The Option Block

AI stocks take a beating, energy rallies and the S&P 500's sideways grind has Uncle Mike channeling Rodney Dangerfield's Caddyshack stockbroker routine.

On this episode of The Option Block, Henry Schwartz of Cboe and Mike Tosaw of St. Charles Wealth Management join us to break down the technology selloff, options activity in Nvidia, Oracle, Micron and Tesla, and the strength in Apple and Palantir. They also examine VIX and VVIX, September options volume trends, and the growing role of ETF, index and FLEX options.

In the Odd Block, Henry investigates aggressive put buying in EquipmentShare (EQPT), an unusual customer-to-customer call cross in Erasca (ERAS), and complex call rolls in Hut 8 (HUT). Uncle Mike explains how diversification and covered calls are helping his portfolio navigate sharp differences between sectors and individual stocks.

Plus, the panel discusses Treasury yields, oil, geopolitical headline risk and SPX options positioning around the midterm elections—and why volatile markets demand discipline with trade sizing.

Unusual call activity lights up Pacific Biosciences and United Microelectronics as tech stocks climb and volatility retreats. Mark Longo, Andrew Giovinazzi and Mike Tosaw break down the options market, debate potential trillion-dollar IPO valuations and take a strange detour into secret Russian plague-lab headlines.

On this episode: • NVIDIA and Tesla battle for the top spot in single-stock options activity, with updates on Meta, Apple, AMD and other active names. • PACB's rally draws large December call trades. • Long-dated UMC calls raise questions about whether traders are buying upside or selling premium. • VIX and VVIX retreat as the panel weighs volatility calls, inexpensive puts and potential election risk. • Mike explains how covered call ladders can help investors gradually exit concentrated, appreciated stock positions while collecting premium. • The crew shares what they're watching next in Treasury yields, equities and volatility.

Stocks turn from red to green during the show, but the unusual options activity offers plenty of its own surprises. Mark Longo, Henry Schwartz of Cboe and Mike Tosaw of St. Charles Wealth Management break down the market reversal, VIX and VVIX, and the options trades catching their attention.

In the Odd Block, the panel digs into a sizable January call purchase in Fermi (FRMI) despite the stock's steep decline, speculative upside call buying in eToro (ETOR), and aggressive call sweeps in Uniti Group (UNIT).

They also explore:

• Heavy options activity in QQQ and IWM, plus the latest single-stock trading.

• Henry's takeaways from the Robinhood Summit, including extended options trading hours, automated trading and prediction markets.

• Mike's outlook for the S&P 500, Treasury yields and selling silver puts.

• The debate over Nvidia's stock buyback and whether listeners expect more upside.

• An unusual story about an investor passing up dividends to avoid crossing an ownership disclosure threshold.

Plus, the panel shares what it's watching heading into the next session.

Nvidia's stock buyback sparks a debate on The Option Block: is it a sensible use of cash, or a warning sign near the highs? Mark Longo, Andrew Giovinazzi and Mike Tosaw also discuss rising yields, the market's resilience and the busiest names on the options tape.

In the Odd Block, they examine unusual call activity in Alamos Gold ($AGI) and Aemetis ($AMTX). Then Mike walks through the adjustments he made to a Meta ($META) collar and explains how the position changed as the stock moved. Plus, a seven dwarves trivia question gives this episode its magical opening.

A sharp intraday reversal sends Mark Longo, Mike Tosaw, and Cboe's Henry Schwartz scrambling to keep up with the options tape. They discuss the swings in SPX, VIX, SPY, QQQ, and IWM, along with the pressure that rising interest rates and oil prices could put on stocks. Henry also brings back a curious idea from a Cboe quant conference: the "options manifold." Then, in the Odd Block, he digs into unusual call activity in Unity (U), Banco Bradesco (BBD), CCC Intelligent Solutions (CCC), and Papa John's (PZZA), including a trade that shows why a print at the bid may not tell the whole story.

