Trading Block: Options market sees 50% chance of massive S&P plunge. Stocks may have rebounded from their recent lows, but the option market still implies a big chance that stocks plummet anew before the year is out. Earnings today after the bell: Fitbit, Inc., ATM Straddle: $2.90 - 18.3%, calls 2/1 over puts; stock nearly hit $52 last summer: Now a pale shadow of what it used to be. Earnings today before the bell: Dean Foods. Odd Block: Puts trade in Zoetis Inc. (ZTS), puts trade in Rio Tinto PLC (RIO), and puts trade in Prospect Captial Corp (PSEC). Strategy Block: Tosaw dicusses ways to construct a wheel trade. Listener Questions: Listener questions and comments Question from Alex - Thanks Mark for the funny intro of me and featuring my question. I felt honored to get my simple question dissected so well. I loved it! You started the discussion with "there are not that many scenarios to short long term puts as a way to enter into equity unless there is some extreme volatility distortion where the 1 year put is extremely bid from a volatility perspective". My follow up question is then: Does the 1 year LNKD Implied Volatility not qualify as a such "extreme volatility scenario distortion". Check attached screenshot from OptionXpress below. The highlighted region is when I shorted the 25 Delta Put and ATM Implied Vol is at its highest ever. Definitely I would suggest a boot camp on commission fees and slippage costs and why even with those it is still better to do shorter term vs longer term dark side trades. Cheers, Alex Putting it concisely: Vega, Theta, low commissions and slippage costs are working for me in this one. Around the Block: Earnings! Tuesday - Home Depot, Avis Budget Group, Caesars Entertainment, Coca Cola, Dreamworks, Macys, Office Depot Wednesday - Target, Salesforce.com Thursday - Best Buy, Sears, Anheuser- Busch, Gap, Gogo Inc., Herbalife, Kohls, Marriott Vacations Worldwide, SeaWorld Entertainment, Starwood Property Trust, Weight Watchers Friday - JC Penney Company, Hilton Worldwide It is fairly a heavy week as far as economic reports go including GDP and Consumer Sentiment. The market looks to keep the bullish rally going. Feb 23: Consumer Confidence, Existing Home Sales Feb 24: New Home Sales Feb 25: Durable Goods, Jobless Claims Feb 26: GDP, Consumer Sentiment

Trading Block: Welcome to our 500th episode. Today's special panel includes: Mark Sebastian, Mike Tosaw, Andrew Giovanazzi, and our must beloved former panelist Alex "The Viceroy" Jacobson. They discuss: How many exchanges are too many exchanges? Options Insider question of the week The SEC Citadel Transaction fees Talking free of compliance issues And so much more... Odd Block: Rolling calls in Coca-Cola Company (KO), calendar spreads trade in Time Warner Cable (TWX), and put sellingHess (HES) Mail Block: Listener questions and comments Question from TennisGr8: I've been hearing a lot lately about gamma scalping. How does it work, and who should use it? Is this second-order greek becoming the new options darling? Around the Block: Are the bulls back in force? Always be prepared for a downturn.

Trading Block: TSLA: Options traders are betting on a 16% move in Tesla shares in either direction through the end of the week. Four of the five most traded Tesla options on Wednesday were put options, but it was not clear whether investors were buying or selling them. It has been a rough year for Elon Musk - off $3.3B between TSLA and SCTY. Earnings today: Before the bell: Nokia, PepsiCo, After the bell: Activision Blizzard, Groupon, Pandora Media Group. Odd Block: Calls trade in SPDR Gold Trust (GLD), calls trade in Yamana Gold Inc., and calls trade in IAMGOLD Corp (IAG) Mail Block: Listener questions and comments No love for daily options - Twitter poll has 40% of respondents saying heck no to dailies!! Comment from KDDiddy - Position Delta is a stupid term you must learn to get an Options license in Canada. Sure, we rule the hockey world, eh? But we are the Jamaican bobsled team of the Options industry. On behalf of all Canadians, I apologize for the term and, for the Montreal Exchange. Perhaps you hosers could suggest some reading on the subject of Delta. After Andrew pulled my jersey over my head and lobster clawed me with "Beta weighted to SPY" and "Extra curvature," I thought I better grab some books 'n start givn'er in the library." Question from Michael - @Options $15 put Twitter drops off the map; yet the premium still has been declining. Can you explain? Question from Alex - Insider Trading, What are your thoughts on Shorting 1Y 25 Delta Puts on LNKD midday today (LNKD is at 105 as I write this message)? Puts are quite juicy right now with quite acceptable break even points. I am very interested in hearing your feedback. Cheers, Big Options Trading Podcast fan, Alex. Around the Block: Reminder: No show on Monday, February 15 due to the market holiday. Next show on Thursday, February 18 is our live 500th episode spectacular!

