The markets are seeing red, and the "Flowmaster" Henry Schwartz is back to take the blame for another Thursday sell-off! Join Mark Longo, Uncle Mike Tosaw, and Henry Schwartz as they dissect a volatile session where the S&P 500 is testing key levels and the VIX is flirting with a 25 handle.

In this episode, the panel explores the unusual correlation of "risk-off" sentiment—where even gold and silver are being dumped alongside equities—and whether crypto is actually acting as the new flight-to-safety asset.

• The Trading Block: A deep dive into the VIX spike, the S&P's magnet-like attraction to the 6845 level, and a breakdown of February's record-breaking trading volume (1.32 billion contracts!).

• Sector Analysis: Why industrials (XLI) are leading the decline while energy (XLE) remains a lone green shoot.

• The Odd Block: Unusual activity in StubHub (STUB) following a post-earnings puke, a predictable "jelly roll" in Hertz (HTZ), and a curious call buyer in Warner Music Group (WMG).

• Crypto vs. Metals: Analyzing the surprising resilience of Bitcoin earlier in the week versus the traditional flight to quality in gold.

• Mail Block: The panel reviews listener sentiment on cheap VIX puts and how long the current geopolitical conflict will impact market volatility.

Despite a weekend filled with geopolitical turmoil and the outbreak of open war in the Middle East, the markets opened Monday with a surprising amount of resilience. Join Mark Longo, "Uncle" Mike Tosaw, and Andrew "The Rock Lobster" Giovinazzi as they break down the "weekend risk" playbook and why the "fade the vol spike" strategy is winning the day.

In this episode, the panel discusses:

• The Trading Block: A look at the S&P, NASDAQ, and VIX. Why did the market go from red to green so quickly? Plus, a deep dive into the massive call activity in VIX and SPY.

• The Odd Block: Unusual activity in Nokia (NOK) and the "luxury pawn shop" The RealReal (REAL). Is someone betting on a major tech resurgence?

• Strategy Block: Uncle Mike breaks down the nuances of Delta weighting with Covered Calls. Learn how to capture premium without capping all your upside.

• Around the Block: Predictions for the week ahead, including earnings to watch: Best Buy, Target, Costco, and the volatile ASKS Space Mobile.

Plus: A special "80s Trivia Challenge" featuring a heated debate over the greatest tag team of all time and breaking WWE Hall of Fame news!

Skeletor is lurking, the metals are screaming, and the earnings gauntlet has begun!

In episode 1439 of The Option Block, Mark Longo and the All-Star panel—including "Uncle" Mike Tosaw and Andrew "The Rock Lobster" Giovinazzi—take a trip back to the 1980s. With the massive trailer launch for the new Masters of the Universe film, the team kicks things off with some MOTU trivia before breaking down a market that is getting "weird, wild, and funk-delicious."

• The Trading Block: A look at the "insane" run in Gold ($5k/oz!) and Silver ($100+/oz). Is it a meme, or is inflation finally catching up? Plus, a preview of the "Big Tech" earnings week featuring Meta, Apple, Microsoft, and Tesla.

• The Odd Block: Unusual activity in Papa John's (PZZA) puts, a massive upside play in Aero Copper Corp (ERO), and the "Trump Bump" fade in newcomer USA Rare Earth (USAR).

• The Strategy Block: Uncle Mike discusses the vital importance of choosing the right benchmarks (BXY, CLL, AGG) to measure your options performance accurately.

• Around the Block: The team debates whether the "Zero Day" index options will cannibalize the market and what to expect from the looming Apple and Tesla earnings prints.

• Indices: SPY, IWM, VIX (hovering at 16), VVIX (100)

• Equities: NVDA, TSLA, AAPL, INTC, MSFT, MAT, USAR

• Metals: GLD, SLV (up 12% in a single day)

We're back with another episode of The Option Block. On this episode, we:

• Discuss the latest in the markets including VIX, PTLO
• Talk about the most active equity options for the day including NVDA
• Examine the latest unusual options activity in IVZ, MPLX, BMBL
• Look at selling puts when the market is down
• Ask if DeepSeek is the canary in the coalmine for the end of the AI boom
• And much more

With your hosts:

• Mark Longo, The Options Insider Media Group
• "Uncle" Mike Tosaw, St. Charles Wealth Management
• Andrew "The Rock Lobster" Giovinazzi, The Option Pit

Trading Block: Oprah buys 10% of Weight Watchers, stock soars. Also, earnings!

• Walmart (WMT) stock plunged 10% last week on sharply lower guidance from the company.
• Analysts expect Amazon (AMZN) to report a 21% jump in revenue compared with the year-ago period.
• Yahoo (YHOO) is also expected to notch a 15% jump in revenue. Analysts are betting on Microsoft (MSFT) and IBM (IBM) to maintain reasonably healthy profits amid falling revenue, while American Airlines (AAL) is likely to see a big jump in earnings on plummeting fuel prices.

Odd Block: Calls trade in Santander Consumer USA (SC), calls trade in Sirius XM Holdings (SIRI), and uts trade in Weight Watchers Intl. (WTW).

Strategy Block: Tosaw discusses his most recent trading activities and why he has been staying away from bonds.

Mail Block: Listener questions and comments

• Question from ONV - Do you focus on all stock options that trade at large multiples, or is there some other way that you determine which names to analyze?

Around the Block: Google stands out amid low earnings expectations.

Trading Block: VIX - The Chicago Board Options Exchange Volatility Index fell 4.6 percent Thursday to 17.21, after back-to-back gains for the first time since Sept. 28. VIX is down 30 percent this month, on track for the most since July.

Earnings:  The third-quarter earnings crunch begins this week.

