Option Block 92: Werewolves Love SLVTrading Block: A sea of red in the market today - recession fears slam everything except treasuries. VIX cash gaps up yet again -- VIX futures outlook. Metals/Commodities rundown - everything down across the board, with gold down as well, but no rolling down will be taking place before the weekend. Ford below the $10 handle.Odd Block: Yahoo! - (YHOO) Following an upgrade at Stifel, Nicolaus from “Hold” to “Buy” with a price target of $18.00, shares are on the plus side this morning. The analyst stated “the likelihood of a buyout has increased to 80%.” Looks like some folks are betting on a buyout over the next few weeks. Bank of America - (BAC) Some large option players are “raising the white flag” in Bank of America Corp. (BAC) today with two large blocks of call options being sold on the bids and most likely closing out previous bullish positions. Perhaps most painful, someone dumped over 100k Jan 20 calls for $0.01! Covanta Holding Corp - (CVA) Stock has been hammered over the past few days. Someone thinks it’s overdone and bought a size bullish risk reversal. Range Resources Corp - (RRC) Looks like those upside specs on the 70 and 75 strikes could have paid off. Xpress Block: Tim Navabi runs down the daily goings on at OX. Today was a day for risk management. There's always a tomorrow in the market. The tools available on the OX are here to the rescue. Strategy Block: Mike Tosaw discusses his profound belief that we will get through our current financial situation. But you need some type of plan in place for down days like today. Around The Block: A lot of concern going into the weekend. Another good time to have some units in you back pocket. VIX option implied volatility exploded today, selling premium does not make sense. Has the bleeding stopped at Netflix for now? If you're thinking of playing in inverse ETFs or options on the ETFs, the margin requirements are tighter on the inverse ETFs. Apple held onto 400 today - a flight to safety.