Volatility Review: A look back at the week from a volatility perspective.

• VVIX - 95
• Earnings volatility: The season is winding down - except for Dollar General

Russells Weekly Rundown:

• VIX Options: A fairly strong volume week. Total 7.49m (5.54m calls, 1.95m puts). VIX faces challenge from trading robots unleashed by bats
• Crude Oil: OIV/OVX - 52. WTI skew chart
• Gold: GVZ 23.36 - Elevated

Volatility Voicemail: Listener questions and comments

• Comment from Chic9 - Selling puts = blowout!
• Question from Nic s. - Why was there such an emphasis on selling puts at RMC? Is that not an old strategy?
• Question from JV - Can you explain the free cash flow yield theory and why it would help improve strike selection for selling puts?
• Question from Labeach2 - Ratio verticals work in VIX what about SPX and SPY - sell 1 ATM buy 2 OTM to hedge and spec. No studies on that? Seems better than just blasting away ATM puts?
• Question from JPeach - I really enjoyed the wrap up episode from the CBOE conference. I thought the discussion about the pension fund manager panel was particularly interesting. Two questions: 1. What percentage of pension funds out there use options in some capacity? 2. Is CBOE going to make that panel available to the public?

Crystal Ball: Where will the VIX close on Friday?

• Russell - Above 25
• Mark S. - Low 20s
• Marl L. - 23