at controversial VIX settlements. Plus, volatility voicemail, and more.

Volatility Review: Welcome to the Post-Fed era.

VIX Cash: Around 18.94. A brief flirtation with 27 last week. No one predicted a move into the mid-20s on our previous show.
VIX Options: Heavy volume early this week. 1.2M Monday, 860K Tuesday.
Oil: Who is the bear driving up the price of U.S. stock options?

Volatility Voicemail: Listener questions and comments

Question from NJ42 - Where do you think the next big development will come from in volatility research or trading?
Question from Alistair - Why are the volatility offerings effectively limited to the S&P 500? Why are there not any real offerings for commodity volatility? People active in those markets also want to hedge their volatility risk?

Crystal Ball: What is left after the Fed?

Volatility Voicemail: It's time for listener questions

Question from Pick6 - I am concerned about pin risk. I know open interest is the primary indicator. But are there any other tells besides OI for pin risk - perhaps implied volatility?
Question from Charles M. - How has the dwindling number of options specialists impacted volatility? I believe volatility has increased as a result with days like 8/24 being glaring examples. Please discuss.
Question from A. Melendez - Any updates on VSTOXX? Is it coming to the U.S. anytime soon?
Question from Zack06 - Can you recommend the definitive study on VIX calls vs. S&P puts? Is there an ultimate winner?
Question from AL33T - looking over the Voldex info recently and I cannot figure it out. Why would I want to remove skew from VIX? Is that not valuable trading info?
Question from Avery - Why do you guys take such a dim view of TVIX? Am I missing something?
Question from Vin C. - What is the correct duration to purchase VXX puts in my retirement account? I would like the best chance at capturing the most erosion over time.

Crystal Ball: Fed still on the horizon in December.

Volatility Viewpoint: Today's guest is Chris Cole, Managing Partner at Artemis Capital Management. They discuss Chris's now "infamous" letter to his investors, "Volatility and the Allegory of the Prisoner's Dilemma."

Volatility Review: A look back at the week from a volatility perspective, plus a review from RMC Asia.

VIX Cash: Volatility surges after sell-off and heading into Non-Farm Payrolls. VIX Cash: 18.11, VVIX: 101.80
What is the Fed impact on Vol?
SPX
CBOE Skew Index back to boring - This week: 135.26
VIX: A heavier volume week in VIX Options. Total 6.24m (4.57m Calls, 1.68m Puts)

Crystal Ball: Earnings season is winding down. FED on the horizon in December.

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

VIX Cash: Interesting Vol activity this week. Volatility remaining firm going into the weekend
VVIX: 96.18
CBOE Skew Index back to boring - This week: 139.16
VIX Options: Heavy volume early in the week. 1M contracts on Monday, 800k contracts on Tuesday. Light volume the rest of the week. Total 5.19m (3.77m calls, 1.42m puts)
Gold: GVZ this week: 17.57
Crude oil: OIV: 42.30, OVX: 43.75

Volatility Voicemail: Listener qquestions and comments

Question from Hawkeye - Love seeing Russell as the new addition to the Vol Views cast of characters. You mentioned you wanted a nickname for him. Since he is going for his Phd (but has not quite gotten it yet), he teaches classes for the OIC, and he literally wrote the book on VIX, how about calling him "Professor VIX" (and maybe moving to "Dr. VIX" once he gets his diploma). I also wanted to say that it was great hearing Don "Palms out" Schlessinger a couple shows back. You need to get him on as a guest host more often, and see if the Viceroy can guest host once in a while, too. Lastly, I love hearing from those Typhon guys. Any time you can get them on, please do so. Anybody with the comedic sense to name their trades "mullet" and "tellum" is good in my book. Wit with Wisdom is the best mix. Thanks and keep the great shows coming.
Question from TiffanyL1 - Is it possible to simply buy VIX cash without messing with the futures?
Question from George T. - Can I buy still buy VIX on the old calculation without the skew?

Crystal Ball: Meandering VIX. Earnings season winding down. Fed on horizon in December.

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

VIX Cash - VIX popping after a protracted downturn - Over 20 briefly. VVIX: 98.19
VIX Futures - CBOE Skew Index back to boring. Last week: 135.21, this week: 136.93\
VIX Options - A very light volume week. Total 7.98m (5.73m Calls, 2.25m Puts)
Earnings Volatility - A tale of two earnings seasons: CSCO: $27.94. ATM Straddle: $1.40 - approx. 5%
Gold - GVZ this week: 18.47, GVZ last week: 17.69
Crude Oil - OIV: 43.14, OVX: 43.93

Volatility Voicemail: Listeners have their day

Question from JJL - After listening to your program I have decided to take a look at VIX weekly options. But I am looking at the quotes right now and the weeklies are significantly wider. The VIX Nov 26 calls are $.05 wide, the Dec 26 calls are $.10 but the Nov 26 weekly call is $.15 wide. Strange that a nearer-term contract would be substantially wider than a farther off contract on the same strike. You guys have been talking about VIX weekly volume being high so why are the spreads so wide? Do you think it is worth the approximately 33% increase in cost to trade a weekly vs. a standard monthly? Thanks for the show. Keep up the good work sirs and welcome aboard to russell.
Question from Pick6 - When a takeover is announced does the volatility (time value) of farther out options erode or go away?

Crystal Ball: Earnings season is in full swing. Fed on the horizon in December.

Today, Mark is joined by:

Mark Sebastian, from Option Pit
Russell Rhoads, Senior Instructor, the Options Institute
Kevin Nichols, Director, CBOE LiveVol

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

Non-farm numbers and the resulting market reaction
Bifurcated earnings season
A less volatile VIX?
SKEW index
Earnings crush
VIX weekly options
Is there a new 12 for VIX?
Put love in VIX-land
Mark S. extrapolates VIX weekly trading for the past seven years
Earnings! The force is strong with DIS.
Crude: WTI Skew

Volatility Voicemail: Listener questions and comments

Question from Adam S.: Hello, is there a correlation between imp vol and move in the stock before earnings? I noticed that aapl imp vol is still 33% even though they will report on Tuesday. Does that imply there will be a small move? Nflx was in the 80s and it moved 10%. I sold put and still made money. Would you sell strangles otm to benefit from vol collapse?

Question from Pick6: Are there too many VIX-related products? Have any of them ever failed?

Crystal Ball: Earnings season! What will the Fed do in December?

Volatility Review: Today's guest is guest: Russell Rhoads from the CBOE Options Institute. The panel discusses:

CBOE Earnings Update - Trading volume increases 6 percent, with record trading volume in index options and futures. Total trading days: 64. ADV: 5.25M, Total Trading Volume: 335.7M.
Update on TYVIX & RVX.
VIX Cash: VIX cash remains south of 15 handle.
VIX Futures: Dramatic movements in CBOE Skew Index. Two weeks ago: 151.22, last week: 121.02, this week: 134.63. Previous high around 140 last year.
VIX Weeklies - Week 4: Another robust volume week for weeklies
VIX Options: Total 6.76m (4.80m calls, 1.95m puts)
Gold: Fed squeezing gold yet again. GVZ: 15.77
Crude Oil: OIV: 43.16, OVX: 43.63

Crystal Ball: Earnings season in full swing. Nonfarms next Friday.

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

VIX Cash: Volatility erosion continues as VIX slips below the 16 handle - Low of 13.24 today. The volatility measure has been below 20 for 12 straight days.
Skew Index: A dramatic 30-point drop in The CBOE Skew Index - Last week: 151.22, this week: 121.02
VIX Weeklies: Another robust volume week for weeklies.
VIX Options: Paper buys 15k Nov 16 puts for $1.55 and 13k Nov 30 calls for $.34; Total 6.26m (4.43m Calls, 1.83m Puts)
Now that Google is Alphabet, options suggest another big stock move.
Gold: GVZ: 15.59
Crude Oil: OIV: 40.18, OVX: 40.22

Volatility Voicemail: What do our listeners have to say?

Comment from Frank W. - Great discussion on the origins of volatility skew. I really learned a lot. I wish more programs would discuss these topics.
Comment from Phil O. - What is it about volatility that tends to bring out the crazies? That stuff about VIX mean reversion and moral hazard was pretty deep into tinfoil hat territory. Surprised to hear that coming out of Artemis.
Comment from mark brant ‏- What a relief! Btw fantastic story of the Vol skew big bang by Herr Doktor Schlesinger! A perfect collar is a work of art! Thanks!… Cool thing about selling VIX options spreads is no theta, a pure Vol play at all tenors!
Question from Ironc - So Taleb and the 1x2 guy both love backspreads. Are backspreads pretty much the ideal volatility trading position? They have little or no net outlay and let you stay in the game long enough to profit from the big moves. I have to say I am becoming a fan. Are there any secret downsides that I am missing?
Question from Varz - Any good recommendations for variance swap volume data?
Question from Dan D. - Can you please explain the CBOE skew index? What is it and what does it measure? Thank you

Crystal Ball: Earnings season has begun. Will we stay below 20 for the next week?

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

VIX Cash: Volatility erosion continues as VIX slips below 16 handle. VIX on a downside streak - sold off for nearly 10 straight days
Zero Hedge back on the soapbox - Moral Hazard, "Supernormal" VIX Swings, And Why August 2015 Was Just An Appetizer
VIX Weeklies: Another robust volume week.
VIX Options: VIX Nov 25-30 Call spread papa buys about 7k. Paper "buys" 15K Nov 15 puts. Total 9.58m (6.23m Calls, 3.35m Puts)
Crude Oil: OIV - 42.28, OVX - 41.99

Volatility Voicemail: Listeners have their say.

Question from Agave - Is it true that volatility skew was born out of the 1987 crash and did not exist previously? I heard that recently and it seems difficult to believe.

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

VIX Cash: The streak is done - VIX firmly below 20!
VIX Weeklies finally join the party - decent volume for the first day.
A theory of why the VIX sputtered on Aug 24.
VIX Options: Some early call selling during the rallies - but primarily more VIX upside call buying.
Gold: GLD continues to dive.
Crude Oil: OIV - 43.98, OVX - 42.97

Vol Voicemail: Listeners weigh in

Question from Nigel B - How are crude options and volatility looking with this rally toward 50? Lots of call love?
Question from Alamut01 -SPX sells off over 2% last week and VIX barely budges. What up?
Question from IVUP - Can you please give us a status update on the Voldex products particularly a release date?
Question from Agave - Is it true that volatility skew was born out of the 1987 crash and did not exist previously? I heard that recently and it seems difficult to believe.

Crystal Ball: Earnings season has begun. Will we stay below 20 for the next week?

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

Moving up the list - 28 days over 20 in the VIX Cash.
VIX Options: A relatively light volume week - 500k contracts most days except for 9/30 - our 1x2 friend is back!
VIX: Total 7.77m (4.80m Calls, 2.97m Puts)
SPX: Spot Price = 1920.70. Puts/Calls = 2.53.
GLD: Spot Price = 108.90. Puts/Calls = 0.40.
Crude Oil: OIV - 44.81, OVX - 44.75

Volatility Voicemail: Listeners have their say.

Comment from Mark Brant - Being afraid of selling W1 IV is just wrong! We are traders, not market makers! Gamma cannot hurt us selling tight Vertical Spreads!
Question from Noodles - VIX the tail or the dog? Hello Vol squad. I was just talking with a few of my trading buddies (all VIX options traders) and they were complaining that VIX does not represent SPX volatility anymore. They said that it is its own beast now because so many people are just trading VIX and VIX products and not SPX. I thought I would put it to the Vol pros to settle the debate. Incidentally, I also turned them on to your program in the process. Bonus points for me. Your insight would be appreciated.
Comment from Joe S. - With regard to the listener who wrote in looking for a good quick Vol calculator - I find the Greeks breakdown on TOS to be particularly informative for my trading. Maybe he should try a paper account there to see what he thinks. Hope that helps him out.

The Crystal Ball: Wild prognostication

Volatility Review: Speaker of the House John Boehner steps down. Janet Yellen and the Fed. VIX Cash. VXUP/VXDN. GLD. Oil.

Volatility Voicemail: Listener questions and comments

Iron flies
Getting tchotchkes
Tick-by-tick calculator
What drives the VIX?

Crystal Ball: The challenges of prognosticating.

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

What happened post-Fed?
VIX remained elevated going into Fed announcement
VIX, VVIX
Advice offered to the Fed
Irrational exuberance abides
VIX Cash making waves, VIX options, not so much
Weekly VIX options can’t come soon enough
The madness that is VXUP and VXDN
RVX and VIX still within spitting distance of each other
Mark has opinions on the Goldman Sachs research team

Volatility Voicemail: Listener questions and comments

Quadruple witching: does it impact option volatility?
Product question on: VXST, VolDex

Crystal Ball: Wild and reckless prognosticating

Volatility Review: A look back on the week from a volatility perspective, which includes:

VIX Cash
RVX
VIX Options
VXUP
VXDN
And the Fed

Volatility Voicemail: In which listeners have their say

Question from Mr. Rose - On 8/21/15, S&P lost 3.19% and VIX is up 8.89 points. Following Tuesday S&P down 2.96%, VIX up only up 2.38 points. Next Wednesday S&P up1.83%, VIX drops 5.31 points. Please explain.
Question from Confused - Hey, is there an overwhelming biased to trading calls in the VIX? Why? What about VIX puts, does anyone trade them?
Question from Jacob - What are some examples of basic volatility arb strategies? Thanks for the program.

Crystal Ball: Wild and reckless prognostication

Volatility Review: A look back at the week in volatility

VIX Cash: Looks like we were right - VIX cash remains elevated over last week level. Goldman Sachs thinks this volatility index should be much lower. The VIX is trading like the U.S. is in a recession.
VIX Futures: Near term of the futures backward, as expected. Contracts are wonky. Bids popping up in unexpected places.
VIX Options: Sept. 1 - 1.5M Contracts, Sept. 2 - 791K Contracts, Sept. 3 - 1.1M Contracts
VelocityShares Daily Inverse VIX Short-Term ETN (XIV) has accumulated $1.1 billion in net inflows, according to ETF.com.
VXY: Additionally, over the past two weeks, the ProShares Short VIX Short-Term Futures ETF brought in $540.3 million in net inflows and now has $599.9 million in assets under management.
Crude Oil: Crude market full of volatility and uncertainty.

Volatility Voicemail: Listener questions and comments

Comment from Mark Brant - Thanks for sharing the VIX 1x2 call swap roller trader and repeating it until we get it! A super great VIX strategy!
Question from Jay G. - Is the interest in VIX options mostly institutional, or is retail there too?
Question from Peter R. - Mark, thanks for doing the free webinar. Trying to educate myself regarding VIX. Please answer why if there is backwardation in the VIX term structure is the VXX not trading close to 3 times higher than the VIX? Thank you.

Volatility Review: Black Monday Redux

The Dow Jones Industrial Average briefly slumped more than 1,000 points, its biggest point-drop ever.
VIX Cash hit 53.29 at 10am and VIX did not update for 30 Minutes as options quotes got erratic.
AAPL hit low of $92 before rebounding.
VVIX: Hit a high of 212 on Monday 8/24.
VXUP/VXDN: VXUP did 813k shares on Monday - VXDN 650k.
Crude Oil: OVX - 51.80, OIV - 51.12

Volatility Voicemail: Listener questions and comments

Question from Inchon55 - Was this the week that VIX traders have been waiting for? It seems like they have been buying calls in the 20-strike range all summer with no payoff. Now we finally got the pop they needed. Will this lead to a flurry of more call buying in the months to come?
Question from Jim J - Question for Volatility Views - This was a crazy week for Vol traders. What was the craziest thing that jumped out at you?
Comment from JoeJoe: Why is everyone making such a big deal about the selloff on Monday? Flash crash? Market manipulation? That is BS! It is August. Everyone knows the market is thin in August. Does this really come as a surprise to anyone?

Volatility Review: Mark Sebastian guest hosts and is joined by Bill Luby, of VIX and more. Ugly day, week, month. What does it all mean? Serious interest in VIX options.

Volatility Viewpoint: How to structure a trading strategy around this kind of market? Should you look at volatility products in a vacuum? When will the Fed actually pull the trigger on rates?

Crystal Ball: What is the driver that will push us into a full-on selloff or rally? What is the normal duration of a major VIX pop? Will Jared own Mark a steak?

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

China devalues the yuan. Why is there no volatility in response? It all comes out in the wash. AAPL flirting with a big move to the downside. Put volume averaging 618,000/day. AAPL a utility? What's the Fed going to do? The week in VIX options. Strong volume for the week:

1.6m contracts Monday 8/10
1.4m contracts on Wednesday 8/12
835k contracts Thursday 8/13
VSTOXX: Channeling Don S.
Crude Oil: Eyeing the continued dive in oil prices.
OVX: 43.23
OIV: 44.49
Gold: Gold Storm on the Horizon

Crystal Ball: Diving boldly unto the breach and making reckless volatility predictions.

Volatility Review: A review of the week from a volatility perspective.

Volatility continues through earnings season - Disney and Tesla hit hard.
VIX Cash: 14.13 - Some juice coming back into the balloon.
VIX Futures: 12.16 - not as controversial as main VIX settlement.
VIX Options: Decent volume week - 770k contracts Monday. Total 7.95m (5.89m Calls, 2.05m Puts).
Crude Oil: WTI term structure - West Texas Intermediate is heading for its biggest monthly fall this year.
Gold: A prominent gold forecaster predicts the metal will drop to a mere $350 an ounce, a level unseen since 2003.
Gold Implied Vol: 12.1% as of July 14, 2015 and up to 18.8% on July 21, 2015

Volatility Voicemail: listener questions and comments

Question from Antimony - Question for the Vol Squad. Have you had a chance to look over the list of latest index products launched by the CBOE? Any contenders? Personally I think the weekly revamps of put and BXM have promise, along with the 30-delta BXM.
Question from Tommy Hendricks - What is your take on weekly VIX Futures so far? Hit or miss?

Crystal Ball: Our future vol predictions.

Volatility Review: In this episode, we are joined by guest co-host Mark Shepherd, Derivatives Strategy Consultants.

VIX Cash: VIX selloff finally over - VIX cash stabilized around the 13 handle this week.
VIX Futures: New weeklies listed this week.
VIX Options: Calls over puts: 2.9 / 1. Solid volume week - most days over 600k contracts. Total 5.83m (4.35m Calls, 1.48m Puts)
Gold: GVZ: 19.39 - Spiked nearly 5 handles this week. Gold volatility skew - clear concern in the near term, longer-dated options showing some bullish positioning as well.

Volatility Voicemail: Listener questions and comments.

Question from LAX66 - Do you guys know where I can find a list of the pensions and endowments that utilize options and futures for hedging purposes? I would like to see if my money is safe and being put to good use. Is that info publicly available?
Question from Bailiwyck - I would like to submit a question from the volatility views radio program. What is the problem with GVZ? Why are there no products to trade with it? I looked it up earlier this week only to find zero contracts traded. Did they delist them? You would think this product would be very popular in a week like this.
Question from TalbotL - Let me see if I have this straight. The front end of the VIX curve is where all the crazy stuff happens. So I want to avoid that in my hedges and "kick the can" past it. The longer portion of the VIX curve is where things typically get pricey. So am I correct in assuming that somewhere in the midpoint - around 3 months - is the goldilocks spot where I should buy my porridge? Is that the most effective place to purchase VIX futures for hedging from a cost to vega perspective?

Crystal Ball: Wild prognostications about the future of volatility.

Volatility Review: Today's guest is Mike Thompson, Typhon Capital

VIX Cash: An apocalyptic week for VIX - Largest 5-day drop in the product history.
VVIX: 85.55 - Back at the low end of recent range.
VIX Futures: Keeping an eye on the term structure. Weekly VIX Futures coming next week, finally!
VIX Options: Calls over puts 3.1/1 - a strong volume week. Total 9.00m (6.79m Calls, 2.21m Puts)
Oil: After some brief signs of life, oil volatility continues to erode.

Volatility Voicemail: Listener questions and comments

Question from Al Parasian, Oakland, CA - What is the most effective way to speculate on a true volatility explosion in the marketplace? Is it straight up VIX calls or is there a more effective product?
Question from ENV16 - I searched for volatility programs on a lark using PockectCast. Did not think I would find anything. Man, was I surprised when your show came up. What a treat! 100+ episodes! I have been sinking my teeth in all week. Any chance you could bring on a guest who specializes in OTC variance swaps? That is a market that has always interested me, but it is hard to find good color on it. Other than that, please keep up the good work and to Russell for bringing us this show. One more quick thing - you guys talked about how a VIX of one is all but impossible. What do you feel is the realistic upside limit of VIX? We saw it hit the 90s during the meltdown. Is that it or is a VIX of 200 a possibility one day?

Volatility Viewpoint: The guest today is Scott Maidel, Derivatives Research, FTSE Russell Investments.

He discusses:

His viewpoint on current volatility landscape
VIX spot level - Did VIX cash perform as expected?
What are volatility strategies?
How to talk about volatility mechanics and characteristics with clients?
Updates on current and pending Russell volatility products

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

VIX Cash: Performance vs Market expectations.
VVIX: Hovering around 115.
VIX Options: Decent but not a strong volume week. Total 7.71m (5.89m Calls, 1.82m Puts)
Crude Oil: Volatility creeping back into crude.

Crystal Ball: Peering over the market precipice. Earnings season ahoy. Volatility prognostication.

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

VIX Cash: VIX poised to start moving aggressively again?
VVIX: Hovering around 85 - near the low end of its 1-year range.
VIX Options: Back to light volume - all sessions below 500k. 3.8/1 Calls over puts.
RVX: OI 62 contracts.
VXUP / VXDN: Light week here as well - VXUP most days well under 30k shares, VXDN under 5k shares.
VSTOXX: Flirted with a 5-month high of 27.5 earlier this week.
Crude Oil: Crude Vol creeping lower. OVX - 29.18, OIV - 29.36
Rates: TLT Aug IV = 16 - Has not changes much over the past month.

Volatility Voicemail: Listener questions and comments

Question from Nick James - Tuned in last week for the first time and heard the discussion on volatility products, and particularly the AccuShares VIX products. I have been intrigued by this product and found your conversation interesting. It sounds like you take a dim view of it and would recommend against me buying shares of the VXUP version. How would you fix it if you could?
Question from St. James - How low can VIX go? You guys said on a recent show that a VIX of 1 was not realistic. So what is a realistic low for VIX?
Question from Encore - I am a fan of bullish risk reversals or collars in the equity and index world, due to the volatility premium inherent to the puts. It looks like that similar strategy is not as effective in VIX Options and most volatility products. The volatility premium is in the call, so most bullish risk reversals end up costing a net debit rather than generating a credit. So, should I take this to mean that I should flip my strategy to employ bearish risk reversals instead in volatility products? Do they tend to be more effective, or are the call premiums merited in volatility products?

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

June VIX settles at 14.67
VIX Futures: Front month down to 15.15
VIX Options: VIX call/put = 3.9 - getting more attention again.
RVX: OI 61 Contracts
VXUP / VXDN
VSTOXX: Hit 5-month high of 27.75 on Monday ahead of the emergency meeting on Monday. VSTOXX vs. VIX Spread widened this week with VIX crisis.
Crude Oil: OVX: 30.60; OIV: 30.46
Rates: TLT Aug IV = 15 - Has not changed much over the past month.

Volatility Voicemail: Listener questions and comments

Question from Tasty Meatballs - What is your take on the new TYVIX index disseminated by the CBOE?
Question from Jarvis - This is for the volatility views radio program. There are a lot of players entering the volatility ETF world. Some offer ratio products, inverse products or the new wave of spot products. I would like to know if there is a certain type of ETF or a certain area of the market that you think is ripe for a new volatility product.
Question from Azon - How does VSTOXX perform relative to VIX? Just as call heavy? Similar pops to the upside?

Crystal Ball: VIX pop? Buyers to come when the deadline looms.

Volatility Review: Greek vol not amounting to much. Setbacks in Greek debt talks on Friday bringing a little vol back to the marketplace. Traders aggressively hitting volatility going into the weekend.

VIX Cash: High of 15.74 on June 9. VIX trending lower throughout the week finally breaking the 13 handle on Thursday.
VIX Options: Call love - a heavy volume week, averaging 500k contracts. A massive day on Wednesday - nearly 1.6M.
Our 1X2 friend is back!
Total 8.13m (6.48m Calls, 1.65m Puts)
VIX Up/Down: Nascent VIX Up/Down ETF Could Face Hedging Pressures

Volatility Voicemail: Listener questions and comments

Question from Nixy - Just found this hose on iTunes and liked the discussion about the new VIX ETPs. I am curious what you think of the CVol ETF product? Worth my time or more volatility detritus?
Comment from Abstergo_US - Great discussion on VXX leap puts. After listening to your program, I pulled up the VXX options chain and pulled the trigger on the Jan 2017 12 puts for around $2 in my IRA. Fast forward a few weeks and these puts are already up well over 10%. Thanks again for the great tip. Seems like everyone should be loading up on these things.

Crystal Ball: Reckless prognostication.

Volatility Review: An action packed week on the market - shrugging off the non-farms.

VIX Cash: Major indexes selling off over 1% Thursday.
VIX Options: A big call stupid going up in June/July 20s.
VXUP/VXDN: VXDN not catching fire like the VXUP
Crude Oil: OIV & OVX
IMF: The Mark-Jared bets continues.

Volatility Voicemail: Listener questions and comments

Skew: What is it? Should it exist? Why does it exist?

