In this episode of This Week in Futures Options, Mark Longo dives into a wild week of trading dominated by headlines surrounding the Iran conflict. From massive moves in WTI Crude to a fascinating rotation in the Russell 2000, we break down the movers and shakers lighting up the tape at CME Group.

In this episode, we cover:

• The Movers & Shakers: Why WTI Crude Oil topped the list with an 18% move while Natural Gas continued its slide to the "dark side."

• Safe Havens vs. Risk Assets: A look at Gold, Silver, and Platinum's performance during geopolitical uncertainty.

• Equities & Small Caps: A deep dive into the Russell 2000 (RTY), exploring the 2300 put spreads and why puts dominated the tape despite a late-week rally.

• Volatility & Skew: Analyzing the 7-point drop in small-cap volatility and how skew is shifting in the April contracts.

Whether you're a veteran trader or a newcomer, tune in for the data-driven insights you need to navigate today's volatile futures options marketplace.

This episode is brought to you by CME Group.

Volatility is back with a vengeance! In this episode of This Week in Futures Options, host Mark Longo and Carley Garner (DeCarley Trading) break down a "blood red" Thursday as equity indices struggle to hold their gains and the energy complex reaches a boiling point.

From the "Queen of Crude" to the "Widow Maker," we dive deep into the massive volatility shifts hitting the CME Group markets. Is the stock market repeating last year's April pattern? Why is gold behaving like a risk asset instead of a safe haven? And what on earth is the "Oats Knows" indicator telling us about the grains?

On the Dossier:

• Movers & Shakers: A 60/40 bias toward the dark side, led by a massive drop in Oats and Silver.

• Equities: Analyzing the "orderly" sell-off in the S&P and Nasdaq—and why the elevated VIX has us nervous about hidden leverage.

• Energy: WTI crude enters triple-digit volatility. Carley explains why "it all ends in tears" and offers a clever way to play the energy trade through the Japanese Yen.

• Metals: Gold breaks its traditional playbook. We look at the 4,100 "line in the sand" and why silver speculators have officially left the building.

• Agricultural: A flip in corn skew and how to use the grains to play the war without the "triple-digit" volatility of crude oil.

In this episode, Mark Longo and Dan Gramza dive deep into the massive dislocations hitting the futures and options markets as Middle East tensions escalate. While WTI remains surprisingly range-bound, the Brent spread has widened to levels not seen in over a decade. Why isn't gold acting as a safe haven, and what is the "put bomb" currently dropping in the S&P 500?

In this episode, we cover:

• Movers & Shakers: Heating Oil and Lumber lead the bulls, while Silver and Platinum take a massive hit.

• Energy: The 11-year high in the Brent/WTI spread, the impact of the Strait of Hormuz, and a look at the massive 1x3 vertical calls in Brent.

• Equities: Why the S&P 500 remains "orderly" despite the volatility, and a look at the heavy 6500 put activity.

• Metals: The missing "flight to quality"—why Gold is selling off during a geopolitical crisis and what the 35+ vol means for traders.

• Nat Gas: Assessing the damage to global LNG facilities and the neutral zone between $2.90 and $3.30.

This week, we aren't just talking about movers—we're witnessing a historic disruption in the energy markets.

We dive deep into the explosive price action and triple-digit volatility in WTI Crude Oil, where mining in the Straits of Hormuz and tanker attacks have sent WTI and Brent soaring. Is the "par" level the new floor? We break down the massive volume in May 95 calls and the 120-strike volatility crush.

In this episode, we cover:

• Movers & Shakers: Why the light side is dominating with double-digit gains in Energy and Platinum, while Financials lead the slide to the dark side.

• Equities: A "banger week" for the E-mini S&P 500. We analyze the massive 23% bid in put skew and the 6500/6400/6300 put fly lighting up the tape.

• Small Caps: Is the rotation dead? We look at the spike in Russell 2000 volume as it flirts with negative territory for the year.

• Energy Deep Dive: A "ridiculous" amount of volume in Crude. We look at the 95/Par vertical and what December 120 calls tell us about the geopolitical outlook.

Don't miss this breakdown of the volatility swings, skew changes, and hot trades at CME Group.

The markets are anything but calm this week. Join host Mark Longo and special guest Erik Norland, Chief Economist at CME Group, as they break down a historic surge in volatility across every major asset class. From geopolitical tensions driving double-digit moves in crude oil to the "incoherent" signals between gold and treasury yields, we dive deep into the data you need to navigate this changing landscape.

On this episode, we discuss:

• Energy: WTI Crude's 21%+ surge—is the market pricing in a long-term Middle East disruption, or is the move surprisingly muted?

