Option Block 318: The Putin Puts

Trading Block: Putin’s show of force in Crimea spooks the street. VIX cash sails back above the 16 handle. Ukraine and Nat Gas craziness. Alex has a story: Trading firm Jump Trading LLC gives $25 million to medical research project.

Odd Block: Puts sellers trade in Market Vectors Russia ETF (RSX), calls trade in The Fresh Market Inc. (TFM), cpreads trade in EXACT Sciences Corp. (EXAS), and put buyers trade in JC Penney (JCP)

Xpress Block: The dominate trading at OX today was in metals, crude oil, and nat gas - coffee hit a record high.

Strategy Block: Tosaw reaches out to all the eternal bulls, such as himself

Around the Block: What will Putin do? Is Argentina on the back burner for now? Goldman’s big analyst meeting is tomorrow (3/4). Jobless claims on Thursday, and non-farms on Friday.