Trading Block: A mild market rally today. VIX cash back below the 14-handle. TSLA recovering from some recent losses; was up over 2% at mid-day. Yellen says Fed might hike interest rates relatively soon. Jobless claims in U.S. declined to lowest level in four decades.

Odd Block: Size calls trade in Financial Select SPDR (XLF), calls trade in Advanced Micro Devices (AMD) and puts trade in Freeport Mc MoRan Inc. (FCX).

Strategy Block: Uncle Mike discusses trading in IBB

Mail Block: Listener questions and comments

• Question from Mike The Bookie - Yeah, the ETF based volatility indexes. Is here a good place to bracket UVXY or VXX?
• Question from Ian Wagner ‏- Why trade volatility vs direction or income? Preference? More favorable risk/reward profile.

Around the Block/Earning Highlights this Week:

• Friday - Foot Locker, Abercrombie & Fitch