• Mattel (MAT) - $22.26, Oct 22 straddle - Approx. $2 / 9% move.
• Netflix (NFLX) added fewer subscribers in the U.S. in the September quarter than it had anticipated.
• Amazon (AMZN) is up 1.6% at $553.29, as traders celebrate lackluster subscriber statistics for programming rival Netflix, Inc.
• Odd Block: Calls trade in Micron Technology Inc. (MU), calls trade in Solarwinds Inc. (SWI), and puts trade in Market Vectors Russia ETF (RSX).

Listener Mail: Listener questions and comments

• Question from Angelo M - I have been listening to the Options Playbook Radio episodes on iron butterflies and skip strike butterflies. I wondered what you guys on the All-Star Panel thought about maybe combining those concepts with a ratio iron butterfly that sells an extra put on the downside leg. My thought process is to do this in stocks where I expect a big move but I also do not mind buying the underlying at the level of the lower leg? It would also help reduce the outlay of the trade and make it easier to break even. Thoughts? Great show and great discussions.
• Question from Futures MD - Does theta increase or change intraday - perhaps around lunch?

Around the Block: Earnings on Friday, October 16 include GE, Honeywell International and WW Grainger.

Trading Block: S&P over 2000. Is Tosaw a bull again? VIX weekly options launch today - after a long wait they are finally here! BlackRock proposes remedy for extreme volatility. Insider trading spreads outside of stocks - New York attorney general Eric T. Schneiderman has launched an inquiry into DraftKings and FanDuel

Odd Block: Strange and unusual activity in P, UUP, and AMX.

Listener Mail: Listeners take over

• Question from Dave - Would you say the options market leads the underlying from a price perspective?
• Question from NKX - How do entries work on options strategies? Is entry random? Should we care when we are filled? Should we adjust often? How often should we adjust on a strategy like an iron condor?

Around the Block: Earnings season kicks off with Alcoa

Trading Block: The streak is broken - VIX Cash finally breaks 20! "More execs should have gone to jail after financial crisis" Bernanke says. Stocks jump as expectations ease of U.S. rate hike; oil gains. The London Metal Exchange (LME) introduces measures to grow options trading on exchange.

Odd Block: Puts trade in Materials Select Sector SPDR (XLB), calls trade in Conoco Phillips (COP), and calls and puts trade in Valeant Pharmaceuticals Intl. (VRX)

Strategy Block: Tosaw discusses dealing with covered calls that are going against you.

Around the Block: Alcoa, PepsiCo kick off Q3 earnings season.

Trading Block: A mild selloff at the end of another volatile session: S&P High - 1927, Low - 1900. The S&P 500 slumped 2.6% in September, and posted its first back-to-back quarterly decline in four years. VIX Cash 23.42. US stocks advance, shaving worst quarterly rout in four years. Short sellers cash in Apple bets as stock declines. Metals are getting massacred.

Odd Block: Calls trade in SPDR S&P Metal and Mining (XME), calls trade in EV Energy Partners, LP (EVEP), and puts trade in Apache Corp (APA).

Listener Mail: Listener questions and comments

• Question from TennisGr8 - Last week you mentioned being a market maker made you quick on your feet. This would be similar to a doctor in the emergency room. Does a retail trader need to be that fast and, if so, where can they learn to be that fast?
• Question from Pat - Can you discuss the pros and cons of hedging a portfolio with put back spreads in the respective index, done for a credit? Love all the shows. Thanks for all the education. PS Please do not say Rocktober this year.

Around the Block: September jobs report issued by the Labor Department Friday

Trading Block: An aggressive selloff on the street today. Profits from Chinese industrial companies down 8.8%. GLD taketh away recently.

Odd Block: Strange and unusual activity in BBY, KRE, and MU.

Strategy Block: Uncle Mike discusses trading and managing risk as a perpetual bull.

Around the Block: Will the Chinese bloodbath continue?

Option Block 465: The Feckless Fed

Trading Block

Auto-parts suppliers option implied volatility increases on Volkswagen probe.

U.S. stocks decline as investors crave more guidance from the Fed.

Odd Block

Calls and puts trade in DISH network Corp. (DISH)

Calls trade in Horizon Pharma PLC (HZNP)

Puts trade in Merck & Co. (MRK)

Strategy Block

Uncle Mike Tosaw discusses rolling options on vertical and single-leg puts

Listener Mail

Question from Fred - Being a market maker on the floor was a good way to learn options trading. Can you explain how MM worked and why it was the best way to learn options trading?

Around the Block

Nike and BlackBerry highlight another quiet earnings week.

The Option Block 465: The Great Internet Meltdown

Trading Block

• The Skype Gods conspired against the All-Star Panel on this episode. But we're back nonetheless with more options analysis, unusual activity, listener mail and more. 
• Topics covered in the Trading Block today include: the still wonky VIX futures term structure, the endless debate over the FED, 70X returns on Volkswagen puts and much more

ODD Block

• Strangle Selling Palooza!
• Ensco PLC - ESV
• Boardwalk Pipeline Partners -  BWP
• FMC Technologies Inc. - FTI

The Mail Block

• This week the listeners want to know what the All-Star Panel thinks about pin risk.

Around the Block

• Keep your powder dry while this crazy volatility shakes itself out of the market

Trading Block: August US listed options volumes grew 12% compared to July, reaching a new monthly high in 2015. VIX dips below 20.00 for the first time since August 20th after FOMC statement. No hike: Fed keeps benchmark rate near zero. Citing global economic weakness and financial market turmoil, the Federal Reserve agreed Thursday to keep its benchmark interest rate near zero despite the rapidly improving U.S. labor market. Alt-Options launches Bitcoin derivative market.

Odd Block: Strange and unusual activity in PBR, WLL, and QLIK.

Strategy Block: Uncle Mike Tosaw discusses trading the Fed.

Listener Mail: Listener questions and comments.