Around the Block: Summer VIX is back in season.

Volatility Review: The week in review, from a volatility perspective

Some action earlier this week as S&P dropped over 1% and VIX popped to the 14 handle.
VIX Futures: Front month future flirted with 15 during the selloff.
VIX Options: Anemic volume week post-holiday - only 63k contracts through 11am. Still mostly call buyer in June - primarily VIX. Total 6.06m (4.73m Calls, 1.33m Puts)
VXX: Puts trade in iPath S&P 500 VIX Short Term ETN (VXX) are up 0.34 to 19.02 today. VXX is near the lower end of the 52 week range.
VXST: Volume: 0, OI: 4. VXST will be replaced by VIX weeklies probably by the end of the summer depending on VIX weekly approval and launch.
Crude Oil: OIV: 33.04; OVX: 32.5

Volatility Voicemail: Listener questions and comments

Question from Aeschylus - One thing I cannot understand clearly is why there is so much focus on the volatility smile. Given my knowledge of the Black and Scholes model, this is what I get: People use the volatility smile as a forecast of future volatility. They assume that the market is 100% efficient and everyone would engage in dynamic hedging if they could or that everyone agree that the Black and Scholes model gives the "fair" price for the option, whatever it means to them. Therefore any difference between the market price and the BS price shouldn't be interpreted as an opportunity for arbitrage or a presence of model risk, but what 'the market' is saying the BS parameters should be, in special the volatility the market is predicting for the future time until the maturity of the European option.
Question from James Bass - Why is IV different between put and call of same strike? In his book Dynamic Hedging Nassim Taleb says that the volatility of an OTM put should be exactly equal to that of a corresponding in the money call of same strike. But in option chains, the calls always have a slightly higher IV than the corresponding put. Is this because I am looking at American option chains and not European?

Volatility Review: Looks like the market started taking the weekend out on Thursday, and never looked back.

VIX Cash: Low: 12.09, High: 13.27
S&P 30-Day realized: 10, S&P 60-Day realized: 11 VVIX: 74.50 - on the lower end of its recent range.
Skew Index: 121.11 - also on the low end of recent range.
Put vs SPX White Paper: A Leveraged Portfolio Management Approach Applying The CBOE S&P 500 PutWrite Index.
VIX Options: A strong volume week. 945K Contracts on Monday, 750k Tuesday, 700k Wednesday and only 350k Thursday.
VIX Up / VIX Down: Despite our doubts last week, the product is doing heavy volume.
Question from IVDaily - Please explain the VXUP and VXDN products to me. I am very confused. What am I getting if I buy this thing? Its not really spot VIX that I am getting, but the actual percentage move in the spot VIX, correct? What does this paired contract thing mean? Do I have to wait for someone to sell VXUP before I can buy the VXDN and vice versa? Shed some more light into the darkness please guys.

Volatility Voicemail: Listener questions and comments

Question from Gerry Engle - Hola fellows. Like the programs especially Option Block and Volatility Views. I noticed you guys do not talk much about technicals. The few times you have mentioned them you seem to take a dim view of them. Why is that? Are there no technicals that you feel are useful for options traders to pay attention to? What about volatility technicals?
Question from Ibrahim Hawash: Hi Mark. This is Contrails again, after several months away from options I forayed into Forex my original trading stumping ground smile emoticon I learned a lot about price action support and resistance, trend lines, pivots etc... I am looking now into options for position trading. I am so comfortable doing directional trades, bullish and bearish speculation and not yet into vol trading. My question is if I find a stock sitting on strong support and at a very low IV% (MU and PG is what I am looking at) along with confirming buying volume would you buy a OTM or ITM calls? I have a feeling you will say why not sell puts smile emoticon but let’s stick with calls for now given my account restriction. Is there a golden rule on choosing ITM vs OTM in this situation? I read that only buy ITM calls because OTM expire worthless as in hear.
Also my understanding that when IV% is very low you would not buy call vertical spread and choose to buy calls, is this correct? I also have a question, do leap options IV increase at earning times along with shorter expiration options? One more thing, forgot to ask that I am looking to buy calls expiring in 2-3 months and I am looking at daily candle stick charts.

Crystal Ball: Reckless prognostication. Will there be a Tuesday morning pop?

Volatility Views 158: Is VIX Without Contango Even Possible?

Volatility Review: A look back at the week in vol

VIX Cash: High: 15.13 - Low: 12.41
VVIX: 82.12
S&P 30-day realized Vol: 10
VIX Options: Total: 7.84m (5.84m Calls, 2.01m Puts)
Single largest VIX Options trade in History. Sold VIX July 17-23 1x2 call spread to close. Bought July 17-23 1x2 call spread to close play $0.11 - essentially rolling out to July. Size was 1.08M contracts total.
Crude Oil: Crude bears are starting to show their claws again.
OVX 31.67 - OIV 32.18
This comes after today may set a near-record 9th week of gains for the most consecutive weekly gains in at least 30 years.

Volatility Voicemail: Listener questions and comments

Question from Andrew Grove - Are there any packaged products out there that will replicate a long or short delta-neutral straddle position? The key part I believe would be the adjustments as the product would require multiple adjustments to remain delta neutral. I have listened to your program for a long time and come to the conclusion that delta-neutral is the best way to capture volatility in the marketplace right now. But I do not want to tie up all of my capital and all of my time managing and adjusting one trade. I would prefer to buy or sell something that handled the lion’s share of the work for me. If there was some slippage on the execution I could live with it as the ultimate cost of using a packaged product vs. doing it myself. Thoughts? Am I crazy? I would love to get the old VolX guys opinion on this as well if possible since I assume they have insight into this issue.

Volatility Viewpoint: Today's guest is Euan Sinclair, Author of Volatility Trading Editions 1 & 2, as well as Options Trading. He discusses:

What is driving the pronounced decrease in VIX?
What were the primary drivers of the dramatic increase in "Vol-of-Vol" we saw at the end of 2014?
CBOE is launching VIX weeklies soon. Does he feel they have the potential to succeed where VXST has failed miserably?
A sneak peek of any book he currently has in the works.

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

VIX Cash: Low - 12.10, High - 16.36
VIX Options: Total 6.62m (4.76m Calls, 1.86m Puts)
Crude oil: OVX & OIV

Volatility Voicemail: Listener questions and comments

Question from Mark Brant: Please address how IV chain structure can make a spread more viable or less viable and how liquidity affects such IV structures.
Question from AdamVega:Hello I am a big fan, thank you for your great shows. I have been looking for a platform that I use for Backtesting. I currently use thinkorswim but Backtesting is slow and not reliable. Any suggestions? Thanks AdamVega

Volatility Review: A look back at the week from a volatility point-of-view

VIX Cash: Low: 12.33 - High: 15.29
VIX Options: Another modest volume week.
75k May 20 calls purchased Wednesday for $.40.
Paper buying June 23 puts for $.15.
June 17-20 call spread vs 14.5 puts went up nearly 30k times. May/June 13.5 put spread trade 10,000 times.
Total 6.14m (4.39m Calls, 1.75m Puts)
Options volume slid in first quarter.
Volatility cycles and stock trends.
International Volatility: India VIX caps monthly advance as futures rollover below average.
Crude Oil: OVX - 36.09, OIV - 36.95

Volatility Voicemail: Listener questions and comments

Question from Eli - Would you agree that VXX shares are a useful intraday way to trade volatility? What is the longest you would consider holding that before the roll yield effect begins to kick in?
Question from Oaklander - Do VIX options suffer the same from time decay as regular options? Are there peculiarities to the VIX formula that make the options perform differently on a theta basis?
Question from Charlie B - Long VXX vs short OTM front month VIX call. Can this be considered a covered call? What other sorts of "volatility yield" strategies can you recommend?

Crystal Ball: Wild prognosticating? You betcha. Non-farms have been rather “meh” lately, with people selling vol into non-farms. What’s the outlook for this week?

Volatility Viewpoint: Today’s guest is Mike Thompson of Typhon Capital. He discusses:

VIX Futures
VXST
The mainstream acceptance of volatility
VXX and VSTOXX

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

A groundhog day in volatility.
VIX: volume down significantly.
VIX Options: Put love later in the week. June 14-18-21 fly spread going up.
Gold: GVZ hitting a seven month long, near the 15 handle.
Crude Oil: The bulls are back in crude.

Volatility Voicemail: Listener comments and questions

Question from Tim Engels - Been a lot of ink lately about VIX volume being in the toilet. You guys have touched on it once or twice on the program as well. Why do you think the volume has fallen off a cliff?
Question from Theist - Reading about delta neutral strategies. But the profit seems small for each adjustment, commissions seem large for the adjustments, and the values for many of the variables (delta, vega) seem questionable at best. Is this really a viable strategy over the long term or are there better way to capture volatility in the marketplace?
Question from Frank Underwood - Any good mobile apps out there for volatility analysis? Seems like I am always on the go and never at my desk when a good trading idea strikes me.

Crystal Ball: Reckless prognostication. Looking for VIX to rise over next week or two.

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

Greece bringing some volatility back to the table.
VIX Cash: Low: 12.50 - High: 14.75
Earnings do not seem to be injecting much Vol into the market.
S&P: Skew Index: 120.37
VIX Options: Our friend with the April 13 puts decided that discretion was the better part of valor - sold 90,636 of them on Tuesday for $.05. 800K contracts on Tuesday. Total 4.22m (3.12m Calls, 1.11m Puts)
Elizabeth Warren: Tax the banks. Warren called for a transaction tax on firms that use computer-based trading systems to make rapid-fire transactions. She said taxing so-called high-frequency trading would make the market less volatile and give smaller investors a fighting chance.
Crude Oil: The bulls are back in crude - OVX: 43.48, OIV: 42.67

Volatility Voicemail: Listener questions and comments

Question from K9 - Why does no one in the US talk about VSTOXX as a volatility gauge? I think it does a better job of measuring overall Vol by taking the square root of the implied variance rather than the convoluted VIX formula. It also does not have all the outside influences polluting the calculation the way VIX does. Maybe this should be something you guys include in your program going forward?
Question from Fred - My study of options is enjoyable, but it takes so long. I am going to be 200 before I know anything… Do you think expiration Friday has changes in significance in recent years? Is it not really that much of a big deal anymore?
Comment from Mark Brant - Inspired by C-bass video: AAPL, Sell W234 6-Strike Iron Butterflies; Buy W7 Straddle. Credit is 20% of margin requirement...AAPL Week2 1X5 modified Iron Butterflies with long 5X gamma wings are working!

Crystal Ball: Maybe check the expiration date of the contracts you trade. Just saying. Will there be an all-time high in S&P 500?

Volatility Review: A look back at the week in volatility

VIX Options: April 50 calls still open - someone made a massive play in May calls. A ton of new volume in June 17-23 calls, nearing the 1M mark total for just today.
Crude oil: Call option trades target return of $100 US crude oil.
Other Volatility Topics: Apple Watch - can it bring back the glory days of AAPL?

Volatility Voicemail: Listener questions and comments

Question from Rahul Tandalkar - Sir. Can you please tell me a website where I can find implied and historical volatility for Indian stocks?
Question from J Dog - So VXX is crap! We all know this. Are there any VIX ETFs that you guys like?
Question from Tom Snydon - What can I not trade options on OVX?

Crystal Ball: Sold to you, and more wild speculation.

Volatility Review: A look back at the week in vol

VIX Cash: Low: 12.89 - High: 17.19
S&P: Skew Index: 122.86
VIX Futures: Stories from the front
Question - Hi Mark: My story is about a professional trader in VIX Futures who claims he lost heavily because the electronic broker he was trading through had the wrong expiration date – it was one day early. Apparently this professional trader had a position of over $100M. Apparently the wrong expiration date had been posted for several months. He won an award for over $2m at a FINRA panel behind closed doors.
My questions: What is your reaction? If you are a VIX Futures trader do you typically hold your position over days/months or do you close out at end of day? It seems also possible that if the wrong expiration date was published, a VIX Futures traders could also come out ahead on the positive side of the balance sheet? What is your take on VIX Futures?
VIX Options: April 50 calls still open - someone is quite optimistic about April Vol. Total 4.49m (3.03m Calls, 1.46m Puts)
International Vol Review: More from the Russians?
Crude Oil: Call option trades target return of $100 US crude oil.

Volatility Voicemail: Listener questions and comments

Question from Charlie C - Hey Vol Viewers. OIV and OVX both hovering around 50 - which has the best chance to pop?
Question from Mark - Liked the discussion about the structural volatility of the market from the last episode. Allow me to pose a related thought question to you. Mark Longo stated on the show that it would take “world peace and perfect harmony in the markets” to get the VIX below 5 for any substantial period of time. But what if the S&P were to double or even triple in value? According to the skew curve wouldn’t that bring us down into a VIX in the single digits? Perhaps even below five? Probably more feasible than world peace. Good show. I have to side against Jared in the Fed wager. The odds of a raise this year don’t look very good. If I throw my hat into the ring can I get in on the inevitable steak party that Jared will be throwing in Chicago? I like my T-bone medium rare please.

Volatility Views 151: The Fix on VIX

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

VIX Cash: Low: 12.54 - High: 16.37
VIX Settlement seemed somewhat controversial again this month.
VIX ETFs: TVIX and VIXY shares outstanding doubled over the past 5 weeks going into the bankers meeting this week.
S&P: Options contracts that pay off should the S&P 500 lose 10 percent in the next three months, near the time of a potential Federal Reserve rate increase, are by some measures almost seven times more expensive than at the start of the year, the data show.
Quadruple witching something of a non-event - with expiration every week now, it seems as though triple and quad witching have lost some of their luster.
VIX Options: Big VIX trades this week - customers buying upside calls in April, particularly 22 & 26 strikes. April 50 call still open.
Total 3.65m (2.50m Calls, 1.16m Puts)
Volatility Index Bracketology: Someone beat Jared to the earnings volatility study - Informed traders prefer options says academic research.
International Vol Review: Russian "mystery" event a bit of a letdown - Could the Israeli election have an impact?
Crude Oil: The bears had their claws out again for crude oil. Brent down 3% Thursday - WTI down 2%.

Volatility Voicemail: Listener questions and comments

Question from The Great Donaldo - Hello to the volatility wizards. I enjoyed your coverage of the RMC conference and Marks interviews with some of the speakers. I have never been able to attend the event due to scheduling conflicts. I am also not partial to attending an event that is primarily intended to promote one firms products. So I would appreciate your informed opinions on other volatility-oriented events that you feel are worthwhile for the listening audience to attend. I do not mind some forays into the mathematical realm but I am not interested in modeling so much as strategy and theory. Thank you for all of the work that you do to shine light into the darkness.
Question from Lee Daniels - What is the absolute baseline level of volatility that we could reasonably expect to see in the marketplace. I have heard you guys talk about a VIX in the low teens on earlier episodes. Is a single digit VIX feasible and if so for how long? Could we ever see a VIX below 5? What sort of situation would it take to achieve such historically low volatility levels in the marketplace?

Volatility Views 150: Doing Our VIX Term Structure Homework

Volatility Review: A look back at the week in volatility:

VIX Cash: Low: 14.71 - High: 17.19
Skew Index: 121.53
VIX Options: Total 5.58m (3.74m Calls, 1.85m Puts). Surprisingly light volume given the activity seen this week. Most days substantially under recent ADV. MSCI options to be listed soon.
RVX: 65 Contracts open interest. FTSE volatility products coming soon.
VXST: OI just 25 contracts.
VolX: A lot of interest in their products down at Boca from market makers as well as domestic & international exchange.
International Volatility Review: What can we expect from the Kremlin?
Crude Oil: A volatile week for crude with futures having wild intraday swings. Both Brent and WTI made early gains yesterday only to give them up heading into expiration.

Volatility Voicemail: Listener questions and comments

Question from Carl Jedredes - What is the traditional slope of VIX futures term structure? How much premium do the long term futures typically exhibit over front month (i.e six month future 8% over front month future)? When the term structure is flat or even backward does this typically benefit ETPs like VXX that are forced to rebalance on a regular basis.
Question from Beta Ray Bill - Is there some way to use implied volatility to choose your strike when trading options?

Crystal Ball: The wager continues: Fed raising rates in 2015?

Volatility Views 149: History of Economic Data

Volatility Viewpoint: Mark & Bill breakdown the RMC Conference. The most interesting panels and presentations, surprising revelations, and other like or dislikes.

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

VIX Cash: Low: 13.25 - High: 15.33
Skew Index: 127.26
VIX Options: Total 4.97m (3.38m Calls, 1.59m Puts)
The extended hours for VIX options began trading on Monday, while the extended hours for
SPX options are expected to start on Monday, March 9.
International Volatility Review: ECB plans to buy foreign debt.
Crude Oil: Expect more volatility in oil says Exxon CEO

Crystal Ball: Is vol creeping back in

Volatility Views 148: What Color Is the Dress?

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

VIX Cash: Low: 12.86, High: 15.48
Skew Index: 126.20
The extended hours for VIX options are set to begin Monday, March 2, while the extended hours for SPX options are expected to start on Monday, March 9.
VIX Options: Total 4.38m (2.98m Calls, 1.40m Puts)
VIX term structure hits CBOE earnings
International Volatility Review
Crude Oil: Volatility returning to oil.

Volatility Voicemail: Listener questions and comments

Question from Jordan M. - Do you have any updates on the volatility ETF from Robert Whaley that proposes to eliminate the roll yield issues with VXX? Is it coming to market any time soon?
Question from Smile Creators - Hello, big fan. Thanks for the great shows. Is there a study that tracks Implied vol vs Historical vol? I am interested to see when they are following the same pattern or they deviate. Pakapiko.
Question from Mr. Bochco - Where do you guys fall on the great 252 vs 365 debate when analyzing volatility? I have heard arguments for both. At the end of the day does volatility not occur even on the weekends and holidays?

The Wager:

Comment from AvonDude - Recent comments from the Fed this week seem to reinforce Marks stance on rates. Whomever wins the wager should buy the other guy a bottle of the fine liquor of their choice.
Comment from Mike S. - Not looking good on the Fed front. I probably have to fall on the no change side of the fence after this week. I do not remember which host wagered on what but I would like to see the losing host make a donation to the other host’s favorite charity. That way everyone wins.
Comment from Tom Statton - I think both co-hosts should buy Mark a steak regardless of the outcome for featuring them on this fantastic program. Well done Mark. I would buy you one as well if you ever make it to Alberta.
Comment from Mark A. - No way Fed raises this year. When he loses I think Jared should fly to Chicago and host a cocktail party for all Volatility Views listeners. I would happily allow him to buy me some tasty beverages.
Comment from SylvanElph - Regarding the Fed Bet - It o\is a radio program so the co-hosts cannot wear embarrassing outfits. Maybe buy the other a pizza of their choice? So Jared would have to buy Mark (and Mark) a nice Chicago deep dish and Mark would have to buy Jared a tasty NYC thin crust. Or New Haven style. Whatever his preference.
Comment from Jeremy Stevens - I think the Fed will have to adjust their rates before the close of 2015. They are too terrified of inflation and stagflation to sit on their hands. Not sure why a blip in CHF in early 2015 would set the tone for Fed policy at the end of 2015? Maybe Mark can elaborate? As for the wager - How about the loser gives away 5 free subscriptions to his services to VV listeners? So Jared can give away some BGC Research and Mark can offer his Option Pit subscriptions.

Crystal Ball: Andrew and Jared prognosticate wildly. VIX cash to below 13?

Volatility Views 147: Men Cause Volatility

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

VIX Cash: High - 16.74, Low - 15.10
S&P: 30-day IV - 13, 30-day HV - 15, Skew Index - 131.30
VIX Options: A decent volume week except for 2/19 with only 250k contracts. Total 3.39m (2.33m Calls, 1.06m Puts). Extended VIX Options trading hours start March 2.
International Volatility Review: Greece is the word.
Oil: The battle for $50 continues - WTI March futures back below $50, OVX at $55.75.
Men create volatility? Could more women traders cut volatility? Experimental market sessions show more women traders = smaller and fewer bubbles

Volatility Voicemail: Listener questions and comments

Follow-up from Uncle Ben - Thanks for answering my question last week. Your sympathy for my plight as the “lone market participant” is appreciated. Sorry I set off Jared’s racism detector with my handle. I did not mean to derail the program. It just happens to be my name (although I do like the rice).
Question from Brian T. - You say earnings is a crap shoot, so you simply should not play the game. I say that if you take a systematic, risk-limited short volatility approach, such as with iron condors, you maximize the potential to harvest premium, while eliminating the risk of what Mark referred to as "big blowouts". You clearly have to be judicious with your strike selection, but I have found this to be a profitable long term approach to earnings season.
Question from Tim Biggs - Any data on that theta free approach to earnings? What percentage of decay occurs prior to the event vs. post-event and how does that compare to underlying movement during the period?

Crystal Ball: Will the Eurozone move towards gradual progress? What does economic growth really mean? Other wild prognostications.

Volatility Views 146: Betting on Fed Volatility

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

VIX Cash: High - 19.28, low - 15.26
S&P: 30-Day Imp. Vol - 13, 30-Day Hist. Vol - 16. Skew Index - 129.94
VVIX: Thursday Close - 93.24
VIX Options: 700K contracts on Feb 12, for a strong up day for the market. Total 5.36m (3.28M calls, 2.08M puts).
Extended VIX Options trading hours start March 2.
Upcoming launch of RealVol SPY Options on BOX - good news for our former co-hosts.
VXST: Current open interest: 3 contracts.
RVX: Current open interest: 58 contracts.
International Volatility Review: RVI - Russian Volatility Index
OIL: WTI March futures are back above $50, after dipping below it again. OVX still hovering near $60, 6-month chart of OVX is pretty impressive.

Volatility Voicemail: Listener questions and comments

Follow-up from Uncle Ben - Thanks for answering my question last week. Your sympathy for my plight as the “lone market participant” is appreciated. Sorry I set off the racism detector with my handle. I did not mean to derail the program. It just happens to be my name (although I do like the rice).
Question from Tim Biggs - Any data on that theta free approach to earnings? What percentage of decay occurs prior to the event vs. post-event and how does that compare to underlying movement during the period?
Question from George - This may seem like a silly question but does anyone go out and look at old VIX cash data from 30 days ago and compare that to current realized? Is that not what VIX cash is attempting to predict? Is that disseminated anywhere as a number or index? Something along the lines of a VIX Accuracy Index?
The Wager:
Comment from Tom Statton - I think both co-hosts should buy Mark a steak regardless of the outcome for featuring them on this fantastic program. Well done Mark. I would buy you one as well if you ever make it to Alberta.
Comment from Mark A - No way Fed raises this year. When he loses, I think Jared should fly to Chicago and host a cocktail party for all Volatility Views listeners. I would happily allow him to buy me some tasty beverages.
Comment from SylvanElph - Regarding the Fed Bet - It is a radio program so the co-hosts cannot wear embarrassing outfits. Maybe buy the other a pizza of their choice? So Jared would have to buy Mark (and Mark) a nice Chicago deep dish and Mark would have to buy Jared a tasty NYC thin crust. Or New Haven style. Whatever his preference.
Comment from Jeremy Stevens - I think the Fed will have to adjust their rates before the close of 2015. They are too terrified of inflation and stagflation to sit on their hands. Not sure why a blip in CHF in early 2015 would set the tone for Fed policy at the end of 2015? Maybe Mark can elaborate? As for the wager - How about the loser gives away 5 free subscriptions to his services to VV listeners? So Jared can give away some BGC Research and Mark can offer his Option Pit subscriptions.

Crystal Ball: Mark and Mark prognosticate wildly.

Volatility Views 145: Debating Earnings Skew and Corporate Racism

Volatility Review: A look at the week in vol:

VIX Cash: High: 22.81, Low: 16.67
S&P: 30-day IV: 15, 30-day HVOL: 16, Skew Index: 127.54
VVIX: Thursday close: 98.56
VIX Options: Total 4.80m (2.86m Calls, 1.95m Puts)
Market now loving CBOE numbers, stock off 5.5% - earnings were up 7.6%, but missed expectations. Extended VIX Options trading hours start March 2.
VXST: Another week of anemic volume dispute significant underlying movement.
RVX: Still no appreciable volume.
OIL: Another crazy week for oil - rallies over 20%, then clipped, the rallied more again. Currently hovering above the $50 strike again.

Volatility Voicemail: Listener questions and comments

Reply from Ernitin14 - @OptionsInsider love Vol Views show. Here's my counterargument on remarks on skew shape. If everybody is hedging their short bet, vol squeeze is very likely which is exactly what happened in GOOG post earnings. Yes ATM call spread were the best plays, in case it was a win - win situation. Blow out numbers - upside explosion, so-so numbers- covering their shorts. What I am missing?
Question from Uncle Ben - Liked the discussion on risk premium from the last episode. This is a topic I have always struggled with. It seems like you are chasing your tail either way. If you compare straightforward 30-day implied vol vs. historic vol, then you are comparing an indicator that is really 30 days forward with an indicator that is nearly 30 days lagging. It does not make much sense. If you attempt to extrapolate realized vol forward, you run into the same errors that plague implied volatility. There are millions of dollars spent on volatility forecasting models that cannot get it right, so what chance do I really have with my own little algorithm? Is this all a fool’s errand?
Comment from Alvo - Hey guys - just a note that 30-day historical vol actually measures about 20 trading sessions, with 30-day implied vol foes out a full month. Different size sets = problems.

Crystal Ball: Andrew and Jared prognosticate wildly.

