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| TIME (ET) | REPORT | PERIOD | FORECAST | PREVIOUS | | TUESDAY, MAY 30 | | 8:30 AM | Personal income | April | 0.40% | 0.20% | | 8:30 AM | Consumer spending | April | 0.40% | 0.00% | | 8:30 AM | Core inflation | April | 0.10% | -0.10% | | 9:00 AM | Case-Shiller U.S home prices | March | -- | 5.80% | | 10:00 AM | Consumer confidence index | May | 118.6 | 120.3 | | WEDNESDAY, MAY 31 | | 9:45 AM | Chicago PMI | May | -- | 58.3 | | 10:00 AM | Pending home sales index | April | -- | -0.80% | | 2:00 PM | Beige book |  |  |  | | THURSDAY, JUNE 1 | | 8:15 AM | ADP employment report | May | -- | 177,000 | | 8:30 AM | Weekly jobless claims | 27-May | 238,000 | 234,000 | | 9:45 AM | Markit manufacturing PMI (final) | May | -- | 52.5 | | 10:00 AM | ISM manufacturing index | May | 55.00% | 54.80% | | 10:00 AM | Construction spending | April | 0.50% | -0.20% | | TBA | Motor vehicle sales | May | 16.9mln | 16.9mln | | FRIDAY, JUNE 2 | | 8:30 AM | Nonfarm payrolls | May | 185,000 | 211,000 | | 8:30 AM | Unemployment rate | May | 4.40% | 4.40% | | 8:30 AM | Average hourly earnings | May | -0.30% | 0.30% | | 8:30 AM | Trade deficit | April | -$46.5bln | -$43.7bln |
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 Options Insider Radio Network Episodes you may have missed from Options Insider Radio last week
Option Block 623: How to Sell Premium with a Low VIX Posted May 26th, 2017 Trading Block: A Retail Resurgence: Best Buy (BBY) - close $50.42, ATM straddle $4, approx. 8%. Earnings: Amazon, ULTA, Costco, GameStop. Odd Block: Call spread buying in Southwestern Energy Corporation (SWN), calls buying in Macerish Co (MAC), puts and stock buying in Omega Healthcare Investors (OHI) Strategy Block: Mike discusses what you can do to sell premium in this market environment. Mail Block: Options Question of the Week: $VIX =11.20. $VIX June Future = 12.40 $VIX Weekly 11 puts = $.15, Weekly 13 Calls = $.15. What's your trade? - Buy 13 Call for $.15
- Buy 11 Put for $.15
- Sell 13 Call for $.15
- Sell 11 Put for $.15
Listener Comment: - Comment from Production One - VR would excite the young to trade options! Not old fat guys for sure! MarketWatch: Who trades options the most? Millennial investors Industry should be OK going forward.
Around the Block/This Week in the Market: - A shortened week due to Memorial Day
 Options Insider Radio Interviews: Talking Data, Alpha and More with Wall Street Horizon Posted May 25th, 2017 Recorded live at the 2017 Options Industry Conference, Mark is joined by Barry Star, CEO at Wall Street Horizon They discuss: - Barry's background in options
- What is Wall Street Horizon?
- Who uses Wall Street Horizon?
- Finding alpha in moving earnings dates
- The types of volatility related to the timing of earnings releases
- How do they get it so right?
- The impact of social media
- Don't trade on bad data
- What are the Wall Street Horizon price points?
- Which brokers do they work with?
 Options Insider Radio Interviews: Talking Volume, Market Making and Auctions with MIAX Posted May 25th, 2017 Recorded live at the 2017 Options Industry Conference, Mark is joined by Shelly Brown, Executive Vice President of Business Strategy at the Miami Options Exchange. They discuss: - Rolling out the second exchange for the group
- How are the early numbers on Pearl?
- Playing with fees and managing flow
- What are the points of differentiation for the MIAX exchange group?
- What can the marketplace do to spur volume?
- Should the minis make a comeback?
- The need for public education
- How to incent market makers to come back to the fold?
- The concentration of liquidity in just a few names
- Predatory traders taking over flow
- Auctions: pro or con?
 Options Insider Radio Interviews: Talking Fragmentation, Market Quality and More with Dash Posted May 25th, 2017 Recorded live (to tape) at the 2017 Options Industry Conference, Mark is joined by Peter Maragos, Co-Founder and CEO of Dash Financial Technologies. They discuss: - His background in the financial space
- What does Dash do?
- Joining forces with Liquidpoint
- Having all the right solutions
- Will trading floors come back?
- The shrinking pool of liquidity providers
- Modernizing the markets
- Where is the incremental value in multiple exchanges?
- Reaching out to new customers
- Huge volume in fewer names
 Options Playbook 159: Back Spread with Calls in AMD Posted May 25th, 2017 Today, we will explore back spread with calls in AMD (page 84). This is always available on OptionsPlaybook.com, or on the Amazon Kindle edition. In this episode, Brian covers: - What are the benefits and risks of the back spread with calls?
- What has happened since we put the trade on?
- Setting up the trade.
- What is the maximum risk? Reward?
- What is the ideal scenario?