Comment from Hawkeye - Mark- A few things- Too bad the daily dose of Lobster was too much of a cholesterol bomb for those guys at TOS.  Bummer.  I liked the show. With respect to the OIC study on various options strategies since 2003 - Are you really surprised the highest return was gained by a synthetic short put stupid in what has mostly been a bull market?  (covered strangle => short call + long stock = ITM short put, plus OTM short put). So, YES!  Selling 2 puts brings in more money than selling only 1! Yes, the Lobster and Meatball have taught me enough to figure this out and they should feel good that something has stuck.

Keep the great shows coming- Hawkeye

PS- A while back Uncle Mike answered a question I had about holding.  I sent a thank you back, but I was not sure you ever got it.  Anyways, please tell Uncle Mike THANKS that that was an outstanding answer and it made perfect sense.

Trading Block: Alibaba - Shares of Alibaba Group Holding Ltd. (BABA -4.05%) have tumbled recently amid an array of problems. U.S. stocks decline amid focus on Fed rate decision this week. Traders are preparing for massive Fed-driven volatility. The SPDR S&P 500 (NYSE:SPY) put-call ratio dropped hard to well below its 20 DMA on Friday.

Odd Block: Calls trade in Anheuser Busch Inbev SA (BUD), puts trade in Chesapeake Energy Corp. (CHK), and calls trade in EMC Corp (EMC).

Mail Block: Listener questions and comments

• Question from Mark Brant - I guess if you place the long side first then your margin will be lower for the short side so maybe the long side is hard?
• Question from Joe Joe - What happens when I sell a call? Does that money hit my account right away, or do I have to wait until I close the position?

Around the Block: Fed Meeting this Wednesday and Thursday.

We're back with another episode of The Option Block brought to you by Cboe Global Markets.

On this episode, we:

• Discuss the latest in the markets
• Talk about the most active equity options for the day including MSTR
• Look at earnings volatility in GE, AAL, AA, SOFI, BA, META, MSFT, TSLA
• Examine the latest unusual options activity in VALE, AKAM, MIR
• Share what we are looking at for the end of the week/going into next week
• And much more

With your hosts:

• Mark Longo,  The Options Insider Media Group
• Nishank Modi, Cboe Global Markets
• "Uncle" Mike Tosaw, St. Charles Wealth Management

Check out the Trade of the Day Insights Newsletter from Trade Alert - Request access to admin@trade-alert.com

Trading Block: Federal Reserve may bring new life to fed-funds options pit. Apple plans land with a thud. Apple is pulling out all the stops, but nothing it seems, can get the stock moving or get investors jazzed again.

Odd Block: Calls trade in Whiting Petroleum Corp. (WLL), calls trade in Qualcomm Inc. (QCOM), and calls trade in Rite Aid Inc. (RAD).

Listener Mail: Listener questions and comments

• Question from MB2 - Heard you chat about legging spreads on the show. The strategy guy seemed to not be a fan of legging. Can he expand on that and his reasoning behind it? I have utilized legging many times as a way to improve my execution prices on spreads. I think it is a legitimate trading technique.

Around the Block: Earnings season is coming? 

Trading Block: Panel of ex-Fed officials say no rate hike will come at September meeting

Monthly Volume Breakdown:

• OCC cleared contract volume rose 33% in August.
• Year-to-date average daily cleared contract volume is up 0.15 percent from 2014 with 16,809,864 contracts in 2015.
• Exchange-listed options volume reached 426,328,677 contracts in August, a 33 percent increase from August 2014 volume of 320,155,407 contracts.
• Year-to-date average daily options volume is up 0.21 percent from 2014 with 16,554,221 contracts in 2015.
• Equity options volume in August was 373,616,786 contracts, a 30 percent increase from August 2014.
• Index options volume in August was up 60 percent from August 2014 with 52,711,891 contracts.

Odd Block: Puts trade in Cobalt International Energy Inc. (CIE), calls trade in CIENA Corp. (CIEN), and puts trade in Wisdom Tree India Earnings (EPI)

Listener Mail: Listener questions and comments

• Question from Mousin - Could it be that the huge options portfolios in macro hedge funds are to blame for the big vow in the market on Monday?
• Question from ADM - During activities on Monday, were there any options exchanges that failed?

Around the Block: Non-Farms out tomorrow. 

Trading Block: Dow off about 100 points in choppy trade, tries to stay out of correction. Goldman Sachs thinks this volatility index should be much lower:  The VIX is trading like the U.S. is in a recession. If the options market is right, China stock rescue is doomed.

Odd Block: Calls trade in UltraShort Euro ProShares (EUO), calls trade in Xerox Corp. (XRX), and calls trade in Arch Coal Inc. (ACI).

Strategy Block: Tosaw gives us an update of the things he has been doing, and why he has been doing them.

Around the Block: Earnings highlights of this week:

• Tuesday - Ambarella, Dollar Tree, H&R Block
• Thursday - Ciena, Medtronic

Trading Block: Selloff or rally? The market needs to make up its mind. Whither the VIX: there was a brief flirtation with 50 handle now back into the more “sensible” 20 handle. So, it takes a massive selloff in the marketplace to get VIX over 50. AAPL had a 20 handle range this week. We missed the deal of the century on the AAPL Sep 75 puts.

Odd Block: Calls trade in BTU, calls trade in P, and puts trade in LL

Mail Block: Listener questions and comments.

• Question from Leon187: Is it true that Apple sells puts to buy back their own stock? Do you feel that large volume of Sep 75 puts was a part of that program?
• Question from tennisgr8t: Can you give examples of managing positions using Greeks and is it a good strategy? Your show is awesome.

Around the Block: Earnings on Friday include Deere and Company, Foot Locker, Inc.

Trading Block: The DJIA briefly slumped more than 1,000 points, its biggest point-drop ever. VIX Cash hit 53.29 at 10am. The VIX jumped as much as 90 percent to 53.29, its highest since January 2009. VIX didn’t update for 30 minutes as options quotes got erratic. AAPL hit a low of $92 before rebounding.

