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.

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.

• 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?

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.

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).