Volatility Views 144: Talking Earnings Volatility

Volatility Review: A look in the week from a volatility perspective

VIX Cash: High: 21.55, Low: 15.52
S&P: 30-day IV: 18, 30-day HVOL: 17, Skew Index: 130.44. Goldman says nap time for put sellers.
VVIX: Thurs close: 100.70, Week range: 91.85-109.99
VIX Options: Total 4.29m (2.97m Calls, 1.32m Puts)
VXST: Another week of anemic volume despite significant underlying movement.
RVX: Still no appreciable volume.
OIL: Another crazy week for oil. Saudi prince reiterates that "we will never see $100 oil again." OPEC Chief says this may be the bottom for oil.

Volatility Voicemail: Listener questions and comments

Question from NINC - Hey Volatility Views guys. I know you have discussed the topic of earnings studies in the past, particularly as it relates to earnings straddles. You said there was not much research on the topic. Has the situation changed since that conversation? Has there been any new research on the topic? I know you discussed the possibility of doing such a study for this program? What is the status of that study? Please let me know when you release it as I would be very interested in the results. Thank you for this network. I am a regular listener of volatility views, options boot camp and the news rundown programs.
Question from Andrew S - If you had to lean long or short going into every earnings cycle which way would you go? Me - I am tempted short but I am terrified about the blowout events.
Question from Nitin Gulati - @OptionsInsider Funny how $GOOG moved today, apparently skew was bid up all day yesterday, so not a surprise.

Crystal Ball: Mark and Jared prognosticate wildly.

Volatility Views 143: The Great Fed Debate

Volatility Review: The week in volatility

ECB takes all of the vol out of the market in one fell swoop. S&P 500 volatility streak longest since '12 as 1% moves multiply. The S&P 500 Index rose 0.5 per cent yesterday and moved 1.3 per cent from its lowest to highest levels.
VXST: Another week of crappy volume. (The Mystery of Short-Term Volatility)
FX Volatility: Another crazy week following the Swiss Franc crisis.
Crude Oil: Crude continues to take it on the chin. Domestic crude supplies at near record levels. Iraq increasing production to offset declining revenues. Death of the Saudi King adding to the confusion.

Here’s the chart that Mark was referring to from Daily FX:

Volatility Voicemail: Listener questions and comments

Question from Marcus N - You discussed the retracement from backwardation to contango in VIX Futures on the last episode. If I thought the retracement would be rapid and I wanted to play that retracement, would the near-term futures or options be my best bet?
Question from Avrile - Risk premium - What is it? I have seen it defined many ways. Is it a products 30-day implied vs. 30-day realized? 10-day vs. 10-day? If using 30-day realized that’s a lagging indicator. Do you then have to extrapolate that forward using an algorithm, then compare that to 30-day implied to get a more accurate number? What about comparing something like front month or 30-day implied SPX volatility vs VIX Cash or VIX Future? Is that the best surrogate for the markets risk premium? Or has VIX Cash become such a polluted number that it is better to stick with straight SPX implied volatility?

Crystal Ball: Mark and Jared prognosticate wildly!

Volatility Views 142: The Swiss Franc Black Swan

Volatility Review: A look at the week that was:

Swiss Franc: Deutsche Bank AG suffered about $150 million in losses Thursday after the Swiss National Bank abruptly removed the cap on the Swiss franc’s value, sparking a massive rally. Meanwhile, a major U.S. currency broker warned its equity was wiped out, a U.K. retail broker entered insolvency and a New Zealand foreign-exchange trading house collapsed.
Crude Oil: Oil prices fell on Thursday after weak U.S. economic data spurred worries over crude oil demand. U.S. crude declined $2.23, or 4.6 percent, to settle at $46.25 a barrel. Brent crude was last down $1 to trade around $48 a barrel.

Volatility Voicemail: Listener questions and comments

Question from Mark Brant - @Options How long does VIX backwardation normally last and are the reversions to contango sharp or mild?
Question from Analygos - I have heard you discuss previously buying options prior to earnings to capitalize on free gamma with no decay. My question is about after earnings when the premium collapses. Is that technically options decay all coming out of the option at once? Or is it a collapse of implied volatility that is erasing the premium in the options? If the latter then is the decay technically occurring every day prior to earnings and just being overcome by increasing implied volatility leading up to the earnings event?

Crystal Ball: What is coming up for this week in vol? Expiration making things extra crazy.

Volatility Views 141: The Return of Euan Sinclair

Volatility Viewpoint: Euan Sinclair, author of Volatility Trading Editions 1 and 2 and Options Trading,is back. Euan is an option trader with over eighteen years of professional trading experience. He currently works on strategy design and is the risk manager at Bluefin Trading. He holds a PhD in theoretical physics from the University of Bristol.

He discusses:

The major volatility takeaways/lessons from 2014?
The dramatic increase in "vol-of-vol" at the end of the year, and the primary drivers of that?
Did the flight of institutional liquidity from the markets contribute to the increase in "vol-of-vol", or is the lack of liquidity overplayed?
His take on what we are seeing from a commodity vol perspective right now, particularly crude oil?
His opinion of VXST, and why it has not gained more traction
His opinion on the two VIX competitors in the works - Voldex and the Whaley Project
A sneak peek at his new book and what he is looking out for in 2015

Crystal Ball: Non-farm payroll numbers were the only vol driver this week. Maybe the start of earnings season will inject some volatility back into this marketplace?

Volatility Views 139: Getting Angry About Volatility

Volatility Review: The week in volatility:

VIX Cash: Low - 12.55, High - 21.09
VIX Options: Total 6.66M (4.35M calls, 2.31M puts)
VXST: Total 7,746 (5,185 calls, 2,561 puts)
Oil Volatility: USO vs. XLE - Traders hedge oil ETF while energy stocks lure buyers.

Volatility Voicemail: Questions and comments from our loyal listeners

Question from CPunk - Hello Volatility Gurus! Long time, first time. Love your discussions of all things volatility, particularly your breakdowns of the different products. I listened to your episode with Scott Nations recently and it got me thinking about how most volatility products appear to be very flawed. VIX has obvious issues and the Voldex product does not appear to solve many of them beyond eliminating skew. The various ETPs all have very well-known issues as well. If I had to think of an ideal volatility product, it would probably be something along the lines of what your former sponsors VolX promoted - a product that essentially captures the actual volatility in the marketplace. I am not familiar with the underlying mechanics of their product to analyze it, but I think we need more products in that vein, that attempt to deliver the actual volatility in the marketplace versus some vague guesstimate that is probably wildly inaccurate. Do you agree? If you could construct your ideal volatility product, what would it be?

Crystal Ball: What do we expect to see in the last few weeks of 2014?

Volatility Views 138: The Action Is In Oil

Volatility Review: The week in vol

VIX Cash: High: 14.75 - Low: 12.09
VIX Options: Total 5.71M (3.84M Calls, 1.86M Puts). VIX shunned as few bumps seen for S&P 500 at years end.
International Vol review: Its official - America is now No. 2
Oil Volatility: Oil futures slide on Saudi price cut to U.S.
Gold Volatility: Hard to be a bull in this gold market.

Listener Mail: Listener questions and comments

Question from Michael Roberts - I came across your program while looking for new diversification options for my clients. I find your suggestions about collars and protective puts very interesting. I have also been reading new research about volatility itself being positioned as an alternative asset class. This leads me to two questions:
Do you agree that volatility is an asset class?
What is the best process to gain exposure to that asset class for my clients? Is simply buying an options with a substantial vega component sufficient, or must I purchase a dedicated volatility asset such as VIX options or an ETF life VXX?
Question from Joe Hill - SPY vs SPX vs e-Mini Options Question. Hello from Georgia. I know that these products are supposed to be similar from an implied volatility perspective, but how similar are they really? After all, they are distinct products, each with its own volume and customer flow. Do they all trade in a similar fashion, or are there times when these products will exhibit discrepancies. Last - Can we get a show on just commodity vol on of these days? Thanks for your time.

Volatility Views 137: Crying Wolf in Volatility ETPs

Volatility Review: The week in vol:

Global Derivatives Event: It was nice to see a lot of Vol Views listeners and former guests! Sell implied when VIX is low, buy implied when VIX is high.
VIX Cash: High - 15.74, Low - 13.13
VIX Options: Total 4.34M (2.89M Calls, 1.46M Puts)
VXST: Another weird volume week - 300 to 3,000 contracts on various days. Total 11k (8305 Calls, 2801 Puts)
A Review of Jared's Vol ETP Report - Crying Wolf: What the VIX alarmists are missing.
Crude Vol: Nat Gas and Oil

Volatility Voicemail: Listener questions and comments

Question from IndyJoe - I saw Marks tweet about buying high VIX/selling low VIX this week. Can he clarify what he meant by that? Seems counterintuitive.
Question from Pat Cummins - I think the pounding the VIX has taken lately is overdone. I am bullish volatility in the long term. Question: What is the best way for me to express that view? You have already dissuaded me from buying VXX as that is clearly the road to ruin. Would I be better off buying and holding a 1-year future? Or is there a third option I am overlooking
Question from Alagory - Which is more overpriced - VIX calls or SPX puts?

Volatility Views 136: Oil Volatility and VXST Volume

Volatility Review: The week in vol

VIX Cash: VIX rallies - the market rallies has been a big story of this week. A lot of outlets have been jumping on the train.
VIX Options: 2.3/1 call/put
VXST: A decent week from a volume perspective. OI now at 10,244 (8,015 Calls/2,229 Puts)
Introducing the launch of Treasury VIX futures.
Crude Vol: XLE, Brent and WTI

Listener Mail: Listener questions and comments

Question from Timinc - Hello volatility views hosts. I appreciate your fine program although much of it exceeds my expertise. My question involves the Black-Scholes formula. I’m a student studying quantitative finance and we’re learning about this formula now. My professor stresses the value of this formula but is it still widely used in industry? Do I need to study Black-Scholes in order to get a derivatives quant or modeling job after I graduate?
Question from Alan Baxter - What is the best source for data on trading activity in the volatility swaps market?

Crystal Ball: Reckless, wild prognostication ensues. Jared flies solo in looking at the year ahead.

Volatility Views 135: Under-the-Radar Swiss Gold

Volatility Review: Vol premium over the past week. Implied volatility vs. realized volatility. Vol Commodities: Oil, currencies, etc. Russell 2000 - RVX

VXTYN - introducing the new 10-year volatility product.

Crystal Ball: What are we looking forward to in the coming weeks?

Volatility Views 134: Earnings Surprises and Greenspan Gold Fades

Volatility Review: Big surprises from an earnings vol/straddle perspective this quarter. AMZN - Sold off about $30. LNKD - Closed at $202.50. TSLA next week. CBOE this morning.
VIX Cash: 17.87 - 14.04

VIX Options: Total 6.53m (4.46m Calls, 2.08m Puts)

VXST: Total 4927 (4918 Calls, 9 Puts)

Volatility Voicemail: Listener questions and comments

Question from Phillipono - Are there any good tools out there for comparing realized to implied volatility and determining the best times to sell premium?

Volatility Views 133: Skew Inversions and Dynamic Hedges

Volatility Review: The week in vol

VIX Cash: Most major indices up on the week - volatility returns to Rocktober. High - 23.08, Low - 15.56.
VIX Options: A whopping 6.14M contracts total.
OTC Volatility: Volker rule and its impact on liquidity.
VXST: When is it going to catch fire?
Oil/Energy: Strong investment skew, heavy puts activity.
Metals: An outlook on gold/silver volatility.

Volatility Voicemail: Return of the Don

Comment from Don S regarding this listener question - "Let me leave you with this question: Long term which do you think will outperform - dynamically hedged SPY ATM straddle or dynamically hedged VIX straddle? They should be roughly equivalent but clearly they are not."

Not sure anyone addressed this in a satisfactory manner. When you dynamically hedge an ATM straddle (meaning keeping it reasonably delta-neutral throughout), you are making a bet that the implied vol at which you buy or sell the options will turn out to be lower/higher than the actual volatility that the underlying goes on to display during the life of the trade. So, the first decision to make, which the writer did not address, when he asked about outperformance, is whether he was of a mind to be long or short the straddle. Naturally, being of sound mind, the only acceptable thing to do is to sell the straddle (!), as, historically, the implieds of the options are virtually always higher than what the realized vol of the underlying turns out to be.

So, now that we have decided to sell these straddles and dynamically hedge them, trying to earn the spread between implied and realized vol, the question is, which underlying might provide, on average, the better profit potential. Typically, SPY implieds average 2-4 percentage points over realized, but, of course, there is great variability in that spread, which even goes negative, ever so briefly, from time to time.

Unfortunately, I no longer have access to the comparable numbers for VIX, but, of course, we are now talking about making a bet not on the volatility differential between implieds and realized for an equity index, but rather for implied volatility itself (VIX), which means that the values we are dealing with are much higher (in the 90s, as opposed to in the teens). Again, I do not have the numbers, but I am guessing that the average spread between what amounts to implied vol of vol and actual vol of vol is somewhat greater than that of those same concepts applied to SPY.

Soooo, I am guessing that, for the strategy under discussion, the vehicle of choice would be VIX, and, of course, it goes without saying that the only sane thing to be doing with the straddle would be to sell it. :-)

Perhaps, next show, you would like to throw these ideas out there to see what everyone thinks. Regards,Don

Crystal Ball: More reckless guesses about volatility going forward.

Volatility Views 132: Wearing Tin Foil Hats in Crude Oil

Volatility Review: A week in volatility

VIX Cash: Quite a week for VIX cash.
VIX Options: Again, serious volume in VIX options this week. Top OI Positions: 367,046 VIX Nov-14 20 calls, 354,540 VIX Oct-14 17 calls, 244,354 VIX Jan-15 20 calls.
VXST: Another wild market day - another mild volume day for VXST, only 858 contracts traded on Thursday.
Energy: Saudi Arabia keeps the oil market guessing.

Volatility Voicemail: Listener Questions and Comments

Question from Neal Max - Sounded like you guys were a little skeptical regarding the VolDex product. What do you think of this products chances of actually making it to market? Do you think it has a shot against VIX?

Crystal Ball: Insane, compliance-offending predictions regarding volatility.

Volatility Views 131: Breaking Down VolDex, SkewDex and TailDex

Volatility Viewpoint: Today’s guest is Scott Nations, president and chief investment officer NationsShares. NationsShares and ISE have partnered on a new volatility product – Voldex. He discusses:

Why is this methodology superior to the current VIX methodology?
How would Voldex have performed over this crazy week period compared to VIX?
Why do we need this product?
Does he expect traders to abandon VIX for this or instead using it as a spreading tool?
An overview of two new planned additional products, Skewdex and Taildex.

Volatility Review

VIX Cash: Insane realized and implied volatility this week. Range: 14.05-19.38.
VIX Futures: VIX cash trading at a premium to all futures except April 2015.
VIX Options: Nearly 1 million contracts on Thursday.

Crystal Ball: Jared and Andrew guess vol recklessly.

Volatility Views 130: Talking Volatility Skew

Volatility Review: What happened last week in vol?

VIX cash: A decent range this week. Non-farms taking the remaining juice out of the market.
VIX options: Top OI Positions: 351,982 VIX Nov-14 20 Calls, 339,931 VIX Oct-14 17 Calls, 317,207 VIX Oct-14 20 Calls.
Big VIX Trades: Today (Friday) paper traded 457900 VIX Oct 19 calls for $.86 & paper traded 54,997 VIX Nov 23 calls at $.94.
Gold vol: GVZ ticking up over the past few weeks - futures options still put heavy.
Oil vol: Continued put love in crude as well.

Volatility Voicemail: Listener questions

Question from Crazyhorse - Can some of the roll yield problems suffered by VXX and others be solved by either 1) rebalancing on a less frequent basis or 2) trading a basked of futures as opposed to simply buying the same long term contracts every time?
Question from Chris Hanks, Toledo, OH - Hola volatility gang and perhaps special guest. I am a frequent listener and wanted to write in to say thanks for putting out this show every week. My Mondays suck but I get a nice little pickup on my commute when I download the latest episode of Volatility Views. I do miss Don's "sold to you" attitude, but I am sure you will get him back on one of these days. No one gets as fired up about selling vol as Don S. Let me leave you with this question: Long term, which do you think will outperform - dynamically hedged spy atm straddle or dynamically hedged VIX straddle? They should be roughly equivalent but clearly they are not.

Crystal Ball: Jared and Mark make mad prognostications.

Volatility Views 129: Juicing Up BuyWrites

Volatility Viewpoint: Today’s guest is Russell Rhoads, who is a senior instructor at CBOE’s Options Institute. He’s on to discuss a new white paper, A Leveraged Portfolio Management Approach Applying The CBOE S&P 500 2% OTM BuyWrite Index.

Summary: Historically, the CBOE S&P 500 2% OTM BuyWrite Index has outperformed the total return that would be expected from passively holding a market portfolio. This outperformance occurred on both an absolute and risk-adjusted basis. Additionally, a leveraged strategy that matches 120% of the expected performance of BXY may enhance this performance with a similar risk profile to the market portfolio.

Volatility Review: The week that was

VIX Cash - A relatively quiet week until an enormous pop on Thursday.
VIX Futures - further developments in VIX Futures term structure.
VIX Options - Hot Strikes: 326,209 VIX Oct-14 20 Calls, 296,305 VIX Oct-14 17 Calls & 290,453 VIX Nov-14 20.0 Calls.
VXST Options - On a day when VIX spikes 18%, there is still no interest in VXST.
RVX actually trading a bit on Thursday. Gold still skewing towards puts - Silver puts starting to catch a bid as well.

Crystal Ball: Brazilian elections. Could we see another India-like surge in VIX? Non-farms ahead.

Volatility Views 128: Gold Skew Palooza

Vol Review: An update on the Alibaba IPO fury. VIX cash: High: 14.53. Low: 11.73. VIX futures: September settlement at 13.03 - right in the middle of the range.

VIX options- hot strikes:

281480 VIX Oct-14 16.0 Calls
253852 VIX Oct-14 17.0 Calls
248014 VIX Oct-14 20.0 Calls

Top trades:

4.4/1 Calls over puts. Paper sells OCT 18/21 call spread 16, 020 times for $0.18. Paper buys 5k DEC 25 calls for $0.67.

VXST Top OI Positions:

1000 VXST 10/1 12.0 Puts
800 VXST 10/1 25.0 Calls
500 VXST 9/24 14.0 Calls

Gold/metals vol: Gold skew looking somewhat steep to the downside.

Volatility Voicemail: Listener questions and comments

Question from John King ‏@jking321 - Could you do a show with an in-depth discussion on LiveVol vs IVolatility vs? Costs/benefits over std broker data etc. Thanks!
Question from Indy04 - This might be a strange question but does implied volatility always exist? Are there options out there that essentially trade at their realized volatility level or some other type of riskless rate? Keep on rolling with the show. I love it. Big fan of the network.

Volatility Views 127: Diving Into Treasury Volatility

Volatility Review:

VIX Cash: Catching a bid today as the market finally said farewell to the 2,000 Strike.
VIX Options: Calls are trading at a ratio of 13 to 1, with the biggest trade being a buyer of the Oct 22 calls. Call/Put Ratio - 3.8/1
VIX recalculation (part 2). CBOE Futures Exchange (CFE) announced today that it plans to launch futures trading on the CBOE/CBOT 10-year U.S. Treasury Note Volatility Index (ticker symbol VXTYN) beginning on Thursday, November 13, pending regulatory review. Metals, Energy and International vol.

Volatility Voicemail: Listener questions and comments

Question from Victor C - Do you think the failure of VXST has to do with the product being too much vol of vol for most people? Is it just too wild of a product for the mostly institutional VIX crowd?
Question from Señor Pablo - Thanks for the show Mark, and please say Hi to Jared and Andrew for me. You guys have mentioned some of the VIX competitors in the past. It looks like we will probably get at least one of them, if not both this year. Which one, if any, do you think has the best chance in the marketplace?
Question from AltasSmirked - What is a reasonable skew level for the SPX? At what level should I be looking to buy puts? Where should I be thinking of selling them?

Crystal Ball: Wild volatility prognosticating is in the house.

Volatility Views 126: A Big VIX Shakeup

Vol Review:

VIX Cash - A shortened holiday week. Market selling off a bit on Ukraine, after news of a cease fire. Non-farms a non-event.

Volatility story of the week - CBOE Incorporates SPX weeklies in VIX calculation starting Oct 6.

Question from Spreadjunkie - CBOE bringing SPX weeklies into the VIX calculation - Is this a game changer?

VIX Options - 4.1 Call/put. VXST. RVX - Not much going on, only 504 OI. Gold/metals volatility. Scottish independence?

Volatility Voicemail:

Question from Nick Valenti - I am glad to see you are adding more volatility products to the show including the new Russell VIX. I trade RUT and IWM options very actively and I have been watching this product with great interest. I have yet to pull the trigger on a contract, but I have been close a few times. Like a lot of people, I am still waiting for other traders to join me before I dive into the deep end of the pool. What do you think it will take to kickstart this product? What will the eventual catalyst be for this?

Comment from Johnny Mac - My Vol pet peeve is people quoting skew with a "25 delta risk reversal" - wake up people! It is a 50 delta risk reversal. Thanks for letting me get that off my chest.

Question from Nickel5 - I know Jared is a reformed iron condor trader. Do these relatively low levels of implied volatility in SPY make him want to get long some condors out there? Maybe in the Oct cycle? Also what is his view on the diagonal condor - buying longer-term guts and selling front month/weekly wings?

Crystal Ball:

Reckless prognostication of VIX, VXST, RVX and other volatility products.

Volatility Views 125: The Holiday Fear Premium

Volatility Review:

A bit more volatility this weekend as opposed to last, because of the US Labor Day weekend. Trader taking time delay/Vol out of the market ahead of the weekend? VIX Cash. Trading in the 11.24-12.73 range. VIX Options. 4.2/1 - Call/Put. Top OI Positions: VIX Sep-14 19 C, VIX Sep-14 20 C, VIX Sep-14 16 C. VXST Options. RVX Options. Metals Vol - GVZ down about a point this week. Energy Vol - Oct WTI realized vs. ICE heating oil implied intersecting.

Volatility Voicemail:

Question from Silas - Congrats to the Vol Crew on such an excellent program. I enjoy all of your analysis, particularly the addition of volatility breakdowns in other asset classes, including crude oil. Ia, starting to dabble more into these asset classes, but I am somewhat dismayed at the overall lack of tools for analyzing these products. What software do you typically use when breaking down volatility in products like curve oil? Thank you again for the fine program.

Question from George Dietrich, Baltimore, MD - Are commodities better candidates for hedging strategies such as long puts, or spec strategies such as strangles, because they typically lack the high implied volatility levels in the lowing strikes?

Crystal Ball:

An outlook for VIX, VXST, RVX and other volatility products.

Volatility Views 124: Volatility Pairs Trading

Volatility Review: Yellen and Putin both, but not collectively, having an effect on volatility. VIX futures: August settlement comes in a little more in line, as opposed to last month. VIX options: Top Strikes: Sept 19 calls, Sept 20 calls, Sept 16 calls. VXST options: A lot of activity in VXST: Aug 17 calls 1,500 contracts. RVX options.

Volatility Voicemail: Listener questions and comments.

Question from Vizible ‏@VizibleApp - What happened to Don S.? Sorry if we missed something, but loved him on the show. Great #podcast btw!
Question from NOVIX - I have read some material related to pairs trading for equities and I understand the process of finding non-stationary pairs price series that can be co-integrated to form a stationary series. The basic idea being to trade on the oscillations about the equilibrium value of the spread. While I understand how this is accomplished with equities, I am not sure how suitable implied volatility pairs on equity options are identified since both implied volatility series would already be stationary and so co-integration would not be required. Can someone please explain to how suitable implied volatility pairs are identified?
Question from T. Stark - Great podcast. I cannot start my week without my dose of Volatility Views. You guys really do a great job breaking complicated stuff down so that even non-pros like myself get it. The one area where I’m still somewhat confused comes in the relationship of implied vol across an expiration month. I realize that when you say October vol is X you are referring to the at-the-money volatility. But how does that at-the-money volatility relate to the rest of the strikes? If the ATM volatility gets crushed do all the rest of the strikes get crushed along with it? Or are there scenarios where only a few strikes are impacted but the rest are not? How does this relationship work? Are there models or greek variables that explain the volatility relationship between one strike and another? Thanks again for walking this noob through this stuff. Fan for life.

Volatility Views 123: VIX Roars but VXST Whimpers

Volatility Review: The week in vol

VIX:

Russia sends tanks into Ukraine and volatility skyrockets
Volatility plummeted after US involvement in the Middle East.
CBOE stock as a hedge.

VXST:

Big moves in only 24 contracts.
Why is this product not catching fire?

VIX options:

Settlements coming up soon.

Metals:

GVZ dropping earlier this week, but taking a spike recently.

Volatility Voicemail: Listener questions and comments

Question from Lawrence - You were discussing if straddle prices exceeded earnings moves on your last show. I use software called "LiveVol” that has data for the trailing eight quarters, that shows this data for every company for the first and second expiration. It also shows implied vol crush for the first and second expiration. Their software is amazing. I like to sell iron condors before earnings to get short Vol. I usually use unbalanced condors with a short delta. I feel the underlying moves down for often and more violent. If the underlying moves up, the short Vega reduces loss a bit, in addition to the post earnings crush, as longs sell their protective puts. Love the show!