Around the Block: Retail earnings season winds down this week

Trading Block: 6.5 month low. Breaking through big technical levels in the S&P. Huge move in VIX. A rundown of soft and hard losers. When Wal-Mart becomes a flight-to-safety. Everything is NOT awesome.

Odd Block: Strange and unusual activity in MSFT, PNK, and POT.

Mail Block: Listener questions and comments in response to Monday’s show.

• Comment 1 from @MarkBrant1KM: One thing I learned from Dr. J. that you guys don't discuss much is how return on margin is paramount to retail traders!
• Comment 2 from ‏@MarkBrant1KM: Main focus should be maximizing return on margin when trading options!

Mystery Block: Mark Sebastian discusses risk and reward.

Around the Block: Not going to hit all-time highs this week. What will the Fed do?

Trading Block: Stocks to watch include: Tesla, Zulilly, Pentair, and Estee Lauder. Gold trading outlook: Futures extend gains on US rates speculations. U.S. stocks rise as investors turn focus on economic strength.

Odd Block: Call spreads go up in Williams Companies Inc. (WMB), giant call roll in Hartford Financial Services Group, Inc. (HIG), and calls trade in Xilinx Inc. (XLNX).

Strategy Block: Tosaw discusses when to roll and when not to roll.

Mystery Block: Sebastian discusses his thoughts on trading and how it relates to putt-putt golf.

Around the Block: Be cautious. Fed minutes might be interesting.

Trading Block: Bearish options bets on Apple are spiraling higher. Stocks to Watch: Tesla Motors Inc. (TSLA) +2.26%), American Apparel Inc. (APP), Lenovo Group Ltd. (HKG). OCC and U.S. Securities Market Coalition ask U.S. Department of Labor to allow use of listed options in retirement accounts.

Odd Block: Calls trade in SYSCO Corp (SYS), puts trade in SPDR Barclays Capital High Yield (JNK), and puts trade in Technology SPDR (XLK).

Mail Block: Listener questions and comments

• Question from Mark Brant - Is insurance against assignment legal? Why not pay a fee for the broker to absorb assignment risk if your strategy prefers it?

Around the Block: Shake Shack, Inc. (SHAK) will be listed Aug 14.

Trading Block: Our special guest today is Vlad Karpel, Founder of Tradespoon. Dow jumps triple digits; oil recovery boosts energy 2%. How should investors play falling Apple stock? Earnings today after the bell: Rackspace Hosting, Inc., Shake Shack, Inc., Take Two Interactive - TTWO $31.38, Straddle - $3.10 - Approx. 10%. BATS gets regulatory nod for second U.S. options exchange.

Odd Block: Calls and puts trade in Ensco PLC (ESV), calls trade in Oasis Petroleum Inc. (OAS), and calls roll in SYSCO Corp. (SYY)

Strategy Block: Tosaw analyzes SPX and SPY

Around the Block: Earnings!

• Tuesday - Fogo de Chao, Inc., Red Robin Gourmet Burgers, Tribune Publishing Company
• Wednesday - Cisco, Macy’s, Aramark, Roundy’s, Inc., BABA and CSCO
• Thursday - Applied Materials, Inc., Kohl’s, King Digital Entertainment, El Pollo Loco Holdings, Inc., Nordstrom Inc., Tribune Media Company,
• Friday - J.C. Penney

Trading Block: Stocks getting crushed post-earnings.

• Disney - stock closed @ $121 prior to earnings on 8/4. ATM straddle $4.10 or 3.4%. Stock off over 10% in the past two days - off 2% today.
• Tesla - stock $270 prior to earnings. ATM straddle $22.25 or 8.2%. Down 28 handles, over 10% today.
• A massive sell-off is underway in media stocks, and Viacom is by far the biggest loser.

Odd Block: Calls trade in Allscripts Healthcare Solutions (MDRX), puts trade in Noble Corp. (NE), and calls trade in SPDR S7P Oil and Gas (XOP)

Mail Block: Listener questions and comments

• Question from RJR357 - On the CBOE blog you see comments such as Bulls are piling into XZY or calls outnumber puts 6 to 1. Is it prudent to follow the herd? Is this info of any value? I'm guessing this is the big money traders. Great show.
• Question from Charles Vela - My friend recommended Dough as an options starter platform. It seems a little silly to me. How do you like it?

Around the Block: Earnings: FitBit (FIT)

We're back with another episode of The Option Block brought to you by Cboe Global Markets.

On this episode, we:

• Discuss the latest in the markets including TK, AAPL
• Talk about the most active equity options for the day including BAC, SOFI, AAPL 
• Look at earnings volatility in BAC, JPM, C
• Examine the latest unusual options activity in TK, RGTI, GME
• Share what we are looking at for the end of the week/going into next week
• And much more

With your hosts:

• Mark Longo,  The Options Insider Media Group
• Henry "The Flowmaster" Schwartz, Cboe Global Markets
• "Uncle" Mike Tosaw, St. Charles Wealth Management
• Dan "The Black Hatted" Passarelli, Market Taker Mentoring

Check out the Trade of the Day Insights Newsletter from Trade Alert - Request access to admin@trade-alert.com

Trading Block: Thanks to everyone that came out last week to our live show! We had a wonderful seeing all of our listeners in person.

• Earnings today after the bell: Brookdale Senior Living, Avis Budget Group, Allstate Corp, General Growth Properties.
• Media & retail highlight earnings this week: CVS, Office Depot Inc., Walt Disney Co.
• Highlights of this week: Wednesday: Tesla, Time Warner, and Twenty-First Century Fox; Thursday: Allergan       

Odd Block: Calls trade in Williams Companies Inc. (WMB), calls trade in NorthStar Asset Management (NSAM), and calls and puts trade in Merck & Co., Inc. (MRK)

Strategy Block: Tosaw discusses the importance of patience, especially when trading.

Mail Block: Listener questions and comments

• Question from Beacher454 - Last week Mark S. said the free options training is ok, but you need paid training to really make money. Can you give an example how paid training is better?

