The all-star block discusses who will explode first: EK or AMR? Greece strikes again. Unusual activity in AMR, MDR, LVS. Coming up…SPXpm. Exercise fees, jobless claims, and whack-a-mole, bankruptcy-style.

Trading Block: The market rallied on stronger than expected GDP numbers, and a little ease on European concerns, combined for a strong up move early in the day. Thirty-year rate is 4.01% — the lowest on record. Rumors of Amazon getting into the tablet wars — stock down 3%. With Amazon in its territory, Apple moved to the downside — is it time to be bullish? The spread between VIX and VXN continues to widen. Odd Block: Unusual activity in Dollar General (DG) – size call sales going up for the past couple of months. Dreamworks Animation Skg. (DWA) – been on a downside tear over most of the last year, as high as 38 early November last year, straight down since then, trading near 18 now. Looks like someone is trying to protect some downside and decided to put on the puts and end the free fall. Strategy Block: Mike Tosaw dispenses some vintage options wisdom, discussing the concept of dollar cost averaging. Around the Block: Ford hovering at the 10 strike. Apple earnings out October 18; CBOE earnings out October 5. A lot of energy stocks are at lower levels now.

Trading Block: The relationship between VIX and VXN, how it could have helped you. Late session rally on European hopes. The Metal-pocalypse continues – where is the bottom? Sell-offs in both GLD and SLV. EK crushed to the downside…again — CDs upfront premium not at 41%! Groupon's ponzi scheme continues — restated their entire 2010 results and slashed revenue in half. Odd Block: Harry Winston Diamond Corp. (HWD); Hasbro, Inc. (HAS);Novagold Resources (NG)Xpress Block: Tim Navabi runs through the top moving stocks and commodities over at OX today. Also a little overview on the use of settled and unsettled funds. Around The Block: Jobless claims on Thursday as well as GDP. Greek debt still on the horizon. The bulk of today's rally come after the lessening of those concerns, but the outlook on that changes frequently — things could get either really good or really bad.

Trading Block: A sea of red in the market today – recession fears slam everything except treasuries. VIX cash gaps up yet again — VIX futures outlook. Metals/Commodities rundown – everything down across the board, with gold down as well, but no rolling down will be taking place before the weekend. Ford below the $10 handle. Odd Block: Yahoo! – (YHOO) Following an upgrade at Stifel, Nicolaus from "Hold" to "Buy" with a price target of $18.00, shares are on the plus side this morning. The analyst stated "the likelihood of a buyout has increased to 80%." Looks like some folks are betting on a buyout over the next few weeks. Bank of America – (BAC) Some large option players are "raising the white flag" in Bank of America Corp. (BAC) today with two large blocks of call options being sold on the bids and most likely closing out previous bullish positions. Perhaps most painful, someone dumped over 100k Jan 20 calls for $0.01! Covanta Holding Corp – (CVA) Stock has been hammered over the past few days. Someone thinks it’s overdone and bought a size bullish risk reversal. Range Resources Corp – (RRC) Looks like those upside specs on the 70 and 75 strikes could have paid off. Xpress Block: Tim Navabi runs down the daily goings on at OX. Today was a day for risk management. There's always a tomorrow in the market. The tools available on the OX are here to the rescue. Strategy Block: Mike Tosaw discusses his profound belief that we will get through our current financial situation. But you need some type of plan in place for down days like today. Around The Block: A lot of concern going into the weekend. Another good time to have some units in you back pocket. VIX option implied volatility exploded today, selling premium does not make sense. Has the bleeding stopped at Netflix for now? If you're thinking of playing in inverse ETFs or options on the ETFs, the margin requirements are tighter on the inverse ETFs. Apple held onto 400 today – a flight to safety.

Trading Block: The "Widowmaker" (NFLX) CEO apologizes for the screw up with their pricing and thusly losing 1 million customers and the stock dropping 50% since the price increases in July. Could Netflix split into two separate businesses? Lenders tell Greece to get its act together and reduce the size of its government, or run out of cash within a few weeks. Metals/Commodities rundown — collaring gold until November. Oil really took it on the chin due to uncertainty in Europe. The Odd Block: Range Resources Corp. (RRC) saw its shares pop late this morning on news out of DealReporter that the company has been approached by a non-U.S. suitor. Cypress Semiconductor Corp. (CY) sees an early bearish put buyer this morning with the focus on the near month at-the-money contracts. Amerigroup Corp. (AGP) Interesting Option activity in ahead of the company’s analyst meeting in New York tomorrow morning. Xpress Block: Rob Kurzatkoski discusses the goings on today at OX, including Netflix and the recent and strange gold and S&P relationship. Strategy Block: In this strategy block, Andrew Giovinazzi talks strategy about the [[[[[[meta]]]]]]ls/gold frenzy that is consuming everyone these days. Around The Block: Housing starts tomorrow and existing home sales on Wednesday. Is housing a good indicator of the market? FOMC Wednesday — their relevance is fairly benign given they're holding fast for the next couple of years. Also, Jobless claims Thursday.

TRADING BLOCK: Research in Motion (RIMM) – The future looks bleak. "The Widowmaker" strikes again – Netflix (NFLX), which was trading $300 just two months ago, down 40%. Yet another "rogue trader" on the loose – this time it costs UBS $2 billion. Commodities rundown – gold is coming down, is this the right time tighten up your hedges? ODD BLOCK: Unusual and interesting options activity in: UBS AG (UBS) – a staggering $2 billion lost in trading as a rogue trader racked up unauthorized dealings. Call buying and put selling on the stock appear to be the most employed strategies of the day, with investors expecting shares to recover in the next five weeks. Amerigroup Corp. (AGP) – ahead of the company's analyst meeting in New York tomorrow morning, an opening buyer appeared in the September 45 Calls, paying the offers of $0.25-$0.35 for approximately 3500 contracts. These options expire tomorrow after the close so these trades will need the stock to climb another 4.6% to begin to see any profits. XPRESS BLOCK: Tim Navabi takes the reins and discusses the hectic day today at OX due to "The Widowmaker" aka Netflix, as well as the upcoming expiration of September futures. STRATEGY BLOCK: Mike Tosaw illuminates us on some in-depth options strategy. First, with the upcoming expiration, if you're not ready to hold a stock and you're short a put, maybe you'll want to close out those penny options. Second, make sure you know position delta before doing ratio spreads. AROUND THE BLOCK: An update on RIMM. Still some concern over Greece, also some concern about expiration upcoming. Not too much else lighting up the tape on the earnings front though. Play it safe this weekend.