This Week In Futures Options

TWIFO 199: The Return of Volatility?  HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: SEAN SMITH, FTSE RUSSELL ON TODAY'S EPISODE, MARK AND SEAN DISCUSS: EQUITIES RUSSELL 2000 WEBINAR WHY LARGE CAPS HAVE DONE BETTER THAN SMALL CAPS LEAN HOGS CLASS 3 MILK FUTURES OPTIONS FEEDBACK QUESTION FROM OPTIONSGAME: IS THERE A DIFFERENCE BETWEEN BUYING A FUTURE AND 2 CALLS WITH 50% DELTA VS BUYING A STRADDLE? QUESTION FROM TIM: WHAT DO YOU THINK WILL HAPPEN TO OPTIONS WHEN THE TRADING FLOORS COME BACK?

TWIFO 198: Answering all Your Qs About Rates, Volatility, Crude, FX and More HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: SEAN SMITH, FTSE RUSSELL ON TODAY'S EPISODE, MARK AND SEAN DISCUSS: EQUITIES:  HAPPY 1 YEAR ANNIVERSARY TO MICRO E-MINIS CLICK ON THIS LINK FOR INFORMATION ON THE RUSSELL RECON CLICK ON THIS LINK FOR INFORMATION ON AN UPCOMING FTSE RUSSELL WEBINAR ON SMALL CAP VOLATILITY IN THE GLOBAL PANDEMIC FUTURES OPTIONS FEEDBACK QUESTION FROM MGTK: DOES THE CORONAVIRUS COMPLICATE ANY OF THE ANALYSIS OR EXECUTION THAT NEEDS TO BE DONE DURING THE RUSSELL RECONSTITUTION COMING UP IN JUNE? QUESTION FROM MILES: CAN WE GET SOME FX BACK ON THE SHOW? MAYBE GBP/USD? QUESTION FROM BALKAN SAVAGE: HELLO AND THANKS FOR ALL THE CONTENT! I HAVE A  QUESTION THAT I HOPE YOU MIGHT SHED SOME LIGHT ON FOR ME AS I'M STUCK.  DO YOU KNOW OF ANY WAY FOR A SMALL AND NOT SO SMALL GUY TO GET IN ON THE FX EXOTIC CURRENCY OPTIONS TRADING? THE ONLY THING I CAN FIND IS THE OTC STUFF AT THE BIG BANKS BUT THAT ST

TWIFO 197: Maelstrom of Small Caps, Hogs and Crude HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: SEAN SMITH, FTSE RUSSELL FTSE HOT SEAT GUEST: RICK ROSENTHAL, CBOE ON TODAY'S EPISODE, MARK, SEAN AND RICK DISCUSS: EQUITIES: FTSE RUSSELL EXTENDS INDEX DERIVATIVES AGREEMENT WITH CBOE SMALL CAPS HAD A HUGE RALLY YESTERDAY DISCUSSION OF THE VOLATILITY ANOMALIES DRIVING TRADING IN SMALL CAPS EXPLORING RELATIONSHIP BETWEEN SMALL CAP VOL AND LARGE CAP VOL CRUDE CRUDE BACK IN BUSINESS? CONFLICTS IN THE NEAR-TERM AND LONGER-TERM OUTLOOKS LEAN HOGS US HOG FUTURES SURGE AS MEAT PLANTS WARN OF PORK SHORTAGES FUTURES OPTIONS FEEDBACK QUESTION FROM NICODEMUS: HOW ARE WE STANDING AT THE CURRENT VIX/RVX RATIO VS. HISTORY? QUESTION FROM THOMAS: CAN SEAN CONFIRM THAT THE TRADITIONAL RUSSELL RECONSTITUTION IS STILL PLAN TO UNFOLD AS SCHEDULED AND THAT THERE WILL BE NO IMPACT FROM THE CORONAVIRUS PANDEMIC? THANK YOU AND I ENJOY THE PROGRAM. QUESTION FROM TONY WEBER: HAS THE SHUTDOWN OF PORK FACTORIES MADE TH

