Volatility Views

Volatility finally showed signs of life this week—but as traders have come to expect, the spike didn't last.

On this episode of Volatility Views, Mark Longo is joined by Dr. Russell Rhoads to dissect another unusual week in the volatility markets. The hosts examine why VIX briefly pushed toward 20 before quickly retreating, despite geopolitical tensions, AI spending concerns, and a sharp selloff in technology stocks.

They also break down the latest VIX futures term structure, analyze the week's most intriguing VIX options trades, discuss whether markets are underpricing geopolitical risk, and explain why Microsoft's upcoming earnings could be one of the biggest volatility events of the summer.

• Why VIX couldn't sustain its move toward 20
• AI spending concerns from Google and Tesla shake the market
• What the VIX futures curve is signaling
• Dr. Russell Rhoads' Weekly Rundown of unusual VIX options trades
• Is the market ignoring geopolitical risk?
• Why Microsoft earnings could be the next major volatility catalyst
• Crystal Ball predictions for next week's VIX

In this episode of Volatility Views, host Mark Longo is joined by "Muscle" Rhoads (Dr. Russell Rhoads), Mark Sebastian from Option Pit, and the long-awaited return of the Thompson Twins (Matt and Mike Thompson of Thompson Capital). Together, the crew unpacks a wild week of violent market rotations, earnings season anxieties, and the localized panic ripping through semiconductor and AI stocks.

The team takes a deep dive into the vol surface to analyze why the equal-weighted VIX EQ is surging past 50 while index-level vol remains relatively contained. Are we looking at a localized tech overreaction, or the brink of a massive correlation-one sell-off? Plus, they break down a bizarre, head-scratching 100-strike VIX put trade, structural "mullet" vs. "tulum" strategies, and the latest reverse splits shaking up the vol ETP space (SVIX, UVXY, and UVIX).

What's inside this episode:

• The Volatility Review: Deconstructing the Taiwan Semi fallout, Nvidia's wild swings, and how money is rotating between tech hyperscalers and broader indices.

• The New VIX Order: Why geopolitical and event-driven vol spikes are mean-reverting faster than ever in the modern market ecosystem.

• Term Structure & Haircuts: Moving long and short on the curve—the team explains why they are leaning into the traditional "mullet" style.

• VIX Options Flow: Breaking down the massive volume behind the August 26 calls, the shift toward the 17 puts, and another round of mocking high-risk, low-reward institutional trades.

• ETP & Levered Vol Update: Dealing with the liquidity drain post-reverse splits in UVXY and UVIX, and why tracking seasonality matters right now.

• The Crystal Ball: The guys put their reputations on the line with their weekly VIX and Volley predictions for next week.

In this episode, Mark Longo, Russell Rhoads (Dr. VIX), and Scott Nations dive deep into a massive divergence brewing under the surface of the equity indexes. While S&P 500 volatility is sitting quietly at seasonal lows, Nasdaq 100 volatility tells a completely different story as tech and AI anticipation ramps up ahead of Microsoft's pivotal earnings report.

Key Topics Covered:

• The Volatility Review: Breaking down a massive two-week crush that dragged VIX cash down nearly 4 points, alongside drops in VOLY and the VVIX.

• The Nasdaq vs. S&P Divergence: Scott explains how VolDex measures show completely different volatility regimes for tech vs. broad market index options.

• The Tech "Canary": Why Russell has Microsoft's upcoming July 29th year-end earnings report circled as the ultimate reality check for the AI boom.

• VIX Futures & The Return of Volume: June options volume just put up a historic 1.6 billion contracts. Why are traders suddenly piling back into VIX futures?

• The "Dark Web" of Vol Trades: Analyzing a bizarre, deep-in-the-money August put spread and a massive November VIX call strip paired with a 1x6 put ratio spread.

• Crystal Ball: Predictions for where VIX and VOLI land by next week.

The vol market might be caught in a midsummer lull between truncated holiday weeks, but underneath the surface, there is plenty of drama to slice and dice. In this episode, host Mark Longo welcomes back "Dr. Vix" Russell Rhoads (Indiana University) and Bill Luby (Luby Assessment Management) to dissect a market that seems to be trapped in an anticipatory holding pattern.

The guys dive deep into:

• The Volatility Review: A look at a celebratory but hair-trigger market as VIX cash flirts with the 19 handle.

• The Geopolitical Risk Horizon: Why the market chose to look right past recent Middle East turmoil and what a sub-$70 crude environment means for tech and macro hedging.

• The AI CapEx Arms Race: Tech earnings showdowns, Micron's blockbuster numbers, and why Microsoft's upcoming year-end earnings report could be the ultimate summer volatility catalyst. "Someone has to flinch" on tech spending—who will it be?

• Deep-in-the-Money VIX Puts: Analyzing the massive rise in ultra-deep VIX put spreads. Is it a smart margin play, or just a fun deployment of "entertainment capital"?

• Russell's Weekly Rundown: Breaking down the wild weekly options flows, short call spread ouchies, and drawing lines in the sand at the 17 and 19 strikes.

• Crystal Ball: The crew looks ahead past the America 250 holiday to make their two-week volatility predictions.

A truly wild week in the markets culminated in the historic SpaceX IPO, sending shockwaves through the trading landscape. In this episode, host Mark Longo is joined by special guest Henry Schwartz (The Flow Master, Cboe) and Mark Sebastian (OptionPit) to break down a massive week of intraday swings and shifting volatility structures.