Around the Block: Upcoming earnings: Disney, Tesla, Office Depot. Plus, macroeconomics. Options on VIX weekly futures. Will they? Won’t they? 

Trading Block: Still in the thick of earnings season. LNKD straddle going out at over $25. Talking FB, VIX. Trading the Sebastian bottom. The introduction of VIX weekly futures. Whole Foods prices weigh on earnings. Who’s afraid of insider trading? Chinese equity vol. Will Gold fall to $350/ounce? SO MANY new CBOE indexes. SO MANY.

Odd Block: Ratio/vertical calls roll in MDLZ.  Ratio buy-write in NOW. Taking the short off in NOK.

The Mail Block: Listener questions and comments.

• What happened to Options Oddities?
• What is the worst beginner options trade?
• Beware of paying through the offer

Around the Block: Still some earnings coming: XOM, CBOE, CVX. Introducing the inverse mullet: the tellum. Greece. Jobs report next week.

Trading Block: China meltdown. Chinese equities have suffered the sharpest one-day crash in eight years. Earnings: Bidu, Facebook, Twitter, Exxon Mobil. Will option traders ‘pin’ gold to $1,100/oz?

Odd Block: Call buyers in EXCO Resources Inc. (XCO), calls trade in Knowles Corp (KN), and calls trade in Pfizer Inc. (PFE)

Strategy Block: What is going on in the S&P 500?

Mail Block: Listener questions and comments.

• Question from Jose - Avengers, JPW, Minions, so many big summer movies. What is a good way to play big movie releases with options? I have got about 10k in my trade account to use for fun spec stuff like this. Ideas?
• Question from Brian Collamer - Hi. Last week Uncle Mike was talking about a customer who had a call calendar on in Netflix. The customer got assigned on the short call. Does that mean the strikes went in the money? If so, would not you exercise the back month long call to cover the assignment? Thanks for the great content you folks make available!

Around the Block: Earnings!

Trading Block: Earnings!

• MSFT: $47.28 on earnings. Straddle: $2.40 / 5%. Opens down approx. $2. Microsoft lost 3.7 percent after posting its largest-ever quarterly loss.
• AAPL: Closed near $131 on earnings. Straddle: $6.15 / approx. 4.7%. Opened $122 - down $8.75. Apple fell 4.2 percent after iPhone sales and revenue forecast missed estimates.
• Nasdaq retreats amid tech selloff after Apple, Microsoft results
• Odd Block: Calls trade in Chevron Corp. (CVX), calls trade in Direxion Daily Financial Bear 3X ETF (FAZ), and calls and puts trade in Patterson-UTI Energy, Inc (PTEN)

Mail Block: Listener questions and comments

• Question from Sam A, Houston, TX - Is it a good idea to sell credit spreads in leveraged ETFs to benefit from the con tango?
• Question from 999 - How do you spec on the market falling out of bed using options?

Around the Block: Earnings: Apple earnings not the only huge story this week. Watch GM, Boeing, Coke, Amazon, Microsoft & others. Friday: Johnson Controls, Xerox

Trading Block: In which we feature special guest co-host: Fred Ruffy from Trade Alert

Earnings Today: Before the Bell: Morgan Stanley, Haliburton, Hasbro; After the Bell: IBM. Tech names blowing through their straddles: NFLX: 8%, GOOG: 3.5%. Stocks slightly higher as NASDAQ hits new record.

Odd Block: Puts trade in Ford Motor Company (F), puts trade in Windstream Holdings Inc. (WIN), and calls trade in ONEOK, Inc. (OKE).

Mail Block: Listener questions and comments:

• Question from Adam Sam - ‏How come no one saw GOOG jump coming. Do you ever share where you get your info from? I would love to know. Thanks.
• Question from big George: Hola options amigos. Fun program. Just found it on Stitcher and now it’s on the top of my business playlist. You guys make options fun. I would like to know if there’s any way that I can enter after hours orders for options. I can access afterhours books for my stocks but I don’t see that choice for options. Do I need to use a special broker or platform? This would really help me with my earnings season trading. Thanks, George.

Around the Block: What to watch for in Apple earnings. Also watching GM, Boeing, Coke, Amazon, Microsoft & others.

Trading Block: GOOG after the bell. ATM Straddle: Approx. $21 - a 3.5% move. Last earnings: 19 handle move from close to open, approx. 3.5%. Volume: Approx. 3x ADV. Calls nearly 3 to 1 over puts. Bank of England urges longer jail terms for market manipulators. On July 16th, 2004 - Martha Stewart was sentenced for insider trading, conspiracy, and obstruction of justice in the ImClone trading scandal.

Odd Block: Calls trade in C&J Energy Services Ltd (CJES), calls trade in Regions Financial Corp (RF), and calls roll in US Bancorp (USB)

Mail Block: Listener questions and comments

• Comment from Anonymous - I listened to your talk on Options Insider Radio. (That is a very good program!) It seems that there are a lot of misunderstandings about the cracking down on short sales in China.

In fact, there is no limit on short short sales in China as long as you can borrow shares. Very similar to the US shorting stocks. But the main problem in China is the leverages with loans from outside financial companies.

A subsidiary of BABA is enabler of such outsider loans. That subsidiary company in Hangzhou (where I am from) has software called HOMS, which expand the single brokerage account into a multiple user account with or without brokerage firms knowledge. The original intended users are fund management firms. But the loan companies use the software to provide loans and control the account for margin risk management. They provide margin loans up to 1:10 ratio.

When the market initially dropped 15~20%, many accounts will have margin problem. Later on, the loan companies started manipulation operation: They purposely push down the index futures at certain hours, trigger the market sales, and then they forcefully close customer accounts.

Finally the Chinese police department stepped in. That really scared those loan operators.

Overall, I think it is great idea to forceful interrupt the vicious feedback loop, and return the market to more normal operations.