TWIFO 196: THE WILDEST WEEK IN CRUDE OIL HISTORY  HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: SEAN SMITH, MD OF DERIVATIVES LICENSING, FTSE RUSSELL CME HOT SEAT GUEST: RUSSELL RHOADS, EQ DERIVATIVES ON TODAY'S EPISODE, MARK, SEAN AND RUSSELL DISCUSS: CRUDE A HISTORIC, AND DANGEROUS, WEEK FOR CRUDE USO IS IN TURMOIL CRUDE CAN ACTUALLY GO NEGATIVE CME STARTED LISTING NEGATIVE STRIKES FOR CL OPTIONS BEGINNING 4/22 INTERACTIVE BROKERS TAKES $88M HIT FROM CRUDE FUTURES COLLAPSE EQUITIES THIS IS A GOOD TIME FOR SMALL CAPS.  THE RUSSELL 2000 HAS A LOWER WEIGHTING IN ENERGY THAN LARGE CAP INDICES LIKE S&P 500. CONSIDER THIS IF YOU ARE LOOKING TO DIVERSIFY AWAY FROM CRUDE OIL FOR A BIT. FUTURES OPTIONS FEEDBACK QUESTION FROM JLNE: HOW THE HECK CAN CL GO NEGATIVE? QUESTION FROM NEAL: DO YOU THINK WE WILL SEE NEGATIVE PRICES FOR THE FORESEEABLE FUTURE? COMMENT FROM 45T$: SO WE’RE LIVING IN A WORLD WHERE THERE ARE ACTUAL NEGATIVE STRIKES FOR CRUDE OPTIONS. JESUS! WHO EVER THOUGHT THAT WE’D GET H

TWIFO 195: Historic Crude Supply Cuts Vs. Demand Devastation HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: SEAN SMITH, MD OF DERIVATIVES LICENSING, FTSE RUSSELL ON TODAY'S EPISODE, MARK AND SEAN DISCUSS: CME MOVERS AND SHAKERS FOR THE WEEK MARCH CME GROUP OPTIONS REVIEW ACROSS ASSET CLASSES EQUITIES CRUDE OIL FUTURES OPTIONS FEEDBACK COMMENT FROM OPTION SELLING MENTOR: @OPTIONS AND @CMEGROUP GREAT PROGRAM! COMMENT FROM TTO: I WISH GRAINS WERE DOING MORE SO YOU COULD DISCUSS THEM ON TWIFO.  QUESTION FROM OPTIONIMUS: WITH ALL OF THE MARKET VOLATILITY THIS YEAR, WILL THE ANNUAL RECONSTITUTION BY FTSE RUSSELL STILL MOVE FORWARD IN JUNE? IF SO, DO YOU ANTICIPATE MORE CHANGES THAN USUAL IN THIS YEAR'S REVAMP? QUESTION FROM GENJI3: WHY DO YOU DO TWIFO 30 MINUTES AFTER THE OPTION BLOCK PROGRAM? WHY NOT BACK TO BACK? THX AND LOVE ALL THAT YOU DO. 5 STARS!  QUESTION FROM MULVY: IS CME FLOOR GONE IN THE NEXT YEAR? QUESTION FROM BIG TODD: WHY IS DAIRY ALWAYS IN THE TOP 5 THESE DAYS? WHAT'S CAUSING THIS

TWIFO 194: Trade Futures Or Be Stuck In The Past HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP GUEST CO-HOST: ANDREW GIOVINAZZI, OPTION PIT GUEST CO-HOST:  MIKE TOSAW, ST. CHARLES WEALTH MANAGEMENT ON TODAY'S EPISODE, MARK, ANDREW AND MIKE DISCUSS: CME MOVERS AND SHAKERS FOR THE WEEK EQUITIES CRUDE OIL METALS: GOLD AND SILVER FUTURES OPTIONS FEEDBACK QUESTION FROM COCL: WHEN YOU SEE THAT THE CALL SKEW IN A STOCK IS BID OVER THE PUTS IS THAT A SIGN THAT YOU SHOULD IMMEDIATELY SELL THAT SKEW?

TWIFO 193: Has the Crude Worm Turned HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: SEAN SMITH, FTSE RUSSELL ON THIS EPISODE, MARK AND SEAN DISCUSS: CME MOVERS AND SHAKERS FOR THE WEEK CME GROUP’S MARKET STATS FOR MARCH 2020 EQUITIES CRUDE OIL FUTURES OPTIONS FEEDBACK QUESTION FROM STIPOD: HAVE YOU HEARD ABOUT ANY MORE MARKET MAKERS BLOWING UP OUT THERE RIGHT NOW? QUESTION FROM ERIC: WHAT WAS IT THAT FORCED CME TO LIQUIDATE RONIN CAPITAL LAST WEEK? JUST A RISK ISSUE? COMMENT FROM MARKBRANT15: ANYBODY NOT BUYING IS FINE WITH ME! KID IN A CANDY STORE SCENARIO. NO JOY IN A PANDEMIC HOWEVER. QUESTION FROM TACK3: HOW DOES VOL IN RUT COMP TO SPY RIGHT NOW? MORE? LESS? QUESTION FROM ZANE: I SEE PEOPLE INCLUDING BLOOMBERG WARNING ABOUT USO EVEN THOUGH IT’S CHEAP. WHY? QUESTION FROM MARYC: WHY DON’T YOU GUYS SPEND MORE TIME ON SOME OF THE SMALLER NAMES ON YOUR LIST THAT TEND TO HAVE THE MOST EXTREME MOVES EACH WEEK? COMMENT FROM THORNTON: DEFINITELY NO #HOGLOVE THIS WEEK! QUESTION FROM DARCY: CAN YOU