• Metals: Why Gold and Silver are decoupling from the "flight to quality" narrative and what the 6,000 strike in Gold tells us about long-term sentiment.

• Crypto: The "Digital Gold" debate—Erik explains why the correlation between Bitcoin and Gold remains near zero despite the recent volatility.

• Rates & Credit Spreads: A look at the massive volume in 10-year notes and why narrowing credit spreads might be ignoring brewing risks in private credit.

• Equities: The rotation from large-caps to small-caps—is the Russell 2000 rally overdone, or is there more room to run?

On this episode of This Week in Futures Options, Mark Longo and Carley Garner of DeCarley Trading dive into a turbulent week across the CME Group complex. From the post-Nvidia "bloodletting" in the equities to the persistent volatility in the energy pits, they break down the moves that matter.

In This Episode:

• The Movers & Shakers: A heavy tilt toward the "light side" with metals dominating the leaderboard. Why silver and platinum are lighting up the tape while the "Widowmaker" Nat Gas slides.

• Equities: Analyzing the post-earnings Nvidia hangover. Is the market rotation finally here, and what's behind the massive hunt for yield in the Nasdaq?

• Energy: Getting "Crude" with WTI. Carley explains why the Middle East tension is priced in, but the real story might be coming from Venezuela. Plus, a look at those tempting (and cheap) downside puts.

• Metals: Why speculators are suddenly "getting base" with Copper. Is Copper the next big meme trade, or is it just a classic boom-and-bust cycle?

In this action-packed episode, Mark Longo and Scott Bauer of Prosper Trading Academy dissect a market where standard playbooks are being thrown out the window. From "meme-style" moves in Silver to heavy hedging in the S&P 500, we break down the institutional flow and retail frenzy.

• The Equity Craze: Why everyone has put spreads on the brain. We analyze the heavy volume in the E-mini S&P 500 March 6600/6500 vertical and the "frothy" volatility return to the Russell 2000.

• Energy Inflection: WTI Crude is at a crossroads. We discuss the $5-$10 move potential based on geopolitical headlines and the "Grand Slam" reversal in Natural Gas.

• Meme Stock Metals: Triple-digit volatility in Silver has transformed it into a meme-trader's paradise. Are the April 125 calls a total YOLO, or is there method to the madness?

Is the early 2024 equity rally finally facing a reality check? Join Mark Longo and Kevin Green, Senior Markets Correspondent at Schwab Network, as they break down a wild week in the futures options markets. From "rotation trades" in the indices to the aftermath of a "Black Friday" in silver, we cover the moves that matter.

In this episode, we dive into:

• Equities: Is the recent pullback a healthy correction or the start of something deeper? We analyze the massive 0DTE flow in the E-mini S&P 500 and a curious 22-day downside hedge in the 6,500 puts. Plus, a look at the carnage in small caps and concerning trends in commercial real estate.

• Metals: We recap the "blow-off top" in Silver. With implied volatility hitting near triple digits, is the stampede over, or are traders just reloading for the next run? Kevin shares his boots-on-the-ground experience from the physical silver market.

• Agriculture: Soybeans are back on the menu! We explore the spike in July soybean calls and how South American production targets are shifting the narrative for 2026.

This episode of This Week in Futures Options (TWIFO) captures a high-stakes, "all-red" day across the global markets. Host Mark Longo and veteran analyst Dan Gramza break down a massive sell-off hitting everything from equities and crypto to metals, providing actionable insights into whether this is a "big adios" or a buying opportunity.

Episode Overview: The "Big Adios" Sell-Off

The markets are seeing a sea of red as equities, metals, and crypto face intense selling pressure. Mark and Dan navigate the wreckage to find where the volatility is exploding and where the smart money is positioning itself amidst the carnage.

Key Highlights from the Show:

• Metals Meltdown: A deep dive into the "Silver Madness." With Silver down over 34% this week, the team discusses triple-digit volatility levels and whether the market has finally reached a "double bottom" or if there's more pain to come.

• Equities Rotation: Is the AI trade finally over? Analysis of the aggressive unwind in the S&P 500 and the rotation into small caps (Russell 2000), including the impact of the newly launched zero-day (0DTE) options on major individual components like Tesla and Nvidia.

• Crypto Carnage: Bitcoin takes a 22% hit since Monday. Dan explores the correlation between the NASDAQ and Bitcoin, identifying the $60,000 level as the next crucial psychological floor.

• Movers & Shakers: A breakdown of the rare "Light Side" winners (Milk and Soybeans) versus the "Dark Side" losers (Silver, Bitcoin, and Natural Gas).