In China, the communist part[y] has to take responsibilities for the wellbeing of the general population, instead of "following the rules" to allow or protect a few successful guys who figured out how to take advantage of the system shortcomings.

So I think it is a good. In the US, no one was charged and put into jail for 2008 crisis. Here, we think that following rules is more important than the results. But the rules have been set up the guys who purposely keep holes they can exploit.

In this case, I totally support the Chinese government. It demonstrates that Chinese government can correct the problem much more effectively and efficiently.

For a society, it is better to protect 1,000,000 people from losing $1,000 each than to allow a guy to make $1B through "successful" trading.

• Question from SB94 - What’s up with Chinese stock options? Are options going to be listed in China anytime soon?
• Question from Sean - I like to follow an indicator that determines the strength of a trend going in a certain direction. How do these typically reflect in the options market?

Around the Block: Earnings! Citigroup, Google, eBay, UnitedHealth Group, America Movil, Blackstone, Goldman Sachs, Philip Morris International, Schlumberger, Advanced Micro Devices, Mattel, General Electric, Honeywell

Trading Block: July and the VIX weigh heavily on the S&P. U.S. stocks rise after Greece reaches an agreement with creditors. Netflix hits new high price in advance of stock split, earnings. Fitbit shares are in uncharted territory as analysts initiate coverage.

Odd Block: Puts trade in IAMGOLD Corp. (IAG), calls trade in Marathon Petroleum Corp. (MPC), calls trade in Market Vectors Oil Services (OIH).

Strategy Block: Tosaw discusses synthetics and his most recent trading strategies.

Mail Block: Listener questions and comments

• Question from Fred - I heard options traders like to have multiple positions in their trading accounts. How many should I have?

Around the Block: Earnings: Google, Netflix and big banks highlight earnings expectations this week.

• Tuesday - JPMorgan, Wells Fargo, Johnson & Johnson, Yum! Brands.
• Wednesday - Intel, Netflix, Bank of America, Delta Airlines, US BankCorp, BlackRock, Kinder Morgan, PNC Financial Services.
• Thursday - Citigroup, Google, eBay, UnitedHealth Group, America Movil, Blackstone, Goldman Sachs, Philip Morris International, Schlumberger, Advanced Micro Devices, Mattel.
• Friday - General Electric, Honeywell

Trading Block: What glitch? Competition eases NYSE shut-down. Fed increase are little more than a coin flip for derivative traders. Apple stock chart points to more downside ahead. Earnings today: Before the bell: PepsiCo, Walgreens

Odd Block: Calls trade in CBS Inc. (CBS), calls trade WisdomTree EuropeHedged ETF (HEDJ), and calls trade in JCPenney Co. (JCP).

Mail Block: Listener questions and comments

• Question from N198UA - I'm a big fan of all your radio shows - especially Options Oddities. I've always had an interest in unusual activity and even attended your forum in Chicago a couple of years ago. My question: if a retail trader makes an options trade based on unusual activity that is later deemed "insider" (or something not legal); could the retail trader - and anyone who copied the "insider" trade be in trouble? What are the possible outcomes?        

• Question from 999 - Brokers typically charge more to short stocks that are hard to borrow. What are examples of the extra fees or commissions that you pay when you trade options in hard to borrow stocks?
• Question from Jose Aprile - Any quirks with interest rates options that show the Fed might act soon?

Around the Block: Greece is the word.

Trading Block: CBOE and C2 Options Exchange total trading volume up 16% in June. Surge in Europe stock options volume shows race to hedge Greece. A few dozen Chicago traders will don their multicolored jackets to trade soybean and forex futures the old-fashioned way one last time on Monday, marking the end of 167 years of open-outcry trading in the city where it was born. Oil at 3-months low as outlook darkens again.

Odd Block: Rolling calls in Office Depot (ODP), calls trade in Hilton Worldwide Holdings Inc. (HLT), puts trade in Chevron Corp. (CVX), and calls trade in Blackstone Group LP (BX).

Strategy Block: Tosaw discusses how he prepared for the holiday weekend.

Mail Block: Listener questions and comments

• Question from Fred - Been having problems finding an options paper trading account that does not require me to fund an account. Any suggestions?

Around the Block: Earnings - New earnings season kicks off with Alcoa, PepsiCo, and Walgreens.

Today we have Special Guest Star Henry Schwartz from Trade Alert

Trading Block: Jobs data disappoints. OCC cleared contract volume grew 4% in June. Tesla Motors Inc. (TSLA) shares gain momentum after record quarterly deliveries.

Odd Block: Calls trade in Targa Resources Partners LP (NGLS), calls trade in Market Vectors Gold Miners (GDX), and puts trade in ARM Holdings plc (ARMH)

Mail Block: Listener questions and comments:

• Question from Steamboat Willie - What would you say is the best buy and hold strategy using options? I am interested in using some options in my retirement account but I do not have the time to manage them on a daily basis. I would like to put something on and only check on it every few weeks or months. I am mostly interested in large cap stocks, although I am not averse to dipping my toes into alternative assets such as oil.
• Question from LeanMean: Is it possible for retail to capture dividends using options? Do you have any good dividend capture strats for me?

Around the Block: Will the U.S. be a safe haven? August earnings fireworks? Will U.S. bonds rally?

We're back with another episode of The Option Block. On this episode, we:

• Discuss the latest in the markets including VIX
• Talk about the most active equity options for the day including DJT, AAPL
• Examine the latest unusual options activity in PTON
• Hedging strategies
• And much more

With your hosts:

• Mark Longo, The Options Insider Media Group
• "Uncle" Mike Tosaw, St. Charles Wealth Management
• Andrew "The Rock Lobster" Giovinazzi, The Option Pit

Trading Block: Dow falls 225 points, in the red for the year amid Greece; VIX spikes 24%. Biggest one-day loss since 2011 for European stocks as Greek crisis deepens. FitBit options listed on 6/26: 1st day volume = 4,600 contracts. 2,500 on Friday, 2,500 so far today. Oil falls to three-week low amid risk of Greek exit from Euro.

