Episodes
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host Mark Longo is joined by Henry Schwartz from Cboe and Mike Tosaw from St. Charles Wealth Management to break down the wildest trends shaking up the options market as we wrap up the first half of 2026.
The crew dives headfirst into the massive tech market crosscurrents following Micron's blockbuster earnings release. Is the tech wreck fading, or are single-name equity options setting up for a major fade? Plus, the team analyzes a surprising spike in the VIX driven entirely by SPX upside FOMO positioning.
In this episode's Trading Block and Odd Block segments, the panel uncovers questionable, high-volume flow in some very unusual names:
Bumble (BMBL): Checking back in on the land of ladies looking for love. Why are traders suddenly buying up the August $3 calls on this beaten-down name?
Klarna (KLAR): A massive institutional call-selling sweep hits this buy-now-pay-later fintech giant. Is it delta hedging or a short-term volatility play?
Chime Financial (CHYM): A deep look into a massive, wide-collar strategy using low-delta puts and calls ahead of August earnings.
The Silver Saga: Mike Tosaw addresses the live chat backlash after hesitating to pull the trigger on his famous $40 SLV put claim.
Around the Block: The team previews what to expect from market volume, oil prices, and crypto/MSTR volatility heading into the upcoming America 250 holiday week.
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On today's episode, host Mark Longo and the all-star panel break down a fascinating "ho-hum" macro day that is hiding massive, wild swings under the surface of individual single-name equities.
First, the crew tests their wits with an official geography question from a 1980s Trivial Pursuit deck that leaves everyone questioning the data. Then, Mike Tosaw and Andrew Giovinazzi dive deep into the trading floor to look at the massive rotation into small caps (IWM), unusual vertical action in September VIX options, and why the tech giants (MSFT, GOOGL, AMZN) are shedding serious weight from their recent all-time highs while AI chip darlings like SanDisk (WDC) and Micron (MU) steal all the oxygen in the room.
On the Trading Block & Odd Block:SpaceX Tears: Andrew's mama, Mama Lobster, is in mourning as SpaceX plunges roughly 11% in a single session. Is the air coming out of the IPO bubble, or is the premium vastly underpriced for single-leg buyers?
Biotech Calls (ERAS): Heavy upside call buying hits the October 20 lines for Erasca Inc. Andrew breaks down why this early-stage oncology player is seeing big institutional accumulation.
Pizza Puts (PZZA): Massive volume hits the August 25 puts for Papa John's. The panel breaks down why the entire restaurant and fast-food sector is getting squeezed eight ways from Sunday.
Fiserv (FI): The continuation of the massive July 40 put saga. Is paper finally getting assigned on this "stair-step" downward trend?
The Strategy Block:Mike Tosaw breaks his own golden rule of spreading to discuss why the extreme volatility and massive price extensions in SpaceX make a rare, compelling case for buying single-leg options instead of spreads.
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Missing episodes?
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On this truncated holiday edition of The Option Block, host Mark Longo is joined by panelists Mike Tosaw of St. Charles Wealth Management and Henry Schwartz of Cboe to break down a wild, high-volume week in the options market.
The crew dives deep into the absolute blockbuster debut of SpaceX options, putting up a staggering 1.8 million contracts on day one—roughly 5X the historic 2012 Meta IPO record. The panel adjusts those numbers for "options inflation" compared to 2012's average daily volume (ADV) and analyzes the extreme upside skew, crashing implied volatility, and how retail traders are playing the action. Plus, Mike Tosaw gives his take on the new Fed chair's shift in guidance policy and details why he's keeping an eye on silver (SLV) put options. Finally, the team breaks down unusual activity in Butterfly Network (BFLY), Allot Limited (ALLT), and QuantumScape (QS).
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The market is throwing a massive party following a surprise Middle East deal and Elon Musk's highly anticipated SpaceX IPO. The major indices are ripping higher, and the VIX is crashing hard—briefly touching a 15 handle.
But is this explosive rally a "done deal," or are the markets setting up for a sharp reversal? In this episode, Mark Longo, "Uncle" Mike Tosaw, and Andrew "the Rock Lobster" Giovinazzi kick things off with a bizarre 1980s history trivia challenge before diving headfirst into the madness across the equities and options landscape.
On the Block:The Trading Block: Breaking down a wild 2% surge in the S&P and a massive 3% rip in the Nasdaq. Plus, a look at crashing crude, collapsing volatility (VIX & VVIX), and Mama Lobster's exclusive allocation of SpaceX shares.
