Episodes

  • Volatility Views 679: OIC Surprises, Upside Crashes and Evil Hanses
    May 9 2026

    In this episode of Volatility Views, host Mark Longo checks in from the road at the Options Industry Conference (OIC) to break down a week of relentless market rallies and "upside crashes." Joining the show is Hans Albrecht from Option Pit, who steps into the hot seat to discuss why volatility isn't dropping despite the S&P 500 blowing past 7,300.

    The duo explores the shifting market structure—from the rise of 0DTE (Zero Days to Expiration) options to the looming world of 24-hour options trading and AI-powered brokers. Plus, a look at the "Evil Hans" trope in fiction and why giving yourself "time to be wrong before you're right" is the ultimate trading edge.

    Key Highlights Include:
    • The OIC Briefing: Predictions for 18 billion contracts in 2024 and the legal battle over "trades vs. bets" in prediction markets.

    • The Upside Crash: Why the VIX is staying bid even as markets hit all-time highs—and the parabolic moves in names like Micron.

    • Market Structure Shifts: The impact of CTAs, vol-targeting funds, and leveraged ETFs on daily closing imbalances.

    • Volatility Term Structure: A deep dive into the contango/slope and why the October "midterm" futures are worth watching.

    • VIX Options Flow: Analyzing the massive activity in June 65 calls and the unwinding of May upside verticals.

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    1 hr and 1 min
  • Volatility Views 678: Damn The Vol Torpedoes...Full Speed Ahead!
    May 2 2026

    The bulls are charging, and volatility is getting "taken to the woodshed." Join Mark Longo, Russell Rhoads (the "Volatility Closet" resident), and Mark Sebastian (the "Greasy Meatball") as they break down a massive week in the markets. From the "mother of all tech earnings weeks" to the generational spending on AI, the crew explores why the VIX remains under pressure despite global geopolitical turmoil and a hawkish-leaning Fed.

    In this episode, the team dives into:

    • The Volatility Review: A post-mortem of the April markets, the impact of the FOMC meeting, and how mega-cap tech earnings are reshaping the volatility landscape.

    • VIX vs. VVIX: Russell analyzes the relationship between the VIX and the "Vol of Vol," and whether the current divergence is the ultimate fade signal.

    • Russell's Weekly Rundown: A look at the weird and wild trades hitting the tape, including a "penny" VIX binary and a 21-19-17 put fly.

    • The Crystal Ball: The guys place their bets on where the VIX cash will settle next week.

    • Pro Trading Crate: Announcing the April winner and the debut of Dan Passarelli's brand-new book.

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    59 mins
  • Volatility Views 677: Geopolitical Turmoil and the Death of Vol Conferences
    Apr 24 2026

    Is the traditional volatility conference a dying breed? This week on Volatility Views, host Mark Longo and the "Once, Future, and Present Dr. VIX," Russell Rhoads, dive into the shifting landscape of institutional trading events—from the legendary "swag mazes" of the CBOE Risk Management Conference (RMC) to the distinct lack of retail-friendly education in the space.

    The duo breaks down a week of head-scratching market action where the S&P 500 hits new all-time highs while the VIX remains surprisingly "spicy" due to geopolitical uncertainty and ceasefire extensions.

    Highlights include:

    • The RMC Swag Report: Russell reviews the high-end gear at this year's conference and the curious absence of electronic swag.

    • The VVIX/VIX Ratio: A deep dive into using this relationship as a hard trading indicator.

    • VIX Options Flow: Analysis of massive prints in the May and June cycles, including a rare 15,000-lot weekly trade that caught Russell's eye.

    • The "Hair Dryer" Hedge: A wild look at betting markets and a Polymarket trader who allegedly rigged a weather-based bet.

    • Crystal Ball: Mark and Russell place their bets on the VIX handle for next week.

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    1 hr and 1 min
  • Volatility Views 676: Are these Bizarro Markets?
    Apr 17 2026

    Is it "opposite day" in the financial markets? In this episode of Volatility Views, Mark Longo is joined by Russell Rhoads (Dr. VIX), Andrew Giovinazzi from Option Pit, and Scott Nations from Nations Indexes to deconstruct a wild week where bad news for the world seemingly became fuel for a massive equity rally.

    The team dives deep into the "Bizarro" nature of the current landscape—where a blockade of the Strait of Hormuz resulted in a market surge and a ceasefire triggered explosive upside momentum.

    Key topics include:

    • The Volatility Review: A look at VIX Cash levels, the collapse of VVIX, and the surprising lack of "flight to quality" in gold and treasuries.

    • Bizarro Markets: How the S&P 500 reached new highs despite crude oil remaining significantly elevated.

    • RMC Insights: Russell Rhoads shares his top-level takeaways from the latest Risk Management Conference (RMC), including the shift toward buffered ETFs and the latest research on VIX futures reactions to spot.

    • VIX Options Flow: A breakdown of massive volume in May and June strikes, including a look at the "Scott Nations Special" deep out-of-the-money calls.

    • The Crystal Ball: The team peers into the future to predict where the VIX and Volley will land next week.