Trading Block: Stocks take another beating: Dow down 400. Gold tops $1,200 for first time since June on economic woes. Earnings today after the bell: Yelp - $16.17, down nearly $2 - over 10%; Before the bell: Hasbro, Loews Odd Block: Calls trade in Market Vectors Gold Miners ETF (GDX), calls trade in Goldcorp Inc. (GG), calls trade in iShares MSCI EAFE Index fund (EFA), and calls and puts trades in Paypal Holdings Inc. (PYPL) Strategy Block: Tosaw discusses when he is going to get back into this market. Around the Block: Earnings! Tuesday - Walt Disney Company, Coca-Cola Company Wednesday - Time Warner, Cisco Systems, Tesla Thursday- Nokia, PepsiCo, Activision Blizzard, Groupon, Pandora Media Group

Trading Block: Today we have guest co-host Dan Cook from NADEX. LNKD after the bell. ATM straddle: $22, approx. 11.5%. Wall St. fluctuates as equities track oil prices. Is oil driving the stock market - and should traders care? As energy rout deepens, CME, ICE reap benefit from record volumes. Earnings today - Before the bell: ConocoPhillips, Intercontinental Exchange. Odd Block: Calls trade in SPDR S&P Metal and Mining ETF (XME), calls trade in Market Vectors Gold Miners ETF (GDX), and calls and puts trade in BHP Biliton Ltd (BHP). Mail Block: Listener questions and comments Question from KDDiddy - Hey guys, Getting back to the great Stupid debate....I wrote in a few weeks ago regarding the use of a put stupid to hedge a stock 2% below market. You mentioned there is a better way using position delta. I understand position delta and delta neutral but sadly, although I have tried for a couple of weeks, I am too stupid to figure this out! Is there a formula? Would you explain? Regards, Mr. Not So Smart Sent from my iPhone Around the Block: Upcoming activity in non-farms product on NADEX. Earnings on Friday for CME Group Inc.

Trading Block: OCC announced total cleared contract volume for the month of January was up four percent from January 2015 with 371,870,087 contracts, marking the third highest January on record. CBOE announced that it plans to list S&P 500 Index (SPX) Wednesday - expiring Weeklys options beginning February 23, 2016. ISE Mercury to launch on February 16, 2016. Earnings today after the bell: Options on Google parent Alphabet Inc were busy on Monday ahead of the its quarterly results that could help it unseat Apple Inc as the most valuable company in the world. Odd Block: Calls trade in The Kroger Co. (KR), calls and puts trade in Twitter Inc . (TWTR), and calls and puts trade in PVH Corp (PVH) Strategy Block: Tosaw discusses the knockout collar. Mail Block: Listener questions and comments Question from JDon - Congrats on your milestone. Howd you get such a cool handle? Around the Block: Earnings! Tuesday - Chipolte Mexican Grill, Exxon Mobil Corporation, Merck & Company, Sirius, UPS, Yahoo Wednesday - CBOE Holdings, Exelon Corporation, General Motors Company, GoPro Inc., Pfizer Thursday - ConocoPhillips (before), Intercontinental Exchange (before), LinkedIn (after) Friday - CME Group Inc.

Trading Block: Earnings! Ford Alibaba Amazon - rocking and rolling! Odd Block: Calls trade in ICICI Bank Ltd (IBN), calls trade in Abbott Laboratories (ABT), and call buyers in JA Solar Holding Co. (JASO) Mail Block: Listener questions and comments Question from BillyMo - Hey, any new updates with after hours options trading on earnings stocks? Question from NVid - The junk bond market is melting down and interest rates are hovering around zero. Is the best place to find income these days via options writing rather than investing in fixed income or related products? Around the Block: More earnings! How did AMZN do? What about EA? Will OPEC and Russia trust each other?