Crystal Ball: Where will VIX settle?

Volatility Views 122: Goldman Straddles and Buffett Puts

Volatility Review: VIX cash range: 14.69-17.30. VIX futures trading above cash for quite a bit this week. VIX options 3.4/1 call/put ratio. Top open interest positions:

273,733 .VIX Aug-14 16.0 C, chg +7148
262,146 .VIX Sep-14 19.0 C, chg +1029
221,559 .VIX Sep-14 21.0 C, chg +24

VXST OI: 3037, ADV: 832, 4.2/1 call/put ratio

RVX OI: 591

Goldman analyst events study http://www.docstoc.com/docs/158693818/Goldman-Sachs from Trading-Events-Analyst-days. Studied 3,700 analyst days from 2002 to 2012. Twice as positive for stocks vs average day. Analyst days are more significant if held far after earnings. Checking in on Warren Buffett’s equity index put trade by Russell Rhoads, CFA.

Volatility Voicemail: Listener questions and comments

Question from Rueben Brooks -Listened a while back to a show you and Jared did talking about N. N. Taleb and how you were surprised that, given his long-gamma leanings, he would short the ATM straddle. I found this interview he did a while back, curious on your thoughts: http://www.fxtsp.com/education/fx-trader-interviews/834-interview-with-top-trader-nassim-nicholas-taleb.html One other thing: I was very intrigued by a show you did a while back with Chris Cole over at Artemis capital. I was fascinated by his papers and his exploration of volatility arbitrage. Do you have any resources or books you could recommend where I could learn more about this? I really appreciate all the work you do. You have been by far the best resource, and aggregator of resources, regarding options education that I have found. If you end up addressing any of this on a show, could you let me know which show so I make sure I don't miss it? I try to listen to Volatility Views, Option Block, and Options Bootcamp. Thanks for your time, -Reuben

Volatility Views 121: Something Is Odd with Volatility Skew

Volatility Review: VIX hovering around 16 one handle higher than it was last week. VXST is averaging around 18. Volatility skew - some very strange occurrences this week.

Volatility Voicemail: Listener questions and comments.

Question from TiklenIvory: What is the best way to short VIX? Straight up VIX puts, or go long XIV?
Question from James Forrest: I liked the conversation regarding straddle volatility going into earnings. I agree that there should be more research into this area. Jared, I would happily add my $5 to the mix, if that will spur you into action. If you had to guess right now, what percentage of Fortune 500 names do you think outperform their straddle in any given quarter?
Question from Eligo: RE: Straddle debate from episode 120. Should any straddle research into earnings incorporate dynamic hedging into the results? For example: If the underlying does not net outperform the straddle, but there are multiple opportunities to dynamically hedge during the trading session, it would net be profitable. Should this be incorporated into any future straddle research, or does this add too much complexity to the equation?

Crystal Ball: How long can volatility stay in the low teens? What could possibly cause a move higher?

Volatility Views 120: Breaking down Earnings Straddles

Volatility Review: A little calmer week, at least compared to last week. VIX Options:3.8 calls to puts - way off the charts! Top open interest positions

245,725 .VIX Aug-14 15.0 calls
241,232 .VIX Aug-14 16.0 calls
238,364 .VIX Sep-14 19.0 calls

Decent movement in RVX, but no appreciable volume to accompany it OI: 470. Crude oil stable following recent volatility hovering around 14%.

Volatility Voicemail: Listener questions and comments

Question from Nick Snow - Figured this would be a good place or at least the right place for this question. What is implied vol? I mean to ask for a stock we just get one number but every strike has a different IV so when we get one is that the average of the smile or is it the ATM straddle vol? Seems like I should know this if I am trading it.
Question from Mr. Higgins - Dear volatility viewers - the Proshares Ultrashort VIX (UVXY) hit a low in June. I though the spread between VIX cash and UVXY would continue to expand, but UVXY seems to have leveled out. What is your analysis of the trading relationship between these two products? Are they reliable spreading candidates? I am not much for futures so I would probably stick with straddle in each to capture the divergence. Thanks for the program - please give my regards to Don.

Volatility Views 119: Craziest Week Ever

Volatility Review: crazy week for VIX cash. It had a range of 10.59 to 15.38this week. Thursday: largest jump in over a year -- the day after Jul options settled at a 7-year low settlement print of 11.03. VIX takes big jump on Ukraine, Middle East worries. Set against another Malaysian Airlines crash and rising Middle East tensions, the VIX had its greatest jump in more than a year on Thursday, closing at 14.54, up 32.18%, this represented the VIX's greatest rise since April 2013, reported Bloomberg. Gold jumps 1.5% after plane crash. GLD options breakdown: 2.1 calls to puts, Aug IV - 14%. Has been mostly hovering around 12% recently. Malaysian crash wreaks havoc on wheat futures market.

Volatility Voicemail: Listener questions and comments

Question from George: I do not know whether the VIX index or the implied volatility and historical volatility of the SPY ETF can be better indicator to make sure where the SPY, so the most assets, head. How do you use these indicators together for your work? I would use other indicators too such as moving averages, volume underlying price, RSI and other major supports and resistance levels of the underlying prices. Thank You. Regards, George
Question from Anthony: I just downloaded the CBOE skew index data and worked a little excel fu. The average of the skew index since inception is 117.43. It went out on Wednesday at 134.86 - if my reading of this is correct then that shows a substantial premium to SPX puts going into Thursday’s correction - which says a lot of people were hedged? Of course this is substantially lower than the recent high of 143.26 set on 6/20. So apparently fewer people were concerned about a selloff prior to the actual drop. After Thursday’s selloff the index dropped again to 131.65. That surprised me since I’d think the panic would spark more put buying. Does this indicate the market isn’t as concerned as the selloff might initially indicate?

Volatility Views 118: The VIXFather Turns on His Creation

Volatility Review: VIX Cash: the week’s range was 11.01-13.23. Thanks to concerns about Portugal's banks repaying debt, Europe's VStoxx Index and the VIX jumped on Thursday. Will earnings season usher in volatility? VIX Options. VXST Options. SPX Skew. Robert Whaley, the inventor of the CBOE Volatility Index, or VIX, warned that investors are not getting what they pay for when they buy volatility-linked products. Mr. Whaley, now a professor at the Vanderbilt University Owen Graduate School of Management, addressed the issue of their effectiveness on Thursday at ETF.com’s Global Macro ETF Strategist Conference in New York.

Volatility Voicemail: Listener questions and comments

Question from Morgan Shebanek - Owwwwww!!! Just downloaded the mobile app. Pretty nifty even if it is redundant as all pertinent episodes are automatically put into my Podcast Que. Enjoyed the latest episode and yes I can attest as to the accuracy and timeliness of your "Vol Call" As a retail investor who has a couple regular accounts but no futures trading capability I have a question. So I want to utilize a trade on Vol? Ok, what the heck am I supposed to use?? TVIX & VXX? They look like terrible products. VXST? Can't trade it. The options are listed but when I tried to trade? No go. OoooK. So I feel like I am left using puts on SPY or QQQ. Maybe some RVX if the Small caps look like they are going to roll but I digress. Please help me find the proper product. I am not looking to hedge but rather playing a "trade" in Vol when I feel the timing is correct. Thanks for all the Mad Knowledge. Keep it up!

Crystal Ball: An outlook for VIX, RVX, VIX ETPs and other volatility products for the upcoming week.

Volatility Views 117: Getting Your Face Ripped Off By Vol

Volatility review: VIX cash had a range of 10.92 - 12.51 last week and has been on an uptrend for most of the week. A look at VIX futures. A riddle from Don. VXST, RVX options. Gold/metals vol: GVZ range of 12.64-13 last week. General downtrend in gold vol after sharp spike the prior week

Volatility Voicemail: Listener questions and comments

Question from One of the Men ‏@optionideamen: @Options VXX going to collapse into the 4th of July holiday. Buy the 7/11 28p. Winner. U can thank me later. Freebie.
Question from Atlantan - I find the topic of volatility ETPs and their net impact on volume in the primary products very interesting. When products like VIX futures were conceived the notion of retail trading those products was inconceivable. To say nothing of retail oriented VIX products like VXX and others. But it seems like these products are the big drivers of volume these days. I might even go so far as to say they are essential. Do you agree? Is it even possible in the current environment to have a successful volatility future or option without a related ETP providing a steady source of volume? Fun show. I look forward to my weekly dose of all things volatility. Any chance of some ag vol rundowns in future episodes?
Question from Giuseppe Varino - To what do you attribute the recent vol divergence between the VIX and the Russell 2000? It seems as though Russell vol was unjustifiably inflated. Or do you feel this premium was justified? Do you expect this scenario to reemerge anytime soon or was this a relatively one-off situation?

Volatility Views 116: The Mystery of Gold Volatility Futures

Volatility Review: VIX cash hovering below the 11 handle yet again and the narrative has shifted from "VIX is too low" to "We may see a single digit VIX soon," which Andrew predicted this not too long ago. Top OI Strikes: July 13 Put - 416K, July 16 Call - 385K, July 20 Call - 371K & Sep 19 Call - 261K. RVX: OI still hovering around 5K contracts.

Janet Yellen torpedoed a key catalyst for market volatility, characterizing the recent inflation data as "noisy". GVZ jumps 20% in one session. Oil volatility returns on Iraq fears. Currency volatility plummets.

Volatility Voicemail: Listener questions and comments

Question from J. Ingraham: loved the discussion of GVZ on the network this week. I’m very intrigued by this product. Like Mark said, GLD and VIX should be two great tastes that taste great together. Yet this product does no appreciable volume. I’ve tried to trade this several times but the lack of volume and terrible spreads kept me out of it. Why do you think GVZ has essentially failed as a trading product?
Question from Cigar Store Indian: Great show. Thanks for breaking down the problems with volatility ETFs like VXX. I’ve dumped that product from my portfolio after listening to your program. Thanks for helping me dodge a bullet on that one. I also have a question about another ETF product GLD. This product doesn’t seem to have the same issues with regards to term structure. Am I correct in the estimation that this product is safe to buy and hold in my portfolio for longer than a few hours?

Crystal Ball: An outlook for VIX, RVX, VIX ETPs and other volatility products.

Volatility Views 115: VIX Says Poo to You

Volatility Review: VIX cash broke the 11-handle last week while we were recording, but it has since rebounded over concerns in Iraq. VIX futures started to see some backwardation creeping into the curve last week. Is that still the case this week? The death of volatility forces traders to get creative. The Economist asks "Is this the calm before the storm? Bank of America's market risk index falls to lowest level since 2000.

Iraq concerns spike crude price and volatility.

Volatility Voicemail: Question from Indigo Blue - What’s up with gold volatility? The contract is selling off like mad and yet volatility is at near record lows. I have been taking advantage of this opportunity to load up on some GLD premium, primarily verticals. I have also been think about ratio/repair trades in the gold futures options. Thought on this crazy gold volatility environment?

Question from VIXinator - Do you think this is a good environment for a cheap VIX vertical - maybe Jul 16/20 CS for $.35 or Sep 17/20 CS for $.60?

Question from Andy Braga - What do you think about Apple as a dispersion candidate going forward? Do you think the split will take the wind out of its sails from a volatility perspective, or is it perhaps more attractive here?

CRYSTAL BALL

An outlook for VIX, RVX, VIX ETPs and other volatility products.

Volatility Views114: The VIX Is Dead. Long Live the VIX.

Volatility Review: Another slow week from a vol perspective - VIX Cash vacillating around 11.50 most of the week. Is VIX and volatility too quiet? Is the VIX too cheap?

VIX and VXST options. New volatility ETFs launch. Gold volatility hits 14-month low.

Volatility Voicemail: Listener comments and questions.

Comment from Angelthorn - Great show last week guys! Finally people not afraid to stand up to the "VIX is cheap" hype machine and back it up with some data. I am join to sell some Vol in your honor.
Question from George - I do not know whether the VIX index or the implied volatility and historical volatility of the SPY ETF is a better indicator to make sure where the SPY and indeed most assets are headed. How do you use these indicators together for your work? I would use other indicators too, such as moving averages, volume underlying price, RSI and other major supports and resistance levels of the underlying prices. Thank You. Regards, George
Question from TheAnalyst - I was able to track down a copy of recent BGC research notes through a colleague. I found a comment in the most recent research note, surprising given recent statements to the contrary on Volatility Views. “The one month implied volatility of VIX options as measured by VVIX was featured in our last Volatility Tracker update, and the estimate remains near record lows. Given this discount, VIX options still look more attractive for equity portfolio hedgers than e.g. at the money SPX or SPY puts.” It was my impression from the last episode that the panel, particularly both hosts named Mark, took a dim view of VIX as a hedging tool. Yet the most recent BGC research appears to recommend them. I very much enjoy this program and hope you can shine some light on this discrepancy for me.

Crystal Ball: An outlook for VIX, RVX VIX ETPs and other volatility products.

Volatility Views 113: Fighting Low VIX Hysteria

Volatility Review: A truncated holiday week. VIX cash hovered around 11.50 most of the week. Call/Put hovering at a ridiculous 3.3/1. Is the volatility "crash" reason to worry? Record highs for nine CBOE indexes.

Volatility Voicemail: Listener questions and comments

Question from Jim Charles, Lexington, KY - I know your recent guest Euan Sinclair downplayed the VIX call/put ratio as being due to systemic issues with the products, but that indicator has only risen since that episode. Leading me to believe there is something to it. Where do you guys stand now on VIX call/put? Are we poised for a pop or is this just the result of the CBOE beating the mean reversion drum back to 20?

Question from Annabelle Schmidt - Your guys profiled a sizable VIX vertical call spread in the September expiration cycle. Mark mentioned that it might be tied to an OTC variance trade. Is there any way for customer to get more information on that dark portion of the volatility market? It seems that quite a bit of the daily activity actually occurs in the OTC realm, so we are only getting half the picture if we just look at listed VIX trades. Great show! Great discussions! Hopefully Jared will stay on the program now that he has a new job.

Question from Sienna78 - S&P 500 at record high, VIX at record low, portfolio looking good. VIX Aug 12/16 calls for $2 or SPY Jul 190/170 puts for $2.30 - best protection?

Crystal Ball: An outlook for VIX, RVX, VIX ETPs and other products.

Volatility Views 112: How Low Will It Go?

Volatility Review: VIX cash broke the 12 handle - drifted to a low of 11.68. Is the VIX in a deep sleep? Or has it permanently changed? Is low volatility here to stay? India VIX slumps post-election.

Volatility Voicemail: What do you want to know?

Question from CNans - Gamma vs. Vega scalping - You have discussed gamma scalping on early episodes, as a way to pay for long volatility positions. Is it not also possible to scalp vega by legging into spreads intraday? Or is scalping a particular activity linked to gamma trading? Would it be possible to do a show entirely devoted to listener questions? That is my favorite part of the program because I always learn so much from your answers.
Comment from Sly @sportsmentalist: Hey Mark, really enjoyed the Vol views episode with Sinclair. You should do more quant oriented episodes

Volatility Views 111: Volatility Trading

Volatility Viewpoint: Our guest today is Euan Sinclair, Trader at Bluefin Trading, and author of Volatility Trading and Option Trading.

Volatility Voicemail: Reader questions and comments

Question from SoloHan - Great show! Just discovered it and I am working through the back catalog as we speak. I just have one question so far, and I apologize if you have covered this in the past. I am an avid VXX trader. It’s a core component of my portfolio along with SPY and FB. I have heard Mark dismiss TVIX in the past as only for very short- term trades and if you by-and-hold VXX, you will lose money. Can you explain this please? What am I doing wrong by investing in VXX? Thanks again for this insightful program.
Question from Sea Shanty - Can you please explain the difference between RVX options and IWM options? Are they not both ways to trade Russell volatility? Luv the show. Mark is a great host and Jared brings that rural Virginia sensibility to volatility. Keep ‘em coming

Volatility Views 110: Is Volatility Dying?

Volatility Review: April volume numbers are in. Is volatility dying? A new volatility index fund will launch soon in Australia. Demand for VIX future remains low in India despite high volatility. Volatility review in other asset classes including: ags, metals and fixed income.

Volatility Voicemail: So many questions!

Question from Allan S - I hear a lot about gamma scalping on the network. But what about volatility scalping. Isn't that really what you're doing? Aren't most options traders really volatility traders? Thank you for clarifying.
Question from Jim Thompson, New Mexico - What does the volatility panel think of flash boys - particularly as it pertains to Volatility. Are these same players active in derivatives and, if so, are they causing our exacerbating volatility? Great show Mark. Jared has been an excellent addition to the team.

Crystal Ball: An outlook for VIX, RVX, VIX ETPs and other products.

Volatility Views 108: VIX & More with Bill Luby

Volatility Review: Today’s guest is Bill Luby, founder of the VIXandMore.com blog. It was a relatively quiet week for VIX, mostly drifting down toward the 13 handle until today. An aggressive selloff boosted volatility across the board. VIX Futures are catching bids as well. VIX options activity today: 4/1 calls over puts. Is there any sign of life in VXST?

India VIX reaches record highs. Kospi 200 volatility index hits record lows last week.

Volatility Voicemail: Panels for advisors, volatility re: valuations, earnings, scanning tools, and more.

Question from Sanjay Patel - I have to agree with the hosts regarding the discussion from episode 104 regarding VIX ETPs and RIAs or family offices. I have been active in the advisor community for several decades, following all of the latest research and attending many industry conferences. I have never encountered a single study or panel devoted to this issue or a fellow advisor who utilizes these products. My evidence is all anecdotal but I would think that if advisors made up a significant portion of those flows I would have encountered that by now. I just wanted to share my thoughts with your listeners. Thank you for reading my question. Please continue to produce this fine program as well as the Advisors Option. They speak to very unique audience.
Question from Even_Star - Is it possible to run options valuations models using actual rather than implied volatility levels? I think this would give a truer approximation of the options value when you strip away all of the nonsense that comes from implied volatility.
Question from Haweye - Aside from Apple last week and Google last cycle, it seems like most companies are dramatically underperforming their straddles during earnings season. Microsoft and Amazon are simply the latest names to fall victim to this trend. To what do you attribute this trend? Why are traders so consistently overestimating volatility going into earnings announcements this year? This would seem to be a good environment for a risk defined premium harvesting strategy, such as an iron condor or iron fly.
Question from James Norman - Love the Volatility Views show. Great content. Great guests. Keep them coming. I would like to ask a question about tools, in particular scanners. You have discussed scanners for unusual activity and changes in implied Vol on previous shows. Do you know of any tools that scan for changes in implied volatility skew? I am looking to capture skew distortions that allow me to leg into verticals, ratios and risk reversals at highly attractive levels. Does such a tool exist? I did not know where else to turn, but I know Mark and the Volatility Views team will not let me down!

Crystal Ball: FOMC, Q1 GDP, ISM and the employment report (plus earnings) - all in one week!

Volatility Views 107: Another Day, Another Selloff

Volatility Review: Another day, another selloff. VIX cash pops one handle to nearly 17. VIX call/put hovering around 2.6 - high but not at all-time highs. VIX cash trading at a premium to near-term futures. Does the VIX "fully" reflect the markets fear? CBOE launches a new Vol product - Short-term Volatility Index (VXST). Emerging market Vol preview.

Volatility Viewpoint: What was Russell’s take on RMC this year?

Volatility Voicemail: International VIX?

Question from Vegaman - Great podcast. Love the recent rundown of RMC since I’m never able to attend the show. My question - do you know if any international versions of the VIX are in the offing? You’ve discussed the India VIX on previous shows but that seems to be the only non-U.S. version that gets mentioned. Thanks to the folks at Russell for making this great show possible. Oh - and I’m streaming the show while submitting this question from the mobile app. Very cool.

Crystal Ball: An outlook of VIX, RVX, VIX ETPs and other volatility products.

Volatility Views 106: HFT and Volatility

Volatility Review: It was a mild week with the VIX around the 13-handle for most of the week. Did premiums increase going into the non-farms announcement, or did the market shrug as with other recent non-farms? March VIX futures rose 20% year-over-year. VIX futures also set a new quarterly volume record when 12.38 million contracts traded, up 35% compared to the first quarter of 2013.

Volatility Voicemail: You direct the conversation

Question from George - Big fan of the show - been listening for years. I think Jared is a great addition to the panel. There is a lot of talk about HFT firms manipulating stock markets in the wake of the Michael Lewis book Flash Boys. I have seen lots of talk about price manipulation, but I keep coming back to all of your discussions on Volatility Views, and it makes me wonder - why is no one talking about volatility as it relates to HFT? Are the firms adding volatility to the marketplace? Could these firms be responsible for a lot of the vol of vol that we see in the marketplace right now? Particularly in very active name or in some of the volatility ETFs? Keep up the great show!
Question from EVO16 - I am a regular user of VXX. I have heard you refer repeatedly to the cost of rolling this product and how it negatively impacts holders. Is there anything I as a regular VXX owner can do to minimize this? Are there other ETFs out there that attempt to do this?

Crystal Ball: An outlook for VIX, RVX and VIX ETPs.

Volatility Views 105: Happy Anniversary, VIX!

Volatility Review: VIX Futures turns 10 years old! VIX spot products - when could we see them? Russell VIX and metals - gold volatility.

Volatility Voicemail:

Question from Burt Skerton - Hello Options Insider! I have been listening to your podcast for quite a while, and have been trading successfully as a result of the valuable information that you have provided, so for that I thank you. I am confused however about a situation I am seeing. I have a position in the VIX, where I bought the Nov 15 put for $0.80, with the underlying at the time of purchase listed at around 1,650. Today the underlying has dropped to around 1,300+, but the option is only trading around $1.30. It seems that the option should be worth more than that because it has about $2 of intrinsic value. So in theory, could someone with a large account just buy a few contracts, exercise them immediately, and sell the underlying on the open market for a huge profit? Thanks for clearing this up for me, keep on rocking!
Question from Brighton Capital - Very informative show with Jarrod Woodyard yesterday, do you have a similar post-FIA/Boca discussion in the works?
Question from @vikingwrath - The market is iffy here. What are your thoughts on UVXY in the short term?

Crystal Ball: USDA quarterly grain stock report coming out soon for ags. Interesting vol Products: a lot of vol in German renewables.

Volatility Views 104: Revisiting Risk Management

Volatility Review: Vol is being bid up. VXST options coming April 10, and the full day of VIX futures trading in mid-June. Nat gas futures tapering off a bit. Metals chat includes gold, silver and copper.

Volatility Viewpoint: A review of the many panels at the Risk Management Conference from this last weekend.

Crystal Ball: An outlook for VIX, RVX and VIX ETPS.

Volatility Views 103: The Russian Ripple Effect

Volatility Review: A mild selloff on the street caused by the ever-growing tensions in Ukraine. This would be a perfect time for VXST, but you will have to wait until April 10. TVIX gets a second life, whether it merits it or not. CBOE to expand VIX hours.

Volatility Voicemail: What do you want to know?

Question from Charles Engel - Is there any way to buy and hold VXX without paying the inherent roll risk?
Comment from IfThen - Bitcoin cut in half after Mt. Gox - talk about volatility!
Question from C-Bug - Are there any products on the horizon that you think can dethrone VIX from the volatility throne? Vol Dex?
Question from Tom Wills, Eugene, OR - I remember you discussing a VIX call strategy that could out-perform direct SPX put spreads on an older episode, but I'm not sure which of your 100 episodes it was. Please help!

Crystal Ball: An outlook for VIX, RVX, and other VIX ETPs.

Volatility Views 102: What Is a VIX Covered Call

Volatility Review: VIX jumped 14% on March 3 to nearly 16, with the tension in Ukraine, but on the following day fell 12%. Monday was the big day across the board for VIX, volumes trailed off the rest of the week. May 18/Aug 20 straddle swap - paper sold Aug bought may 5k-6k times for $1.65. A good month for VIX Futures. CBOE February VIX also hit record heights. More "showshine boys" from Chris Cole.

Volatility Voicemail:

Question from Bryan Tong - When will we get VXST options? Soon?

Question from Enten - If I buy and write VIX calls against it, is it technically a covered calls? Will my broker recognize it as a covered position?

Question from Declan Smith, Dublin - Why do so many people buy VIX calls to hedge their long premium SPX-SPY positions? Do they not know that they are already long the implied volatility of the S&P - aka VIX? If anything they should be selling those calls or buying puts.

Question from Tim J. - What is the settlement process for VXST?

Crystal Ball: An outlook for VIX, RVX, and VIX ETPs.

Volatility Views 101: Buying Vol at Any Price

Volatility Viewpoint: The team is joined by special guest Jared Woodard, Founder Clinamen Financial Group and Condor Options.

He gives an overview of the Vol Tracker and global map of implied volatility.
Goes over some of the interesting findings you pulled out of your piece "Buying Volatility at any Price".
Discusses his your take on what we have been seeing recently out there in the world of natural gas volatility
What he’s been seeing in the realm of currency.
Reviews how the premium levels in different emerging markets have changed since he wrote your piece "Emerging Market Confusion".

Volatility Review: Vol in the 20 range. Is this a long-term average? Will realized volatility catch another tail wind? The plethora of VIX products - Is it still a reliable index?

Crystal Ball: An outlook of VIX, RVX and other vol products/indexes.

Volatility Views 100: Volatility Tourists and Shoe Shine Boys

Volatility Viewpoint: This week’s guest is Chris Cole, Managing Director at Artemis Capital Management.

They discuss:

How he incorporates vol into his trading?
How he defines a low vol market?
His feelings about VXST?