Odd Block: Calls trade in US Silica Holdings (SLCA), calls trade in Yandex NV (YNDX), and puts trade in NorthStar Realty Finance Corp (NRF).

Strategy Block: Uncle Mike Tosaw discusses his trading, or lack thereof, on this particular day.

Mail Block: Listener questions and comments

• Question from Malki k. - I was surprised to see that FIT options are trading already, listed a little quicker than I thought. I like the stock but not at these levels, so I am looking at some downside strats. One that caught my eye was Aug 30-26 1x2 put spread - looks like I can buy the spread for somewhere around $.60 - $.90 depending on current prices. What is your opinion of that strategy? Not married to that time frame so I could also go longer term to November for $.10 - $.70. Seems like Nov puts are a little bit pricier. Before you say it, I know that this strategy can potentially get me long the stock from $26, but I am more comfortable with that price level than $33.50. And I would have all of the profits from my spread to reduce the effective purchase price of the stock to the low-20s range.
• Question from Andrew J. - FIT Nov 25/40 bullish risk reversal for even money - thoughts?

Around the Block: Earnings! Tuesday - ConAgra Foods Inc. Wednesday - Constellation Brands, Inc., General Mills, Paychex, Inc.

Trading Block: A Greek deal drives the rally ho! Dow briefly adds 150 points, NASDAQ sets intraday high on Greece hopes. Crude and gold both drop - gold off 1.5%. Hilton: Why are so many traders betting on this hotel giant? Amberella getting crushed.

Odd Block: Puts trade in Ford Motor Company (F), calls trade in Owens Corning (OC), and calls trade in Green Plains Inc. (GPRE).

Strategy Block: Uncle Mike discusses selling calls to hedge, post rally.

Mail Block: Listener questions and comments

• Question from Kevin Duggan: to info Hi Mark, I love your shows! Question - What happens to my options if the underlying gets halted permanently? Would I ever be able to close them? I am remembering Sino Forest from a few years ago in Canada- stock got halted pending a fraud investigation and never came back. I am worried that I will not be able to cash in on my BABA Puts! Thanks, Kevin

Around the Block: Are there still earnings left? Evidently, with Blackberry reporting later. Will there be new all-time highs? Greece default date: 6/30.

Trading Block: Rally ho on the street.

• Fitbit IPO prices at $20 a share, above expectations. Fitbit Inc., the maker of wearable fitness-tracking devices, priced its initial public offering above its estimated range at $20 a share, raising $732 million. That makes it the biggest tech IPO this year and gives it a market cap of roughly $4 billion.
• Apple Bands - Apple (AAPL) shares are in focus in early trading. The tech giant is reportedly amassing major profits from its Apple Watch band. Reuters reports that nearly 22% percent of Apple Watch buyers purchase one or more spare bands. Apple has sold approximately 2.8 million watches since of mid-June, according to an estimate from research firm Slice Intelligence.
• Oracle tumbles - shares are tanking in early trading. Shares of Oracle tanked 7.6% in premarket action after the software company late Wednesday reported a drop in fourth-quarter earnings.

Odd Block: Calls trade in Williams Companies Inc. (WMB), calls trade in Toll Brothers Inc. (TOL), and puts trade in iShares MSCI EAFE Index Fund (EFA)

Mail Block: Listener questions and comments:

• Question from TennisGr8t - Longos Odd Block show. If technical analysis is not good for options how then do you get trade ideas? Are any of the newsletters that get hawked daily any good? I am leaning NO. Great show gents.
• Question from Anthony Sontakis - Hi, this message pertains to futures options. I currently trade futures options on Tradestation Futures+ platform. I was hoping someone might be able to recommend a Futures Options trading platform for a solo trader like myself. I need the ability to enter advanced orders like OCO and OSO based on the underlying price, and I need the ability for profit/loss graphs, neither of which features Tradestation platform supports right now. The only platform I have found that supports what I need is OptionsCity, but the pricing is for institutions ($2500/month) - that is cost prohibitive for me. Are there any good but affordable platforms out there to trade Futures Options for a little guy like me? Thanks, Anthony

Around the Block: Oracle, Rite-Aid earnings. Continuing to punt on the Fed. NASDAQ closes at record high. Another summit on the Greece bailout.

Trading Block: Trade bodies urge regulators to sort out derivatives reporting. Stocks to watch: CVS, Lumber Liquidators, Actavis. CBOE extends VIX and SPX options trading hours as global growth in VIX continues to build.

Odd Block: Puts trade in SPDR S&P Homebuilders ETF (XHB), calls trade in iShares MSCI Germany Index (EWG), and calls roll in TASER International, Inc. (TASR).

Strategy Block: Tosaw discusses hedging bond portfolios.

Option Pit Mystery Block: Sebastian discusses crisis management.

Around the Block: Earnings: Oracle, Rite Aid & FedEx Highlight Quiet Earnings Week.

Trading Block: Apples big meeting is a loser for investors - the Apple (AAPL) faithful are breathlessly awaiting the company's latest announcements at its confab starting Monday. But investors know better – it's a bust. VXX - closed the day at $18 (a change of -2.33%) at a relative volume of 0.95. Lululemon founder, Chip Wilson, files to sell his stake in the company.

Odd Block: Calls trade in iShares FTSE/Xinhua China (FXI), puts trade in iShares MSCI Germany Index (EWG), and big call buy in DISH Network Group (DISH)

Mail Block: Listener questions and comments

• Question from RJR 357: Are the Options Bootcamps worth it?
• Question from Mr. Fed: Can you explain how to use gamma around earnings.
• Question from Roger Lee: were the calls sold or bought for Tyco? There are about 14K calls that are expiring in July as well. I'm not sure if it was a buy or sell as well.

Around the Block: Earnings: Sears, Lululemon.