Trading Block: Earnings today before the bell Hess Corp. ConocoPhillips fell at least 6.1 percent. Banks retraced their best rally in more than a month Friday, with Bank of America Corp. down 3.1 percent. McDonalds Corp. gained after the fast-food giant earnings beat analysts forecasts as all-day breakfast helped fuel U.S. sales. The Fed begins a two-day meeting tomorrow. The probability of a rate increase this week has stayed low after the December liftoff, and chances of a March boost have fallen to one-in-four from even odds at the start of the year. Odd Block: Calls trade in Consumer Discretionary SPDR (XLY), and calls and puts trade in Patterson-UTI Energy, Inc. (PTEN) Mail Block: Listener questions and comments Question from Sean - What is the characteristic for trading options when the price nears even strike levels? Around the Block: Earnings! Tuesday - Apple Inc., AT&T, Procter & Gamble Wednesday - Facebook Thursday - Amazon, Electronic Arts, Ford Motor Company, Microsoft, Alibaba Group Holdings, Xerox Corporation Friday - Google

Trading Block: Stocks rebound as Dow up more than 200 points and oil jumps 5%. Wall Street pay takes a hit, braces for deeper cuts. Yellen to keep Fed rate options open amid turbulent markets. Earnings today (Thursday): Before the bell: Southwest Airlines, Verizon Communications After the bell: American Express Company, E-Trade Financial Corporation Odd Block: Calls trade in NewCastle Investment Corp. (NCT), puts trade in Anadarko Petroleum Corp (APC), and calls trade in United Parcel Service, Inc (UPS) Mail Block: Listener questions and comments Question from AV56 - When is a good time to start trading options? Is there any certain time of the week or year that options traders are focused on? Question from Bob - I have heard pros sat that when too many retail jump into a trade then do the opposite. Does that apple to options as well? Question from Nina - Is this a good time to buy calls on indexes? If so, how far out should I trade? Around the Block: Earnings! Friday - General Electric Company

Trading Block: U.S. stocks rally from 3-Month lows as energy, healthcare lead. Goldman plans to cut up to 10% of fixed-income traders, salespeople. Before the bell: JP Morgan Chase. What crisis? JPMorgan Chase reports $5.4 billion profit. After the bell: Intel Corporation. ATM Straddle - $1.45, ADV 72K contracts, today: 115K. Odd Block: Puts trade in Fiat Chrysler Auto NV (FCAU), calls trade in KKR and Co. LLP (KKR), and calls trade in Blackstone Group (BX) Mail Block: Listener questions and comments Question from Kddidy - Thanks for answering my questions! I want to protect a stock position with puts at a strike 2% below market but there is not a strike there. I thought of dividing my purchase between two different strikes to get an average of 2% but I do not want all the guys to call me stupid. Mom always said I was a genius but it is hard to feel like one when buying something called a Put Stupid. What should I do instead? Regards, Mr. Smart Question from Mark B. - How would u have structured the short stock hedged by long calls trade that made 10 milly on OB 477? Around the Block: Earnings season kicks off: The Big Banks: Citigroup Inc., Blackrock, PNC Financial, US Bancorp, and Wells Fargo and Company

Trading Block: Last week was the worst start to a trading year in history. An early rally lost steam later in the session. Intra day S&P high - 1935. Does the lack of IPOs signal a looming recession? Fear makes oil options increasingly expensive. Odd Block: 1-by-2 call spread in The CBOE Volatility Index (VIX), buy to close short in Teva Pharmaceutical (TEVA), and bullish risk reversal in Powershares QQQ Trust (QQQ). Strategy Block: Tosaw discusses the importance of "drawing a line in the sand" and having a plan. Mail Block: Listener questions and comments Question from Pepe - Who is paper? Around the Block: This Week in the Market Alcoa kicks off another round of quarterly earnings on Monday and there are several economic reports worth nothing particularly on Friday. Jan 12: JOLTS Jan 13: Beige Book, Treasury Budget Jan 14: Jobless Claims Jan 15: PPI, Retail Sales and Consumer Sentiment

Trading Block: Hysterics are creeping back into the market in the New Year. This question seems to be popping up all over the place this week. Is this 2008 all over again? Chinas 29 minutes of chaos: stunned brokers and a race to sell. Apple Inc. said App Store billings topped a record $20 billion in 2015, but growth from the business appeared to slow even as the company introduced apps on new devices such as Apple TV and Apple Watch. The selloff continues - Apple broke $100 for the first time since Oct 2014 - barring the brief selloff in August. Apple crossed the $200B cash level last summer - but also about $50B in debt. Apple cash per share: $3.79 Odd Block: Calls trading in SPDR S&P Homebuilders ETF (XHB), calls trade in CONSOL Energy Inc (CNX), and puts roll in Weatherford International PLC (WFT) Mail Block: Listener questions and comments Question from Charlie C. - Do second order greeks have any relevance for retail traders? Question from 777 - How do you adjust your options trading for cheap stocks below $10. Around the Block: Earnings! Another quiet earnings week.  The fourth-quarter earnings season begins in mid-January. Thursday - Bed, Bath & Beyond (after bell), The Container Store (after bell). The market kicks off its first week of 2016 with several economic reports including Fed minutes on Wednesday and the jobs report on Friday.