The Odd Block: Bizarre, questionable, and "no-bid" options activity in Fiserv Inc. (FISV) after their CEO abruptly jumps ship, and massive call buyers loading the boat on a seemingly impossible weekly strike for Morgan Stanley (MS).
The Strategy Block: Uncle Mike breaks down a comprehensive case study using a 1-by-2 ratio spread as a powerful stock repair and risk-management strategy for skyrocketing AI plays like AMD.
Around the Block: What to watch during a truncated holiday week, upcoming FOMC minutes, and what the future holds for the new Fed Chair.
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On this episode of The Option Block, Mark Longo is joined by "Uncle" Mike Tosaw (St. Charles Wealth Management) and Henry "The Flowmaster" Schwartz (Cboe) for a lively discussion covering the biggest stories driving the options world.
This episode dives into:
Why SPCX could rock the options market The enormous anticipation surrounding the SpaceX listing and its upcoming options launch Whether selling volatility after hot IPOs is actually a winning strategy Massive SPX intraday swings and what they mean in historical context VIX hovering above 20 and what elevated volatility means for traders Record-breaking options volume across SPY, SPX and QQQ Oracle's post-earnings collapse and continued AI spending concerns Big moves in Apple, Nvidia, Intel and Micron Unusual options activity in UNIT and LifeZone Metals Cboe's upcoming XSP binary options launch Plus plenty of classic Option Block banter, market insights and listener questions. -
By the power of volatility! The markets unleashed their inner Skeletor this week as traders grappled with a sharp Friday selloff, renewed Middle East tensions, surging volatility, and another furious round of AI-fueled stock action.
Host Mark Longo welcomes Mike Tosaw (St. Charles Wealth Management) and Andrew Giovinazzi (The Option Pit) for a wide-ranging discussion covering everything from He-Man trivia and Masters of the Universe nostalgia to Broadcom, Micron, Nvidia, Intel, Apple, SpaceX, VIX, and the relentless AI trade.
The panel debates whether Friday's selloff was simply a healthy pullback after a historic rally, examines the latest volatility action, breaks down unusual options activity in Equinox Gold (EQX) and American Battery Technology (ABAT), and explores how traders may use options to approach the highly anticipated SpaceX IPO.
In this episode:
Skeletor's impact on modern markets Friday's selloff and Monday's rebound VIX, volatility, and market sentiment AI valuations and the semiconductor trade SpaceX IPO expectations Unusual options activity in EQX and ABAT Nvidia, Tesla, Apple, Intel, Micron, and more Listener favorites and market outlookCan the bulls reclaim all-time highs, or is Skeletor just getting started? Tune in and find out.
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Zombie phone brands are back from the grave.
This episode of The Option Block dives into the surprising resurgence of Nokia and BlackBerry as traders chase AI-fueled momentum, while Broadcom suffers one of the largest market-cap wipeouts in history. Mark Longo, Henry Schwartz (Cboe), and Uncle Mike Tosaw (St. Charles Wealth Management) break down the latest options activity, unusual trades, market rotation, volatility trends, and the continuing explosion in options volume.
You'll also hear discussion on:
Broadcom's post-earnings collapse Nvidia's latest rally Micron's wild ride above 1,000 Nokia and BlackBerry's AI-fueled comeback Record-setting options volume in May Small-cap and Russell 2000 strength The end of the Pattern Day Trader rule Unusual activity in NextNav, BlackBerry and 10X Genomics SpaceX IPO excitement and what it could mean for options traders -
The S&P 500 hits fresh all-time highs while options traders unleash record-setting volume across the market. On this episode of The Option Block, Mark "The Voice of Options" Longo, Andrew "The Rock Lobster" Giovinazzi and "Uncle" Mike Tosaw examine the resurgence in software stocks, the speculative boom in space-related names, massive moves in Micron, Oracle, Microsoft, Palantir and Nvidia, plus unusual options activity in Virgin Galactic and Taseko Mines.
The team also discusses VIX below 16, new highs in the market, earnings season, copper demand, AI-driven rallies and the elimination of the Pattern Day Trader rule. Other topics in this episode included:
🔹 Record options volume
🔹 Space stock speculation
🔹 AI and software resurgence
🔹 Micron options frenzy
🔹 Virgin Galactic unusual activity
🔹 VIX analysis
🔹 Earnings preview
🔹 Strategy Block with Uncle Mike -
The market is hitting brand new all-time highs, but the options landscape is flashing some highly unusual signals. In this episode of The Option Block, Mark Longo, Uncle Mike Tosaw, and Henry "The Flowmaster" Schwartz break down the wild, speculative environment driving the latest sea of green.
