Volatility is back with a vengeance! In this episode of This Week in Futures Options, host Mark Longo and Carley Garner (DeCarley Trading) break down a "blood red" Thursday as equity indices struggle to hold their gains and the energy complex reaches a boiling point.

From the "Queen of Crude" to the "Widow Maker," we dive deep into the massive volatility shifts hitting the CME Group markets. Is the stock market repeating last year's April pattern? Why is gold behaving like a risk asset instead of a safe haven? And what on earth is the "Oats Knows" indicator telling us about the grains?

On the Dossier:

• Movers & Shakers: A 60/40 bias toward the dark side, led by a massive drop in Oats and Silver.

• Equities: Analyzing the "orderly" sell-off in the S&P and Nasdaq—and why the elevated VIX has us nervous about hidden leverage.

• Energy: WTI crude enters triple-digit volatility. Carley explains why "it all ends in tears" and offers a clever way to play the energy trade through the Japanese Yen.

• Metals: Gold breaks its traditional playbook. We look at the 4,100 "line in the sand" and why silver speculators have officially left the building.

• Agricultural: A flip in corn skew and how to use the grains to play the war without the "triple-digit" volatility of crude oil.

In this episode, Mark Longo and Dan Gramza dive deep into the massive dislocations hitting the futures and options markets as Middle East tensions escalate. While WTI remains surprisingly range-bound, the Brent spread has widened to levels not seen in over a decade. Why isn't gold acting as a safe haven, and what is the "put bomb" currently dropping in the S&P 500?

In this episode, we cover:

• Movers & Shakers: Heating Oil and Lumber lead the bulls, while Silver and Platinum take a massive hit.

• Energy: The 11-year high in the Brent/WTI spread, the impact of the Strait of Hormuz, and a look at the massive 1x3 vertical calls in Brent.

• Equities: Why the S&P 500 remains "orderly" despite the volatility, and a look at the heavy 6500 put activity.

• Metals: The missing "flight to quality"—why Gold is selling off during a geopolitical crisis and what the 35+ vol means for traders.

• Nat Gas: Assessing the damage to global LNG facilities and the neutral zone between $2.90 and $3.30.

This week, we aren't just talking about movers—we're witnessing a historic disruption in the energy markets.

We dive deep into the explosive price action and triple-digit volatility in WTI Crude Oil, where mining in the Straits of Hormuz and tanker attacks have sent WTI and Brent soaring. Is the "par" level the new floor? We break down the massive volume in May 95 calls and the 120-strike volatility crush.

In this episode, we cover:

• Movers & Shakers: Why the light side is dominating with double-digit gains in Energy and Platinum, while Financials lead the slide to the dark side.

• Equities: A "banger week" for the E-mini S&P 500. We analyze the massive 23% bid in put skew and the 6500/6400/6300 put fly lighting up the tape.

• Small Caps: Is the rotation dead? We look at the spike in Russell 2000 volume as it flirts with negative territory for the year.

• Energy Deep Dive: A "ridiculous" amount of volume in Crude. We look at the 95/Par vertical and what December 120 calls tell us about the geopolitical outlook.

Don't miss this breakdown of the volatility swings, skew changes, and hot trades at CME Group.