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Trading Block: There was a mild selloff after a crazy week of post-cliff rallies. CBOE marketing reports “Biggest weekly decline in the history of the VIX.” Consumer electronic tech show may add vol to the market. Apple vol is back, and has been quite a seesaw the past week. Amazon rallying on upgrade. Earnings season kicks off tomorrow!
Odd Block: Closing calls trade in Quiksilver Inc. (ZQK), and opening calls trade in Vodafone Group plc (VOD).
Xpress Block: Premium selling. ?The top two names of the day were Apple and Amazon. Using spreads.
Listener Mail: The all-stars answer your questions.
Email from Dustin Hunter: Hi Guys. Two questions. First, I am becoming increasingly interested in understanding what happens when I enter an option order behind the scenes. You’ve talked a lot about the number of exchanges, but I really don’t understand the differences between them or who their end-client really is. Is it me the retail trader or is it really the brokerage I use? I honestly pay no attention to the different exchanges my brokerage uses and choose to use their smart routing. Should I be digging deeper? Second, is it wrong that I giggle more at an option podcast most of the others? My wife thinks something is wrong. Keep up the good work. More interviews please. Dustin
Around the Block: Earning season kicks off with Alcoa after the close tomorrow. (1000 Jan 5 2014 puts sold today for $.07)