Trading Block: OCC 2015 cleared contract volume third highest ever at 4.2B. Options traders adding to bullish bets on Europe stocks for 2016. Stocks plunge as Dow tumbles about 420; S&P falls below 2,000. Odd Block “Best of” 2015: Weird trade of the year - 11/30/15 - Put rolls and calls going up in Ascena Retail Group Inc (ASNA) Loser of the year - 6/1/15 - Possible upside Anadarko Petroleum Corp. (APC) butterfly. Most ironic winner of the year - 10/26/15 - Mens Wearhouse (MW) buy call/sell stock. Strategy Block: Tosaw discusses what to do if you are selling a put and the market goes against you. Around the Block: This Week in the Market. The market kicks off its first week of 2016 with several economic reports including Fed minutes on Wednesday and the jobs report on Friday. Jan 4: Construction Spending Jan 6: International Trade, Factory Orders and FOMC Minutes Jan 7: Jobless Claims Jan 8: Unemployment

Originally posted on December 24th, 2014, we bring you "The Most Epic Strategy Block Ever" Trading Block: A shortened holiday week, so not much is moving on the street. Upside move in Taser. Facebook and Amazon. Odd Block: Calls trade in Cobalt International Energy (CIE), opening calls trade in U.S. Bancorp (USB), and calls going up in Alibaba Holding Group Ltd (BABA). Xpress Block: Another new tool is being rolled out by OX - IRIS. Strategy Block: In the spirit of the season, Uncle Mike presents The Twelve Rules of Options Trading! Around the Block: Have a wonderful holiday week everyone!

Trading Block: The S&P 500 surged 2.8 percent last week, buoyed by gains in oil and raw-material companies, some of the year’s least-loved stocks. VIX jumped 14 percent Monday to 17.91. Oil led an early retreat among commodities Monday, sliding more than 3 percent from a three-week high as Iran repeated its goal of boosting exports after sanctions on the country are lifted. Odd Block: Calls trading in Royal Caribbean Cruises Ltd (RCL), calls trade in Franklin Resources Inc (BEN), puts trade in Zillow Group, Inc. Class C (Z) Strategy Block: Uncle Mike Tosaw discusses evaluating your overall financial portfolio. Mail Block: Listener questions and comments Question from Nelson - This is question is for Andrew from Maine. During my morning run yesterday I was listening to Episode 484.  At the 14:10 minute mark Andrew mentioned a strategy that the end result was that money from one IRA account was moved to a different IRA account. I listened to that portion of the podcast a few times but just could not quite understand the strategy. Could you please help me understand this strategy? Thanks for any help you could give me. Also, thanks so much for the podcast. I travel 30 minutes each way to work and it is very educational. Thanks, Nelson. Around the Block: No quarterly reports of note are scheduled for this holiday-shortened week. After the first of the year, Walgreens and Monsanto are among those set to report. The fourth-quarter earnings season begins in mid-January.

Originally published on August 25, 2015, this episode focused on the biggest single point drop ever in the DJIA. Also, chicken little was referenced. 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: The Force is not strong with Disney. “Star Wars: The Force Awakens” had a record-breaking $238 million opening weekend at box offices in the U.S. and Canada, in addition to a near-record $279 million overseas, but DIS was off 2% today and off nearly $10 since the movie launched on Thursday. Dow sets mark for most volatile December since 2008. Wall St. slides on lower crude prices, stock options expiry. The Bad of apple of the stock market this month: Apple. Oil prices hit 11-year low as global supply balloons. Odd Block: Calls trade in iShares MSCI Brazil Index (EWZ), calls trade in Direxion Daily Financial Bull 3x ETF (FAS), calls trade in Mosaic Co. (MOS) Strategy Block: Tosaw discusses twelve-month LEAP knock-out collar strategy. Mail Block: In which the listeners weigh in Question from 777 - Is there a specific reason OI in SPY puts has big cluster at the even strikes? Around the Block: Pre-Christmas earnings coming from Nike, Micron and few others.