TWIFO 192: Fading the Apocalypse HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CME HOT SEAT GUEST: SCOTT BAUER, PROSPER TRADING ON TODAY'S EPISODE, MARK AND SCOTT DISCUSS: CME MOVERS AND SHAKERS FOR THE WEEK THE PANDEMIC’S IMPACT ON FUTURES OPTIONS TRADING CRUDE OIL EQUITIES GOLD FUTURES OPTIONS FEEDBACK QUESTION FROM BRANDON:IS THIS VOL COLLAPSE FOR REAL? QUESTION FROM TOLLAND: CAN I GET ACCESS TO THE TWIFO REPORTS OUTSIDE OF THE LIVE SHOW STREAM? THX AND KEEP UP THE GOOD WORK.  QUESTION FROM BUD FOX: HUGE PUT VOLUME ON SPY 3.27 250’S. THOUGHTS? BUYING OR SELLING PUTS? QUESTION FROM LOU: WHY ISN'T RUT LEADING THE CHARGE TO THE DOWNSIDE AGAIN THIS WEEK? WHAT HAPPENED?

TWIFO 191:  THE ENDLESS DRAMA OF THE MARKET HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: SEAN SMITH, MD OF DERIVATIVES LICENSING, FTSE RUSSELL CME HOT SEAT GUEST: RUSSELL RHOADS, HEAD OF RESEARCH AND CONSULTING, EQ DERIVATIVES ON TODAY'S EPISODE, MARK, SEAN AND RUSSELL DISCUSS: CME MOVERS AND SHAKERS FOR THE WEEK CRUDE OIL NAT GAS EQUITIES: RUSSELL 1000 METALS: COPPER AND GOLD RATES: EURODOLLAR FUTURES OPTIONS FEEDBACK QUESTION FROM AJB_2010: I WONDER IF GOING FORWARD, THE EXCHANGES WILL USE THIS MOMENT TO REPLACE HUMANS.... QUESTION FROM NATURAL-EASE: DO THEY (MARKET MAKERS) MAKE ANY DIFFERENCE? QUESTION FROM ROB MORRIS: IGNORANT QUESTION, BUT ARE THEY REALLY NEEDED ON THE FLOOR? WHAT IS THE BENEFIT TO THEIR PRESENCE? QUESTION FROM RIC: ANY THOUGHTS ON FX AFTER BREXIT VOTE?

TWIFO 190: When Correlation Goes to One HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: SEAN SMITH, MD OF DERIVATIVES LICENSING, FTSE RUSSELL CME HOT SEAT GUEST: JEFF WHITT: CO-FOUNDER,  SIMPLY DERIVATIVE ON TODAY'S EPISODE, MARK, SEAN AND JEFF DISCUSS: CME CLOSING TRADING FLOOR DUE TO CORONAVIRUS FEARS SO MUCH RED ON THE SCREEN THIS WEEK EQUITIES: RUSSELL 2000 LEADING THE CHARGE TO THE DOWNSIDE, BEAT DOW INTO BEAR MARKET TERRITORY BY 2 DAYS ENERGY: WTI/CRUDE OIL - RUSSIA/OPEC PRICE WAR HAS ANNIHILATED CRUDE METALS: WHEN IT ALL HITS THE FAN CORRELATION GOES TO 1. GOLD POTENTIALLY UNDERPERFORMING EXPECTATIONS RATES/FX: EURODOLLAR - THE EURO WEAKENED ON THURSDAY AFTER THE EUROPEAN CENTRAL BANK ANNOUNCED MORE STIMULUS TO FIGHT THE CORONAVIRUS IMPACT BUT DID NOT LOWER INTEREST RATES, WITH THE SINGLE CURRENCY FALLING TO THE DAY’S LOW AS INVESTORS RUSHED FOR DOLLARS. FUTURES OPTIONS FEEDBACK QUESTION FROM SELAMY: WHY ARE THE SMALL CAPS BEING HIT HARDER THAN THE LARGE CAPS IN THE CORONAVIRUS STOCK MA