• Energy & Ags: Why the geopolitical tension between the US and Iran is the "X-factor" for Crude Oil and why Natural Gas continues its downward slide despite cold temperatures.

Inside the Options Flow:

• S&P 500 (ES): Analysis of a massive 30,000-contract put spread trade (6,600/6,650) and what it signals for market sentiment over the next 15 days.

• Silver (SI): High-volume activity in the March 70 puts and the surprising demand for "lottery ticket" March par (100) calls.

• Bitcoin (BTC): Institutional vs. Retail flow, including a look at the "stock repair" strategies appearing in the March cycle.

This episode of This Week in Futures Options (TWIFO) captures a market in transition. As we move through January 2026, the "All-In" equity trade is facing a rotation, silver is behaving like a high-octane meme stock, and even the most obscure products like Rough Rice are seeing double-digit vol spikes.

Whether you are hedging a portfolio against an earnings-season sell-off or looking to harvest high premiums in the metals, this episode provides the professional analysis you need to separate the wheat from the Lean Hogs.

Episode Highlights The Movers & Shakers: A Tale of Two Tapes

The Jedi (Light Side) are winning this week, but the Sith (Dark Side) struck the hardest blows in percentage terms.

• The Dark Side: Natural Gas plummeted 23.9%, Bitcoin dropped 6.3%, and the Russell 2000 took a breather after a massive YTD run.

• The Light Side: Silver stole the show, rallying over 20% on the week. WTI Crude and Brent both surged ~10%, while Palladium saw a double-digit rebound.

Equities: The Great Rotation of 2026

Uncle Mike Tosaw reveals a major strategic shift, moving away from Large Caps and into Mid-Caps and Small Caps.

• Large Cap Fatigue: The S&P 500 is up 72% over three years, while Mid-Caps are up only 33%. Is the gap finally closing?

• Zero-Day Obsession: Despite the 0DTE craze, the "Big Dog" trade this week was the 6,600 Puts in the E-mini S&P, expiring in 22 days—a massive hedge against upcoming tech earnings.

Energy: Crude is Back on the Menu

WTI Crude hit a rare 1-million contract week.

• The Conflict Trade: With Middle East tensions rising, traders are aggressive in the March 70 and 75 calls, betting on an $80 handle by summer.

• Volatility Alert: Crude vol in March is currently sitting at 56.7, up nearly 14 points on the week.

Metals: Silver's "Meme Stock" Era

Silver is up over 400% in three years, leading Uncle Mike to label it the new meme stock of the commodities world.

• Historic Volatility: Silver vol is currently at a staggering 107.2.

• The Upside Play: Massive flow in the March 120 calls (only 7 handles away!) as traders chase the vertical spike.

The Curveball: Rough Rice?

In a TWIFO first, the panel explores the esoteric world of Rough Rice options.

• Market Dynamics: Despite low liquidity, Rough Rice saw a 4.6% move this week with a metal-like skew where calls are catching a heavy bid.

The All-Star Panel

• Mark Longo: Founder, Options Insider Media Group

• "Uncle" Mike Tosaw: Wealth Manager, St. Charles Wealth Management

Geopolitical drama is back on the menu, and the futures options markets are feeling the heat. In this episode of This Week in Futures Options (TWIFO), Mark Longo breaks down a wild week where nearly every complex saw a volatility explosion. From potential trade wars to "Greenland drama," we explore how the tape is reacting at CME Group.

On today's episode, we dive into:

The Movers & Shakers Report

• The Volatility Spike: A look at the CVOL (CME Volatility Index) across the board. Why Treasury vol is roaring back to life (up 10 points) and Energy is pining the needle at 69.35.

• Natural Gas Mania: Nat Gas jumps a staggering 57% as the polar vortex hits.

• Metals & FX: Precious metals explode in both price and vol, while FX vol gains a full point on trade war chatter.

• The Dark Side: Bitcoin slides over 8%, leading the losers alongside Palladium and Copper.

Equities: The Big Tech Rotation

• Nasdaq vs. Small Caps: We analyze the pronounced rotation out of large-cap tech and into small caps.

• Zero-DTE Action: A deep dive into the massive paper hitting the Nasdaq-100 (NQ), where 0-DTE contracts dominated 43% of the weekly flow.

• The March Skew: Why traders are paying a premium for March 24,000 puts in the Nasdaq and what it means for the next 60 days of market risk.

• Call Discounts: Is the 13.5% discount on March calls a buying opportunity or a warning sign?

Market Intelligence

• Geopolitical Impact: How the "Greenland deal" headlines and Middle East tensions are impacting WTI and precious metals.