Option Block 212: Sweep the Leg, Johnny

Trading Block: There was a broad rally across the street, but VIX cash languishing yet again. Alcoa earnings send out a resounding "meh," with the stock essentially unchanged. It’s a premium sellers dream. BATS executes hundreds of thousands of transactions outside NBBO. CBOE rebranding: "Execute Success." Are you sure about that?

Odd Block: Calls trading in Microsoft Corp. (MSFT), Applied Materials Inc. (AMAT) calls trade, large blocks of opening calls trade on Deckers Outdoor Corp. (DECK), and interesting call trading in GT Solar International Inc. (GTAT).

Xpress Block: The Idea Hub feature "Walk Limit" has reached version 2 on the OX platform. Now it’s fully customizable!

Strategy Block: Harvesting credit spreads using multiple weeklies with Uncle Mike.

Around the Block: Interesting earning on the horizon: CITI, BAC, and INTC all on 1/17. GS on 1/16 before the bell.