Trading Block: Crude oil futures fell to seven-year lows - below $35. VIX: On Friday, it was up 28 percent at 24.72. Volatility the surest bet in stocks after Fed meets. Three U.S. fund sectors fear SEC proposal on derivatives may hurt ETFs. Odd Block: Buying vertical call spreads in Console Energy (CNX), upside call purchase in Royal Caribbean Cruises LTD (RDL), selling June 37 puts in Mondale International Inc (MDLZ) Strategy Block: Uncle Mike Tosaw discusses his recent SPY trades Around the Block: All eyes and ears will be the Federal Reserve as they are expected to announce a possible rate change on Wednesday. But, there are several other economic events worth noting as well. Dec 15: Consumer Price Index Dec 16: Housing Starts, FOMC Announcement Dec 17: Jobless Claims    

Trading Block: Oil was down, but energy stocks seemed to drive the market upward. Natural gas down around $2 level today. Odd Block: Call buyers in SPDR Gold Trust (GLD), call buyers in Whole Food Market (WFM), and calls trade in Mens Warehouse (MW) Around the Block: What will the Fed do?

Trading Block: There is an even weirder thing happening in financial markets. SEC to crack down on derivatives. Oil tumbles to six-year low as OPEC abandons production target. Odd Block: Calls trade in JP Morgan Alerian MLP index (AMJ), calls trade in SPDR S&P 500 ETF (SPY), and calls trade in Sunedison Inc. (SUNE) Strategy Block: Uncle Mike Tosaw discusses a different way to execute a stock repair strategy. Around the Block: The Fed - Will they or will they not? Dec 8: JOLTS Dec 10: Jobless Claims, Treasury Budget Dec 11: PPI, Retail Sales, Business Inventories, Consumer Sentiment

Trading Block: A bit of a selloff today - Yellen signals growing likelihood of a December rate hike. OCC cleared contract volume increased 10% in November. SEC charges twin brothers with fraud for options trading Spoofing and order mismarking. Odd Block: Call buyers in Medtronic PLC (MDT), call sellers in Emerson Electric Co. (EMR), and put sellers in InvenSense Inc. (INVN) Around the Block: Non Farms tomorrow (12/4)

Trading Block: VIX and the egocentricity of the Fed. Odd Block: Calls trade in Qunar Cayman Islands Ltd (QUNR), puts trade in Ascena Retail Group Inc. (ASNA), and puts trade in Zoetis Inc. (ZTS) Strategy Block: Uncle Mike Tosaw gives us an update on his most recent SPY positions. Around the Block: Non-Farms and the Fed are the main events we will be watching this week.

Trading Block: Earnings! Before the bell today: Gamestop Corporation, Tyson Foods, Trina Solar. After the bell:  Palo Alto Networks. S&P 500 profits fall $25 Billion in first three quarters of 2015. Oil slides back lower after spike on Saudi statement. CME: Shrinking locally to grow abroad. Odd Block: Puts trade in Freeport McMoran Inc (FCX), puts trade in Chesapeake Energy Corp (CHK), and calls and puts trade in Burlington Stores Inc. (BURL) Listener Mail: Questions and comments from listeners Question from Vega - Do puts and calls become more expensive ahead of events due to the risk premium? If so, how do I avoid that in the market? Question from Peter Davies - Stocks are being hit by latency sensitive strategies like HFT. Is that happening in options as well? Around the Block: Economic reports this week: Nov 23: Existing Home Sales Nov 24: GDP, Consumer Confidence Nov 25: Durable Goods, Jobless Claims, New Home Sales, Consumer Sentiment

Trading Block: Apple plummets to 4th place among hedge holdings, from No. 1. Square surges after raising less than sought in IPO. BATS reports successful launch of EDGX Options - The new market launched on November 2nd and implemented a phased rollout of symbols, which was completed November 17th. Odd Block: Calls trade in The CBOE Volatility Index (VIX), calls trade in CurrencyShares Euro Trust (FXE), and calls trade in Mosaic Inc. (MOS). Listener Mail: Listener questions and comments Question from McDuff - What is a naked options position? Question from Kimble - Could a naked call pose huge risks - perhaps unlimited? Question from Fayecuzername - I expected more "Rocktobers" out of shear umbrage. As to my question regarding hedging with ratio spreads, on Friday I put on a SPY 11/20/2015 195-190 put 1x2 for a $.02 credit. Discuss and deride. Thanks. Around the Block: Earnings on Friday - Abercrombie & Fitch, Foot Locker. Nov 19: Jobless Claims Report

