The Option Block

Option Block 304: Polar Vortex Be Damned Trading Block: Another day, another mild selloff. Crazy fat finger print in gold futures. Apple taking it on the chin. Polar vortex = Boom market for snow derivatives? Odd Block: Put sellers trade in Wyndham Worldwide Corp. (WYN), put sellers trade in iShares MSCI Japan ETF (EWJ), closing call sellers trade in iPath S&P 500 VIX Short Term Futures ETP (VXX)....

Option Block 303: Wither Single Name VIX? Trading Block: Most of the major indexes selling off about 1%. A lot of put activity on the street. The numbers are out for 2013! Odd Block: Puts trade in SPDR S&P 500 ETF Trust (SPY), puts trade in Yahoo! Inc. (YHOO), review from 11/25: Ziopharm Oncology Inc. (ZIOP), also Titan International Inc. (TWI), review from 10/24: Jive Software Inc. (JAIV), also C...

Option Block 302: Looking Forward, Looking Back Trading Block:  Predictions for 2014 Mark - I wish they could finally get the Minis right. Hopefully someone wiIl figure out how to aggregate spread flow across exchanges to improve spread execution, less exchanges, less fixation by retail on VIX/ETFs and more migration to futures/futures options.  Andrew -  I like a VIX low print prediction.  Where...

Option Block 301: Twas the Day Before Christmas Trading Block A strong rally on the street on the back of a strong consumer sentiment - A sea of green.  Everyones favorite fruit company, Apple up during the day. Some substantial moves in CBOE.  VXX hits a low for the year.   Odd Block Call buyers trade in Meritor Inc. (MTOR), p ut sellers trade in Ambac Financial Group, Inc. (AMBC), c all sellers...

300th Episode Spectacular! Hooray for our 300th episode! Mark Sebastian, Mike Tosaw, Andrew Giovinanzzi, Alex Jacobson, Mike Cavanaugh and John Grigus join Mark "The Voice of Options" Longo, to reminisce about the all their favorite moment and shows of the past three years. Comment from Phil M. - Great show guys! Fun times listening to the Option Block. Keep up with what you guys love to do. Comme...

Option Block 299: Band-Aid for a Severed Jugular Trading Block: A broad rally across the street on the backs of strong manufacturing data. Fed meeting coming up.  Herbal Life halted today. SEC promising to crackdown on insider trading. What exactly is HFT?  Stock buybacks accounting for substantial percentages of ADV.  Odd Block:  Puts buyers trade in Royal Bank of Canada (RY), puts trade in ZION...

Option Block 298: Only Getting 80% Trading Block: A mixed day on the street. Post non-farms, what is left to give us some vol? Where does one look for premium writers in this environment? Tosaw Update. OX Update. Odd Block: Calls buyers trade in CYTRX Corp. (CYTR), calls buyers trade in Glu Mobile Inc. (GLUU), and call buyers in Bean Inc. (BEAM) Xpress Block: Twitter and Facebook was where the act...

Option Block 297: Talk of Tesla & Twitter Trading Block: Not a lot to drive the market today. Futures are trading a discount to the cash. Non-farm payrolls. Xpress Block: Tesla and Twitter were lighting up the OX desk today. Also, the United/American Airlines merger - What happens to those investors? Around the Block: Keeping an eye on the 10-year and Home Builders earnings. 

Option Block 296: Apple Fire Sale Trading Block: A mild selloff on the street. Some vol has been creeping back into the market ahead of Non-Farms. The Apple zealots are back. Pressure continues on the metals. Odd Block: Calls trade in Arris Group Inc. (ARRS), calls trade in CME Group (CME) REVIEW FROM 10/24 - Calls trade in Jive Software Inc. (JIVE) Xpress Block: Rumors that Fords CEO may be comin...

Option Block 295: Saving Yourself Some Headaches Trading Block: Is there any vol on the horizon? Amazon drones - watch your head! Black Friday a resounding meh, Cyber Monday still a question mark. The Tosaw update: GLD, SLV, APPL, etc. Odd Block: IB Options Brief: Best Buy Co. (BBY), calls trade in Intel Inc. (INTC), combos trade in Sprouts Farmers Market Inc. (SFM), calls trade in Forest Labs Inc...

Option Block 294: You’re Soaking in It Trading Block: Positioning going into the short weekend. Where are the long premiums? Where is the free juice? Are OX clients still trading or are they already on vacation? ZNGA love - time for Andrew to gloat. TWTR giving up some of the gains. Odd Block: Hail Mary call buying in The CBOE Volatility Index (VIX), calls trade in Ziopharm Oncology Inc. (ZIOP), a...

Option Block 293: The Gift that Keeps on Giving Trading Block: A strong rally on the street with VIX futures getting utterly destroyed. Twitter has not been the big vol mover as expected. Tesla continues to take it on the chin.  Zynga: the stocky hat keeps on giving. Odd Block: Yesterday review - Calls trade in Star Scientific, Inc. (STSI), risk reversal trades in the CBOE Volatility Index (VIX),...

