Volatility Views

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 t

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, prov

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 o

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: 14.2

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 F

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 will VIX/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 will VIX/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 f

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

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:

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 k

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?\ Questi

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

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