Trading Block: That's right. We are up to 16 exchanges now. MIAX Options and MIAX PEARL options exchanges, today announced that it intends to launch MIAX Emerald as its third fully electronic options exchange in 2019.

Options Flash Poll: The proposed third exchange from MIAX exchange will raise the total number of U.S. Options Exchanges to 16. Is this a good thing for the options market? Is it the straw that finally breaks the camel's back? Or are you too busy getting great fills to care?

• More Exchanges the Better
• Please Make It Stop
• Don't Care: I get filled

Earnings:

• E-Trade - 58.50, ATM straddle ~ 2, approx. 3.5%
• Netflix (from Monday) - 307, ATM straddle ~ 28, approx. 9%

Odd Block: Well-times paper in VIX (VIX). Put love in Market Vectors Semiconductor ETF (SMH). Deep ITM calls in NXP Semiconductors NV (NXPI). Call spread in Alcoa Corp (AA).

Mail Block: Last week's options question of the week.

SPOT is the latest hot IPO to join the Options market. So many recent Options listings started off hot then suddenly cooled so we have to ask - which hot recent IPO will you be slinging Options on in 2019?

• 38% - SPOT
• 16% - DBX
• 41% - SNAP
• 5% - Other

This week's options question of the week:

VIX is back in the mid-teens. Are you buying this Volatility reprieve or is this merely calm before the storm? Quite simply - Where do you think VIX will end the week?

• Here: 16-18
• Higher: 18-20
• Even Higher: 20-25
• Lower: 14-16

Listener questions and comments:

• Comment from J3dingle -Mark, do you realize this is what almost won your Broker Madness tournament?
• Question from Dhasone Riley -I have a general question because I'm struggling with hedges. Do most people buying calls or put options as hedges, hedge in, at or out the money?

Around the Block: ETrade rallied a bit after earnings, but still a meh. The more exchanges the better? Silver is moving again. Will the maket move back above 2700? Sebas is more bullish than Tosaw.