Volatility Review: The first week of VXST. The long term Jan 30-40 put spread that went up this week. Was that risky? Playing the wait and see game with RVX.

Volatility Voicemail: Question from Neil Higgins, Birmingham, UK

What impact, if any, do you think the entrance of China into the options market will have on volatility? Will it spawn a whole nation of VIX call buyers? Also, what is your view on the performance of the India VIX vs. S&P 500 VIX? Is it a better barometer of market volatility since it does not have all of the ETP baggage that bogs down the US VIX? Mark if you ever take the show on the road to England, let me be the first to offer to buy you a pint. Great stuff all around.

Crystal Ball: What is there out there to inject some juice into the markets?

Volatility Views 99: Debunking BXM vs. PUT

Volatility Viewpoint: Jason Ungar, volatility researcher, co-creator on the Put-Write index with the CBOE, financial advisor, and restaurant owner joins the gang to discuss the Put-Write index. They discuss:

How he got involved in creating the put-write index with he CBOE
What the response has been to the put-write index
Why he thinks the Put-Write remains in the shadow of BXM
Why he thinks commodity-based volatility products like GVZ, etc. have failed to take off in the marketplace
His take on the recent move in nat gas and the volatility levels out there

Volatility Review: VIX options are on fire lately, with an ADV of nearly 700k contracts recently. Still heavy interest in calls (2.4/1 calls to puts), but nowhere near as strong as it was a few weeks ago when it hit nearly 3 to 1. Realized vol is still beating implied vol, but the gap is closing. As with VIX, the bulk of open interest in RVX is in the calls.

Volatility Voicemail: The vol experts will take your questions now

Question from Mr. T Bill - I know the focus of your program is equity volatility, but I think there might be an audience for fixed income volatility as well. You could discuss the performance of implied vs realized across various treasury options and futures. You could even mix in some discussion of ETFs like TLT (March and April are both trading at an 11 implied vol - flat term structure - trading opportunity?) Any chance you might consider adding this to future shows? Thanks and I love the program. Glad its back on the air. My weeks just were not the same without Vol Views. Please give my best to Don. I hope he can come back on the program some day.

Crystal Ball: An outlook for VIX, RVX and other vol products/indices.

Volatility Views 98: The Rise of Short-Term Volatility

Volatility Review: A crazy week for VIX call buyers - they did not get the pop they were expecting. Looks like that big VIX call writer last week was on the right course.

Volatility Viewpoint: Our guest today is Jay Caauwe - CBOE Futures Exchange.

Hot on the heels of two new records: 2013 was a record year and January was another record month. Are you still on-track for a Feb 13 launch for VXST? What about the options? What has the response been to the extended VIX hours? What has the customer response been to RVX so far? What use cases are you seeing for it? Any other Russell volatility products on the horizon?

Crystal Ball: An Outlook for VIX options/futures, RVX & ETPs.

Volatility View 97: Consulting Volatility

Volatility Review: So much for single digit VIX cash in Q1. VIX options call/put nearly 3 to 1 right now, hovering at record size. People still loving VIX upside - size open interest all the easy up to the Feb 60 strike. Current RVX open interest at 2700 contracts, traded 250 lot yesterday, the zealots are out in RVX.

Volatility Voicemail:

Comment from Jason Ungar - Hi, Mark: I hope you are well. I just heard your (latest, I think) podcast which included a question about the PUTs consistent outperformance of the BXM. I know you wanted to look into this, and I think I may be able to help. While it is tempting to ascribe the differential to the PUTs puts carrying a higher IV than the BXMs calls, there is almost invariably only a 5 point spread between the two option's strikes, and this is too narrow to capture any significant amount of skew. The actual reason for the difference is a bit more complicated and has to do with the indexes' settlement methodologies. As I am sure you know, index options settle against the Special Opening Quotation, which was instituted by the CME as a way to price expiring S&P 500 futures. The SOQ captures the opening price of all 500 components of the S&P 500, and the anomaly is that on expiration Fridays the SOQ often comes in at a premium to the cash open. The precise reason for this is unknown, but it may have to do with the action of market makers buying back the futures they used to hedge short put positions. The CME and CBOE are aware of this (see the included "Understanding the SOQ" pamphlet and note the consistent positive spread between the SOQ and the cash open and the reference to the SOQ "occasionally departing from index values".) The reason the high SOQ is relevant is that it causes the BXM to purchase expiring ITM calls at a premium and the PUT to purchase expiring ITM puts at a discount. This is compounded by the tendency of the market to open strong on expiration and then to tail off. This is good for the PUT, which is out of the market for the first two hours of trading, and bad for the BXM, which is long the market until new calls are sold beginning at 11:30 eastern. You can do an easy test to confirm this. Just line up the daily returns for both indexes (available for download at cboe.com), and note that the greatest differentials (usually in the PUT's favor) almost always occur on expiration Fridays. I have included a JAI paper on the PUT I coauthored with Matt Moran as well as a follow up article. I would be happy to discuss any of this. All the best, Jason Ungar

Question from Hannibal Smith - What is the Volatility Views panels take on the recent announced VolDex product from ISE and Nations Shares? Is it a credible competitor to VIX?

Crystal Ball: Heading for more of the same trouble in VIX land?

Volatility Views 96: Harvesting Volatility Risk Premium

Volatility Review: An ugly, ugly day across the board for Vol. S&P down 2%. VIX settlement last Wednesday. What is it about Feb that brings out the VIX call buyers en masse?

Volatility Viewpoint: Today’s guest is Scott Maidel, Senior Portfolio Manager of Equity Derivatives at Russell Investments.

They discuss:

Short volatility strategies & framework
An update on the call overriding portfolio
Why does a volatility risk premium exist?
Is volatility an asset class?
What are alternatives for managing portfolio volatility?
Strategy construction techniques for harvesting volatility risk premium
Will implied volatility underperform realized volatility in the coming months?
What are some favorite tools/products/techniques for capturing implied vs. realized?
How does the volatility premium in products like RVX differ from traditional S&P volatility products?
The ideal use case for a volatility product like VIX/RVX?

Crystal Ball: Weak China, Argentina, and worse-than-expected housing numbers, etc. has combined into a massive weight on the market, and volatility has only recently come to life. What should we expect going forward?

Volatility Views 95: When the Crazies Emerge

Volatility Review: Activity review for VIX futures, VIX options, RVX and VIX-related ETPs. Extended hours working for VIX. VXST approval expected in February.

The 2013 numbers are in:

VIX futures 2013 annual ADV - 159K - Up 67% from 2012.
VIX options 2013 annual ADV - 567K - Up 28% from 2012.
SPX options 2013 annual ADV - 823K - Up 18% from 2012.

Volatility Voicemail: What questions do you have for us?

Comment from nrlbuild: Great to have Volatility Views back on the air...but what about Don Schlesinger? Breakin' my heart man! Keep up the good work, Ned

Question from Greg: I'd been looking at the CBOE's Put-write vs. Buy-write strategy that rolls the ATM monthly options short. On the surface it appears the PW outperformed with less volatility over the last 25 years. It appears the PW outperforms over longer periods because any or all of the following:

1) Investors have overestimated future dividend payments

2) Investors have overestimated future interest rates

3) The random timing from the call or put being slightly ITM or OTM during more pronounced market moves

It's important to note that implied volatility should not explain a significant difference here. Both Calls and Put values are positively correlated with volatility. If you have a taxable account and your underlying holdings are targeted to be held at least 1 year, it would seem covered call would win out due to the stock and dividend being taxed at LT rates. Put premiums and bond interest are both taxed at ST rates. Commissions are a slight advantage to the PW strategy but in the world of online discount brokerages I would think this is insignificant. Thoughts?

Question from: expertmagician: I just found you! Just started using Volatility ETFs, and have never used futures or options. What is the best way to learn about various ways to hedge S&P or Russell using VIX ETFs? Great podcast! I would love to see an RVX ETF. Problem is with contango and contract roll exposure with ETFs. So, I am looking for a way to do this because I do not have the time to learn and actively trade futures or options.

Crystal Ball: Outlook at VIX options, futures, RVX and other volatility products activity next week.

Volatility Views 94: We Are Back!

Volatility Views is back from hiatus and in this episode, Mark is joined by Mark Sebastian and Pat Fay, Director of Listed Derivatives, Russell Indexes

Volatility Review: RVX options and futures are back. Why bring them back? What’s unique to the RVX relative to the VIX? An overview/analysis of all the recent trading activity in VIX options and futures as well as VIX-related ETPs.

Volatility Voicemail: What Do You Want to Know?

Comment from Mr. Inc.: @Options Great to see that Volatility Views is returning to the schedule. My fav show. Cannot wait to hear it again.
Question from Joseph Hill, Spokane, WA: Great episode with Russell Rhoads from the CBOE. I hope Vol Views will be back on a more regular basis going forward. I also have a question about vol trading. I like the idea of VIX options, but I am not heavily invested in S&P 500 stocks. I think something like the NASDAQ VIX for my tech portfolio and Russell VIX for my small cap. My question is - Are these products identical to regular VIX options except for a different underlying? Or do they have different calculation formulas, settlement dates, etc.? Any plans to launch a futures show?
Question from SID S., Des Moines, IA: What is a good way to trade corn volatility? Do I have to do straddles on the big futures options or is there something else? Maybe a corn VIX that offers a more direct approach?

Crystal Ball: Our expectation from the upcoming week in VIX, RVX, ETPs and more.

Volatility Views 93: Returning in Style

Volatility Viewpoint: Mark’s guest is Russell Rhoads, Senior Instructor, Options Institute. What does The Options Institute do? What is your opinion on the massive influx of retail traders into sophisticated institutional products like VIX options? What is your opinion on this new shorter-duration VIX products?

Volatility Review: Last-minute hedging activity in the broad indices ahead of the shutdown attributed to a short squeeze in volatility. Did the aggressive selling activity prior to the deadline a surprise to you? We are seeing some backwardation in the near-end of the VIX curve right now - a rare occurrence. How will weekly VIX change the marketplace?

Listener Mail: What do you want to know?

Question from Endzone - Will the sing name VIX products ever see the light of day
Question from George Santiago, San Diego, CA - I love the volatility views program and am looking forward to its return. Mark, Don and the gang put on a very informative program. I wold like to ask a question about variance. The CFE launched a variance product several years ago that received little traction. They have since pulled it. What was the problem with that product? Do you feel the relaunched version has nay chance in the marketplace?

Crystal Ball: Dangerous roads ahead as we navigate the shutdown. Watch out for another short squeeze in volatility. Eventually premium has to erode - something has to give.

Volatility Views 92: Zero Sum Game?

Volatility Viewpoint: We shake it up a bit and discuss the biggest news of the week first, namely the New York Times article, "Growth in Options Trading Helps Brokers but not Small Investors."

The Crystal Ball: We discuss the future of Vol Views itself. A short summer hiatus will cover the rest of June, but we're hoping to be back in July with a new and improved format, more voices, new segments, but the same Vol Views you know and love.

Volatility Views 91: Historical Lows

Volatility Review: Realized volatility plummeted. NASDAQ sits at 12.06 and S&P is even lower at 10.01. Don and Mark Sebastian called it.

Listener Mail: We answer listener questions.

Question from Jackson Engles, Garden City, NY: When you are analyzing historical volatility, what time frame is most relevant? The past 30 days? The past three months, six months, etc.? What do you focus on in your analysis
Question from Timothy VanAllen, Baltimore, MD: I hope Mark didn't lose "the Voice of Options" at his unusual activity event. I couldn't make that one, but if you guys end up doing a Vol Views 100 live, I hope to be able to attend. My question has to do with vol skew. We hear a lot about the vol smile, but nothing really exhibits it. Can you guys think of any underlyings that really spike from a volatility perspective once they move away from the ATM in either direction?
Question from ATL16: Dollar/Yen is crazy lately. What's a good source for FX vol info or analysis?
Question from Phil Thomas, London, ON: In what conditions would the Vol Views Squad ever consider using upside VXX or VIX calls/verticals as a portfolio hedge? Or would you always stick with the good old S&P put spread/ratio spread?
Question from Mr. Pop: Quick question -- What is your favorite position for trading volatility?

The Crystal Ball: Fading the short-term, buying the long-term. How long can VIX stay this low?

Volatility Views 90: Sell or Sell Not, There is no Buy.

Volatility Review:

The dollar hit a historic level with the Yen last week, and this has had an effect on the currencies Vol.The inversion of realized volatility, where it's higher than VIX, continues -- a rather unusual occurrence.

Volatility Viewpoints:

Dennis Chen. He is the co-author, along with Vol Views's own Mark Sebastian, of The Options Trader's Hedge Fund.

Listener Mail:

Comment from Hawkeye: In honor of May the 4th, "Buy not, sell or sell not, there is no buy." - from Don "Yoda" Schlesinger. Thanks to all the volatility masters for such a great podcast!

Question from Mr. Todd: I found Mark L's comment about VXX being the #3 exchange traded product quite surprising. You guys have slammed that product frequently on this program. Why do you think it has succeeded among the entire universe of VIX ETPs? Thanks for the greats shows - when Mark "The Voice of Options" speaks I listen!

The Crystal Ball:

This curious situation with VIX really throws a wrench into the machine -- not sure where we go from here.

Volatility Views 89: Moving in Lockstep

Volatility Review: Market up 1% after some surprise news from the non-farms report -- better than expected. We had a unique week where the market was up and VIX was up as well, for 4 days in a row!

Listener Mail: Mark and Don take your questions.

Comment by AsymmetricRisk on the Value of Gamma episode: Best Vol Views ever, by far, full of actionable insight. A whole new level for Vol Views. Keep up the good work.
Question from Hawkeye: I just picked up Mark Sebastian's book The Option Trader's Hedge Fund. I am looking at the example where he uses a double diagonal, then "weights the vega." I understand why he wants to weight them, but I don't understand where he got the actual weight values he used from. Can anyone help? Thanks.
Question from Tom B, Houston, TX: Hey Vol Viewers - My question is for Don and Bob from the Volatility Exchange. With the recent crash at the CBOE, are you guys at VolX at all concerned about putting all of your eggs in one basket when it comes to listing exclusively on one exchange? Would it be better for RealVol futures to be listed on all relevant exchanges? Thank you for this program. I look forward to it every week even though most of it goes right over my head. Mark L has the best voice in options, Mark S is a zany character and Don can recite volatility calculation like nobody's business. Keep it up!
Question from Tim L, Long Beach, CA: Does anyone offer the equivalent of FLEX options for volatility? If so, would you recommend them?
Question from Athelas: What did Vix traders do during the CBOE crash? SPX has many outlets but there aren't any for VIX that I am aware of.
Question from Tiny Tim: Where do the Vol Viewers stand on Vol before earnings? If you're long Vol, do you get out before the announcement? If you're short Vol, do you get out after the announcement?

The Crystal Ball: Implied Volatility has possibly hit its bottom. These 1% moves a day could continue.

Volatility Views 88: Reestablishing the Norm

Volatility Review: Vol has spiked in the last week, going nearly as high as during the Italian elections. CBOE computers go down. How does the inability to trade VIX affect the overall markets?

Listener Mail: Mark and Don will take your questions now.

Question from Phil Z. - Mark, love the show! Could you explain what you, Don, and Mark S. mean when you say VIX has "roll risk"?
Question from Tom S. - Do you agree with the theory of your guest that near-term S&P OTM puts are the most resilient to time decay?

The Crystal Ball: VIX should stay high for a while, but will not go above 14%.

Volatility Views 87: It All Comes Down to Timing

Volatility Review: The VIX shot up at the beginning of the week, but was selling off by the end of the week. There was a broad vol story happening this week, particularly in the commodities with gold vol spiking 500% over two weeks.

Volatility Viewpoint: Bob Krause discusses the RealVol Index, available at VolX, which features nine daily indexes. Bob also talks about how a real-time value can be calculated from a daily value.

Listener Mail: Tell us what you want to know.

Question from Blake M, Troy, NY: If I trade bullish risk reversals, does the volatility premium give me an inherent advantage over collar/bearish risk reversal trades?
Question from Mitten, Toronto, ON: When does VolX plan to launch a RealVol contract on commodities? I think a metals contract would be very popular and profitable for the exchange.
Question from Mike P: Mark, are you aware of any research, or can you bring on any guest to discuss to the performance of at-the-money straddles during earnings cycles? It can be either from the short or long side. I'm surprised at the lack of available information on this topic, given the importance of the subject matter. This impacts pretty much every options trader at least once every quarter. Any light that you could shine on this through your fantastic radio network and website would be very much appreciated.

The Crystal Ball: Apple and other earnings next week, which have an impact on vol premium. The bulls could be coming back in force.

Volatility Views: The Value of Gamma

Volatility Review: Gold vol is getting crushed and is off about 4%, with similar action happening in silver. Money is leaving gold and entering bonds and stocks. The Bernanke straddle is in full effect as money flows in from Asia. Lowest realized vol in Gold was charted in early April, with vol spiking ever since. Vol of vol is around 170, and is likely going over 200.

Volatility Viewpoint: Today guest is Shreyas Chari, Principal at Satwic Capital Partners. He discusses gamma and its relative value in the marketplace, as well as other aspects of volatility.

The Crystal Ball: Weekly options are becoming more efficiently priced.

Volatility Views 85: Responding to Great Listener Questions

Volatility Review: It is somewhat surprising to see how little the recent European crisis has impacted the VIX. Perhaps the market over-reacted to the news in Cypress. NASDAQ 21-day realized volatility is below that of the S&P.

Listener Mail: Keep those questions coming in.

Question from Jim Petchi: I have been listening to Volatility Views for a while, but I still do not understand how the volatility of a specific option relates to the probability of the change in stock price. Does the implied vol of a specific option (like AAPL today at 443, with a April vol of 29%) mean that AAPL has a 29% chance of making a one standard day deviation move, which is 67%, in that time frame? If not, is there some way of relating the implied vol with probability?
Question from A Heiner: (in reference to "Risk Reversals Trade BPI" an unusual activity article) What does this mean? I apologize but I do not understand the market and what this says about the future of BPI and its price. Can you break it down for me?

The Crystal Ball: The crisis in the Mediterranean will likely get resolved soon, and in a way the market finds favorable. Happy Holidays everyone! We will be back in two weeks.

Volatility Views 84: May You Live in Interesting Times

Volatility Review: We are back after a short break last weekend. Most major indexes have reached near-record lows highs. As a consequence, because of the inverse relationship, volatilities are extremely low. Could this be the norm going forward? Is there a line drawn in the sand with options' implied volatilities?

Listener Mail: Our team tackles your questions.

Question from Phil Fan: Do you ever plan to host a live recording of Volatility Views? If so, when and where? Please put me on the list.
Question from Tim Moore: The host frequently says that vol traders don't understand basic math. What does he mean by that?
Question from X64: Are there any good tools out there that show up-to-the-minute, even intraday, realized volatility?
Question from Aston Meyer, Brooklyn, NY: I enjoyed your recent show with Randy Swan. However, do you really think it is realistic for a client to expect his financial advisor to have a working understanding of volatility, in addition to all the other things they keep track of for their clients (stock selection, tax implications, risk tolerance, etc.)? Thank you for this wonderful program, I have learned quite a bit.
Question from StatArb: Do you think they'll pull all the vol swaps onto SEF's along with the CDS's?

Crystal Ball: Very rarely have realized and implied volatility been this close to each other, making this an interesting period. VIX settlement next week.

Volatility Views 83: Check Your Levels

Volatility Review: We had quite a roller coaster week in terms of implied and realized vol. The importance of vol of vol has been showcased.

Listener Mail: We have a huge mail bag today.

Question from Big Ned: Is it possible for an options trader to ever truly be flat, aside from closing his positions?
Question from Alex Gumble: How do market makers manage their volatility exposure when everyone else in the pit (or bin) has the same position? That seems like a difficult prospect.
Question from Mikhail, Ukraine: Why do I need to worry about Vega? I only sell strangles and iron condors. The risk is clearly defined. If price is good, I sell. I price is not good, I don't sell. It’s very simple.
Question from Nix01: I liked Mark's article "VIX Activity - Hedge or Sign" from 2/27. Can he elaborate on the show?
Comment from Rich@PinProjects: Rule of 16, nice one! Thanks @Options #Volatility.
Question from Talos_A: Insider trading has been making many headlines. Do you feel sudden spikes/drops in volatility on a strike are the best indicators or unusual activity/insider trading?
Question from Nickel Silver: Where can I buy shares of VolX? Is it publicly traded?

The Crystal Ball: Sequestration! Keep an eye on Europe as well. Where can vol go next?

Volatility Views 82: Scalp Gamma, Trade Vega

Volatility Review: What is going to shake up the world of volatility? We did see a small pop this week. The weekend effect.

The Mail Bag: So many questions!

Question from Tim Ross: I’ve heard the hosts refer to "scalping gamma" before on the program. What does that mean and should I be doing that in my own trading account?
Question from Nitin Gulati: Mark, Volatility Views is the best educational show in world of options trading and education. No one could have assembled such a great team of hosts. Don often refers to “vol of vol” in his comments, but how can this serve as a useful tool in a retail trader’s arsenal? On second thought, we often use vol cones to understand how realized vol is at lower levels on some individual names, as well as indexes. If implied vol is priced in lower further out, doesn't that mean the market is pricing a muted move in the future? How would a trader differentiate if he only wants vega, since gamma might not be cheap?
Question/comment from Southbaytrader1: Looking forward to the weekly fix from your show. Good humor in a world of darkness! When's the next stand-up tour? I enjoyed the vol series discussing Taleb's strategies--interesting to hear competing viewpoints. I would like to hear more on vol futures versus cash, assignment risk, and possible spread strategies for mitigating cash outlays. Your thoughts on margin would be great too.
Question from TBill01: What do you guys think of the recent spike in VIX? It seems to be way out of whack with actual movement of S&P. See? I listen!
Question from Umberto Toli: Do you feel the current options tax treatments put forth in congress, particularly the covered call tax treatment, will stifle volume and/or drive exchange volume into the OTC realm? If so, what impact do you feel this would have on overall S&P and NASDAQ volatility?
Question from Et_Moor16: I am thinking about dispersion trading in AAPL, V, QQQ, GOOG, and AMZN. How much do you think I need in my account to do it?
Question from Finn Tompkins: What does the Vol Views crew think of the underperformance of the emerging markets VIX relative to the actual VIX? Is tail risk just overpriced in the U.S. or is it a bargain in the emerging markets?

The Crystal Ball: Is the current level of realized volatility sustainable?

Volatility Views 81: Capturing Volatility Premium

Volatility Review: It’s about as blah as it can be with very little happening in the world of volatility. It’s not to say we told you so. If there is any edge, it’s in March VIX futures.

Volatility Viewpoint: Today's guest is Scott Maidel, Senior Portfolio Manager, at Russell Investments. He discusses:

His paper, Capturing Volatility Premium through Call Overwriting (http://www.russell.com/US/insights-research/capturing-the-volatility-premium.aspx)
The ways to capture the volatility differential between realized and implied
Quantifying the term “overwriting”
Findings that overwriting can outperform the S&P 500 in the long-term
How the message is being received by the retail audience
How the paper quantifies the impact of the roll on weekly options and when the best time is to do so

Crystal Ball: Is VIX at 11 possible? Skew may be the best way to go for now. Don and Andrew find common ground.

Volatility Views 80: The Listeners Take Over

Volatility Review: NASDAQ realized vol hits 11.33, a continued downtrend not only in NASDAQ, but also S&P vol. The Russell is garnering premium over everything else.

Listener Mail: Our listeners are keeping us busy with questions.

Question from JoJo - I love the show! Have you thought about bringing on a CTA?
Question from Justin Deveroe - Can you walk me through a few potential use-cases for a NASDAQ vol contract? I like the show and I'm intrigued by the idea, I'm just not sure how to trade a product like that.
Question from Little Tim - Why do you think GLD is "underperforming" right now from a volatility perspective? SLV seems to be stealing all of the thunder in the volatility realm these days.Question from Theodore Grey - I enjoyed your recent shows featuring financial advisors, but I found the reticence of many advisors to even implement basic hedges very troubling. Why do you think so many advisors and asset managers lack even basic knowledge of volatility or how to hedge a portfolio with options?
Question from Allie, Anchorage, AK - I have about $25,000 in my trading account. I've learned a lot about the realized vs. implied discrepancy by listening to this program, and I would like to capture that in my own trading. Unfortunately delta neutral trading is pretty much out of the question with my account balance. What do you recommend for someone like me who would like to practice what you guys preach, but doesn't have access to an institutional level account? I'm sure many of your listeners are in a similar situation.
Question from Monster6 - Correlation is a growing concern across asset classes; it's all but impossible to diversify away risk in this marketplace. Would you guys advise your listeners that a volatility/derivative component is the best way to truly hedge/protect a portfolio these days? If so, which would you recommend?

The Crystal Ball: Perhaps the Russell will be our salvation for a little action over the weekend. Looking for price increases in all the major indexes in the future.

Volatility Views 79: Derivatives Strategy Consulting

Volatility Review: Premium coming out post non-farm payrolls. How long can volatility stay this low? Will VIX have an 11-handle by next week?

Volatility Viewpoint: Today's guest is Mark Shepherd, Founder of DSC, Derivatives Strategy Consultants. He discusses what types of structured products his firm offers, how he advises clients in a low volatility environment, and how he hedges his clients.

