The Option Block

Is the AI trade unraveling, or is this another opportunity to buy the dip?  Broadcasting from Cboe headquarters in Chicago, Mark Longo is joined by Henry Schwartz and Mike Tosaw to break down a brutal stock market sell-off, surging VIX and options volume tracking toward a potential daily record. On this episode of The Option Block, the panel discusses: Tech stocks under pressure: Nvidia, Tesla and Micron lead the single-stock options activity as AI favorites tumble. Buy the dip or brace for more? Mike explains his approach to the sell-off, key S&P 500 levels and the importance of setting exit rules before entering a trade. Options volume trends: Why ETF and index options are gaining ground while single-stock options volume struggles. Managing downside risk: Covered calls, collars, taking profits on short puts and monetizing protective hedges. Unusual options activity: Long-dated Western Union calls and a complicated DoorDash call position. What comes next: Jobs data, earnings and the signals that could distinguish a temporary shakeout from a deeper downturn.

Alphabet gets hammered, tech stocks tumble, and Trade Alert prepares for its final trading day. It's a Blood-Red Thursday with an extra dose of nostalgia on The Option Block. Mark Longo, "Uncle Mike" Tosaw and Cboe's Henry "The Flowmaster" Schwartz break down the earnings-driven selloff in Google parent Alphabet, the surprisingly subdued VIX response, and the small-cap rally defying the tech wreck. Plus, Henry reflects on Trade Alert's 21-year journey and its impact on options analytics, order flow analysis and market transparency. On this episode: • Alphabet's earnings fallout and the divergence between tech stocks and small caps. • Options activity in VIX, SPY, QQQ and IWM, including aggressive same-day call trading. • Unusual options activity in Norwegian Cruise Line (NCLH), Lionsgate Studios (LION) and Eastman Chemical (EMN). • Trading earnings: buying premium, selling premium or staying away? • Uncle Mike's patient pursuit of SLV puts and a potential return to silver collars. • Election risk, upcoming catalysts and what the panel is watching next.  

On this episode we break down the tech rebound, unusual options activity and the S&P 500's own "Mason-Dixon Line." Mark Longo, Andrew "The Rock Lobster" Giovinazzi and Mike Tosaw explore the market's trading range, shifting volatility and the debate over AI spending—including Elon Musk's colorful "guppy death" warning for the neocloud business. On the docket: Trading Block: Tesla, Nvidia, CoreWeave and other active names as tech rallies, plus VIX, interest rates and election uncertainty. Odd Block: Unpacking a massive JetBlue options trade involving call spreads and puts, plus unusual Braze call activity tied to its acquisition. Strategy Block: Managing protective collars after a stock declines. Uncle Mike uses Netflix to explain taking put profits, rolling protection and potentially funding additional stock purchases. Around the Block: Big tech earnings, Fed developments and the key S&P 500 levels the panel is monitoring. Plus, Uncle Mike fights back in the trivia challenge—and a history question becomes a surprisingly useful market metaphor.

A massive semiconductor call spread runs into a tech selloff—and the timing gets painful fast. On this episode, Mark Longo, Mike Tosaw and Henry Schwartz break down a $12.1 million bullish position in SMH, unusual options activity in Toast, and the market's latest reaction to Meta and Tesla earnings. Henry takes listeners inside the 55,000-lot SMH call spread, explaining its structure, defined risk and sharp decline in value. He also examines heavy call selling in Toast (TOST), including unusual market maker activity and in-the-money opening trades. Plus, the panel explores: • Premarket options trading: early volume trends, wider bid-ask spreads and execution challenges. • Mike's Meta collar adjustments and his reasoning for buying back short calls. • Active options trading in Nvidia, Apple, CoreWeave, Tesla and other leading names. • VIX activity, sector rotation and options pricing around the upcoming midterm elections. Mark also spotlights A Leg To Stand On (ALTSO), the charity helping children with limb disabilities—and the "cool kids" behind this episode's title.

Stocks are bouncing back, but volatility isn't ready to settle down. On this episode, Mark Longo, Andrew "The Rock Lobster" Giovinazzi and Mike Tosaw break down the market rebound, lingering concerns about AI stocks and the options activity heating up ahead of earnings and the midterm elections. The crew explores Cleveland-Cliffs' earnings-fueled surge and the short-term call trading chasing further upside. Plus, they examine unusual options activity in Equinox Gold, a November VIX straddle and the busy options tape in Nvidia, Tesla, Amazon, CoreWeave and more. In the Strategy Block, Uncle Mike explains why perfectionism can undermine your trading—from handling covered-call assignments and missed rallies to taking profits when you're close to your target. And between the market analysis and trading lessons, a Monopoly trivia battle sparks a debate over race cars, top hats and who would dominate a showdown among the network's hosts.

