Volatility Views

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 do

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 Las

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 proprietar

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 challe

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

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 forwar

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 (s

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 sh

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

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 par

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 p

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 wi

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

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

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?

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? Quest