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    1 hr and 4 mins
  • Volatility Views 675: Did the Ceasefire Kill Volatility?
    Apr 10 2026

    On this episode, Mark Longo, Russell Rhoads (the "Dr. VIX"), and Andrew Giovinazzi of Option Pit dive into a wild week in the vol markets. After a massive relief rally triggered by ceasefire headlines, the crew explores whether the "guns going silent" has permanently dampened the VIX or if we're just in a "hurry up and wait" market.

    In this episode, we cover:

    • The Ceasefire Surge: How the S&P 500 roared back past 6,800 and what it meant for VIX cash and Volley.

    • Volatility Review: A breakdown of the 10-point VIX drop in two weeks and the "spicy" CPI numbers hitting the tape.

    • The Weekly Rundown: Russell breaks down a "Hall of Fame" trade—turning 9 cents into $1.60—and the rise of deep-in-the-money put spreads.

    • Futures & Curves: Is the return of contango an opportunity or a trap? Plus, a look at the October "Midterm Vol" and the front-month April futures.

    • The Crystal Ball: The team places their bets on where the VIX will land next week. Will we see a sub-20 handle or a weekend reversal?

    Check out more from the Options Insider Radio Network: * Pro Q&As and Exclusives: TheOptionsInsider.com/Pro

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    58 mins
  • Volatility Views 674: The Looming Specters of War, Recession and Private Credit Risk
    Mar 27 2026

    The "warm turns" mid-week as the post-Iran conflict pattern continues to haunt the markets. In this episode, Mark Longo, Mark Sebastian, and Dr. Russell Rhoads break down why the VIX is finally showing its teeth and whether the 30 handle is the new normal.

    Inside this episode:

    • The Volatility Review: A deep dive into the "Weekend Trade" dynamics, the spike in VVIX, and why the "bus drivers" of this market—Oil and Bonds—are screaming for attention.

    • The Looming Specters: Analysis of the OECD's revised inflation forecasts and why the "R-word" (Recession) is starting to echo across Europe and the US.

    • VIX Options Insight: Are the 15 puts dead? We look at the massive flow into April 20 and 19 puts, and the debut of some "psychologically relevant" strikes.

    • Russell's Weekly Rundown: Dr. VIX explores the "most important election of our lifetime" trade and highlights a rare appearance of the April 39 calls.

    • ETP Check-in: The shifting liquidity from UVXY to UVIX and how to manage the "ulcer index" in a backwardation environment.

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    1 hr and 3 mins
  • Volatility Views 673: Geopolitical Risk and the Death of Lone Wolf McQuade
    Mar 20 2026

    In this episode of Volatility Views, the crew breaks down a week of intense market swings driven by escalating Middle East conflict and a stunning shift in the Fed's long-term rate outlook. We also pay tribute to the legendary Chuck Norris (1940–2026) and discuss why his passing—and the spirit of Lone Wolf McQuade—is the perfect metaphor for today's "fighting" markets.

    Key Topics Covered:

    • The 2027 Pivot: Why the market is suddenly pricing in a "higher for much longer" regime, with the next potential rate move shifting toward late 2027.

    • Geopolitical Volatility: How the Iran-Israel conflict and threats to oil supply chains are keeping the VIX term structure in a state of nervous backwardation.

    • The Gretchen Bullseye: Russell Rhoads' model nails the VIX Cash settlement at 26.26. We look at the next prediction for the week ahead.

    • The UVIX "Open-to-Open" Edge: A deep dive into Russell's new back-tested strategy for trading volatility ETPs over the weekend.

    • VIX Option Flow: Analyzing the massive April 80 call interest and why the "May 47.5" trade just rolled to August.

    Featured Guests:

    • Mark Longo (The Options Insider)

    • Andrew Giovinazzi (Option Pit)

    • Russell Rhoads (VIX Expert & Author)

    Links: Get more at TheOptionsInsider.com/Pro

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    1 hr
  • Volatility Views 672: Crude vs Bonds vs VIX vs Friday the 13th
    Mar 13 2026

    It's a spooky Friday the 13th on the Options Insider Radio Network! This week, the panel gathers to dissect a market that is being haunted by more than just superstitions. From explosive moves in energy to a bond market that is sending shockwaves through the 60/40 portfolio, the "murderers' row" of vol experts covers it all.

    On the Docket:

    • The Energy "Memification": Mark Sebastian breaks down the "algo madness" in Crude Oil and why the move to $120 was a mechanical outlier.

    • The Bond Market Cracks: Dr. Russell Rhoads and Jim Carroll discuss why "9 Vol" in the 10-year Treasury is the equivalent of a 40 VIX and what it means for interest rate expectations.

    • VIX as a Passenger: Why the VIX is "yawning" at 27 despite the red across the screens.

    • The Weekly Rundown: Dr. Rhoads reviews a litany of "crappy trades" and highlights a massive 20,000-lot mystery trade in the VIX weeklies.

    • Crystal Ball: Will next week bring a "Jalapeño" spike or a "Vanilla" retreat? The team places their bets on the next VIX settlement.

    Featuring:

    • Host: Mark Longo, The Options Insider

    • The Greasy Meatball: Mark Sebastian, Option Pit

    • The Professor Dr. VIX: Dr. Russell Rhoads, IU Adjunct Professor

    • The Vixologist: Jim Carroll, Ballast Rock Private Wealth
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    1 hr