Hosts Nick and Tony conducted an intense What's Your Assumption session navigating extreme intraday volatility, with Nick executing multiple successful futures scalps while managing existing positions. The Google trade featured 350-365 March call ratio for 52-cent credit providing 16-17 short deltas with no downside risk, chosen over viewer Mike's Feb strangle suggestion due to Nick's existing upside butterfly coverage. The Hood diagonal added to underwater March 95 puts (now $15 in-the-money with 25% touch probability) using April 85/Feb 95 structure minimizing additional risk. The CL iron condor from Jack in Philly got upgraded from USO due to capital efficiency, using 1.5-point wide wings (75-76.5, 55.5-57) for better span margin versus USO's wider requirements. Multiple passes included Alcoa 50-75 strangle (poor markets despite high IV), ARM earnings play (Nick fearful after AMD's move, only doing small $2.60 diagonal), EWY Korea ETF (100 IVR skewed by wide dollar-wide strikes), and Snap (Nick simply bought stock at $5.93 "destined for zero"). The session featured Nick closing multiple profitable scalps including SPX zero-day at 70-75 cents after 10-point rally moved spread 50-60 cents, plus full MES and NASDAQ positions as markets reversed.

Hosts Nick and Tony conducted an intense What's Your Assumption session navigating extreme intraday volatility, with Nick executing multiple successful futures scalps while managing existing positions. The Google trade featured 350-365 March call ratio for 52-cent credit providing 16-17 short deltas with no downside risk, chosen over viewer Mike's Feb strangle suggestion due to Nick's existing upside butterfly coverage. The Hood diagonal added to underwater March 95 puts (now $15 in-the-money with 25% touch probability) using April 85/Feb 95 structure minimizing additional risk. The CL iron condor from Jack in Philly got upgraded from USO due to capital efficiency, using 1.5-point wide wings (75-76.5, 55.5-57) for better span margin versus USO's wider requirements. Multiple passes included Alcoa 50-75 strangle (poor markets despite high IV), ARM earnings play (Nick fearful after AMD's move, only doing small $2.60 diagonal), EWY Korea ETF (100 IVR skewed by wide dollar-wide strikes), and Snap (Nick simply bought stock at $5.93 "destined for zero"). The session featured Nick closing multiple profitable scalps including SPX zero-day at 70-75 cents after 10-point rally moved spread 50-60 cents, plus full MES and NASDAQ positions as markets reversed.