The panel dives deep into the market mechanics behind the $75B SpaceX debut, exploring its staggering $2.2 trillion valuation, retail distribution frenzy, and what to expect when SpaceX options officially launch next Tuesday. Will implied volatility open 20–25% too rich? Could risk reversals yield massive credits for long holders?

Plus, they analyze the macro picture: a potential Middle East peace deal, plummeting oil prices, shifting bond allocations, and why VIX cash flirted with a 22 handle before settling back down. The episode wraps up with a breakdown of VIX options flow (including heavy action on the June 18 puts) and a highly contested two-week Crystal Ball prediction that sees the panel split by over six points.

After months of warning that volatility was being ignored, Dr. VIX finally gets a little revenge.

With the Nasdaq suffering its worst selloff of the year, VIX surging back toward the 20 handle, and volatility returning to the market, Mark Longo and Russell Rhoads break down what sparked the move and whether this is just another dip-buying opportunity or the beginning of a larger shift in sentiment.

The hosts explore the impact of stronger-than-expected jobs data, shifting interest rate expectations, rising concerns about massive AI infrastructure spending, and why companies may soon have less cash available for stock buybacks. They also examine what these developments could mean for equity valuations and volatility traders heading into the summer months.

In this episode:

• VIX surges toward the 20 level
• Nasdaq suffers its worst decline of the year
• Is the AI spending boom becoming a problem?
• Why buybacks may be slowing down
• VIX futures and volatility term structure analysis
• Unusual activity in VIX options
• UVIX, UVXY and VXX trading activity
• Russell's Weekly Rundown
• Crystal Ball predictions for next week

Is this finally the comeback Dr. VIX has been waiting for, or will the bulls once again ride to the rescue?

Volatility continued its retreat this week as equities marched higher and the VIX flirted with the 15 handle. On this episode, Mark Longo, Russell Rhoads, and Mark Sebastian break down the latest volatility landscape, including unusual VIX weekly trades, the ongoing debate around SVIX options liquidity, heavy put buying in semiconductor ETFs, Robinhood's AI-fueled rally, and what changing day-trading rules could mean for options volume. The crew also examines VIX term structure, volatility ETP opportunities, and whether a billion-contract options week is closer than many traders think. Plus, another round of Russell's Weekly Rundown and the Crystal Ball.

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The markets keep rallying, volatility keeps fading, and traders keep asking the same question: what could possibly go wrong?

This week on Volatility Views, Mark Longo, Russell Rhoads (Dr. VIX), and Jim Carroll of Ballast Rock Private Wealth dive into the "don't worry, be happy" market regime, VIX refusing to break higher, massive VIX weekly call activity, surprising market resilience in the face of geopolitical risk, and whether traders are underpricing uncertainty.

Plus: • The rise of "Sexy Volatility" (VSXY) • Urban legends, Bobby McFerrin, and market complacency • Historic VIX weekly options activity • Spot-up / vol-up behavior • SVIX vs UVIX performance • Crystal Ball forecasts and more

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Summer has officially arrived in the vol markets. In this episode, Mark Longo and Russell Rhoads break down a week where the markets seemed to ignore everything from Middle East conflict to hot inflation numbers—until a Friday sell-off finally brought a splash of red to the screen.

The guys dive deep into the curious case of the "Unchanged Universe," where SVIX, UVIX, and VXX are sitting almost exactly where they were a week ago. Is this the start of a long, quiet "Volatility Summer," or is the market underestimating the impact of a new Fed regime?

Inside This Episode:

• The Volatility Review: A look at the VIX cash spike to 18.50 and the rare "smile" skew appearing in the NASDAQ and Russell 2000.

• China Sojourns & Tech Skew: Was there front-running ahead of the tech CEO trip to China?

• VIX Option Flow: Analyzing massive positions in the June 65 calls and an intriguing August 1x2 ratio spread.

• The "Unched" Report: Why SVIX and UVIX haven't moved in two weeks and what that means for your overriding strategies.

• Crystal Ball: Mark and Russell place their bets on where vol heads as we approach the Memorial Day holiday.

In this episode of Volatility Views, host Mark Longo checks in from the road at the Options Industry Conference (OIC) to break down a week of relentless market rallies and "upside crashes." Joining the show is Hans Albrecht from Option Pit, who steps into the hot seat to discuss why volatility isn't dropping despite the S&P 500 blowing past 7,300.

The duo explores the shifting market structure—from the rise of 0DTE (Zero Days to Expiration) options to the looming world of 24-hour options trading and AI-powered brokers. Plus, a look at the "Evil Hans" trope in fiction and why giving yourself "time to be wrong before you're right" is the ultimate trading edge.

• The OIC Briefing: Predictions for 18 billion contracts in 2024 and the legal battle over "trades vs. bets" in prediction markets.

• The Upside Crash: Why the VIX is staying bid even as markets hit all-time highs—and the parabolic moves in names like Micron.

• Market Structure Shifts: The impact of CTAs, vol-targeting funds, and leveraged ETFs on daily closing imbalances.

• Volatility Term Structure: A deep dive into the contango/slope and why the October "midterm" futures are worth watching.

• VIX Options Flow: Analyzing the massive activity in June 65 calls and the unwinding of May upside verticals.

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