Options Broker Madness, Week Two
Sixteen will enter the ring, but there can be only one winner
Week one of match ups gave us upsets, blow outs, and a few tears. What will the rest of round one bring? And then onto round two. The TastyWorks nation came out in force. Can the trend continue against TD Ameritrade (ToS)? Wily market disruptor RobinHood beat Fidelity. What other surprises are in store? You decide.Â
Make your voices heard on Twitter, Facebook and StockTwits. Who will claim the title? That's up to you!
This year's fabulous prizes are:Â
- First Place: Amazon Echo Dot
- Second Place: Amazon Gift Card
- Third Place: Exclusive Options Insider Gear
Every time you vote (only on Facebook since Twitter votes are anonymous), share, or like the poll, you're entered to win. It's Chicago rules...vote early and often. Â
Upcoming Economic Reports A preview of what may move the market this week
| TIME (ET) | REPORT | PERIOD | FORECAST | PREVIOUS | | MONDAY, MARCH 19 | | Â | None scheduled | Â | Â | Â | | TUESDAY, MARCH 20 | | Â | None scheduled | Â | Â | Â | | WEDNESDAY, MARCH 21 | | 8:30 AM | Current account deficit | Q4 | -- | -2.10% | | 10:00 AM | Existing home sales | Feb. | 5.42mln | 5.38 mln | | 2:00 PM | FOMC announcement | Â | 1.50-1.75% | 1.25-1.5% | | 2:30 PM | Powell press conference | Â | Â | Â | | THURSDAY, MARCH 22 | | 8:30 AM | Weekly jobless claims | 17-Mar | 225,000 | 226,000 | | 9:45 AM | Markit manufacturing PMI (flash) | March | -- | 55.3 | | 9:45 AM | Markit services PMI (flash) | March | -- | 55.9 | | 10:00 AM | Leading indicators | Feb. | -- | 1.00% | | FRIDAY, MARCH 23 | | 8:30 AM | Durable goods orders | Feb. | 1.60% | -3.60% | | 8:30 AM | Core capital equipment orders | Feb. | -- | -0.30% | | 10:00 AM | New home sales | Feb. | 626,000 | 593,000 |
Options Insider Radio Network Episodes you may have missed from Options Insider Radio last week
Options Insider Radio Interviews: Talking VIX Controversy and Bitcoin Options with CBOE Posted March 16th, 2018 In this episode, Mark is joined by John Deters Chief Strategy Officer and Head of Multi Asset Solutions, Cboe Global Markets. They discuss: - John's background in financial services
- What are multi asset solutions?
- How is the integration with BATS unfolding?
- The VIX manipulation study
- Will they bring back VXO?
- Thoughts about XIV and SVXY
- Responsible use of volatility products
- The possibility of options on crypto currencies
- And more...
 Option Block 699: Rihanna Clabpack Tanks SNAP Posted March 16th, 2018 Trading Block: Looking back at the week's news: Strategy Block: Uncle Mike Tosaw discusses limit orders Mail Block: Listener questions and comments - Question from Matt M. - Why does Mark always say that Andrew doesn't understand expiration of vertical spreads in SPX? Is that true or some inside joke I missed?
- Question from Jello Fan - VXX 1-yr 50% OTM puts plus VIX 3 month 15% OTM call verticals - 5 or 10 handles wide. Is that the secret sauce?
Around the Block/Economic Reports: - Mar 16: Housing Starts, Consumer Sentiment, JOLTS
 Options Insider Radio Interviews: Talking Options and Volatility with CME Group Posted March 15th, 2018 In this episode, Mark is joined by Derek Sammann, Global Head of Commodities and Options Products and Blu Putnam Chief Economist at CME Group. They discuss: - Looking at options at the FIA conference
- Volatility spike is a great opportunity to use options
- Interesting move in the flight to quality
- The global use for options
- Globalizing participation
- Re-defining who CME Group is and who they want to be
- And more...
 Options Playbook Radio 200: FedEx Butterfly to Capture Earnings Posted March 15th, 2018 Last week we talked about a Costco butterfly. Let's revisit what has happened since. You can find more on page 102 (butterfly) and page 126 (iron condor) of The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition. Specifically: - A review of last week's comparison of the butterfly vs. iron condor in COST
- Breaking down the butterfly
- What about the iron condor?
