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 HERE?
• QUESTION FROM PIERCE: IS THIS REALLY A CRUDE BLACK SWAN? PEOPLE THEORETICALLY THOUGHT THAT CRUDE COULD GO NEGATIVE. ISN’T A BLACK SWAN SUPPOSED TO BE COMPLETELY UNFORESEEABLE?
• QUESTION FROM JANPECK: WHAT IS HAPPENING TO USO?
• QUESTION FROM TMAL: WHAT DO YOU THINK OF USO AT THESE LEVELS?
• QUESTION FROM MM87: DID THE USO ROLL CAUSE THIS?
• QUESTION FROM DAMANATEE: IS USO JUST ANOTHER XIV?
• QUESTION FROM BANTAM: WHAT THE HECK IS USO NOW?
• QUESTION FROM SG90D: THOUGHTS ON THE 8-1 REVERSE SPLIT IN USO? 
• QUESTION FROM SAMUELPBOWIE: JUST STARTED TUNING IN...WHEN DO YOU SEE HIGH DEBT US SHALE PRODUCERS START DEFAULTING ON LOANS?
• QUESTION FROM JLC: WHY IS RUT SO VOLATILE
• COMMENT FROM MBOTT: IT ROLLED BECAUSE THE INDEX METHODOLOGY IS, OR AT LEAST WAS, TO SELL NEAR TERM CONTRACTS TO BUY NEXT TERM CONTRACTS.  THEY DID NOT FACTOR IN THE POSSIBILITY OF THESES EXTREME SPREADS BETWEEN THOSE CONTRACTS WHICH LED TO MASSIVE NEGATIVE ROLL YIELD.  THEY WILL PROBABLY NOW CHANGE THE METHODOLOGY TO GO FURTHER OUT THE CURVE, BUT IT’S TOO LATE IMO

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 VOLATILITY?
• QUESTION FROM TURKINSTOCK: I AM AN OPTIMIST LIKE SEAN. HOPING THIS CORONAVIRUS STOPS CAUSING DAMAGE TO OUR ECONOMY. SHOULD I BET ON A SUSTAINED REBOUND IN RUSSELL 2000 BY THE END OF THE YEAR?

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 DISCUSS WHAT CME IS DOING TO FIX IT FX OPTIONS?