Rising Treasury yields have listeners asking: Is TLT the right ETF for trading a view on bonds, and will we ever get a tradable version of the MOVE Index?

Mark Longo and Dan Passarelli tackle your bond ETF options questions, comparing TLT and IEF, their options liquidity and the different portions of the Treasury yield curve they represent. They discuss why matching your trading thesis to the right underlying matters, particularly when your focus is the 10-year Treasury note.

The conversation also explores buying Treasuries directly, the history of Cboe's Treasury volatility indices and CME Group's CVOL suite. Why has creating a tradable bond volatility product proved so challenging—and do Mark and Dan think that will change?

Plus, the hosts weigh in on listener polls covering Nvidia's stock buyback and PURR options tied to Hyperliquid's HYPE token.

What can bond market volatility tell you that the VIX can't? Mark Longo and Dan Passarelli break down the MOVE Index and explain why equity options traders should keep an eye on Treasury yield volatility.

Learn what MOVE measures, how its Treasury options components are weighted, and why comparing its level directly with VIX can be misleading. Mark and Dan also explore what it means when stock and bond volatility diverge, how to interpret implied daily moves, and the usefulness and limitations of MOVE as a market indicator.

Plus, the latest listener poll on NVIDIA's stock buyback and a Market Taker Question of the Week: Do shorter-term options always offer sellers faster time decay?

When does an option actually stop trading, and what happens when expiration arrives? Mark Longo and Dan Passarelli trace how the calendar grew from monthly expirations to weeklies, daily SPX options, and Monday and Wednesday expirations in select stocks and ETFs.

Along the way, they explain why traditional SPX monthly options can stop trading on Thursday yet settle on Friday morning, how cash settlement differs from physical settlement, and why expiration day can catch traders off guard. They also share stories from the trading floor and answer listener questions.