A powerful tech rally sends META, AMD, Intel, Nvidia and other major names surging as Mark Longo, Mike Tosaw and Andrew Giovinazzi examine what is fueling the market's renewed enthusiasm for the AI trade.

The hosts break down heavy options volume in SPY, QQQ, IWM and VIX, including notable activity in VIX puts. They also analyze unusual options trades in MGM Resorts and Novo Nordisk before exploring how Mike managed a protective collar in META during the stock's dramatic rebound.

Plus, the panel discusses interest rates, bond-market sentiment, geopolitical risk and what traders should watch throughout the week.

A milestone episode calls for a little nostalgia, a little market chaos, and plenty of options talk.

On the 1500th episode of The Option Block, Mark Longo is joined by "Uncle" Mike Tosaw from The Option Block and Henry "The Flowmaster" Schwartz from Cboe to look back at the remarkable run of the show while breaking down the latest action across the options markets.

The crew discusses the market reaction following the latest Fed decision, strength in technology stocks, moves in VIX and volatility, and the options activity lighting up names including Nvidia, Tesla, AMD, Micron, Intel, Apple and more.

Then it's time to get weird in the Odd Block with unusual options activity in Ouster (OUST), 3D Systems (DDD) and Ginkgo Bioworks (DNA), along with a massive VIX options trade that catches the panel's attention.

Plus, the guys revisit memories from 1500 episodes of The Option Block, hear from longtime listeners who have been around since the iPod days, and discuss what they'll be watching next across equities, bonds, oil, volatility and the broader options markets.

It's a special 1500th trip Around the Block.

Cheap calls are on the menu as Mark Longo, Andrew "The Rock Lobster" Giovinazzi, and Mike "Uncle Mike" Tosaw dive into unusual options activity in Dave & Buster's (PLAY) and Banco Bradesco (BBD). Is somebody betting on a turnaround in PLAY ahead of earnings? And when it comes to these cheap stocks, are you better off buying the calls or just owning the shares?

The crew also breaks down a surprisingly resilient market as Treasury yields climb and traders brace for the Fed. Plus, they examine heavy VIX options activity and the latest options action in NVDA, AAPL, TSLA, META, GOOGL, INTC, MSFT, AMZN and MU.

Then Uncle Mike heads to the Strategy Block to explore using covered calls on bond ETFs like IEF to potentially generate additional income.

FLEX mysteries, cyber attacks and Romanian AI are lighting up the latest Option Block.

On this episode, Mark Longo is joined by Uncle Mike Tosaw and Cboe's Henry "The Flowmaster" Schwartz to break down the latest action across the options market. The crew digs into a mysterious burst of near-dated FLEX options activity in Canadian Natural Resources (CNQ), unusual call buying in Romanian AI software name UiPath (PATH), and a massive upside options trade in Boston Scientific (BSX) following its cyberattack woes.

Plus, we examine Apple's big move following its foldable iPhone news, unusual bullish AAPL options activity, rising volatility in VIX and VVIX, the latest action in SPX, IWM and QQQ, and what traders should be watching heading into inflation data and the next Fed meeting.

Forget nonfarms — the options market has plenty of other things to keep traders busy.

On this episode of The Option Block, Mark Longo, Uncle Mike Tosaw and Henry "The Flowmaster" Schwartz from Cboe break down a surprisingly strong market rally heading into the jobs report, the latest options volume trends, and some unusual activity lighting up the tape.

The crew digs into eye-catching options flow in biotech name Alumis (ALMS) and drone maker Draganfly (DPRO), including some intriguing call activity as both names attract attention. They also examine unusual action in Element Solutions (ESI).

Plus, we discuss the latest action in VIX, SPY, IWM and QQQ, a red-hot day for names including Robinhood, Palantir, Tesla and NVIDIA, the continued evolution of binary options and prediction markets, and whether unusually favorable options skew is creating opportunities for investors to hedge some high-flying stocks.