Volatility Views

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

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

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 opti

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

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