Option Block 292: TWTR Is No FB Trading Block: The first day of trading for Twitter options was very interesting, but yet not the day everyone was hoping for. With these numbers, Twitter will not set a first-day options trading record as Facebook did on its debut. Alex said Dec 50 calls were popular at OX today.  CBOE now disseminating VXST every 15 seconds instead of once per day. Interesting art...

Option Block 291: Twas the Night before Twitter Trading Block: A mild rally on the street today. A tepid outlook from Walmart, doesn't bode well for the economy. Cisco taking in on the chin post-earnings. Happy Twitter Options Eve! Any client interest in trading twitter options? Odd Block: Crazy call buyer in The CBOE Volatility Index (VIX), calls trade in Tile Shop Holdings (TTS). Xpress Block: N...

Option Block 290: Keep that Theta Rolling Trading Block: Twitter IPO released, started at $26. Can't wait to sell the puts. Tesla taking it on the chin, breaking through the 140 handle. Priceline closed down. Mail Block: Keep those questions coming Question from Ian @mategio - Can you please expand on these formation you guys talked about (Apple, buy the guts, sell the wings)? Can I see them in Op...

Option Block 289: What a Twit! Trading Block: November 14 is official day Twitter goes public. CBOE earnings on Friday, CME before the open - both resounding "mehs." Apple actually closes around where it started. Blackberry taking it on the chin. Again. Odd Block: Calls trade in Berry Petroleum Co. (BRY), calls trade in Applied Micro Circuits Corp. (AMCC), calls trade in Marin Software Inc. (MRIN)...

Option Block 288: The Exciting Road to Nowhere Trading Block: A selloff at the very end of the day. Most major indexes down half a point. Interesting movement post Facebook and Apple earnings. In hindsight, the Apple skew makes a lot more sense post Google earnings. Odd Block: Puts trade in Ultrashort Euro ProShares (EUO), calls trade in Tile Shop Holdings Inc (TTS), calls trade in Fortress Invest...

Option Block 287: Trading Patterns   Trading Block: A mild rally on the street. Everyone is still playing the wait and see game after hours today with Apple. Interview Block: Guest: Mark Greenstein, CTA with Orchard Grove joins the gang as they discuss metals, rates, as well as the VIX products. Xpress Block: It is time once again for everyone’s favorite "The Trading Patterns" game! Around the Blo...

Option Block 286: Super Thursday Trading Block:  Another mild day on the street. Earnings-Palooza today! Ford before the bell. A newly revived Microsoft.  Amazon surges after hours. Zynga breaks the four handle.  Crazy developments in Apple post iPad. Odd Block:  Calls trade in Covanta Holding Corp (CVA), straddle trades in Microsoft Corp. (MSFT), calls trade in Silvercorp Metal Inc. (SVM), calls...

Option Block 285: Listener Mail Extravaganza Trading Block: Navigating post-shutdown markets.  VIX Cash giving up the ghost post-shutdown.  Google, another big after hours more last week. Netflix (aka the Widowmaker) rallying hard pre-earnings.  Tesla taking in on the chin. Odd Block: Calls trade in Orbitz Worldwide, Inc. (OWW), large spread trades in iPath S&P 500 short term futures ETN (VXX), ca...

Option Block 284: The Tosaw-Giovinazzi Show   Trading Block: Google up $43 after market. How long can the VIX go? Are we looking at the bottom? Gold reacts to the Fed tapering announcement. Odd Block: Calls trade in Ingersoll-Rand PLC (IR). Unusual activity in Cole Real Estate Investments (COLE). A put sale for income gone wrong in Seadrill LTD (SDRL). Trading all over the board in Real Goods Sola...

Option Block 283: Kick the Can Trading Block:  A huge drop in VIX cash. Gold also got crushed today.  Plus, a very unusual trade in VXX. Xpress Block:  Everything on the equity options desk was active today Around the Block: Upcoming earnings - Alcoa, Google.  Waiting to see if Washington continues to kick the can. 

Option Block 282: A Whole New Kind of Stupid   Trading Block: There was a mild selloff on the street today. VIX cash continues to creep north, as the shutdown continues. Did VIX call sellers get out in time? Potbelly to join the ranks of high-flying IPOs? Tesla gain back all of the "fire losses". Odd Block: Calls trade in eBay Inc. (EBAY), calls trade in Dex Media Inc. (DXM), and puts trade in Mil...

Option Block 281: It’s Time for Histrionics Trading Block: The shutdown dance continues. VIX cash break the 17 handle. Tesla in a frenzy after car fire. Ackman/Icahn/Herbalife debacle.  CBOE glitch causes routing issues for NASDAQ. Odd Block: Puts trade in Covanta Holding Corp (CVA), calls trade in the SPDR Dow Jones Industrial Average ETF (DIA), collar trades in Consolidated Edison, Inc. (ED) Xpr...

Option Block 280: Pre-Shutdown Put Bonanza Trading Block: Shutdown fears hanging over the market. Vol surging back into the marketplace, but Bloomberg says realized vol is nonexistent.  Odd Block: Calls trade in Northstar Reality Finance Corp. (NRF), calls trade in YPF SA (YPF), and puts trade in Intrexon Corp (XON) Xpress Block: How has the potential of a shutdown affected OX customers? More trad...