Trading Block: Down day on the market: weekend coming in; selloff. TSLA up $7, but why? What is going on with Greece? If they can get out of their debt, why not the rest of the EU? Theta vs. delta. Could AAPL go over the trillion dollar market cap level? AVP rumor redux: making up stories to manipulate the market & SEC.

Odd Block: Puts trade in TUR, puts trade in AU, and calls trade in CCL.

Strategy Block: Ratio spreads on bonds.

Around the Block: Shaking fists at Greece. Vol blip. LULU earnings leak?

Trading Block: A pronounced selloff across the market today. The IMF calls out the Fed - says rates should be not raised until 2016. Goldman is long puts in USO and XLE - saying volatility is just too low.

Odd Block: Puts trade in Ocwen Financial Group (OCN), puts trade in Intel Corp. (INTC), and Aug calls trade in Cisco Systems, Inc. (CSCO)

Mail Block: Listener questions and comments

• Question from Value Investrader: Question for you regarding unusual options activity, when Vol & OI increase, how do we know whether they were bought vs sold?
• Question from Tom_Inc: What is a good intraday options trading strategy for SPY?
• Question from Sin City: Why do you not use hashtags for each of the show to sort out the questions? For example: #OptionBlock, #VolatilityViews, etc.

Around the Block: Greek deadline coming up. Non-farm payrolls. Fed Watch: June.

Trading Block: Embrace options in the TWTR stock fire sale. Intel to buy Altera in nearly $17B cash deal. Euronext to launch volatility contracts.

Odd Block: Calls and puts trade in CSX Corp (CSX), puts trade in IAMGOLD Corp (IAG), and calls trade in EV Energy Partners LP (EVEP)

Strategy Block: Anything you can do with stock, I can do with options.

Around the Block: June kicks off the close of earnings season.

Trading Block: Wall Street is using the power of Dodd-Frank against itself. Shake Shacks (SHAK) unhedgeable risk. Chipotle (CMG) stock rallying following higher analyst rating. Google (GOOGL) tech deals on pace to surpass 1999.

Odd Block: Calls trade in CONSOL Energy Inc. (CNX), calls trade in McDonalds Corp (MCD), and puts trade in iPath S&P 500 VIX Short Term ETN (VXX).

Mail Block: 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?
• Question from Calls vs Puts - Why is there not just one product that you can sell and buy to express your bullish or bearish outlook instead of two - calls and puts? Is that not a bit of overkill?
• Question from Georges Sinclair - Why are iron condors so popular? Seems like many other strategies can offer similar performance. Why has that one strategy become so dominant?

Around the Block: Early summer doldrums? Any action in anything anytime soon?

Option Block 434: Buy SPY Calls and Go Away

Trading Block: Buying SPY for the summer. The absence of fear - How low can the VIX go? Stocks rise to near records; oil jumps above $60. Someone made a quick buck trading cable mergers - Cablevision soared 18 percent on Wednesday

Odd Block: Calls trade in Sphere 3D corp. (ANY), calls trade in TYCO Intl PLC (TYC), and calls trade in Advance Auto Parts, Inc. (AAP)

Mail Block: Listener questions and comments

• Question from David S. - I think Apple is writing/buying options. Check my blog post for an option oddity: - http://bravo0123.tumblr.com. Why would they do this? I do not know, it’s only 6 million shares for Apple. Can I profit off this guess? Not sure.

Around the Block: Earnings: Big-box retailers step into the spotlight for earnings this week - i.e. Best Buy.

We're back with another episode of The Option Block. On this episode, we:

• Crown our 80's trivia winner for 2024
• Discuss the latest in the markets
• Talk about the most active equity options for the day including FUBO
• Look at the options volume for December and all of 2024
• Examine the latest unusual options activity in CPNG, WBD
• And much more

With your hosts:

• Mark Longo, The Options Insider Media Group
• "Uncle" Mike Tosaw, St. Charles Wealth Management
• Andrew "The Rock Lobster" Giovinazzi, The Option Pit

Trading Block: Icahn says "dramatically undervalued" Apple should trade at $240.

AccuShares is set to list a couple of interesting products on Tuesday: AccuShares Spot CBOE VIX Fund Up Shares (VXUP) and AccuShares Spot CBOE VIX Fund Down Shares (VXDN).

Odd Block: Calls and puts trading in CBRE Group Inc. (CBRE), puts trade in DSW Inc. (DSW), and calls trade in Molson Coors Brewing Company (TAP)

Strategy Block: Uncle Mike Tosaw discusses trading in SPY

Around the Block: Earnings: Consensus estimates from Wall Street analysts call for year-on-year earnings growth from big-box retailers Home Depot Inc. and Target Corporation, but for earnings declines from Best Buy Co Inc., Staples, Inc. and Wal-Mart Stores, Inc. when they report this week.

Trading Block: Rally ho on the market today. Is Avon in play? Stock halted after rallying over 20%. ADV 11k contracts - today over 75k! Avon Products Inc. said it never received a takeover bid from PTG Capital Partners Ltd., a firm listed in a securities filing as offering $18.75 a share for the struggling cosmetics company.

Odd Block: Calls trade in Michael Kors Holdings (KORS), calls trade in PowerShares DB Agriculture (DBA), and puts trade in Healthcare SPDR (XLV)

Mail Block: Listener questions and comments

• Question from Dmitry Shesterin ‏- @Options Some equities have more active options than others, why is $BAC so disproportionately more active? Some contracts beat $SPY, $VIX.
• Question from Fred Decker - Mark, I am nearing the end of reading Natenberg - I have even been going back to some basic concepts in the earlier chapters to refresh myself. While I like the book, I do not see much of a trading edge in Natenberg. The market models he uses assume frictionless trades and that volatility is constant. Is Natenberg a good book to get an edge in the market, or do you have another secret book to add to the trader's arsenal?

Around the Block: Earnings: Major retailers highlight this week's earnings outlook.