- What happened after COST announced earnings?
- Implied volatility and time decay as factors
- Moving on to FedEx, which reports earnings on 3/20
- How to set up a trade to contain the earnings
- Selecting strikes
- What is the cost?
- What is the maximum risk?
Do you have a question that you want answered on a future episode? Send them to Brian at [email protected], or to the Options Insider at [email protected].  Option Block 698: Madness Posted March 13th, 2018 Trading Block: Discovering the plight of liquidity providers at CBOE RMC today. It's ironic timing since Spot Trading just shut down. Potentially changing tick sizes in VIX futures and options. VIX options breakdown is 90/10 standard vs weekly volume. Odd Block: Line in the sand puts in Dick's Sporting Goods Inc (DKS). Buying more Tim in Johnson Controls International (JCI). Size put/call kickers in The Western Union Co (WU) Mail Block: It's madness! - The Options Insider: It's time for our annual Options Broker Madness Tournament! Reply/DM to nominate your broker to compete in this year's BrokerBattle. 16 firms can enter....but in the end there can be only one. Get your nominations in now & prepare to battle. Broker Madness starts 3/12.
- Question from Scott Somer -VolView The $VIX Apr 29-35 call spread is going for about 40 cents, are you more willing to buy or sell it to open? Comment from Oscar Stanko:Hi Mark. I am an avid listener to your options podcasts and wanted to sincerely thank you for your time and energy you've put into creating this valuable (and often humorous) content!
- Question from BigBlanc -I'm liking the VXX erosion play. Question though - Why does everyone talk puts on this trade? Why not selling calls or call spreads? Or maybe the combo - buying puts and selling calls or call spreads? Any back tests on that?
Around the Block: What's coming up this week? Â This Week in Futures Options 94: Talking Trade Wars Posted March 12th, 2018 Topics this week include: - EuroDollars
- Oil/WTI
- E-mini
- Metals/Gold
- Winners: E-mini Russell, Nasdaq E-mini
- Losers: Iron Ore, Soybean Meal
Futures Option Feedback: Listeners have their say - Question from NOZ3T: Is it possible to hedge some of these aggregate commodity ETFs with puts in their underlying itself - so hedge USO with WTI puts, Corn with corn puts - you get the idea?
- Question from Tom B.:Is it the same cost over time to buy calls in ags or metals where the premium is to the upside as it is to hedge the index with downside puts? Just trying to figure out my skews. Keep the show coming!
 Volatility Views 297: The Cboe RMC Rundown Posted March 12th, 2018 Volatility Review: A look back at the week from a volatility perspective. Cboe RMC: - What are our favorite presentations?
- Interesting discussions/topics?
- Tariffs, Trump & VIX: It has been another volatile week.
- VIX Cash - 16.54
- VIX Futures - "Super melty" and delicious
Russell's Weekly Rundown: - VIX Options: ADV - 1M
- VIX call/put: 2/1
- Total 12.6m (8.45m Calls, 4.16m Puts)
Volatility Voicemail: Volatility Flash Poll XIV is off the board and SVXY is a pale shadow of its former self. So how are you getting your "short vol" fix these days? Reply/DM with alternative suggestions. - Short VIX Futures
- Long VIX Puts/Spreads
- Short VIX Calls/Spreads
- Short SPX/SPY Volatility
Listener questions and comments - Question from Bixby -Do you think there will be an XIV 2 anytime soon?
Crystal Ball: Wild and reckless prognostication Last week: - Mark L. - 17.75
- Mark S. - 28
Next week: - Mark L. - 14.75
- Mark S. - 13.15
- Russell - 14.00
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Where to Find Options Insider Radio? Do you know all the ways you can access Options Insider Radio              Â
Options Insider Radio Network Live Recordings Do you want to be a part of the fun? This is when you can access the LIVE shows this week: Monday: Option Block LIVE at 3pm Central
Thursday:
Option Block LIVE at 3pm Central
Friday:
Volatility Views LIVE at 12pm Central This Week in Futures Options LIVE at 1:30 Central. As always, you can join in the fun at http://mixlr.com/options-insider/
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