TWIFO 189: Fed Surprises as Volatility Rises HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: SEAN SMITH, MD OF DERIVATIVES LICENSING, FTSE RUSSELL ON TODAY'S EPISODE, MARK AND SEAN,  DISCUSS THE IMPACT OF THE SURPRISE FED RATE CUT ON THE MARKETS,  EXPLORE WHAT THE FEDWATCH WAS PREDICTING COMING INTO THIS WEEK,  DO A DEEP DIVE INTO EQUITY VOLATILITY RESEARCH, ANALYZE THE EXPLOSION OF EURODOLLAR OPTIONS VOLUME HITTING THE TAPE, LOOK AT THE CORONAVIRUS IMPACT ON CRUDE, AND MUCH MORE.

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: SEAN SMITH, MD OF DERIVATIVES LICENSING, FTSE RUSSELL ON TODAY'S EPISODE, MARK AND SEAN DISCUSS: MOVERS AND SHAKERS FOR THE WEEK. TOPICS FEATURED INCLUDE ENERGY, NAT GAS, WTI, CRUDE OIL, EQUITIES, RBOB, AND RATES. WE LOOK AT MICRO EMINI FUTURES AND THE CME FEDWATCH TOOL. FUTURES OPTIONS FEEDBACK QUESTION FROM JLD: IS SKEW DATA ON CME BTC RELIABLE WHEN THERE’S SUCH LOW VOLUME? QUESTION FROM BILLBEANZ: WHY DO PEOPLE LOVE 3-MONTH FAR OTM PUTS SO MUCH IN RUSSELL? QUESTION FROM JACK SCHWARTZ: HOW IS IT POSSIBLE THAT THE RUSSELL 2000 IS LEADING EQUITIES DOWN ON SUCH MACRO-DRIVEN NEWS? QUESTION FROM ELL87: IT SEEMS LIKE DEMAND WEAKNESS IS HERE TO STAY FOR CRUDE IN THE NEAR TERM. LOOKS LIKE THOSE CALL WING TRADERS WERE ALL CORRECT WHEN THEY FADED EVERY RALLY. CORONAVIRUS WAS THE REAL RISK LURKING IN THE SHADOWS.

TWIFO 187: The Zone of Annoying Volatility HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CME HOT SEAT GUEST:  ANDREW GIOVINAZZI, THE OPTION PIT ON TODAY'S EPISODE, MARK AND ANDREW DISCUSS: MOVERS AND SHAKERS FOR THE WEEK JANUARY OPTIONS NUMBERS FOR CME GROUP & OPTIONS COMPLEX OVERVIEW TOPICS FEATURED INCLUDE NAT GAS, WTI, EQUITIES, SOYBEANS, RBOB, AND CRYPTO FUTURES OPTIONS FEEDBACK QUESTION FROM RACQUEL: WHAT ARE SOME OTHER MARKETS THAT EXHIBIT SIMILAR SKEW TO EQUITY INDICES (E.G.- CHEAP CALLS AND EXPENSIVE PUTS)  QUESTION FROM DALY: UPTICK IN CME CRYPTO THIS WEEK? QUESTION FROM MARCUS T.: I THINK CRUDE DEMAND WILL RECOVER IN THE NEXT 1-2 YEARS. WHAT IS THE BEST WAY TO BE A LONG-TERM OIL BULL? FUTURES? OPTIONS? ETF? SOMETHING ELSE?  

