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

• VIX Cash: 12.3
• VVIX: 91
• VIX Futures are about 2.5 handle premium between cash & Jan futures.
• VIX Options: 845K contracts on Tuesday lighter volume the rest of the week. Total 7.79m (5.49m Calls, 2.30m Puts)
• Oil: Crude Vol continues to be crushed with OIV/OVX at 30.

Volatility Voicemail: Question and answer time

#QuestionOfTheWeek: Financial advisors represent the last options frontier. What level of options knowledge do you expect from your advisor?

• None - I'll do it myself
• Level 1: Buy Puts/Calls
• Level 2: Income & Vol
• Level 3:Option Specialist
• Question from Hitman - Is the crab priced in yet? What about black swan events? Any options indicators shooing one of those may be on the horizon?
• Question from Vegan - You mention the Fed with regards to equities. Should the Fed really care about what the market is doing?

Crystal Ball: In which the hosts guess the close of next week's VIX

Last Week:

• Mark L. - 12.25
• Mark S. - 11.5
• Russell - 13.5

This Week:

• Mark L. - 11.75
• Andrew - 12.55
• Russell - 13