 Options Insider Radio Interviews: Talking Mergers, Millennials, and Mobile with TD Ameritrade Posted May 24th, 2017 Recorded live (to tape) at the 2017 Options Industry Conference, Mark is joined by JJ Kinahan, Chief Market Strategist at TD Ameritrade. They discuss: - The merger with Scottrade
- Where did the volume go?
- Is there a tax put under the market?
- Is the VIX working?
- Getting millennials into options
- Maximizing the mobile experience
- What can we do with stocks that are too expensive?
 Options Insider Radio Interviews: Talking Data, Clouds and Costs with Vela Posted May 24th, 2017 Recorded live (to tape) at the 2017 Options Industry Conference, Mark is joined by Jen Nayar, CEO of Vela Trading Technologies. They discuss: - Her history in the trading technology space
- What does Vela do?
- What is Vela doing to make market data accessible?
- The trend of bespoke data
- Keeping one eye on potential competitors
- The myriad reasons for the slow adoption of cloud-based platforms
- Enhanced data feeds
- What are conference highlights?
- The proliferation of exchanges
 Option Block 622: Selling Crazy Penny Calls Posted May 23rd, 2017 Trading Block: Earnings highlights include Lowes (Wednesday), Best Buy, Costco, TD Ameritrade, GameStop (Thursday). Odd Block: Calls trade in Pandora Media Inc. (P), calls trade in Energy Transfer Equity LP (ETE) and calls trade in MGM Resorts Int. (MGM). Mail Block: Questions. Comments. More Options Question Of the Week: $VIX =11.20. $VIX June Future = 12.40 $VIX Weekly 11 puts = $.15, Weekly 13 Calls = $.15. What's your trade? - Buy 13 Call for $.15
- Buy 11 Put for $.15
- Sell 13 Call for $.15
- Sell 11 Put for $.15
Listener Questions: - Question from Game Daydog - Whoo Hooo !! I made the boot camp show!!! He's right.. I did take a bruise, but my position was good. The stock gapped thru my position. Is there an option strategy that offers the most gap-thru protection?
- Question from Jlers -Best broker for Iron Condors?
Around the Block/This Week in the Market: - May 23: New Home Sales
- May 24: Existing Home Sales, FOMC Minutes
- May 25: Jobless Claims, International Trade
- May 26: Durable Goods, GDP, Consumer Sentiment
 This Week in Futures Options 52; Get on the Crude Roller Coaster Posted May 23rd, 2017 Today, Mark and Nick are joined by Matt Bradbard, Director of Alternative Investments, RCM Alternatives. Topics this week include: Futures Options Feedback: Listener questions and comments - Question from Andy Sullivan - You guys buying this rally in WTI, or are the options telling a different story?
- Question from Jingles6 - Dudes! You're missing out on the hot new commodity trend, Cryptos rule everything around us! A $10,000 investment in Gold in July 2010 is now worth $9,981. A $10,000 investment in BitCoin is now worth $201,553!
 Volatility Views 255: The Myth of VIX 50-Cent Posted May 23rd, 2017 Volatility Review: A look back at the week from a volatility perspective VIX options: - ADV - 747K; Thurs - 806K; Weds - 1.34m; Tues - 1.06m; Mon - 533K
- VIX call/put: 3.1/1
Hot VIX strikes - 308315 .VIX Jun 21st 30.0 C, chg +4261
- 274854 .VIX Jun 21st 35.0 C, chg +521
- 261116 .VIX Jun 21st 20.0 C, chg +22016
- 256652 .VIX Jun 21st 15.0 C, chg +61381
- 207375 .VIX Jun 21st 19.0 C, chg +36896
- 182527 .VIX Jun 21st 16.0 C, chg +21143
- 165518 .VIX Jun 21st 25.0 C, chg -17814
- 161130 .VIX Jun 21st 18.0 C, chg +7305
- 153348 .VIX Jun 21st 17.0 C, chg +4539
- 139338 .VIX Jun 21st 11.5 P, chg +8819
- Total 6.77m (5.13m Calls, 1.64m Puts)
Earnings Volatility - GAP (GPS): $23.13; ATM straddle : $1.85 - approx. 8%
- BABA: close $120.72; ATM straddle approx. $6; approx. 5%; dropped as low as $114 - $6.72; close $121.35 - UP .5%
- WMT: close $75; ATM straddle $2.25; approx 3%; high $77.66
Volatility Voicemail: Listener questions and comments - Question from Vtrader168: Considering that there is large Vol jump Wednesday without major event, and the market recovery is not that strong, is it an indicator that the period of the extremely low VIX is over, and VIX return to "normal-low" level?
- Question from Volbug: Hi. This is for Volatility Views: Thanks for the show Marks and Russell. You mentioned that implied vol is often more than realized vol. Does the time frame of the option, impact that calculation? For example one monthly option is cheaper that four weekly options. Thanks.
Crystal Ball: Wild prognostication Last Week: - Mark L. - 10.25
- Russell - 11.25
- Henry - 9.90
This Week: - Mark L. - 10.75
- Mark S. - 11.05
- Russell - 12.26
 Options Insider Radio Interviews: Talking API vs. GUI, Complex Order Books and More with Flextrade Posted May 23rd, 2017 Recorded live at the 2017 Options Industry Conference, Mark is joined by Rob Brogan Vice President of Equity Derivative Services at Flextrade They discuss: - What's going on at Flextrade?