Unusual options activity in a Brazilian meat giant and the growing appetite for options-based ETFs serve up plenty to discuss on this episode. Mark Longo, Henry Schwartz from Cboe and Mike Tosaw from St. Charles Wealth Management break down market rotation, pressure on AI and semiconductor stocks, and another busy session for options traders. Henry joins from Cboe's trading floor with insights into defined outcome ETFs, downside buffers, covered call income strategies and the FLEX options powering many of these products. Uncle Mike explains how collars fit into his approach to portfolio risk management. In the Odd Block, the panel investigates massive JBS call activity that looks very different after examining the underlying trade data, a long-dated Under Armour put roll and fresh call buying in Fermi. Plus, VIX options activity, Nvidia and CoreWeave in the most-active rankings, and a listener showdown featuring Portillo's, Archer Aviation, Fermi and Lucid Motors.

Unusual options activity in Canadian Solar and First Solar takes center stage as a quiet session for the major indexes gives way to busy trading in individual stocks. On this episode, Mark Longo, Andrew Giovinazzi and Mike Tosaw break down surprisingly long-dated Canadian Solar (CSIQ) put buying and a burst of First Solar (FSLR) options activity following an analyst upgrade. Could the First Solar trades be part of a calendar spread built around earnings? The crew also examines VIX upside calls, options volume in SPY, QQQ and IWM, and the latest action in Nvidia, AMD, Micron, Meta, Apple and Tesla. Plus, Uncle Mike delivers an AC/DC-inspired Strategy Block on sticking with your trading plan, respecting risk and learning from experienced traders instead of listening to naysayers. We wrap up with the earnings and CPI outlook, bonds, and a listener showdown featuring Portillo's, Archer, Fermi and Lucid.

AI stocks take a beating, energy rallies and the S&P 500's sideways grind has Uncle Mike channeling Rodney Dangerfield's Caddyshack stockbroker routine. On this episode of The Option Block, Henry Schwartz of Cboe and Mike Tosaw of St. Charles Wealth Management join us to break down the technology selloff, options activity in Nvidia, Oracle, Micron and Tesla, and the strength in Apple and Palantir. They also examine VIX and VVIX, September options volume trends, and the growing role of ETF, index and FLEX options. In the Odd Block, Henry investigates aggressive put buying in EquipmentShare (EQPT), an unusual customer-to-customer call cross in Erasca (ERAS), and complex call rolls in Hut 8 (HUT). Uncle Mike explains how diversification and covered calls are helping his portfolio navigate sharp differences between sectors and individual stocks. Plus, the panel discusses Treasury yields, oil, geopolitical headline risk and SPX options positioning around the midterm elections—and why volatile markets demand discipline with trade sizing.

Unusual call activity lights up Pacific Biosciences and United Microelectronics as tech stocks climb and volatility retreats. Mark Longo, Andrew Giovinazzi and Mike Tosaw break down the options market, debate potential trillion-dollar IPO valuations and take a strange detour into secret Russian plague-lab headlines. On this episode: • NVIDIA and Tesla battle for the top spot in single-stock options activity, with updates on Meta, Apple, AMD and other active names. • PACB's rally draws large December call trades. • Long-dated UMC calls raise questions about whether traders are buying upside or selling premium. • VIX and VVIX retreat as the panel weighs volatility calls, inexpensive puts and potential election risk. • Mike explains how covered call ladders can help investors gradually exit concentrated, appreciated stock positions while collecting premium. • The crew shares what they're watching next in Treasury yields, equities and volatility.

Stocks turn from red to green during the show, but the unusual options activity offers plenty of its own surprises. Mark Longo, Henry Schwartz of Cboe and Mike Tosaw of St. Charles Wealth Management break down the market reversal, VIX and VVIX, and the options trades catching their attention. In the Odd Block, the panel digs into a sizable January call purchase in Fermi (FRMI) despite the stock's steep decline, speculative upside call buying in eToro (ETOR), and aggressive call sweeps in Uniti Group (UNIT). They also explore: Heavy options activity in QQQ and IWM, plus the latest single-stock trading. Henry's takeaways from the Robinhood Summit, including extended options trading hours, automated trading and prediction markets. Mike's outlook for the S&P 500, Treasury yields and selling silver puts. The debate over Nvidia's stock buyback and whether listeners expect more upside. An unusual story about an investor passing up dividends to avoid crossing an ownership disclosure threshold. Plus, the panel shares what it's watching heading into the next session.