The markets are showing a splash of green as we break down a wild week in trading with The Flowmaster Henry Schwartz (Cboe Global Markets) and Uncle Mike Tosaw (St. Charles Wealth Management). From the unprecedented 20% weekly surge in Silver to the aggressive rotation out of Mag 7 tech and into Biotechs and Small Caps, this episode covers the critical moves every options trader needs to know. Plus, we look ahead to a heavy earnings week and reveal the panel's official 2026 VIX Crystal Ball predictions.

The Trading Block: The "Meme-ification" of Silver

• The Silver Surge: Why Uncle Mike thinks Silver has officially entered "meme stock" territory after a staggering 20% move in one week.

• Market Rotation: Is the Mag 7 reign over? We discuss the rotation into the Russell 2000 (IWM) and the energy sector.

• Volatility Check: VIX comes back to earth toward the 15 handle, but the VVX remains "frothy" at 98.

The Odd Block: Unusual Activity in Small-Cap Tech and Bio

• Ardelyx (ARDX): Aggressive call buying in this biotech after a legal dismissal. Is there a clinical catalyst on the horizon?

• T1 Energy (TE): A massive sweep in the February 10 calls. Why Henry is keeping a "steely gaze" on alternative energy.

• Clearway Energy (CWEN): Unusual March 40 call buyers as the clean energy sector sees a resurgence.

The Mail Block: The 2026 VIX Crystal Ball

• The panel places their official bets on where the VIX will close on December 31st, 2026.

Around the Block: Earnings & Geopolitics

• Earnings Watch: Initial results from Goldman Sachs, Wells Fargo, and Taiwan Semi (TSM).

• Looking Ahead: Previewing moves for Netflix (NFLX), United Airlines (UAL), Intel (INTC), and Charles Schwab (SCHW).

• The Global Picture: Keeping an eye on Venezuela, Iran, and the upcoming STA Conference in Chicago.

It's a massive Thursday on the Hot Options Report (THOR) as host Mark Longo breaks down one of the most active trading sessions of 2026 so far. With nearly 800,000 contracts required just to break into the Top 10, the tape was on fire. We dive into the "on-again, off-again" dance between Nvidia and China, Intel's wild 25% year-to-date run, and a strange wave of deep-in-the-money and out-of-the-money puts dominating the tape in Apple, Microsoft, and Netflix ahead of Friday's expiration.

• #1: NVIDIA (NVDA): Still the undisputed king with 2.76M contracts. Rallying 2% on China export optimism, traders are eyeing the $190 strike for tomorrow's close.

• #2: Tesla (TSLA): A tug-of-war at $438. Over 100k contracts traded at the $450 strike. Can the bulls reclaim that level by the bell?

• #3: Netflix (NFLX): "The Widowmaker" puts up 1.3M contracts. Significant interest in the $105 OTM puts expiring tomorrow.

• #4: AMD: Substantial volume in the $235 calls despite a close below $228. Are traders "rolling the bones" or getting trapped?

• #5: Apple (AAPL): 1.08M contracts. Unusual activity in the $270 ITM puts as the "Fruit Company" sells off.

• #6: Meta (META): Bucking the "tech wreck" to rally back to $620. Funky paper hitting the $650 OTM puts.

• #7: Microsoft (MSFT): A rough start to the year continues. We analyze 75,000 contracts of the deep-in-the-money $495 puts.

• #8: MicroStrategy (MSTR): "The Monster" gives back some gains. 875,000 contracts on the tape with heavy action in the $175 calls.

• #9: Intel (INTC): Up 25% YTD but cooling off today. Is the "closing paper" at the Jan $50 strike a sign of a local top?

• #10: AbbVie (ABBV): Breaking into the Top 10 on X-Div action with 171k contracts in the Jan $210 calls.

• Semiconductor Sentiment: Between Nvidia's China news and Intel's massive YTD surge, chips continue to drive the lion's share of options volume.

• Expiration Fever: A recurring theme of massive put volume across Big Tech (Apple, Microsoft, Netflix) suggests high-stakes positioning ahead of the Friday options expiration.

• Market Heat: Why 800k contracts is the "new normal" for the Top 10 in 2026.

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Is the "Silver Rampage" the start of a massive new commodity super cycle? On this episode of The Futures Rundown, Mark Longo is joined by the newly minted VIX Crystal Ball Hall of Famer, Rich Excel, to break down one of the wildest weeks in commodity history.

While the "Tech Wreck" pulls down equities, the metals are lighting up the tape with silver posting a massive 19% gain in a single week. We dive deep into why "price insensitive buyers" are driving spot prices higher and what it means for your trailing stops.

• 0:00 - Intro & The VIX Hall of Fame Induction

• 3:45 - Metals Dominance: Why Gold led and Silver is finally catching up with abandon.

• 7:15 - The Energy Flare-Up: WTI, Brent, and Heating Oil's 10%+ weekly surge.

• 11:00 - Silver Squeeze 2026: Are we looking at $100 Silver? Analyzing the 100+ IV.

• 16:30 - Ag Markets & The Breakfast Table: Why OJ and Cocoa are cratering while everything else pops.

• 21:10 - VIX Crystal Ball 2026: Rich Excel gives his official "Revolutionary" year-end prediction.

• 26:45 - Hogwarts for Traders: How the derivatives experts are positioned for Q1.

• Brought to you by Tastytrade: tastytrade.com/podcasts
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