Trading Block: Rally Ho post Paris. U.S. stocks rise slightly as markets see muted reaction to Paris attacks. Getting Bullish on Yahoo! Heavy call action today. Getting bullish on Bank of America (BAC). Odd Block: Puts trade in TJX Companies Inc (TJX), calls trade in Lions Gate Entertainment Corp (LGF), and dalls trade in Burlington Stores Inc. (BURL). Strategy Block: Tosaw discusses how he has stretched deltas since October 26. Mail Block: Listener questions and comments Question from Carmine - Hi guys, awesome site, great info Since I actually think you guys are for real, I have a simple question. I have just put my toes into options, I know I need help in education, but there are so many places that are more interested in taking your money than helping you. So I am asking you guys, where do you think is a good place to go and learn the simple things at first, such as, when, why, and how to use spreads, or maybe not use them. To day trade or not? I am hungry, with a small account. I am asking for your help. Thank you. Around the Block: The earnings spotlight is on Wal-Mart and other retail giants this week. Also, numbers! Nov 17: Consumer Price Index, Industrial Production Nov 18: Housing Starts, FOMC Minutes Nov 19: Jobless Claims

Trading Block: Stocks fall as ECB, Fed weigh next moves. White says short selling getting her "intense attention." Earnings:   Before the bell today:  Kohls Corporation, Viacom After the bell today:  Applied Materials, Inc., Cisco Systems CSCO - $27.94, ATM Straddle: $1.40 - Approx. 5% Stocks to Watch: Kohls, Advance Auto Parts, Derma Sciences Odd Block: Puts trading in United States Steel Corp. (X), calls trade in Microsoft Corp (MSFT), and puts trade in Atwood Oceanics Inc. (ATW) Listener Mail: Listener questions and comments Question from OptionDummy: Are there any additional nuances with a name reporting earnings on Expiration Friday? Question from Cookie: What is the best online broker for stocks and futures options? Question from Cspell: I'm interested to get OI's thoughts on second order greeks. I don't recall them ever being mentioned on any of your shows before. I don't see too much mentioned about them in general, even in the hinterlands although I have recently seen them talked about on another site and they tout them as the holy grail so to speak. Thanks! Around the Block: Earnings on Friday: J.C. Penney, Tyco International; Nov 12: Jobless Claims, JOLTS and Treasury Budget; Nov 13: PPI, Retail Sales and Consumer Sentiment; on Friday, the Commerce Department reports U.S. retail sales for the month of October, when retail sales likely increased 0.3%.

Trading Block: Who was right about volatility? What will the Fed do? Crude doubletalk from OPEC. Crude curve looking interesting. Odd Block: Calls trade in EFA-big upside call closer, calls trade in MW, and puts trade in MDT. Strategy Block: You, too, can be a winner. Or, the importance of looking at your whole portfolio. Mail Block: Listener questions and comments. Question from 777: What quirks are there with time decay, [especially] during [the] last few weeks with ITM vs. OTM? Question from Topcat: Are options less risky than contracts for difference? Around the Block: Retailers begin to step into earnings spotlight this week, including J.C. Penney and Macy's. Other highlights will include reports from tech giants Applied Materials and Cisco Systems.

Trading Block: Earnings! Before the bell today:  Apache, Celgene Corporation, Crocs, Inc., After the bell today:  Walt Disney Company, DreamWorks Animation News: DIS: $113. ATM straddle: $4.85, 4.3%. On a huge rally since massive selloff in August. OCC Cleared Contract Volume Declined 26% in October. Market falls in line with Yellen, but now Fed credibility at stake. Odd Block: Calls and puts trade in Bank of America Corp. (BAC), calls trade in Metlife Inc. (MET), and puts trade in Straight Path Communication (STRP) Listener Mail: Listener questions and comments Question from Kevin - How do you put on such a small trade for a client and still get paid? Question from David - There is huge open interest for TWTR at the 30 strike for the Nov monthly, almost 240,000 contracts evenly split. Can you talk about the possible implications? Is it interesting? Around the Block: Earnings! Friday - Humana Numbers: Nov 5: Jobless Claims Nov 5: GDP Nov 6: Unemployment