TWIFO 186: Bitcoin Breakdown and Equity Analysis HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: SEAN SMITH, MD OF DERIVATIVES LICENSING, FTSE RUSSELL CME HOT SEAT GUEST: TIM MCCOURT, MANAGING DIRECTOR AT CME GROUP, GLOBAL HEAD OF EQUITY PRODUCTS ON TODAY'S EPISODE, MARK, SEAN AND TIM DISCUSS: MOVERS AND SHAKERS FOR THE WEEK. TOPICS FEATURED INCLUDE CRYPTO, EQUITIES, WTI AND COPPER. CRYPTO THE LAUNCH OF BITCOIN OPTIONS DISCONNECT BETWEEN BITCOIN FUTURES VOLUME AND BITCOIN OPTIONS VOLUME FACTORS DRIVING THE RECENT UPTICK IN BITCOIN OPTIONS VOLUME - 48 CONTRACTS TRADED ON MONDAY CME'S PLANS TO GROW BITCOIN OPTIONS VOLUME ARE THERE PLANS FOR A MICRO/MINI BITCOIN CONTRACT TO DRIVE MORE RETAIL ADOPTION? WHEN CAN WE STOP QUOTING BITCOIN VOLUME IN NOTIONAL VALUE? EQUITIES VIX: 15 - DOWN 2.3 FROM LAST SHOW VVIX: 91.3 - DOWN 10 FROM LAST SHOW RVX: 16.5 - DOWN 2.75 FROM LAST SHOW  VIX/RVX SPREAD - APPROX. 1.5 - .5 TIGHTER THAN LAST SHOW OVERVIEW OF CME EQUITY OPTIONS COMPLEX IN 2019 - HIGHS AND LOWS,

TWIFO 185: PANDEMIC CRUDE HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: SEAN SMITH, MD OF DERIVATIVES LICENSING, FTSE RUSSELL CME HOT SEAT GUEST: ADAM WEBB, FOUNDER OF MACROHEDGED  ON TODAY'S EPISODE, MARK, SEAN AND ADAM DISCUSS: MOVERS AND SHAKERS FOR THE WEEK. TOPICS FEATURED INCLUDE CRUDE, BRENT, EQUITIES, RATES AND LEAN HOGS. WTI CRUDE OIL PRICES ARE WEAKENING AGAIN AS CONCERNS ABOUT THE CORONAVIRUS OUTBREAK COME BACK INTO THE SPOTLIGHT AND DOMINATE THE OVERALL MARKET SENTIMENT. SURPRISINGLY, PEOPLE ARE NOT WADING INTO HUGE DOWNSIDE PUT BETS IN WTI RIGHT NOW. FUTURES OPTIONS FEEDBACK: COMMENT FROM KAMAR: SEEMS LIKE THE PEOPLE WHO’VE BEEN FADING WTI CALLS FOR MONTHS WERE ON THE RIGHT TRACK. THIS PRODUCT CAN’T EVEN CATCH A BID WHEN THE MIDDLE EAST IS IN FLAMES. NOW THIS VIRUS IS SQUEEZING OUT THE LAST OF THE DEMAND. SOLD TO YOU! QUESTION FROM JJL8: IS IT TIME FOR RECON YET? QUESTION FROM ELIAN: MORE VOLUME ON THE TAPE THIS WEEK FOR THE BITCOIN OPTIONS? QUESTION FROM ALLISON B.: HAVE YOU G

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CME HOT SEAT GUEST: SCOTT BAUER, PROSPER TRADING ACADEMY ON TODAY'S EPISODE, MARK AND SCOTT DISCUSS: CMEGROUP RECORD INTERNATIONAL AVERAGE DAILY VOLUME IN 2019. MOVERS AND SHAKERS FOR THE WEEK. TRADES IN EQUITIES, CRUDE, GOLD AND SILVER. STRANGE SHIFTING NARRATIVE ON THE WEEK IN CRUDE - SUPPLY REDUCTION FROM LIBYA TO START THE WEEK AND THEN ONE-TWO PUNCH OF A SUPPLY GLUT AND DISEASE FEARS. OIL: IS MIDEAST RISK PREMIUM TOO LOW?  GOLD FUTURES MARKED THEIR HIGHEST SETTLEMENT IN OVER TWO WEEKS AS THE SPREAD OF THE CORONAVIRUS IN ASIA FED RISK-OFF SENTIMENT AMONG TRADERS, PRESSURING GLOBAL STOCK MARKETS AND U.S. BOND YIELDS, AND BOOSTING HAVEN DEMAND FOR THE PRECIOUS METAL. AND MUCH MORE...      

