Is soybean oil the new crude? As energy markets continue to dominate the headlines, Carley Garner (DeCarley Trading) joins Mark Longo to break down a wild week in the futures and options pits. From WTI crude skyrocketing toward $110 to the S&P 500 hitting "obscene" new intraday highs on the back of AI spending, the markets are anything but quiet.

In this episode, Mark and Carley discuss:

• Energy Overdrive: Why WTI crude is seeing massive volume in the June $120 calls and July $70 puts.

• The "Secret" Substitute: Why traders looking for lower risk and high correlation are moving from WTI to Soybean Oil.

• Equities on Fumes: A look at the "insane" S&P 500 rally—is it fueled by AI infrastructure or just "fake money" in the system?

• Natural Gas Strategy: Why the $3.00 level is the focal point and how to scale into long positions with minis.

• Ag & Livestock: A "toppy" look at Live Cattle and why the seasonal trend favors the bears.

In this "Just the Facts, Ma'am" edition of This Week in Futures Options, Mark Longo breaks down a bifurcated week at the CME Group. With volatility creeping back into the equities and geopolitical tensions lighting a fire under energy, we examine the massive shifts in skew and volume across the complex.

On the Docket for Episode 494:

• Movers & Shakers: Why silver and soybeans are heading to the "Dark Side" while RBOB and KC Wheat lead the "Light Side."

• Equities: High-volume 0DTE action in the S&P 500 and a rotation check in the Russell 2000 (IWM).

• Agricultural Spotlight: A deep dive into the massive vol explosion in KC Wheat and the unusual wing-buying in Soybean Oil.

• Energy: WTI Crude vol is threatening triple digits. We analyze the 110/120 call spreads and the crumbling put skew as traders brace for more upside.

Is it time to give the markets the "Big Adios"? Host Mark Longo and guest Dan Gramza of Gramza Capital Management break down an explosive week in the futures options markets. From relief rallies in equities to the curious behavior of the "safe haven" play in gold, we're dissecting the top movers and the most aggressive options paper hitting the tape.

• Movers & Shakers: A heavy bias toward the light side this week. We analyze the 8% surge in Hard Red Wheat and the massive 4.7% climb in the NASDAQ 100.

• Equities Spotlight: S&P 500 (ES) is hitting new all-time highs. Is this the "mother of all relief rallies," or are new sellers preparing a trend change? Plus, a look at the heavy 0DTE action around the 7100 level.

• Metals (Copper & Gold): Dan explains why he's skeptical of the copper rally and shares a "Big Adios" level for the red metal. We also explore the broken traditional playbook for gold during Middle East conflicts and its relationship with the 10-year yield.

• Energy (WTI Crude Oil): Crude is vacillating near the $91 mark. We break down the June par calls, the $65 puts, and why the "hopium" regarding Middle East de-escalation is driving the current term structure.

Check out the Movers & Shakers report and more at CMEGroup.com/TWIFO .

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Is the energy rally finally running out of steam? In this high-octane episode of This Week in Futures Options, host Mark Longo is joined by Mike Tosaw of St. Charles Wealth Management. Together, they dissect a massive reversal in the markets as crude oil takes a double-digit tumble while equities stage an aggressive relief rally following headlines of a potential U.S.-Iran ceasefire.

From the shifting volatility in WTI to the surprising resilience of small caps, we break down the institutional flow and retail sentiment across the CME Group complex.

In this episode, we cover:

• The Movers & Shakers: A look at the "dark side" dominated by Energy (WTI, Brent, and Heating Oil) versus the "light side" led by Bitcoin and the Russell 2000.

• Equities (S&P 500 & Russell 2000): Analyzing the 24-hour market's reaction to geopolitical news and the aggressive rotation back into small caps.

• Energy Deep Dive: Why WTI volume is 2x the normal average and what the "par" strike (100) tells us about future price action. Plus, a look at the bizarre "volatility flip" between Crude and Natural Gas.

• Interest Rates: Examining the 10-year note, the disappearance of the inverted yield curve, and why puts are back on the menu for rates traders.

In this episode of This Week in Futures Options, Mark Longo dives into a wild week of trading dominated by headlines surrounding the Iran conflict. From massive moves in WTI Crude to a fascinating rotation in the Russell 2000, we break down the movers and shakers lighting up the tape at CME Group.

In this episode, we cover:

• The Movers & Shakers: Why WTI Crude Oil topped the list with an 18% move while Natural Gas continued its slide to the "dark side."

• Safe Havens vs. Risk Assets: A look at Gold, Silver, and Platinum's performance during geopolitical uncertainty.

• Equities & Small Caps: A deep dive into the Russell 2000 (RTY), exploring the 2300 put spreads and why puts dominated the tape despite a late-week rally.

• Volatility & Skew: Analyzing the 7-point drop in small-cap volatility and how skew is shifting in the April contracts.

Whether you're a veteran trader or a newcomer, tune in for the data-driven insights you need to navigate today's volatile futures options marketplace.

This episode is brought to you by CME Group.

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.