Trading Block: Earnings! Before the bell today: Visa, Cardinal Health, Estee Lauder, After the bell today: Allstate Corporation, AMC Entertainment, Avis Budget, Fitbit, Inc., Tenant Healthcare Corporation Chipotle tumbles after e. coli outbreak is linked to chain. Odd Block: Calls trade in Tyson Foods, Inc. (TSN), puts trade in Pilgrims Pride Corp. (PPC), and calls trade in Sprouts Farmers Market Inc. (SFM). Strategy Block: Tosaw discusses his all bullish client Mail Block: Listener questions and comments Comment from CSpell - With SC down 14% so far on 10/29/15 and what looks like some investigation pending, it seems our friend was on the wrong side on this one. I think you should have a follow up on odd blocks as part of the show, could be fun. Question from RBolen22 - Are there active listed options markets outside the US that are worth trading? Have you ever covered this? Around the Block: High hopes for Facebook, Disney earnings this week.  

Trading Block: Earnings! Before the bell today: Coca-Cola, CME Group Inc., the biggest futures-market operator, said profit soared in its third quarter, lifted by higher trading volume and growth in the company’s market data and information services business. After the bell today: BAIDU, Electronic Arts, Expedia, LinkedIn Corporation, Starbucks. EA - ATM Straddle $4.70 - Approx. 6.2% Also, on this day (October 29) in 1929: The New York Stock Exchange crashed in what would be called the Crash of '29 or "Black Tuesday." Odd Block: Calls trade in CBS Corp (CBS), calls and puts trade in Walgreens Boots Alliance Inc. (WBA), and calls trade in Kate Spade and Co. (KATE) Listener Mail: Listener questions and comments Question from 603 - Before a report like FOMC, is buying calls bad due to Vol premiums? Question from 777 - What quirks are there with time decay - during the last few weeks with ITM vs. OTM? Question from Angus G - On your TopStep radio show just now you mentioned "buying WTI Crude Oil calls". What is the ticker symbol for these products?! When I put WTI into my broker I get "W&T Offshore". I thought USO was the best/only way to speculate on CL using options? You mentioned however that there might be better options that more directly mirror crude... Thanks Around the Block: Earnings on Friday: CBOE Holdings, CVS, Chevron.

Option Block 473: Behold the Power of Deo Trading Block: What is happening right now? Earnings! Before the bell today: Xerox Corporation. Wall Streets next test: Profits, data, and the Fed. The S&P 500 rallied 2.1% last week - its fourth consecutive week of gains. Once again, Apple is expected to fuel earnings. Gold rally brings out options bulls. Odd Block: Calls and puts trade in Diageo PLC (DEO), calls trade in the Coca-Cola Co. (KO), and calls trade in Mens Wearhouse Inc. (MW). Strategy Block: St. Charles awakens, andTosaw discusses his latest trading strategies. Mail Block: Listener questions and comments Question from Veg - I do not know much about options - apologize for my noobness. In August, during the mini crash, were traders selling premium in the equity options? If so, how does that work? Is the spread wide? Around the Block: What are we watching? Earnings! This week will be one of the busiest of the third-quarter earnings reporting season. Tuesday - Alibaba (before bell), Apple (after bell), Gilead Sciences (after bell), Jet Blue (before bell).

Trading Block: Today we feature special guest Dan Cook from NADEX. Earnigns: Before the bell today:  Eli Lilly, 3M, Dow Chemical, McDonalds, Nasdaq, Sirius, Southwest Airlines After the bell today:  Alphabet Inc., Amazon, AT&T, Microsoft, Pandora News: Dow surges more than 275 on McDonald's, ECB stimulus talk - McRevenge! McDonald's turns table on Chipotle. Now that Google Is Alphabet, options suggest another big stock move. Barclays: Use bullish options to play gold rally. Odd Block: Calls trade in Prudential Financial Inc. (PRU), calls trade in eBay Inc (EBAY), and calls trade in Corning Incorporated (GLW). Listener Mail: Listener questions and comments Question from Fred - I trade futures all day but not options. Trying to trade on a longer term cycle to avoid juggling positions. What advice do you have for someone who wants to trade options but cannot babysit their options daily? Question from Peter D. - Stocks are being hit by latency sensitive strategies like HFT. Is that happening in options as well? Around the Block: Earnings on Friday - American Airlines (before bell), Procter & Gamble (before bell), Whirlpool (before bell).

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.

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?