Volatility Review: Greek vol not amounting to much. Setbacks in Greek debt talks on Friday bringing a little vol back to the marketplace. Traders aggressively hitting volatility going into the weekend.

• VIX Cash: High of 15.74 on June 9. VIX trending lower throughout the week finally breaking the 13 handle on Thursday.
• VIX Options: Call love - a heavy volume week, averaging 500k contracts. A massive day on Wednesday - nearly 1.6M.
• Our 1X2 friend is back!
• Total 8.13m (6.48m Calls, 1.65m Puts)
• VIX Up/Down: Nascent VIX Up/Down ETF Could Face Hedging Pressures

Volatility Voicemail: Listener questions and comments

• Question from Nixy - Just found this hose on iTunes and liked the discussion about the new VIX ETPs. I am curious what you think of the CVol ETF product? Worth my time or more volatility detritus?
• Comment from Abstergo_US - Great discussion on VXX leap puts. After listening to your program, I pulled up the VXX options chain and pulled the trigger on the Jan 2017 12 puts for around $2 in my IRA. Fast forward a few weeks and these puts are already up well over 10%. Thanks again for the great tip. Seems like everyone should be loading up on these things.

Crystal Ball: Reckless prognostication.