The panel dives deep into the upcoming, historic SpaceX IPO—discussing what traders can expect from its highly anticipated options debut, potential volume records, and the structural listing criteria. Plus, the team breaks down a massive, inexplicable 1.55 million contract open interest anomaly in the Global X Defense Tech ETF (SHLD), and a massive post-earnings call option explosion in Snowflake (SNOW).
On the Docket:The Trading Block: The market pushes north of 7,500 while VIX and VVIX get their legs cut out from under them. What does an inverted put/call skew in 55% of tech names tell us about current market frothiness?
The SpaceX Countdown: Anticipating the June IPO. Will SpaceX options instantly usurp Tesla and Nvidia at the top of the volume charts?
The Odd Block: Massive call buying and vertical spreads in Snowflake (SNOW) ahead of its monster 40% post-earnings move.
Weird OI Anomalies: Breaking down a multi-million contract data glitch in the Global X Defense Tech ETF (SHLD) and heavy bullish rolls in ASP Isotopes (ASPI).
Around the Block: Flatlining put demand in the SPX, a look at silver (SLV) channeling at the 70 level, and why Mike is keeping a close eye on his massive Palantir (PLTR) holdings.
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NVDA earnings are in the books… and the market barely blinked. The crew breaks down the post-earnings reaction, volatility collapse, VIX drifting lower, bond market swings, fuel cell madness, Hyperliquid upside, and unusual options activity lighting up names like PURR, BLDP, UTZ and more.
Plus: Is the market still running on AI hype… or has the great pivot to cheese balls officially begun?
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The indices might be flashing red, but the Option Block crew is bringing the heat. In this episode, Mark Longo, Uncle Mike Tosaw, and Andrew "The Rock Lobster" Giovinazzi dive into market weekend head-fakes, the tech vs. energy sector tug-of-war, and why a certain famous swimsuit issue used to flood the trading floors like clockwork.
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The guys break down massive volume spikes in the QQQs, an explosive earnings season sitting at a 130% straddle outperformance, and unusual activity cooking in some wild single-name tickers.
On The Docket:The Trading Block: Analyzing a volatile Monday open, VIX hovering near 18, and how the markets are digesting the ongoing Middle East tensions.
The Hot Seat: Massive volume in the tech space—tracking giant movement in NVIDIA, Tesla, Apple, and Alphabet, plus a look at Micron's massive whipsaws.
The Earnings Block: Sneak peeks at what to expect from upcoming prints including Home Depot, Lowe's, Target, Walmart, and the highly anticipated NVIDIA report.
The Odd Block: Pulling back the curtain on unusual option activity in AmpliTech Group (AMPG), Petrobras (PBR), and newcomer T1 Energy (TE).
The Strategy Block: Uncle Mike revisits the underrated power of utilizing put spreads to neutralize vega, manage theta, and efficiently hedge your portfolio.
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Market volatility remains stubbornly persistent even as the S&P 500 blows past 7500 and the Dow hits 50K. In this episode, Mark Longo and the all-star panel break down why the "Thursday Curse" has officially become a "Thursday Blessing."
The team dives deep into a massive day for single-name options, including a jaw-dropping pivot from Aramark (ARMK) into the AI data center space. Plus, Henry "The Flowmaster" Schwartz breaks down the unusual upside call kinks, "Uncle" Mike Tosaw discusses the isolated nature of this rally, and the panel analyzes the "dumpster fire" that is Ford finally finding a new spark.
On this episode, the panel discusses:
The Trading Block: S&P 7500, Dow 50K, and the curious resilience of the VIX despite all-time highs.
Flowmaster Insights: Henry Schwartz explains why 44% of liquid stocks are showing inverted call skew.
The Odd Block: Why is Aramark (the cafeteria people) suddenly an AI play? Plus, a look at Hyperliquid (PURR) and FIRMI.
Portfolio Strategy: Mike Tosaw on managing covered calls during an explosive bull run.
Earnings Watch: Previewing the heavy hitters still on the deck, including the big NVIDIA print.
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Is "Old Tech" the new shiny toy? Mark, Uncle Mike Tosaw, and Andrew "The Rock Lobster" Giovinazzi break down a market where legacy names are exploding and the "magical letters" of AI are breathing new life into forgotten tickers. From all-time highs in the S&P 500 to volcanic eruptions in semiconductor names, the panel navigates the latest trends, unusual activity, and protective strategies for this high-flying environment.