The Crystal Ball: What will juice volatility in the coming weeks? The metals remain the last bastion of volatility in this market.

Volatility Views 78: Making Money in Spite of Yourself

Volatility Review: Apple set fire to their earnings estimates, and then plunged to murky depths. NASDAQ vol. Implied vols, as measured by VIX, are currently at the same level as 21-day realized S&P vol, but are still overpriced with respect to shorter, 10-day realized.

Listener Mail: Don, Mark, and Mark dive into the listener mailbag.

Email question from Neil Ducat: I like the discussion of commodity volatility on your recent episodes. Are there any plans to include a regular commodity vol update in your Vol Review segment?
Email question from Tim S.: The commodity discussion on your recent episode was illuminating. I would like to ask your opinion on this: Given the success of commodity options and futures, why haven't commodity volatility products (like gold VIX, etc.) really taken off and captured the imagination of the investing public?
Twitter question from Mr. Auto: With Apple and other recent names blowing through their straddles post-earnings, would Don concede that there are indeed times when it is appropriate to buy volatility?
Comment from Alfonso Strolli, Florence, Italy: Ciao Vol Views crew! I find your program very informative. Mark Longo is indeed the voice of options, and certainly the best in the world at what he does. Don provides the perspective of a veteran of many volatility battles, and Mark Sebastian is nothing but entertaining. Thank you for this great and unique program. Keep up the good work!
Email question from Tim42: Has Don ever bought an underlying, or does he sell those too?
Email question from Ed: I am very interested in SPX and SPX volatility (aka VIX). I understand Mark Longo is a former SPX market maker, what are his impressions of the current trading range of SPX vol vs. his time in the pit? Does it perform differently now than it did then? Also, if possible, could he share his favorite trading story from his SPX days? Thank you very much.

The Crystal Ball: Gold and silver catching eyes of those looking for volatility.

Email question from Donald Simmons: With volatility trending lower and no relief in sight, what do the hosts think of interesting strategies for a time of stagnant volatility?

Volatility Views 77: Volatility from a Wealth Advisor Perspective

Volatility Review: Bob Krause pinch hits for Don in this episode. Volatility has recently jumped in corn and interest rates, but is still at very low levels when compared to a very long-term historical viewpoint. NASDAQ volatility has been moving roughly the same as S&P.

Volatility Viewpoint: Today's guest is: Randy Swan, Co-founder of Swan Wealth Advisors. He discusses:

Overlays
How, as a wealth advisor, he tailors strategies
How he incorporates volatility and volatility levels into his strategies
How he hedges the S&P 500
How he feels about some advisors still clinging to outmoded traditions
And more

Crystal Ball:NASDAQ and S&P outlook. It seems like the one thing we were looking for to juice the market and give us some vol in the near future has been taken away from us -- hence the massive selloff.

Volatility Views 76: Commodity Futures and Volatility

Volatility Views: Not much happening from a volatility perspective. NASDAQ vol review. VIX review.

Volatility Viewpoint: Today's guest is Rob Heineman, a commodities broker at the Chicago Board of Trade. He discusses strategies to use going into crop reports, skew, volatility arbitrage, the impact of one commodity on another, the impact of weather, and more.

Crystal Ball: NASDAQ and S&P outlook. It looks like it might be more of the same with little vol movement. We're stuck in the mid-winter summer doldrums.

Volatility Views 75: New Year, New Questions

Volatility Review: Happy 2013 to all our Volatility Views listeners! The market rallied across the board and then sold off after a deal was finally struck in Washington. S&P vol review.

Mail Bag: Keep those questions coming.

· Tweet from Southbay Trader: I especially like Volatility Views!

· Tweet from Billmoo: OIR - Top Financial Podcast of 2012!

· Email from Allen Jacobs - Danbury, CT: Can you guys talk about dispersion trading? I've heard that term quite a bit recently. I think it has to do with volatility trading, but I'm not sure how or why, but I think I've turned to the right people for help. Thanks for your show Mark, it's a big help to people like me, who aspire to one day be volatility pros like you guys.

· Tweet from Leroy: Why weren't people aggressively shorting vol pre-cliff deal like the debt deal?

· Email from Anonymous: I run the vol book at a local shop. I found your show about Mr. Black Swan very illuminating. I've read all of Mr. Taleb's books and even met him several times. Like you, I assumed his trading style to be heavily long premium, and was surprised to hear the opposite. I would expect former market makers like "the Marks" and a former upstairs trader like Don to be aggressively short ATM premium, but not Mr. Taleb. He appears to be preparing himself for his black swan events by back spreading and being net long units, so it isn't a complete cop-out - he's not just writing ATM straddle and heading for the hills. Like all of you and your recent guest (Jared Woodward), I too am left with a somewhat bitter taste in my mouth after learning this information, it doesn't fit with the overall message and marketing of his work.

· Email from Theodore Grant - Pittsburgh, PA: Mark, Volatility Views is my favorite show on your network! I wish there were more podcasts out there talking about volatility trading - you guys truly stand alone. My question has to do with tail risk, one of your favorite subjects. You guys always talk about tail risk and how it's become dramatically overpriced in indexes like the S&P 500 and even large cap stocks like Google. What about in commodity products like GLD, corn, oil, etc.? In those products the tail risk is found on the upside. Do you see the same overpricing of premium in the upside calls in those products as we currently see in downside SPY and Google puts? Thank you.

The Crystal Ball: Earnings season kicks off next week. Are we heading towards the winter doldrums?

Volatility Views 74: Digging Deep into the Listener Mailbag

Volatility Review: Most indices down 1% fueled by rumors out of Washington about a collapse in the deal over the impending "fiscal cliff."

Listener Mail: So many questions for us to answer.

Tweet from Doc Hudson: What is your pick for volatility trade/product/development of the year?
Tweet from Man of Steel: What do people mean by “selling or buying skew”? What are those trades?
Tweet from VIXen - Why are iron condors so hot right now? Seems like everyone is selling them these days no matter the vol landscape.
Email from Sam Felis: Why are the front-month VIX futures trading above the cash right now? I need the Vol Views pros to explain this to me.
Tweet from Sam Dash: Don -- sell or don't sell vol in 2013? Give me your thoughts?

The Crystal Ball: What can we expect to see in 2013?

Volatility Views 73: Once More unto the Black Swan Breach

Volatility Review: NASDAQ vol hits 13.08. Apple, despite its tremendous movement, is having little effect on NASDAQ volatility. S&P realized vol versus implied vol.

Listener Mail: Back to Black Swans.

Comment from Asymmetric Risk: According to Don, Nassim will lose money over the long run because the out of the money options he buys have a higher implied volatility than the close to the money options he sells. Since he is paying a spread, Don thinks this is a bad strategy. Far be it for me to disagree with Don, but speaking for Nassim (and I feel confident speaking for Nassim because I've had dozens of conversations with him on this exact topic) Nassim would agree he is paying a spread but the spread between ATM and OTM options is systemically underpriced. Nassim's strategy is based on his belief that asset prices are not normally distributed -- the bell is flatter and the tails are fatter. So options markets overprice one standard deviation risk ("I always sell ATM straddles") and underprice two standard deviation risk (Black Swans). Your critique of him is misplaced because you're focusing on 5- and 10-sigma events which are not required for his strategy to work. He ran a large option book at a major investment bank and was profitable on a monthly basis.
Tweet from Don M.: Shouldn't Nassim be a net buyer of tail puts if he feels tail risk is underpriced? If he sells ATM, does he buy OTM on a ratio? Make no sense to me.
Email from Tim Vicks, Fredericksburg, VA: Let me see if I have this straight: Black Swans are extreme outlier events that are unpredictable, yet so catastrophic as to alter the course of human events. But the way to prepare for these events is to sell premium? What am I missing?

The Crystal Ball: Sebastian foresees a massive spike in realized vol with little to no spike in implied vol. Is it time to own gamma and be short vega? Still waiting for some news out of Washington.

Volatility Views 72: Closing the Book on Black Swans

Volatility Review: It was a very slow week in volatility, with the VIX sticking close to 16. Near-term VIX futures were trading at 0.50 below the cash contract at one point this week.

Listener Mail: Mark, Andrew, and Don answer listener questions.

Comment from Teddy: This is a great article. I really hope you guys discuss this on the next episode of Volatility Views. I'm curious about this new low vol VIX. What is the point of it?
Comment from Oscar (about Woodard's article): This is a good article, and given the last episode of Vol Views, this is very timely. When are you going to have Condors Options on the show? It seems like they would fit nicely with Mark, Don and Mark.
Comment from Asymmetric Risk: I've never read any of Nassim's books, much less his research. However I've probably traded more options with him than any of his counterparties, going back to the 80's when we were the two most active currency options traders globally. I would describe him as a buyer of back spreads, and very well positioned for gaps or jumps. Many of which were not black swans per se, for example, the sudden 10% currency move we had when the Swiss National Bank put a floor on the Euro recently. Your critique of his strategy was unduly harsh, because while he is set up for black swans, he isn't dependent on them to be profitable, as you guys characterize him.
Email from Mark S: Should I even pay attention to the vega numbers when trading weekly options? It seems like vol is mostly irrelevant in such a short-dated option and that any measurement of that vol would be highly prone to error. Weeklies seem to be gamma/theta beasts, so that's where I expend the bulk of my effort and analysis.

The Crystal Ball: We're still waiting for a settlement in Washington on "the fiscal cliff."

The Crystal Ball: We're still waiting for a settlement in Washington on "the fiscal cliff."

Volatility Views 71: Condor Options Takes on Black Swans

Volatility Review: Near-term vol of vol has been extremely low of late. NASDAQ and S&P vol review: over the past two weeks vol has been almost unchanged. How has our frame of reference for vol changed?

Volatility Viewpoint: Today's guest is Jared Woodard, the founder of Condor Options. He discusses his recent article about volatility and black swan events. What was the response from Taleb? A major bombshell is dropped. Plus, Jared also gives his take on volatility risk premium.

The Crystal Ball: The fear of the weekend. What could happen with "the fiscal cliff"?

Here is the link to the article on Condor Options' website.

Volatility Views 70: Stop Worrying about Black Swans

Volatility Review: Selloffs continue, though the VIX has not changed much. VIX review. NASDAQ vol review. Almost no change in realized vol.

Volatility Viewpoint: Some interesting topics emerged from this week's global derivatives conference:

Is vol cheap? When VIX cash hit 13.5 this year, the cost of the six-month hedge was the same as the day after Lehman defaulted.
VIX ETPs are problematic, part 1: They are not very adaptable to new volatility regimes.
VIX ETPs are problematic, part 2: In the last 15 minutes of the trading day, VIX futures are far more volatile than VIX or SPX themselves, indicating the impact of these structured products on seeking alpha and roll yield.
Is too much tail risk priced into the market? S&P puts and VIX calls are priced as though black swan events are imminent and occur with alarming regularity, as opposed to being the rare events that they truly are.
Implied vs. realized volatility premium: Implied volatility premium, as opposed to its realized counterpart, is higher in short-duration VIX options. In general, this favors strategies that sell shorter-dated options and buy longer-dated options.

Crystal Ball: Looking ahead at NASDAQ volatility and the VIX.

Volatility Views 69: Unlocking the Secrets of the Vol Surface

Volatility Review: The post-election selloff seems to be over for now. A bit of politics, plus a two-week rundown of S&P and NASDAQ vol.

Volatility Viewpoint: Today's guest is Alberto Cherubini, the founder of EQ Finance, who discusses volatility surface models, exotic trades, as well as OTC vol and how it is impacting that of listed products.

Crystal Ball: We are hoping for a major announcement, any day now, concerning VolX. Stay tuned. Assets with inelastic demand and sensitivity to the US dollar will rally.

Volatility Views 68: The Dark Art of Futures Options

Volatility Review: NASDAQ vol and how it has been affected by earnings. Implied risk premium. S&P vol.

Volatility Viewpoint: Today's guest is Jeff Lewandowski from Foremost Trading. He discusses his transition from CBOE to futures, as well as the odd shape of commodity volatility skew, smile skew, and premium levels.

The Crystal Ball: NASDAQ vol going into the big numbers tonight ahead of AAPL earnings. How will earnings affect realized vol? All the big tech names are outperforming. Looking ahead to S&P vol.

Volatility Views 67: VolContract Futures Overlays: The Holy Grail?

Volatility Review: What's going on with the VIX rallying on a slow day like today? NASDAQ rundown. This is the first time we've moved down more than 1% since June 26th.

Volatility Viewpoint: Today's guest is Nick Li, a Quantitative Analyst for VolX. He tells us about the paper "VolContract Futures Overlay on an S&P 500 Portfolio," which compares some different implementations of VolContracts in conjunction with an equity portfolio.

The Crystal Ball: Realized volatility should tick up a bit, but it depends on earnings.

Volatility Views 66: A Week without Volatility

Volatility Review: The week in vol that never happened. Yes, it was a very quiet week. NASDAQ and S&P both dropped off severely since the last week.

Listener Mail: Our listeners drive the bus for a while

Did Don start off as a vol seller or did he have a few losing long vol trades first that turned him to the dark side? (Via Tweet from @THIMSTER)
Do you guys subscribe to the notion that the market is fully hedged with VIX, which is why VIX is underperforming? (Via Tweet from @XZTON)
Does VolX have any plans to launch any realized volatility products on commodities such as ags, metals, etc.? Thanks and keep up the great work. (Via Email from Sid K., Des Moines, IA)
What do you guys think of Apple call verticals here? Does Apple skew make buying them more attractive going into earnings? (Via Tweet from @Duncan6)
Why is NASDAQ historically a more volatile index than the S&P500? Is it simply because it contains more tech stocks, so that generates more volatility than large Fortune 100 type stocks? Also, can you recommend any good products for trading NASDAQ volatility? Thanks for answering my question and for this fantastic, one-of-a-kind program. (Via Facebook from Alexander S.)

Crystal Ball: Looking ahead at VIX, NASDAQ, and S&P. Less than a month away from the general election.

Volatility Views 65: Contango Tango

Volatility Review: The VIX is back at 14. We're definitely in a lower volatility environment. The May futures are currently trading around 24, which is almost three times current S&P realized volatility. Not much movement in NASDAQ.

Volatility Viewpoint: Today's guest is Mike Cavanaugh, president of Know Your Options, Inc. Mike talks about hedging stock portfolios with options and volatility products, the trouble with opening rotations, and more.

Crystal Ball: Don't expect much to happen in the next week or so. Non-farms and the VP debate upcoming.

Volatility Views 64: Missing the Fat, Juicy Puts of Yore

Volatility Review: Looking back at a four-day time horizon. At this point, most of the indices are unchanged on the day. Don starts us off reporting that we saw actual movement in realized vol for both NASDAQ and S&P. NASDAQ components making the index rather interesting. (Yes, that means AAPL.) S&P implied vol being driven by the European cocktail of news of the day. Does skew have it all wrong? Andrew sees a floor in VIX around 13.

Volatility Mailbag: The team lets the listeners steer the conversation.

Email from Michael: "Does volatility play a role in dividend exercise/assignment? Is Vega a major factor in most dividend scenarios?"
Tweet from Ian K: "Can you talk a little about commodity volatility skew? Why is it so different than equity skew?"
Facebook question from Christian Garcia: "Is it worth it to be stuck on the screen all day with regard to gamma scalping? Does Mark Sebastian's formula (pay-to-the-decay) work on futures options?"

Crystal Ball: The team attempts to peer into the murky ether of upcoming volatility.

Volatility Views 63: The Low End of the Volatility Spectrum

Volatility Review: Vol didn't get a boost going into the weekend, but it didn't sell off either. Very dull week in NASDAQ.

Listener Questions: The listeners direct the conversation.

Comment from Lee on Mark Sebastian's "Arrogant VIX Trade" story: "Possibly one of the most honest and transparent posts I've seen about a losing trade and the reasoning behind it. Well done and thanks for the honesty. We have all been there, fighting a losing battle because our head tells us we are right when everything else is telling you otherwise. It really highlights the need to follow a plan, stick to you risk reward no matter what happens and act like a robot with no emotion when trading. Regards, Lee"
Facebook Question from Tom Sevens: “You guys are always talking about the implied volatility premium vs. realized. But it seems like implied vol is always priced at a premium to realized, so is there ever a reason why anyone would want to do the opposite trade - buy implied and sell realized vol?”
Tweet from @GIN4: “Are there any products out there that replicate vol trades (straddles, iron condors, etc.) to save me the hassle?”
Email from Ed S.: "I really want to understand option volatility. I have even subscribed to sites that ANALYZE volatility, but I can never figure out what to do with the number it generates. I don't know if the result is particularly high, medium or low. This is very distressing to me, because I know vol is very important. But it simply eludes me. Your help is appreciated."
Tweet from @TOMOTON: “Both Marks slammed buying 20,000 Feb 70 VIX calls for $0.15. What trade would you prefer to see?”

Crystal Ball: Looking ahead to a slow upcoming week in vol.

Volatility Views 62: Bad Money Managers

Volatility Review: The team takes a moment to discuss the problem with buying a put versus selling the stock and going to cash. Big events to move vol this week, including Apple iPhone 5 launch.

Listener Mail: Letting the listeners take control of the conversation.

I loved last week's show. I'm very glad to have Vol Views back in the saddle!
My financial advisor recently recommended that I allocate a portion of my portfolio over to VXX because "VIX is low." I didn't know what he was talking about. When I Googled VXX I came across this program and have learned quite a bit. Thank you for informing me, but I'm still uncertain as to his VXX recommendation, especially after hearing your comments about TVIX. Should I allocate some of my portfolio to VXX?
Why are VIX cash and front month VIX futures the same right now?
Don - Is there ever a case when you would buy vol?
You guys are always talking about Volatility skew. I recently noticed that, in Apple, the calls were bid substantially over the puts. Is that an unusual phenomenon? Are there any other names you can mention where this is the case?
Are there any tools that let you trade off of vol cones?

Crystal Ball: Looking ahead to next week's VIX cash and VIX futures. NASDAQ preview.

Volatility Views 61: A Short Straddle for Cowards

Volatility Review: Vol review from the last few weeks. Short story: vol has marched downward to near-record lows. Volatility Viewpoint: This week, Mark and Don are joined by Dan Passarelli, Market Taker Mentoring. Dan discusses Market Taker and how he approaches volatility with a new client. He also talks about mentoring students who want to dive into sophisticated vol products, like VIX options, for example. Does he counsel the novice trader to avoid these products? How does he train students to be aware of volatility levels for each trade that they make? They also discuss gamma scalping and delta neutral trading, and where Dan falls in the volatility hedge vs. direct hedge debate.

Mailbag: Answering listener mail.
. When is Volatility Views coming back live?
. Someone bought 20,000 Feb 75 calls in the VIX yesterday. That's near the ultimate all-time high for the VIX. Why do so many people dramatically overestimate VIX, particularly to the upside? People seem to be ignorant of the historical range of VIX, let alone the typical VIX movement. Perhaps this is more of a comment than a question, but it's been bothering me lately and I wanted to hear your learned opinions on the matter.
. Is there such a thing as "the gamma of vega"?

Crystal Ball: NASDAQ vol outlook.

Volatility Views 60: Jackass Investing: Don't Do It. Profit From It.

Volatility Review: NASDAQ overview over the last month, since our last show. How low can the vol go? A buyers opportunity.

Volatility Viewpoint: Today's guest is Mike Dever, Founder and CEO of Brandywine Asset Management, and author of Jackass Investing: Don't Do It. Profit From It. He starts with his unique approach to volatility. Is it possible, given such broad correlation among asset classes, to be able to really diversify? The book says you can increase returns, while reducing risk at the same time. Is this preaching the wisdom of using derivatives? The "loser's concept." What does he say to readers who are concerned about the current state of regulation and oversight in options and derivatives?

Crystal Ball: Looking ahead for the next month for NASDAQ vol and VIX.

Best of Volatility Views: Busting Skew Myths

Busting Skew Myths! Does the Lottery Effect actually exist? Do flaws in the Black-Scholes model create skew? Were options traders prior to 1987 completely insane? Also, an exploration of the fundamental and psychological causes of Equity/Investment skew.

Volatility Views 59: A Deep Dive into Variance Swaps

Volatility Review: VIX has certainly declined since the last show, with a pop happening only recently. NASDAQ vol rundown since last show. Apple's impact on the NASDAQ wasn't as big as expected.

Volatility Viewpoint: Don goes over some of the math of variance swaps, including how they differ from vol swaps, variance and vega notional, convexity, and vol of vol.

Listener Mail: Addressing Listener Questions

Vol Views Gang - Which will we hit first a VIX of 40 or 14? (Via Twitter from TEXASTEA)
Why don't more brokerage firms allow you to quote options by vol levels instead of price/premium levels? You'd think this would be a very desirable feature, particularly to the type of educated clientele that listens to a show like Volatility Views. That's certainly a desirable clientele for a broker. I know I would certainly like that feature. Can you guys weigh in on this and hopefully help me spread the word for this feature among online brokerage firms. (On a side note - I can't wait for Volatility Views to get back to its regular schedule. I never thought I would be this excited for the end of summer.) (Via Facebook From Alex K., Tucson, AZ)

Does the Volatility Views team feel that the new method for listing weeklies will lead to a reduced volatility of volatility in those products? Thank you very much for your fine program.
(Via email from Alessandro Ropa, Barcelona, Spain)

Crystal Ball: Looking ahead at the next month for VIX and NASDAQ Vol.

Best of Volatility Views: Larry the Legend

In this episode, Mark, Don, and Mark Sebastian are joined by Larry McMillan.

Volatility Viewpoints: Larry McMillan, recent winner of The OIC's Sullivan Award, discusses how volatility derivatives have changed the landscape of vol trading. Larry waxes nostalgic on the days when there weren't puts on every stock. The virtues of upside VIX calls versus SPX puts to hedge a portfolio. Discussing the fine art of gamma scalping.

Best of Volatility Views: The Great Skew Debate

Mark, Mark, and Don discuss volatility and skew with John Bilson, Professor of Finance at the Illinois Institute of Technology's Stuart School of Finance. Professor Bilson also proposes two new types of contracts for the marketplace.

Another selection from The Best of Volatility Views. In this episode, dated June 20, 2011, Mark and Don chat with Bill Luby, creator of the popular website VIX and More. They discuss the roller coaster volatility of late, whether the VIX has underperformed given current market conditions, whether VIX futures are essentially irrelevant, whether VIX should be marketed as a hedging tool, the inherent differences between implied and realized volatility, Euro vol updates, and much more...

Read more: http://www.theoptionsinsider.com/radio/#ixzz1zVHYNY61
The Options Insider: Your Inside Source For Options Information

Best of Volatility Views: Volatility Discussion with Nobel Laureate Robert Engle

Mark and Don have the honor of speaking with Professor Engle on various aspects of volatility, including: * Professor Engle's move from physics to economics * ARCH and GARCH models, and how the ARCH model was born * The Volatility Institute * Vlab * SoFiE * Professor Engle's work with the SEC's Flash Crash Advisory Committee * The Professor's viewpoint on Dodd-Frank, particularly as it applies to derivatives & counterparty risk.

Volatility Views 58: Cracking the Bond Code

Volatility Review: NASDAQ realized volatility makes a slight upward move, and until we get any evidence to the contrary, this action will likely continue. Volatility Viewpoint: Today's guest is Dr. Madhu Kalimipalli, Associate Professor of Finance and Director of the Financial Services Research Center at the School of Business at Wilfrid Laurier University in Waterloo, Ontario, Canada. Dr. Kalimipalli discusses:
-His research, in which he looks at correlations between overall equity market vol and the treasury markets.
-What kind of skews he sees in the bond markets insofar as implied volatility is concerned.
-Which variable is preferable to use, VIX or the stock turnover, or both?
-How the volatility of a particular underlying correlates to corporate bonds on the underlying.
-If he finds a more exact bond spread relationship in the near-term as opposed to the long-term.
-How actual equity or stock market volatility matters in terms of pricing when you throw in the liquidity factor.

Crystal Ball: Greek elections on Sunday. Could send us off in any direction. The movement of volatility will creep back up to normal levels again.

Volatility Views 57: Turning the Tables on Mark Sebastian

Volatility Review: VIX is back this week, after it ended unchanged at 0.0 before last week's Option Block episodes. Time will tell as we see what happens in Europe. NASDAQ one- and three-month realized volatility has had almost no movement at all, but the trend is surely upward.

Volatility Viewpoint: Long-time panelist Mark Sebastian gets the chance to sit in the guest's seat and discusses what Option Pit is and the world of options education.

Mail Bag: Answering listener questions.
CBOE is in the process of changing the way they list weekly options. How do you think the change will impact weekly options volatility, as well as the way they perform? Thanks again and I love the show. You guys make my commute to work a little more bearable. (Via Facebook from Chris Monty)

In a time spread, which risk/opportunity should I really focus on: gamma or vega? It seems like trading time spreads is essentially finding a proper balance between these two. (Via email from Theodore Johnson, Boise, ID)

I'm and expat American currently living and trading in Germany. As an old-school options trader, I've always considered myself first-and-foremost a volatility trader. I mostly view my positions and I'm always looking for interesting new products like VolContracts, VIX, etc., that will provide me with a new way to hedge/trade volatility. When I moved to Frankfurt, I was very surprised to find that most of my European colleagues don't share that perspective. They aren't up on the latest vol products/research and don't tend to view themselves as vol traders. I've found this baffling so I thought I would write to the authority on volatility to see if I am completely nuts or if this is a well-documented situation. Is vol trading, and the interest in vol products, primarily a localized American phenomenon, or am I just hanging with the wrong crowd over here? (Via email from Charles Stephens, Frankfurt, Germany)

Crystal Ball: We'll have to keep an eye on Europe, but expect little change in realized volatility. There will be a break in S&P in one direction or the other.