TWIFO 183: Bitcoin Options Are Finally Here HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: SEAN SMITH, MD OF DERIVATIVES LICENSING, FTSE RUSSELL GUEST: NICK HOWARD, BANTIX TECHNOLOGIES CRYPTO CME BTC FUTURES CRAZY WEEK LEADING UP TO OPTIONS LAUNCH FRIDAY -  13,522 THURSDAY - 10,500 WEDS: 17K TUES: 12K MON: 6,600 OI HIT 7 MONTH HIGH OPTIONS - 54 CONTRACTS OPENING DAY EQUITIES VIX: 12.2 - DOWN .75 FROM LAST SHOW VVIX:89.25 -  DOWN .25 FROM LAST SHOW RVX: 14 - DOWN 1 FROM LAST SHOW  VIX/RVX SPREAD - APPROX. 1.8 - SLIGHTLY TIGHTER THAN LAST SHOW SOYBEANS -2,15% THIS WEEK SOYBEAN OIL DOWN NEARLY 5% VOL CRUSHED THIS WEEK AFTER TRADE DEAL SIGNING LOOKING AT AG VOLATILITY RATES INSANE STUFF GOING ON IN EURODOLLARS DOWNSIDE RIGHT NOW. BREAKING DOWN SOME FUNKY EURODOLLAR PUT SPREADS  FUTURES OPTIONS FEEDBACK QUESTION FROM TAMISH: THE FTSE REP ON THE PROGRAM MENTIONED THE STRONG INTERNATIONAL DEMAND FOR RUT OPTIONS AND FUTURES. THIS SURPRISED ME BECAUSE THE INDEX IS PRIMARILY DOMESTIC. WHAT ARE TH

TWIFO 182: Kicking Off A New Decade of Futures Options HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: SEAN SMITH, MD OF DERIVATIVES LICENSING, FTSE RUSSELL CME Group Reports 2019 Annual Volume and Monthly Market Statistics - https://www.cmegroup.com/media-room/press-releases/2020/1/03/cme_group_reports2019annualvolumeandmonthlymarketstatistics.html Average daily volume (ADV) of 19.2 million contracts during the year and 15.5 million contracts during the month of December.  Open interest at the end of December was 113 million contracts. Market statistics are available online in greater detail at https://cmegroupinc.gcs-web.com/monthly-volume. Annual highlights across asset classes include: Record 40 trading days with volume over 25 million contracts, up 29% from 35 days in 2018 Record Interest Rate ADV of 10.3 million contracts per day, up 4% from 2018 Record Metals ADV of 668,000 contracts per day, up 5% from 2018 Record Options ADV of 4 million contracts per day, up 2% from 2018 EQUITIE

TWIFO 181: The Highs and Lows of 2019 HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: SEAN SMITH, MD OF DERIVATIVES LICENSING, FTSE RUSSELL CME HOTSEAT GUEST: RUSSELL RHOADS, HEAD OF DERIVATIVES RESEARCH, TABB GROUP WHAT WERE THE MOVERS AND SHAKERS IN FUTURES OPTIONS FOR THE YEAR? TOP 5  PALLADIUM: + 58% NASDAQ 100 EMINI: + 35.8% CLASS 3 MILK: +35.5% EURODOLLARS: 34.5% WTI: +31.5% EQUITIES TRADE WAR OPTIMISM LIFTING MARKETS, CRUSHING VOLATILITY VIX: 12.5 - DOWN 2 FROM LAST SHOW VVIX: 98.75 - DOWN 4.75 FROM LAST SHOW RVX: 14.25 - DOWN 2.75 FROM LAST SHOW  VIX/RVX SPREAD: 1.75 - MUCH NARROWER FROM LAST SHOW DON'T LOOK NOW BUT SMALL CAPS ARE BREAKING OUT CRYPTO CME Bitcoin futures (BTC) turn two on Wednesday, December 18.  FUTURES OPTIONS FEEDBACK QUESTION FROM AVAST!: What were your surprises for the year in fut-opts? QUESTION FROM ANGEL: Is there a level at which the rvx/vix trade becomes particularly attractive.

TWIFO 180: Metals Mysteries and Yield Curve Conundrums HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CME HOTSEAT GUEST: ERIK NORLAND - EXECUTIVE DIRECTOR AND SENIOR ECONOMIST WHAT WERE THE MOVERS AND SHAKERS IN FUTURES OPTIONS THIS WEEK? RECENT CME RESEARCH METALS   QUESTION FROM MELTIM: Do you buy that metals only selloff when the calls are bid?   QUESTION FROM ELION: Any follow up data on the cme metal skew study? I find that one somewhat perplexing. Gold and Silver Options Pointing to a Pullback https://www.cmegroup.com/education/featured-reports/gold-and-silver-options-pointing-to-a-pullback.html Silver and gold options achieved exceptionally positive skewness late this summer. Exceptionally positive options skewness often precedes corrections. Even as of mid-October, gold and silver options skews remain unusually positive. Industrial Metals: Can Demand Meet Supply Challenge  https://www.cmegroup.com/education/featured-reports/industrial-metals-can-demand-meet-supply-challenge.html Two deca