On this episode, the team discusses:
The Trading Block: A look at the S&P 500 hitting north of 7,400, VIX hovering near 18, and the "Everything Old is New Again" theme driving Apple, Intel, and Qualcomm.
Single Name Surge: Breaking down the massive volume and price action in Nvidia, Tesla, Intel, Micron, and AMD. Plus, what's behind the resurgence of Nokia?
The Odd Block: Unusual options activity in Sony Group (SONY), the minerals and geosciences play Ivanhoe Electric (IE), and the earnings-driven flow in Plug Power (PLUG).
The Strategy Block: Uncle Mike explains how to use a 1x2 ratio put spread to get paid for buying stocks you want at a lower price while hedging for a potential pullback.
Around the Block: Predictions for the rest of the week, the upcoming Nvidia earnings, and why now might be the time to look at protective puts.
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The All-Star Panel is back together—mostly in person! Mark Longo and Henry "The Flowmaster" Schwartz are reporting live from the floor of the Options Industry Conference (OIC) 2026. Joining them from the (slightly) quieter confines of St. Charles is Uncle Mike Tosaw.
In this special episode, the crew breaks down a blistering week in the markets where all-time highs are becoming the daily norm. Henry Schwartz shares exclusive insights from his "State of the Industry" presentation, revealing a massive surge in contract volume and the future of the options exchange landscape.
On the Docket:
The Trading Block: S&P 500 hitting 73.5? The panel discusses the "madness" of the current bull run, the Middle East geopolitical impact, and why Apple is being rewarded for its AI patience.
State of the Industry: Henry drops the data on why we're on track for 18 billion contracts in 2026. Plus, the evolution of 0DTE (Zero Days to Expiration) and the rise of event contracts.
The Odd Block: Unusual activity in Gambling.com (GAMB), the "Hype" token tracking stock (PURR), and a massive reaching-for-the-stars call buy in Cognizant (CTSH).
Around the Block: Predictions for the summer doldrums (or lack thereof) and why the VIX isn't budging despite minor pullbacks.
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The market is caught in a tug-of-war between geopolitical tensions in the Strait of Hormuz and the relentless AI spending boom. In this episode, Mark Longo, Andrew "The Rock Lobster" Giovinazzi, and "Uncle Mike" Tosaw break down why the indices are shaking off war jitters to focus on massive server farm investments.
The panel explores the "post-ceasefire" volatility environment, the surprising resilience of Mag Seven earnings, and the massive $700 billion projected spend on AI infrastructure. Plus, a deep dive into unusual activity in names you haven't heard in years—including a legacy giant's attempt to pivot to AI.
On the Block:The Trading Block: VIX cash flirts with an 18 handle, while Nokia and Caterpillar become unexpected AI plays.
The Odd Block: Unusual options activity in Aurora Innovation (AUR), a "Viceroy Special" in Xerox (XRX), and haptic tech plays in Immersion Corp (IMMR).
The Strategy Block: Uncle Mike breaks down Timeframe Selection—the pros and cons of daily vs. monthly covered calls and how to maximize time decay.
Mail Block: Listener questions on rising gas prices, EV interest in Tesla and Rivian, and the panel's take on the new Hulk Hogan documentary.
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AI spending is moving the needle on the US GDP, and the Option Block panel is here to break down the massive capital allocation driving the markets. In this episode, Mark Longo is joined by Henry "The Flowmaster" Schwartz from Cboe and Mike Tosaw from St. Charles Wealth Management to discuss whether the market is "cutting a fat hog in the butt" with these record AI expenditures or if we're witnessing a historic capital misallocation.
In this episode:The Trading Block: A deep dive into the mega-cap earnings sweep. From Meta's spending spook to Alphabet's cloud success and Microsoft's mixed bag, the team analyzes how AI CapEx is now a primary driver of market sentiment.
The "Fat Hog" Trade: Mike Tosaw explains his covered call strategy in Qualcomm (QCOM) and why sometimes making a 6% premium in a month still feels like leaving meat on the bone.
The Odd Block: Unusual activity in Blue Owl Capital (OWL), Imperial Petroleum (IMPP), and a "palette cleanser" trade in Levi Strauss (LEVI).
Around the Block: Predictions for Apple earnings, the upcoming OIC conference, and why the "buy the dip" mentality persists in the face of macro uncertainty.
