VOLATILITY REVIEW

Trade war premium came and went.

SPIKES - 15.75, down 4.25-points from last show

VIX Cash - 15.5, 4-points lower than last week

VVIX - 95, 8-points lower than last show

VIX Options - ADV: 668k, Total 10.2m (7.42m Calls, 2.73m Puts)

VXX - 28, 2-points lower than last show

Earnings Highlights:

Thursday - Walmart, Nvidia, Pinterest

Friday - John Deere

VOLATILITY VOICEMAIL

Comment from J3Dingle - I saw on Bloomberg that one of the 20+ Democrats running for president owes UVXY in size in his portfolio. That alone should be a disqualifying factor.

Question from T Lima - Heard you guys hitting on 1x2 put spreads in vix. What about VXX? There are lots of juicy puts 1x2s lining up for small outlays and maybe even credits. I'm looking at Dec 28-23 1x2 that I can do for around $.45-$.65. There are similar spreads lining up across the term structure. Also - Do you have a preference to longer term or shorter term when trading 1x2 put spreads in these products?

CRYSTAL BALL

Next week:

MARK: 14.75

Andrew - 14.25

Dave - 16.00