Volatility Views 56: More Listener Mail Fun

Volatility Review: Broad selloffs across the markets, due to the poor jobless claims numbers. One-month realized volatility on the NASDAQ was up about half a percentage point to 17.40, and the three-month edged higher to 16.02. Reacting, rather than predicting, was the order of the day.

Listener Mail: We're Going Listener Mail Crazy Again This Week * How do you guys feel the addition of Facebook will impact NASDAQ volatility in the future? (Via Twitter from DAMIAN14)
What's your opinion of Facebook's option vol and options trading so far? (Via email from Tim L. in Portland, OR) * Any update on the NASDAQ VolContracts? (Via Twitter from EuroDJ) * Is delta neutral hedging the only way to trade realized volatility in the options market right now (outside of VolContracts on the Euro, of course)? I like what you guys talk about every week and I'm looking for ways to capture that good ol' "realized vol." (Via Facebook from Steve K., Victoria, BC) * I just wanted to write in to let you guys know that I love this show. Volatility Views is unique in the options podcast world. No one else is out there talking about the stuff you guys talk about or bringing on the guests you guys get. It truly is a fantastic, one-of-a-kind program. So thanks again for putting together such a great show. And Mark - thanks also for The Options Insider Radio Network. You truly are "the voice of options." (Via email from Dick Framingham - Rochester, NY) * Mark "Voice of Options" Longo, Don "sold to you" Schlesinger and Mark "tinny seabass" Sebastian - I have a pressing question that requires your vast expertise. Why, in the name of God, does the VIX have a skew? Shouldn't that information already be represented in the SPX options or am I completely missing the boat on this? Thanks again and I love the network. That new Options Boot Camp show is fantastic. (Via Facebook from Tim Bond, Tulsa, OK) * Why do you think so many attempts to bring OTC vol to exchanges have failed - CBOE variance, etc. (Via Twitter from AXEMAN74) * I know you guys have talked about selling vol when others are buying. Like when a newsletter recommends buying a particular put, for example. How exactly do I execute that trade? Do I wait until late in the day when everyone is done buying, then sell that same option? Can I sell nearby strikes instead? What about the stock? Do I have to hedge delta neutral or one-to-one to really capture the vol premium? I am really interested in this strategy, but a little fuzzy on the actual execution. (Via email from Joe Eftes, Sacramento, CA)

Crystal Ball: We could see 30 shortly in the VIX. All-time low for 10- and 30-year bonds. More volatility -- it's going to get worse before it gets better.

Volatility Views 55: Good Volatility, Bad Volatility

Volatility Review: The play between pre- and post-election Greek volatility has seen big action. Ultimately though, the EU will let the Greeks decided their own fate. Andrew G. does not want to own pre-election juice. Given realized volatility, there has not been much change in the NASDAQ. The three-month realized vol has actually risen somewhat -- replacing volatility that was extremely low just a short while ago.

Volatility Viewpoint: Today's guest is Andrew Patton, Associate Professor of Economics and Finance at Duke University. He is the author or co-author of several academic papers, including "Good Volatility, Bad Volatility." Prof. Patton discusses some of its findings, including the importance of directional movement in forecasting future volatility.

Crystal Ball: In VIX, Andrew G. is just waiting for the Greek election to sell June, buy July, and unleash the time spread. NASDAQ one-month realized may roll over a little bit. The short term might be dropping more, but that is not a ringing endorsement.

Volatility Views 54: Listener Mail Extravaganza, Part Two

Volatility Review: NASDAQ one-month vol came in a little bit, and at the same time the three-month vol went up slightly. The risk premium between implied and realized volatility has widened further. A crazy scenario of implied vs. realized volatility in VIX.

Listener Mail: Mark, Don, and Mark take on listener questions. * All of this talk about JP Morgan has left me wondering, what kind of derivatives hedge loses $2.3 billion? How is that even possible? Help me Volatility Views hosts, you are my only hope! (Todd Lundgren, Pittsburgh, PA) * I Know Bob and Don are big fans of vol cones. How about a vol cone update on the major indices (VIX, NASDAQ, Euro, etc.) for your loyal listeners? Where should I be buying, or perhaps not buying VIX here? (TEDMAS via Facebook) * Hey Don, what index is next from VolX after NASDAQ? Russell? Emerging Markets? Thanks. (Via Twitter from UNCLESTEVE) * Mark is fond of calling NASDAQ "Apple Plus." I know he's joking, but it raises an interesting question about how much the Apple tail is wagging the NASDAQ dog? What percent of NASDAQ vol, or even vol of Vol, is directly attributable to Apple? I'm sure your listeners, me included, would like to know. Also, quick side question for Mark - Is there any way to buy Options Insider gear? I love the logo and I want to do my part to get the word out about the network. (Steve K., Oklahoma City, OK) * Vol crew, why is the VIX term structure coming in so dramatically? The VIX ETPs and annuities are still net buyers of long-term vol. (Max Shreck, Atlanta, GA) * Has the rise of weeklies rendered existing vol studies, and maybe even conventional vol wisdom, moot? (Via Twitter from Todd Dupres)

Crystal Ball: We might start to see levels of realized vol taper off a bit in NASDAQ. The three-month vol of vol is actually lower than the vol of the S&P itself. VIX could reach 30 sooner than later. Bonds are in even worse condition.

Volatility Views 53: An Insider's View of Risk Management

Volatility Review: There is an extra note of tension in the market with S&P vol waiting for the other shoe to drop. NASDAQ vol is slightly higher. JPMorgan news does little to rattle VIX.

Volatility Viewpoint: Today's guest, Todd Petzel, the Chief Investment Officer at Offit Capital, sits down with Mark and Don, and discusses myriad aspects of volatility and risk management. Topics include:
. The instruments he uses to manage portfolio risk
. Structured VIX products
. Go-to products
. Financial investors and their lacking use of options
. Pending regulations concerning position limits

Crystal Ball: Sebastian sees the market bouncing around in the short term. A safe trade may be shorting U.S. treasuries. There is still a continued contraction between implied risk premium and realized vol levels. Vol may go higher, but without anything dramatic moving it.

Volatility Views 52: The Father of Financial Futures

Volatility Review: Listeners from last week may remember Don made a timid prediction that the realized volatility of NASDAQ could be going a bit higher, and it managed to inch up a few basis points. It was a strong down week for equities. Since this selloff was gradual, the actual market volatility was not significant. Greek and French elections this weekend may fuel some volatility moves next week.

Volatility Viewpoint: Today's guest is Dr. Richard Sandor, "the father of financial futures," and Chairman and CEO of Environmental Financial Products. Dr. Sandor discusses his new book "Good Derivatives," and his storied career. He distinguishes between regulated and unregulated derivatives, discusses what it takes to create a new market, and his involvement in the issue of acid rain.

Crystal Ball: There may be an increase in realized volatility on NASDAQ in the next week. Putting a cap on volatility at 20%. Upcoming elections in both France and Greece.

Volatility Views 51: Risk Managers: The Adults in the Group

Volatility Review: VIX options were absolutely crushed this week. Apple after earnings and its effect on NASDAQ vol. Don and Sebastian weigh in on VVIX.

Volatility Viewpoint: Volatility Views welcomes back Euan Sinclair, author and risk manager at Bluefin Trading, to discuss risk management and his work on the barrier (or first time) method for calculating volatility. Euan gives a quick sneak preview of the updates to his book. The group also discusses Euan's opinion on vol of vol, and if the universe of ETPs has dramatically affected the vol of vol.

Crystal Ball: Sebastian is looking at a 14-handle in the VIX and observed that S&P realized volatility was already in the 14s and would probably maintain those levels. Now that Apple's earnings are out of the way, what to look for in the NASDAQ? Getting close to the summer doldrums.

Volatility Views 50: Listener Mail Extravaganza

Volatility Review: NASDAQ (aka Apple+) is starting to see a rise in realized volatility, as had been anticipated. VIX looks like it is settling back into a range, so we will have to see if it holds where it is or moves yet again. We seem to be in flux; there's no real trend here.

Listener Mail: Via email from Tim Siffron, Lansing, MI.I love your show and the great guests you guys manage to wrangle, but I was a little out of my depth with last week's guest. It's been a while since I took a stats course, so your discussion of jump frameworks and stochastic volatility models for pricing OTC variant swaps was a tad out of my league. Can you give a quick, plain English summary of the take-aways from that discussion, for those of us who may have had trouble following along? Thanks and looking forward to the NASDAQ contracts.

Via Twitter from Joe X4.Mark and Don: Who is your favorite Vol Views guest so far? Love the show.

Via email from Aston VaLance, Hoboken, NJ.
Mark L, Mark S and Don: Now that you are discussing NASDAQ vol on the show, do you find that it performs dramatically differently from S&P vol? If so, how much of that difference do you attribute to the relative dearth of NASDAQ vol products versus the explosion of S&P volatility ETPs? Mark L has said many times on the show that the VIX has many masters these days, not just SPX front-month volatility. On the flip side, it seems that NASDAQ vol only has one master. Are these various masters pulling the VIX in different directions from NASDAQ vol? Also, would the lack of NASDAQ vol ETPs "polluting the waters" make NASDAQ implied vol a more pure product from a volatility perspective?

Via the Options Insider forum, from Captain Options.
What causes VIX term structure? Mark L, Don and company: The Vol Views show has discussed the term structure of VIX futures many times in the past; most recently the emphasis has been on the incredibly steep slope of that term structure. I wonder if you could voice your opinions on what you think is actually causing such a steep slope in that product. As my handle suggests, I am more of an options guy than a futures guy, so I'm not particularly familiar with futures term structures and how they should work. I hope my question isn't too remedial for this esteemed panel. And Don, may I say, "Sold to you." Wow. That felt great!

Crystal Ball: NASDAQ volatility at nearly historic lows, which Don predicts will rise over the short term. However, he did not say "buy 'em." Remember his motto re options: "Sell, or don't sell." Sebastian discusses shocking bond movement, earnings season, and Apple.

Volatility Views 49: How Best to Price Variance and Volatility Swaps

Volatility Review: It's funny how it didn't take long for our prediction of a range-bound VIX to be proven wrong! The VVIX has been high. Is a tradable VIX of VIX in the works? What have the NASDAQ and SPX vol of vol six-month averages been? One-year? Don gives some remarkable numbers. Apple on the move downwards; some are eager to buy Apple at 600. NASDAQ vol cones, like most volatility readings, are at historical lows.

Volatility Viewpoint: Today's guests, Thomas Thorsen and Emil Stamp, are the authors of the master's thesis, "Pricing of Variance and Volatility Swaps in a Stochastic Volatility and Jump Framework." The gang discusses pricing models of OTC variance swaps, the different models the authors created, and the accuracy of the models for both forecasting realized volatility, as well as pricing of variance swaps and GARCH models in real-world applications.

Crystal Ball: Are you still shorting the VIX? Are higher levels forecasted for the future? Perception versus reality.

Volatility Views 48: Masters of the VIX

Volatility Review: Not much vol action to report with the markets closed on recording day (Friday). Steep contango in VIX futures has lessened in the past few weeks. Long holiday weekend volatility didn't fully come out of VIX futures and index options, which is highly interesting and unusual. Also an unusual situation -- unemployment numbers were released on a day when the market was closed. Don and Mark discuss contango. NASDAQ volatility update.

Volatility Viewpoint: Mark and Don are joined by David Palmer, Volatility Book Portfolio Manager at Hudson Bay Capital. They discuss the evolution of skew, the growing market of products tied to VIX, and how they're manipulating the underlying, the halting of TVIX share creation, OTC versus listed trading, volatility arbitrage opportunities, rational arbitrage, and hedging and downside protection.

Crystal Ball: Nothing to rant about in S&P land, at least until we reach the next unknown unknown. Summer doldrums are coming. The impact of having such low levels of realized volatility.

Volatility Views 47: How Dynamic Volatility Can Reshape Your Portfolio

Volatility Review: VIX review, with interesting corresponding elements relative to VIX and VIX skew. Monday massive overreaction to the market rally. NASDAQ vol review, driven by AAPL, which is slowing down a bit.

Volatility Viewpoint: Mark, Bob, and Mark are joined by Peter Christoffersen, Professor of Finance, Rotman School of Management at the University of Toronto, and author of Elements of Financial Risk Management and a chapter in the forthcoming Handbook of Economic Forecasting. Prof. Christoffersen discusses dynamic volatility, the Sharpe ratio, and practical applications for the average investor. Mark asks Prof. Christoffersen whether it's possible to have a truly diversified portfolio without having some kind of volatility asset. He also discusses his research on skew and its impact on the underlying instrument.

Crystal Ball: Looking deep into the murky ether of the future of volatility, Mark and Mark pontificate on the contango environment of VIX futures, with Sebastian seeing VIX staying between 14 and 17. Will AAPL vol come in? As AAPL goes, so goes the NASDAQ. There might be an increase in volatility post-Easter, with the beginning of earnings season.

Volatility View 46: Volatility Discussion with the Godfather

Volatility Review: Slaughter of the VIX April future, with May poised for the same. Credit Suisse released more creation units and TVIX crushed long positions - going from 13 to 6.5 in a week. Euro vol review -- March 1- and 3-month contracts expired last week. NASDAQ vol update.

Volatility Viewpoint: Mark, Bob, and Mark have the great pleasure to discuss volatility with the Godfather: Anthony Neuberger, Professor of Finance at Warwick Business School. The gang discusses his seminal paper, "The Log Contract and Other Power Contracts.” They also discuss tail risk and skew risk. Mark asks Prof. Neuberger if the market is correctly pricing in tail risk.

Crystal Ball: Sebastian sees VIX staying between 14 and 16, with a lot of erosion in VXX. Watch out for contango. Euro vol is a coin flip right now. NASDAQ vol might be too expensive right now because of Apple.

Volatility Views 45: What Does Butter Have to Do with It?

Mark is joined by Volatility Exchange CEO Bob Krause croquet courtside at the FIA Boca Conference.

Volatility Viewpoint: Mechanics of the forthcoming Nasdaq VolContracts. Bob gives details on the genesis of the product, the formula, how it captures movement, the agreement with Nasdaq, the difference between VolContracts and other Nasdaq-based products, the specifications, the closing price, and more.

Volatility Views 44: Listener Mail Extravaganza

Volatility Review: Vol is down and SPX is up. Even the news of the new iPad wasn't enough to boost the market. Don opines on Apple. Nasdaq vol still flat-lined. Euro vol -- the 1-month and 3-month March contracts expire soon.

Listener Mail: Nasdaq VolContracts, TVIX, the nature of VolContracts, and avoiding the VIX.
1. Will the new Nasdaq VolContracts be exclusive to the Nasdaq, like the Euro and CME, or multi-listed?
2. What's your take on the ongoing TVIX drama? Cause? Was it shady? Is TVIX done?
3. I'm new to the show, so I apologize if you guys have discussed this in earlier episodes, but I'm intrigued by the concept of VolContracts and how they work. Would the new Nasdaq products be normal futures and options in the truest sense? In other words, do normal strategies such as verticals, time spreads, etc. apply in VolContracts products? Or, do I need to relearn my trading fundamentals and apply some new concepts to fully capitalize on these instruments?
4. I hear you guys talking about the problems with using VIX as a proxy for SPX volatility: Poor settlement, too many masters affecting the VIX, etc. So instead of VIX, I'm thinking of getting a pure realized vol position using delta-neutral ATM straddles in SPY. The contract size is smaller, so it's easier for me to trade. As long as I make my hedges and adjustments accurately, this should be a vastly superior proxy for the true S&P volatility. Am I correct or am I nuts?

Crystal Ball: Non-farms may be a non-event. Load up on VIX downside. Hopefully the Nasdaq vol can break out of this flat line and the other shoe will drop. Otherwise it's difficult to make any predictions.

Volatility Views 43: Are Weekly Options Ruining Volatility?

Volatility Review: The VIX was gaining ground again, but became mired in a holding pattern. What was the cause of the influx of capital in TVIX? NASDAQ vol is still flat-lining. Euro vol review.

Volatility Viewpoint: Sanjay Tolia of Bengal Capital is the featured guest. A great conversation included questions such as: Are high levels of correlation taking away from single-stock option trading? Are high levels of correlation taking away from running balanced volatility portfolios? Are VIX products good or bad for retail investors? Are weekly options good or bad for retail clients? Is their explosive growth good for the industry?

Crystal Ball: Until people start hitting the bid or lifting offers, VIX levels are going to stay in this range. Expect a similar stall in NASDAQ. Don predicts that Euro vol expiration settlement price next week will be lower than the 10.27 of Thursday night, and will settle in the mid-9s.

*Volatility Views 42: Pricing VolContract Futures: Part History, Part Mystery*

Volatility Review: Euro vol review. How has the Greek settlement affected Euro Vol? Nasdaq vol review. S&P’s overly dramatic brother, Nasdaq is an interesting beast these days. Many of the swings in the S&P are greatly exaggerated in the Nasdaq, due in part to the tech-heavy nature of the index. How has that played out from a vol perspective? Are we seeing the same degree of selloff in the Nasdaq vol? An explosion of volume recently in the T-VIX. There is something very interesting going on. Volatility Viewpoint: Don discusses a little about expected pricing of VolContracts — information he touched upon before, but needed some clarification.

Listener Mail: Question 1: I know Mark has said several times in the past that the difference between retail options traders vs. pro options traders is that retail trades direction while professionals trade volatility. I wonder if you guys can elaborate on this a little more, as I'm a little confused by the distinction. Do pros implement different strategies? Different products? How do they trade volatility and how does that differ from the way retail trades options? Question 2: Nasdaq or SPX — Which has had the greatest "vol of vol" over the past few months? Crystal Ball: The continued discrepancy between the VIX futures and VIX cash — how will that play out? Will the Nasdaq continue to hover in this range, or will we see a turn south sometime in the near future?

Volatility Views 41: Breaking Open the Volatility Mailbag

Volatility Review: SPX/VIX review — some level disparities between the VIX cash and the VIX futures. Euro vol is in single-digit territory. Nasdaq VolContract preview.

Listener Mail: Comment on the Great Volatility Skew Debate, Don's comments on volatility, and questions about Nasdaq VolContracts.

Crystal Ball: How will the disparity between VIX cash and VIX futures unwind? Where will Euro vol go next?

Volatility Views 40: Manipulating The VIX

Volatility Review: Euro vol review. March Euro VolContract has an interesting phenomenon brewing — realized vol calculation is 7.93, and the inferred volatility is 10.84. How or where will they meet? Major correlation break in VIX/S&P 500.

Volatility Viewpoint: Not afraid of controversy, the panel discusses the notion of VIX settlement price manipulation with Henry Schwartz, founder and CEO of Trade Alert.

Crystal Ball: Short VIX going into the weekend, but then watch out for the unknown unknown. Don makes a shaky prediction that the Euro vol will dip lower.

Volatility Views 39: Redefining Normal

Volatility Review: How low can vol continue to go? Dancing around 17 in VIX cash. We have finally reached perfect equilibrium. The last 22 trading days of realized volatiity was 6.73 for the S&P, the lowest Don has remembered since 1994. Lofty numbers have skewed people's ideas of "normal," and it's time to reassess the definition of it. Expiration day for the February Euro VolContract.

Volatility Viewpoint: Mark, Mark, and Don discuss volatility correlation, overlays for equity portfolios, and several other uses for volatility products with Simon Acomb, from Acomb Financial Research, Ltd.

Crystal Ball: Dipping into the murky depths of volatility. Mark S. sees a flattening of the VIX yield curve, and thinks it makes sense to isolate gamma and short VIX using S&P versus VIX futures. Don provides insightful Euro vol picks. Information on the volatility workshop that Simon discussed can be found here.

Volatility Views 38: The Great Skew Debate

Volatility Review: What is going on with the VIX? How low can it go? Sebas sees VIX going to 16. Don gives a Euro VolContract update, noting the equity-like behavior (underlying increased, while vol dropped). Looking forward to the Nasdaq 100 VolContracts.

Volatility Viewpoint: Mark, Mark, and Don discuss volatility and skew with John Bilson, Professor of Finance at the Illinois Institute of Technology's Stuart School of Finance. Professor Bilson also proposes two new types of contracts for the marketplace.

Crytsal Ball: Right now, there are good opportunities to buy individual equity options because volatility is so low. Mark Sebastian uses AAPL as an example. The impact of the leverage effect. Don thinks that the vol levels on the Euro VolContracts look just about right.

Volatility Views 37: Volatility: How Low Can It Go?

Volatility Review: Might we see VIX below 20 for some time to come? Euro vol up slightly since last week -- Bob Krause called it correctly. Two weeks to go in the Feb VolContract.

Volatility Viewpoint: Don gets a chance to give his views on last week’s topics and talking points from Nikunj Kapadia, Associate Professor at the UMass Eisenberg School of Management.

Mailbag: VolContracts on the NASDAQ!!!“Woohoo!! This is what I've been waiting for, a realized VolContract on an underlying that I actually trade. This is going to open up a whole new world of trading possibilities for me. I can't wait to short VXN and buy the realized Nasdaq product. I won't need to wait for Don to earn me an island in the Bahamas, I'll pick one up myself when I collect all that juicy risk premium. In all seriousness, I couldn't be more excited by this announcement. This will be an enormous development for VolX as well as for all the realized vol aficionados out there. As the book says ‘We are legend.’”

Options on NASDAQ Vol Contracts
“On the last show Bob Krause announced that VolX is planning to launch Vol contracts on the Nasdaq. He also said that you plan to launch the full suite of products on the Nasdaq VolContracts, including options. Now correct me if I'm wrong, but wouldn't the option be priced on an implied volatility basis? So essentially, you'd have an implied volatility instrument trading off a realized trading instrument. That is an intriguing scenario, but the inherent contradiction makes my brain hurt whenever I think about it for too long.”

Crystal Ball: Vol could stay below 20 for a while, VIX futures are even on sale. Is volatility at 12 realistic for the Euro going forward?

Volatility Views 36: The VIX vs. Black Swan: Analyzing Tail Risk in the VIX

Volatility Review: Another interesting week in general volatility. Although predicted to settle around the new mean of 23-25, VIX is down to 19. Where will it go next? CBOE has finally put out an adjustment to their settlement process. Euro VolContract review.

Volatility Viewpoint: This week's guest, Nikunj Kapadia from UMass, sits down with Mark and Bob to discuss Black Swans, volatility pricing, tail risk, and buy-writes.

Crystal Ball: VIX may be headed towards 19 from heavy pressure on VIX Jan and Feb futures. Could we really see an explosion to the upside? Big news at VolX!

Volatility Views 35: Aggressively Selling Volatility in the New Year

Volatility Review: After a holiday hiatus, Mark, Don, and Mark Sebastian discuss and review current and upcoming vol in 2012. The $64,000 question: Why is vol getting crushed? What's happening in the Euro zone?

Volatility Viewpoint: A grab bag of volatility topics in this viewpoint section, including: VIX futures--how they trade, the nature of their term structure, contango, etc., and actual realized vol in the market for the past year.

Mailbag: Best method of volatility measurement? "I've just found this show on iTunes and I find it very enlightening. Thank you for producing a quality show on this topic. I'm relatively new to options and I'm looking to do some basic modeling to get a better handle on options pricing and performance, but I'm hung up on which volatility measurement to use in my model. Close to close volatility certainly seems easiest but I'm not sure if it would be accurate enough for my needs. Should I try for something intra-day or should I stick with the easy path? Thanks, John."

Crystal Ball: Vol, S&P, VIX, EuroVol Contracts, and Jan futures--where are they moving this year? A few new contracts may be in the pipeline over at VolX.

Volatility Views 34: A Break from the Insanity

Volatility Review: This was an intriguing week for volatility action. Strange week in the world of VIX, with it finally returning to "normal." The novel concept of being fully insured. The seasonality of VIX--general uptrend in market plus professionals taking money off the table equals a perfect storm in VIX. Euro VolContract updates--December one-month went out at 11.12, three-month at 12.84.

Volatility Viewpoint: Mark and Don discuss volatility with Stephen Figlewski, Professor of Finance at NYU's Stern School of Business, founding editor of the Journal of Derivatives, and Director at the Nasdaq OMX Derivatives Research Project.

Crystal Ball: VIX at a much more tolerable level, but Mark thinks it will vascillate in this "new mean" for quite a while. January Euro VolContract is fairly new, but volatility is forecasted to be lower going out.

Click here to access the Salomon Center that Prof. Figlewski spoke about in Volatility Viewpoint.

Prof. Figlewski's personal webpage is available here.

Volatility Views 33: The Art of Managing Volatility

Volatility Review: VIX has been up and down around the 30-handle, but now it is time for it to begin to settle at a more normal level. Friday was quarterly expiration day in the Euro VoContract futures, with the front one-month and the December three-month going out.

Volatility Viewpoint: Today's guest, Chris Cole, Managing Director at Artimus Capital Management, sits down to discuss VIX options and futures, volatility doldrums, and the trading approach at Artimus.

Crystal Ball: VIX is a coin flip with regard to both the long-term and short-term mean. The gang looks at the January one-month and March quarterly Euro VolContracts and their implied volatilities versus potential realized vol.