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Is the market pricing in a "Peace Dividend" before the peace actually arrives? Host Mark Longo is joined by "Uncle" Mike Tosaw of St. Charles Wealth Management and Andrew "The Rock Lobster" Giovinazzi of Option Pit to break down a market that refuses to quit. Despite geopolitical tensions, the S&P 500 is flirting with all-time highs—is this a "Peace Dividend" or just aggressive momentum?
In this episode, the panel dives into:
The Trading Block: A look at the "drifting" market, VIX cash levels, and the massive rally in tech. Why are algos and retail traders buying the dip with both hands?
Earnings Palooza: Preparing for the "mother of all earnings weeks" with Meta, Amazon, Microsoft, Alphabet, and Intel on deck. Plus, a look at the wild volatility haircut in Amazon's straddle.
The Odd Block: Unusual activity in Vila Silver Corp (VZLA), a massive pre-earnings play in NOV Inc (NOV), and the explosion (and subsequent implosion) of Poet Technologies (POET).
Strategy Block: Uncle Mike shares a "low-risk entry" strategy using SPY call diagonals to capture double leverage with limited downside.
80s Trivia: A heated battle over science and geography that leaves the panel questioning everything (including the color of a Chow Chow's tongue).
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If you think the market makes sense right now, you haven't been paying attention. This week on the Option Block, host Mark Longo is joined by Dan Passarelli (MarketTaker Mentoring), Brian Overby (The Options Playbook), and Kevin Carter (Cboe Global Markets) to navigate a market that is equal parts predictable and head-scratching.
On the Docket:
Trading Block: A look at the surging price of crude and why semiconductors are carrying a "tired" market.The Odd Block: We investigate massive call buying in FIGS (Medical Scrubs) ahead of earnings. Is it a retail frenzy or institutional positioning? Plus, unusual flows in Hasbro (HAS) and Comcast (CMCSA).
Strategy Session: Brian Overby breaks down his recent trade in Netflix and explains the mechanics of a back ratio spread to repair a stock position (The "Covered Call on Steroids").
Volatility Watch: Discussing why the VIX remains largely "hunched" despite a sea of red on the screens and geopolitical bullets flying.
Mail Block: Listeners ask about the updated SKU index and the tactical use of high vol.
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Join Mark Longo, Mike Tosaw of St. Charles Wealth Management, and Andrew "The Rock Lobster" Giovinazzi as they break down a head-scratching Monday open. Despite geopolitical tensions in the Middle East and firing in the Straits, the markets remain resilient. Why is capital still fearlessly flowing into equities?
In this episode, the panel dives into:
The Trading Block: A look at the "Green Day" phenomenon, VIX levels, and why "AI magic" seems to be offsetting interest rate jitters and geopolitical unrest.
Odd Block: A deep dive into unusual activity in Pitney Bowes (PBI)—a name that hasn't surfaced on the network in nearly 20 years—and the recovery play in Coursera (COUR).
Strategy Block: Mike Tosaw explains why "Dudes gotta be dudes" in your covered call portfolio and how to categorize your stocks like a football roster to maximize performance.
Earnings Season: Previews for Tesla (TSLA), Boeing (BA), United Airlines (UAL), and the "Sneaky Fins" at Nokia.
Trivia: Test your geography skills—do you know the capital of South Dakota and the "Pierre vs. Pier" pronunciation debate?
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Is this the "Golden Age" of derivatives trading, or are we just off the rails? In this episode, Mark Longo and the "All-Star Panel" break down an explosive week that saw the S&P 500 rally nearly 700 handles off the lows. With the VIX coming back to earth and new all-time highs on the horizon, the team explores whether the market has finally exhausted the bears.
On the Block:
The Macro View: A look at the 10% gain in the S&P 500 since late March and why the "Dudes" (Big Tech names like Google, Amazon, and Microsoft) are leading the charge.
RMC Recap: Henry "The Flowmaster" Schwartz returns from the Cboe Risk Management Conference with insights on the state of the industry and retail vs. RIA flow at Schwab.
Zero DTE Debate: Is selling zero-day options becoming too crowded, or is there still a "free weekend" to be had?
The Odd Block:
Merlin, Inc. (MRLN): A newcomer specializing in AI-powered autonomous flight (drones). Why is the stock up 300% from its lows?
Compass Therapeutics (CMPX): Massive volume in biotech. Is someone betting on a binary event?
Lucid Group (LCID): While the rest of the market rallies, the EVs are getting shellacked. We look at the bearish flow and potential "line in the sand" puts.
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