- What does Flextrade do, and who is their typical end-user?
- What are they doing to counteract the trend of liquidity providers leaving the industry?
- Optimal data presentation: API or no?
- Major trends: cloud, mobile, hosted solutions
- What are highlights from the conference?
- Complex order books and the communication gap
 Options Insider Radio Interviews: Talking Exchange Integration, Thinking Outside the Box, and Complex Order Books with CBOE Posted May 23rd, 2017 Recorded live at the 2017 Options Industry Conference, Mark is joined by Kapil Rathi, Senior Vice President of Options Business Development at CBOE. They discuss: - What is Kapil's role at CBOE since the merger?
- How will the four options exchanges fit together?
- Thinking outside of the box
- Is he pro or con on auctions?
- The pressure on liquidity providers
- Complex order books and getting them to communicate with each other
- Innovations coming from CBOE
 Options Insider Radio Interviews: Talking Backtesting, Liquidity and More with ORATS Posted May 22nd, 2017 Recorded live at the 2017 Options Industry Conference, Mark is joined by Matt Amberson, Principal and Founder of ORATS They discuss: - His history in the options industry
- Unique gamma scalping applications for each underlying
- Is there a secret sauce to options backtesting?
- Forward testing backtesting
- Creating your own signals
- Getting RIAs to use options in their portfolios
- Getting past the gatekeepers
- What are the biggest requests they receive for backtesting
- Ongoing concentration of liquidity in just a few names
- Does exchange fragmentation perpetuate the liquidity crisis?
- Auctions: pro or con?
 Advisors Option 55: The Truth about Options Backtesting Posted May 22nd, 2017 In this episode, Mark is joined by co-hosts: - Chris Hausman, Portfolio & Chief Technical Strategiest, Swan Global Investments
- Aash Vyas, Director of Portfolio Strategy and Overlays, Swan Global Investments
- Matt Amberson, Principal, Option Research & Technology Services.
Tricks of the Trade: Looking at Options Backtesting - What is it?
- Options vs. Stocks: Why is it so difficult to backtest options effectively?
- What are some common mistakes that are made when attempting to backtest options?
- Are some options strategies easier to backtest than others?
- How do you deal with assumptions when backtesting options?
- How can advisors use backtesting to test the efficacy of their options strategies?
The Buzz: A recap of the 2017 OIC Conference. Cerulli study says financial advisors who currently use options expect to increase use of options by 30% in three years. Office Hours: Options Question of the week This volatility implosion is starting to make people nervous. It's VIX limbo time: How Low Can It Go in 2017? Currently: - 38% - 9.0 is the Bottom
- 18% - No lower than 8.5
- 15% - Cannot get below 8.0
- 29% - <8 = Lookout Below!
Listener Questions: - Question from Aidan Chance - I heard you guys discussing the problem of lumping options funds and strats into the alts ghetto on the last show. I understand your complaints. What do you think would be a better category to gauge options performance?
- Question from Steve - With the VIX so low, I am not selling a lot of options anymore, because I'm afraid that I will not collect enough premium. Am I thinking of this incorrectly?
Talking Complex Order Books, Auctions and Market Makers with Nasdaq
Posted May 22nd, 2017 Recorded live at the 2017 Options Industry Conference, Mark is joined by Kevin Kennedy, Senior Vice President and Head of US Options at Nasdaq. They discuss: - Updates from the launch of the new PHLX trading floor
- Attracting more complex orders
- Will this spark a new floor revolution?
- How many exchanges are too many exchanges?
- The growing importance of complex order books
- Integrating the six exchanges together
- The trend towards passive investments
- Growing the pie
- Attracting new market participants
- Outreach efforts, especially with regard to education
- The concentration of liquidity in just a few names
- Leveraging the interest in ETFs into interest in ETF options
- The debate on auctions
- What can the industry do to safeguard market makers
Options Insider Radio Interviews: Talking the Market Data Landscape with the Multi Asset Solutions Group Posted May 22nd, 2017 Live (to tape) from the 2017 Options Industry Conference, Mark is joined by Cathy Clay, Global Head of Information Solutions at Multi Asset Solutions Group. They discuss: - What comprises the Multi Asset Solutions Group?
- The move from San Francisco to Chicago
- The CBOE/Bats integration
- What is on the radar for the Multi Asset Solutions Group?
- The upcoming release of the volatility data suite through the Data Shop
- What LiveVol Pro upgrades can users expect?
- The shift from Flash to HTML5
- The addition of futures to the platform
- What is the Data Shop and how is it being used?
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Where to Find Options Insider Radio? Do you know all the ways you can access Options Insider Radio                
Options Insider Radio Network Live Recordings
Do you want to be a part of the fun? This is when you can access the LIVE shows this week:
Thursday:
Option Block LIVE at 3pm Central
Friday:
Volatility Views LIVE at 12pm Central
This Week in Futures Options LIVE at 1:30 Central Â
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