Volatility Views 32: Larry the Legend

In this episode, Mark, Don, and Mark Sebastian are joined by Larry McMillan.

Volatility Review: Last week saw a lot of volatility action. VIX downside positions are just starting to pan out. Are people buying insurance or are they buying gamma? Seasonal drain to volatility. Euro VolContract update--one week left to go in the front-month contract.

Volatility Viewpoints: Larry McMillan, recent winner of The OIC's Sullivan Award, discusses how volatility derivatives have changed the landscape of vol trading. Larry waxes nostalgic on the days when there weren't puts on every stock. The virtues of upside VIX calls versus SPX puts to hedge a portfolio. Discussing the fine art of gamma scalping.

Crystal Ball: Wild prognosticating from the panel. The market will have trouble supporting current vol levels. Sebastian likes buy-write opportunities in gold right now. Larry still has a bullish bias to the market. With expiration week for the front month upon us, Don sees Euro vol settling at around 12.40-12.75.

Volatility Views 31: Live from Las Vegas

Volatility Review: It's been a rough week for the equity markets. With the weekend decay out, and the super committee's report due this week, is it time to buy or sell the VIX? Is leverage causing a rise in volatility? What's going on with the Euro FX VolContract, and what does realized volatility look like right now? What's the latest news on the Dec one-month VolContract?

Volatility Viewpoints: Bob talks about the long-term future of volatility, the volatility of volatility, and how efficiency affects the market. Also, Bob discusses his initial thoughts of the article in Futures magazine written last week.

Volatility Interview: Dan Cook, Director of Business Development at the Nadex Exchange, joins Mark and Bob in the interview segment.

Crystal Ball: With the VIX at 33, we need the market to move 2% per day to pay for VIX. Is that possible, or are we looking at a potential meltdown? If we see the VolContract fall anywhere below 13%, should we be looking to get long FX vol?

Volatility Views 30: Epithet Etymology Volatility Review: Only four days into the new front month of December, we have a ton of volatility. Greece and Italy are leading the way, dictating how the market will trade day to day. Mark Sebastian's week in review. Is Europe ramping up or winding down? The trend of net unit buyers continues into today.
Volatility Viewpoint: This segment was kicked off by an article in Futures Magazine, "Stock Market Trends and the Volatility Premium by Marco Erling. We felt the article would be right up the alley of Volatility Views listeners.
Mailbag/Crystal Ball: WHERE ARE WE ON THE EURO VOL CONE? I know the guys over at VolX are big fans of the vol cones. I'd like to know where the Euro VolContracts currently fall on the vol cones spectrum. It sounds like they would be a screaming sell at these levels. Am I correct, and do the hosts agree? Until the VIX proves it can hold 30 and lower, it may be a good time to hold premium – good for gamma scalping.

Volatility Views 29: Other Volatility Indices

Volatility Review: The VIX cash and the VIX, in general, have been on quite the roller coaster ride. With further concerns about Greece, and now Italy as well, the VIX bounced right back to the 32 level. Greece continues to set the Euro on fire. Don discusses the recent expiration of the front month November Euro VolContract.

Volatility Viewpoint: Don discusses some of the hedging aspects of using VolContracts against options positions or equity portfolios, and some general logistical issues for listeners who are looking to add VolContracts into to their portfolio for the first time.

Mailbag: Volatility on Other Indices.
Hello Vol Views Crew: Love the show. Keep up the good work. My question concerns the viability of volatility products on indices other than the S&P. For whatever reason, none of those products have managed to attract volume or attention like the VIX, even when the ones that were created by the CBOE. To what do you attribute their failure? Is there something inherent to those indices to make them poor candidates for vol products, or is the S&P simply an ideal candidate for vol products? Thanks for your insight.

Crystal Ball: With so much uncertainty coming out of Europe, how long will sentiment factor in vol remaining high? Can Euro volatility at 15% last for the rest of the month? Plus, Mark Sebastian's weekly outlook.

Volatility Views 28: Day-Trading VolContracts

Volatility Review: Mark Sebastian's week in review. Euro vol a roller coaster ride recently -- two big moves during the first two and a half weeks pulled the one month Nov up and down.

Volatility Viewpoint: Trading VolContracts intra-day, and some of the opportunities and mathematical applications inherent in this type of trading.

Listener Mail: How Would You Update VIX?
Hello: Since VIX is still the brand name for volatility with much of the investing public, I would like to know what tweaks/upgrades you would suggest for future iterations of the VIX.

Crystal Ball: Euro vol outlook -- will we move lower from here? Also, Mark Sebastian looks into his crystal ball.

Volatility Views 27: Stealing the Mean Volatility Review: A bit of a roller coaster ride with the S&P 500 and VIX -- A general rally in the broad market and a resulting sell-off in the VIX going into this weekend. Don gives a review of the ever-unfolding and crazy world of Euro vol. Plus, Mark Sebastian's week in review. Volatility Viewpoint: A continuation of the discussion about skew, kurtosis, etc. Why don't we remove the mean in our volatility formula and why doing it this way is a better hedge for options traders. Listener Mailbag:Volatility Trading for Retail
Hi Guys: I imagine I am one of the many retail options traders who regularly tune into your program, even though much of it is way over my head. I've heard you guys discuss delta neutral trading in the past. My question is whether you think this is an appropriate strategy for retail options traders to adopt. Is it viable to trade delta neutral with a regular online brokerage account these days? Also, I know Mark Longo has said on previous programs that retail tends to be directionally oriented and professionals trade vol. I'm sure that's the case for a reason. Why do you think so many retail traders fall into the directional vs. vol camp? Thanks for the show. I'm learning something new every week -Facebook question from Dabney K, Ontario, Canada. New VolContracts
Don's hinted at new vol contracts coming soon on equity indices. Will these utilize the same formula as the euro or will there be slight tweaks for the different underlyings? - Twitter question from Oseo Crystal Ball: Mark Sebastian weighs in on the upcoming week. Also, an outlook of Euro vol for the remainder of October.

Volatility Views 26: Live from FIA Chicago Taped live before a packed audience, Mark, Don, and Mark Sebastian are joined by Chris Strong, Director of Research for Liberty Funds. If you can imagine Crossfire meets Sports Center meets Fast Money, then you're half way to understanding how great this episode is.

Volatility Views 25: Skewness and Kurtosis

Volatility Review: Metals and gold vol. Euro vol review: Don talks about the recommendations he had made to sell the Euro VolContracts a week ago Thursday, and where they settled this past Friday - a product rich in volatility. S&P, Nasdaq, and commodity vol review. Plus, Mark Sebastian's volatility review.

Volatility Viewpoint: A quick primer on mean, median, standard deviation, skew-ness, and kurtosis of distributions, and why we don't remove the mean for vol calculations. Plus, explaining negative market skew-ness, leptokurtic behavior of stock prices, etc. As always, we keep it easy to understand and non-intimidating.

Mailbag: Captain Options asks, "Given the explosion of popularity in weekly options, I'm curious if Mark & Don think there is room for short-term realized volatility products. Would a weekly realized vol product even make sense at this point given the short time frame of the product? Can you generate a worthwhile calculation of volatility in such a short time frame?"

Crystal Ball: S&P, Nasdaq, and commodity Vol outlook. Euro VolContracts outlook. What's coming up at VolX and Option Pit?

Volatility Views 24: Precious Metals Volatility Explosion

Volatility Review: The markets are turning green after a recent sea of red. A huge sell-off in gold and silver -- the story here is that people are rolling out of gold and precious metals and keeping funds in cash to be in a position to buy the market when it reaches the bottom. VIX review -- volatility certainly got scary for a little while. Euro vol review. Mailbag:

"I've been listening to the show for some time and have become intrigued by the concept of VolContracts. I think I have a decent handle on the differences between implied versus realized volatility and I'm ready to take the next step. But that's where I'm stuck. How do I trade VolContracts? I don't see them promoted or even mentioned by any brokerage firms. If I call or email my broker (Interactive Brokers), are they even going to know what I'm talking about? Do you have any brokers that you'd recommend for their expertise with VolContracts? Also, since they are listed by the CME and track realized vol of Euro futures, I assume that I will need a futures account to trade them. Lastly, are these listed on Globex so I can trade them electronically or do I need to put an order into a pit?"
"Bob Krause advocated the use of volatility cones on a recent show, and I know Don has discussed them in the past as well. However, Mark made an excellent point in a recent episode that, in this environment, vol cones may not be the best barometer for where you should work your orders. It got me wondering if maybe there were certain market environments where vol cones were extremely useful, and other times, such as the current environment, when waiting for mean reversion is the quickest way to blowing out. Long Term Capital immediately comes to mind. I'm wondering what you guys think on this issue. I think I know where Mark stands, but I wonder where Don falls on this since I know he is an ardent fan of vol cones."

Crystal Ball: Metal vols -- have we just witnessed the bottom of gold and silver? Mark Sebastian predicts VIX to hit 50 in the next three weeks. We are halfway through the Oct VolContract, and as of Thursday the contract settled at 15.87 -- you would need 18 volatility on the Euro, going forward, to justify that price.

Volatility Views 23: Can You Eat Risk-Adjusted Returns?

Volatility Review: VIX futures vs. VIX cash -- many long-dated contracts predicted the sell-off in VIX cash that is now materializing. Bond vol has been crazy, and bonds themselves have been very expensive. Implied and realized volatility. Volatility Viewpoint: Don takes this viewpoint segment to discuss the ideas and principles behind the Kelly Criterion.

Crystal Ball: With the VIX in decline, as it moves toward the prediction given by long-term futures, will it dip and then turn back to the upside? An outlook of Euro vol -- with the period of arb availability gone, can we find a new relationship to exploit?

Volatility Views 22: Bringing Don to the Dark Side

Volatility Review: A broad market volatility review – it's been another volatile week. The market sold off in the wake of a European central bank resignation. Euro vol review – where did Mark and Don's wager close out? Do they have enough for a private island in the Bahamas? Plus, OptionPit.com's Mark Sebastian gives his review of the week.

Volatility Viewpoint: In this combo Volatility Viewpoint/Listener Mail segment, Mark and Don answer a question from the Options Insider Forum: "I enjoyed the conversation last week between Mark and Bob about the Volatility Feedback Effect. They mentioned that Don is not a fan of this theory and that Bob and Don have had many fights on the subject. I'm curious what Don's issues are with this concept and what he feels is the truth on the matter." Indeed, Don gets his rebuttal, and gives his two cents about the volatility feedback effect.

Crystal Ball: Mark Sebastian's outlook for the coming week, as well as an outlook of S&P 500 volatility and Euro vol.

Volatility Review: A review of SPX, VIX, and pricing the weekend out. Non-farm payroll: what was the impact on vol? Euro vol review. How did Mark and Don's gentlemanly wager on three- and one-month vol fare from last week? Plus a live Vol Review from OptionPit.com's Mark Sebastian. Volatility Viewpoint: Volatility Exchange CEO Bob Krause talks inverse correlation - is this specifically to address the VIX negative correlation perception? How can we tell if the market is bullish or bearish? Skew and the somewhat controversial topic of the volatility feedback effect are also on the docket. Is the market trying to forecast future returns? As volatility rises, the market must fall, but does it work the other way as well?

Listener Questions: Mark and Bob reach into the dark recesses of the mailbag. Why exactly is selling a three-month VolContract not the same as selling three consecutive one-month VolContracts? Is it analogous to the difference between writing a three-month option vs. three consecutive front-month options?

Crystal Ball: An outlook of SPX & VIX. Could we pick up a free weekend on Friday? Euro vol outlook - How will the one- and three-month VolContracts fair?

Volatility Views 20: Divergence & Convergence

Volatility Review: A rundown of VIX, Euro VolContracts, and the equity markets. Interestingly, we have the simultaneous expiration of both the one- and three-month products, so what does their discrepancy in implied volatility suggest? Mark Sebastian gives his volatility review.
The Mail Bag: Don and Mark reach into the mail bag and answer listener questions.

Can gamma scalping/hedging be the cause of, or catalyst for, the recent massive down days in the market? Submitted by: Jersey Boy
The CBOE has had S&P 500 variance contracts available since 2004. Why have VT and VA never taken off and how does VIX remain the volatility hedge of choice with all of its quirks? Submitted by: ZPF
I'm eagerly looking forward to more guests. Who do you have on tap for future shows? Submitted by: Complete Beginner
The Crystal Ball: An outlook on the Euro vol. Will there be a convergence of the one- and three-month products? Mark Sebastian looks into the crystal ball for the coming week.

Volatility Review: Volatility contracts have calmed a little - a surprise given what the recent history for the previous contacts has been. A rundown of the weekly VIX, Euro VolContracts, and the equity markets. Plus Mark Sebastian gives his volatility review.

Volatility Viewpoints: Special guest Euan Sinclair author of several books including "Option Trading" and "Volatility Trading" and risk manager at Blue Fin Trading discusses measuring volatility. Euan's concept of barrier method or first exit time method vs. the standard close-to-close method.

Crystal Ball: An outlook on the Euro vol; Mark Sebastian looks into the crystal ball for the coming week.

Volatility Views 18: The Chicago Way

Volatility Review: Volatility has been on quite the roller coaster since the last show. A rundown of the weekly VIX/Volatility as well as the Euro Vol. Plus Mark Sebastian gives his volatility review.

Volatility Viewpoint: Special guest Dan Keegan from the Chicago School of Trading discusses teaching the newest crop of traders. Commodities - the sexy world of ags and metals. Delta neutral vs. realized vol.

The Crystal Ball: An outlook on the Euro Vol. Also Mark Sebastian looks into the crystal ball for the coming week.

Volatility Views 17: Busting Volatility Skew Myths

VOLATILITY REVIEW: The debt ceiling deal and its effect on the market. Euro VolContracts trading on the CME.

VOLATILITY VIEWPOINT: Busting Skew Myths!!!! Does the Lottery Effect actually exist? Do flaws in the Black-Scholes model create skew? Were options traders prior to 1987 completely insane? Also, an exploration of the fundamental and psychological causes of Equity/Investment skew.

CRYSTAL BALL: An outlook on the weekend risk- What could happen? PLUS: Mark Sebastian gives his forecast for the coming week.

Volatility Views 16: Risk Premium

Volatility Review: Interesting week with the market not doing much, but volatility increased anyway. The market's "in a pickle" until the debt issue is resolved. July 8 was the fifth expiration for the Euro VolContract, which showed greater than 29% movement in the price during the life of the contract. The August contract has provided 16% vol movement in the first three days of the contract.

Listener Mail: Mark and Don answer questions from listeners, including: Why did an option price drop as the stock price went up, and; what is a sellers' premium in options?

Crystal Ball: Mark foresees no debt deal over the weekend. If anything can push VIX to 30, will this be the event that does it? Front month Euro vol likely to go lower.

Volatility Views 15: Know Your Volatility

Volatility Review: Vol gets demolished. Volatility modeling is not accurate. Range-bound volatility. Euro vol at expiration looking calmer than previous expirations.

Volatility Viewpoint: Featuring Mike Cavanaugh from Know Your Options, Inc. The gang discusses the role of volatility in their collar strategies, the great VIX disconnect, self-directed trading, VolX products, and appropriate hedging techniques for different audiences.

Crystal Ball: Earnings season. European debt woes. Uptick in vol for currencies, and overall volatility. Friday was the Euro VolContract expiration. August contract coming up. Euro vol abatement indicated by GARCH model.

Volatility Views 14: The Unknown World of Volatility Technical Analysis

Volatility Review: Much ado about nothing? Big steps forward and back, but where is vol going? Will the long holiday weekend pull the vigor out of the markets? Euro VolContracts see higher than usual levels of volatility.

Volatility Viewpoint: Mark and Don interview Kirk Northington, author of Volatility-Based Technical Analysis, founder of Northington Trading, LLC, and Meta Swing Platform, and the man behind TradingTheInvisible.com and MetaSwing.com

Crystal Ball: Volatility cannot stay this high. VIX will fall to 18 before expiration. Watch out for employment numbers on 7/8. Mark thinks that currency vol will plummet by the end of June; Don has heard interviews to the contrary.

Volatility Views 13: VIX and More

Volatility Review: Mark, Don, and special guest Bill Luby talk about the roller coaster week of volatility and if premium sellers were artificially keeping the VIX down. They also explore whether the VIX has underperformed given recent market conditions, as well as whether the product should even be promoted as a hedging tool. Euro vol update with an inversion occurring on Wednesday.

Volatility Viewpoint: Are VIX futures irrelevant? Inherent differences between realized and implied volatility. VIX as a hedge. VIX futures discussion 2.0: the other side of the coin. VIX changes wish list.

Crystal Ball: Europe situation making predictions cloudy. Bill's looking for a binary market. Euro VolContract prognostications.

Listener Mail: Excel questions lead to religious discussion.

Volatility Views 12: Tasty Vol

Volatility Review: Euro vol update. Robert Engle's Volatility Institute Forecasts are on the VolX.us website, and predicting that expiration values for the July 1-month and September 3-month VolContracts will be in the mid 10 range. Is the market finally starting to respect volatility?

Volatility Viewpoint: Mark and Don talk to Tom Sosnoff, CEO of Tastytrade, and founder of Thinkorswim. They discuss the impact of weeklies on option volatility; the difficulties associated with launching new products in the options market; whether futures contracts are even relevant to retail customers and much more...

Crystal Ball: There is still room for the S&P 500 to drop.

Volatility Views 11: Good Sources of Volatility

Volatility Review: Divergence between realized and implied volatility. Expiration day for the June 1- and 3-month VolContracts. Don't write off the last trading day; every data point matters.

Volatility Viewpoint: Mark and Don discuss their resources for volatility news and information.

Crystal Ball: Will the S&P 500 hit a critical psychological point? Where will VIX go if it does? July 1-month and September 3-month VolContracts trading now.

Volatility Views 10: Options Die A Little Every Day

Volatility Review: Hit the bids and then hit the road? Significant fear uptick. Should VIX skew exist? Commodities adjustments set volatility running. Euro vol: simultaneous expiration of the June 1- and June 3-month VolContracts on Friday. When do remaining time frames open the door for arbitrage opportunities?

Strategy Session: If realized volatility is such a good way to capture and trade vol, what incentive is there to short a realized-vol product?

Mail Bag: What are Mark and Don's views of trading vol going into earnings?

Crystal Ball: Super low realized vol for IBM. Euro vol expiration Friday. Will "sell in May and go away" apply here as well?

Volatility Views 9: Managing Ratio and Calendar Spreads

Volatility Review: The May 1-month Euro VolContract settlement ended at 12.77, more than 50% higher than March or April. What will June bring? Two contracts currently trading: June 1-month and June 3-month, creating an interesting arbitrage opportunity.

Strategy Session: 1x2 ratio spread. Don discloses that he sold premium. Spread management, or finding the right parking place. Resisting the dark side. Calendar spreads and choosing which way to cheer. Greek management. Position management goes beyond expiration dates.

Listener Mail: A suggestion comes in for a potential new segment reviewing OTC trading activity. What do Mark and Don think of the listed versions of OTC vol products? See: OTC cabal. Blackjack tips.

Crystal Ball: Looking at potential arbitrage opportunities through June Euro VolContract expiration. Volatility cone updates.

Volatility Views 8: Live From OIC 2011

Live from Savannah, Mark is joined by Robert Krause, CEO and Chairman of the Volatility Exchange.

Volatility Review: Euro vol contract update: stable, but at a high level, hanging out at the 12.50 range. Bob gives a detailed overview of how the product works.

Crystal Ball: The news makes it reasonable to think that volatility will stay high. What is coming up next for VolX? New volatility indices: three different time periods for three new indices, a historical lookback, the volatility of volatility, and a GARCH-based forecast.

Volatility Views Episode 7: Venturing Into The Volatility Mailbag

Week In Review: Market and IV both rally, crushing call spreads. Euro vol has surprising pop, with May settlement significantly higher than March or April.

Listener Mail: Selling ITM Covered Calls To Capture Skew; What is the time frame for new VolX Products? Will there be realized volatility contracts on AAPL? SPY? Volatility cones for equities? Comments on Robert Engle interview.

Crystal Ball: Commodity selloff continues. Volatility is priced like there might be an increase in realized vol. Volatility begets volatility. June Euro vol contract now available.

Volatility Views 6: Volatility Discussion with Nobel Laureate Robert Engle

Mark and Don have the honor of speaking with Professor Engle on various aspects of volatility, including:

Professor Engle's move from physics to economics
ARCH and GARCH models, and how the ARCH model was born
The Volatility Institute
Vlab
SoFiE
Professor Engle's work with the SEC's Flash Crash Advisory Committee
The Professor's viewpoint on Dodd-Frank, particularly as it applies to derivatives & counterparty risk.

Volatility Views 5: The Thwack of Volatility

Volatility Review: Sell-off of VIX cash going into the long weekend, with the normal pattern of a pop on Monday. Euro VolContract update. Sebastian talks about the thwack of volatility.

Strategy Session: Dynamic vs. static hedging for professional traders. Don recommends two articles:

Volatility Hedging - Turn Up the Static!
Volatility Exposure for Strategic Asset Allocation

Listener Mail: Keep those cards and letters coming! Don and Mark tackle the disadvantages of variance swaps, the stickiness of ATM volatility, and individual name VIX products. To access the Volatility Views section of the forum, click here.

Crystal Ball: Stabilization of vol? Keep an eye on commodities. Euro vol is half way through the one-month May contract.

Volatility Views 4: The Many Flavors of Volatility Cones

Volatility Review: We get a real-time look at the volatility of volatility with a big one-day move in the Euro vol contract. "Sell" was the word in vol last week. Contango craziness.

Strategy Session: Contango - a basic introduction; Mean reversion - beyond basic introduction; Volatility cones as a trading signal: they come in many flavors.

Crystal Ball: Interesting vol ahead, both in the Euro contracts, and in the market in general. VIX cash fluctuations. Sebastian predicts that S&P will downgrade U.S. debt on Monday. Are you ready for "Sell in May and go away"?

Volatility Views Episode 3: Root-Mean-Square

Week in Review: Slow and low? That's the volatility understatement of the year. Ten-day realized vol is near two-year lows. Is this the eye of the hurricane or the calm after the storm? Implied vol really low, although IV ended up on the week in the S&P 500. Market doesn't completely trust the low vol levels.

Strategy Session: Continuing last week's discussion, we begin looking into logical errors when deriving volatility over discrete periods. The simple answer: Root-Mean-Square. Don walks us through the math, as well as the usefulness of this method when looking to hedge volatility exposure over a longer period of time. Cheap volatility and buying or selling premium? Mark and Don discuss their own thoughts on these two matters.

Crystal Ball: Yay...no government shutdown, which may actually put a damper on upcoming vol. However, if oil continues to rally, and indications of interest are rates rising, we'll see increases in IV. Good news doesn't rally market = warning sign. Upcoming numbers to watch: Retail sales; beige book; Michigan sentiment; PPI; CPI. GVZ: Gold vol index starts trading options at CBOE starting 4/12. When will oil and the broader market diverge?

Volatility Views Episode Two: The Shadowy World of Volatility Swaps

Mark and Don are joined by Mark Sebastian from Option Pit. There is no shortage of opinions on volatility this week.

Volatility Week in Review: VIX cash down, but how much does the weekend take out of it? Review of the new skew index; Euro VolContracts (TM) show a sharp volatility decline over March; VolX adds RSJ as a market maker.
Volatility Viewpoint: Exploring the shadowy world of volatility & variance swaps; Using OTC volatility and variance swap markets to capture vol. The nature of the payoffs. Realized volatility options in the cards. Inferred vol.
Crystal Ball: Sebastian thinks that vol has hit a bottom and that it will be ticking up. Don wonders if that means that the market will fall? Not necessarily...

Volatility Views Premiere Episode: Can Delta Neutral Capture Pure Volatility?

In the debut episode, Mark and Don are joined by Dan Passarelli from Market Taker Mentoring.

Volatility Week In Review: Volatility taking a steep downturn as concerns lessen; Skew Index - Can it predict Black Swans?; why has volatility dropped; the phenomenon of markets dropping precipitously and rising more steadily; Euro vol discussion.
Strategy Session: Delta neutral trading: what is it? why do it? how to do it.
Crystal Ball: Good time to pick up downside protection; currencies looking to the upside for vol

Volatility Views: Preview Two

In this second sneak preview of Volatility View, Mark and Don record live from the croquet fields in Boca Raton.

Topics discussed include:

Japanese devastation spikes volatility
How the volatility smile turned into a smirk
A brief history of portfolio protection
VolX contracts on the Euro move 32% in the first month

In the Volatility Viewpoint segment, Don and Mark discuss the new volatility products being rolled out on specific names, and how or if they are useful to retail investors.

Volatility Views Sneak Preview

Welcome to Volatility Views, the latest addition to The Options Insider Radio Network. Volatility Views is brought to you in collaboration with VolX - The Volatility Exchange.

In this preview episode, Mark introduces the audience to Don Schlesinger, Chief Strategy Officer & Vice Chairman for VolX. Learn about Don's diverse history from school teacher, to Morgan Stanley, to blackjack aficionado. Listeners will also get a bit of history on the Exchange, plans for the future, and an idea of what to expect from the new show.

To leave questions for Mark and Don, you can log onto The Options Insider website, and go to the forum area, or you can call 312.544.9356.

Also, you can reach the VolX group at info@volx.us, or by calling 888-VOLX-CORP, or 888.865.9267 You can also check out VolX at www.volx.us.