In this post-Christmas episode of The Hot Options Report, Mark Longo breaks down a high-stakes, shortened trading week. While the holiday session started light, volume poured into the heavy hitters by the closing bell. We go "around the horn" from Broadcom to Nvidia, tracking the dominant option chains and the "0DTE" expiration trades that won (and lost) the day.

• #10 Broadcom (AVGO): Opening call action at the 352.5 strike. Did the late-day rally save the bulls?

• #9 Amazon (AMZN): A 232.5 call battle. We analyze the 40-cent premium and why the "Amazonians" were left wanting more.

• #8 AMD: 54,000 contracts on the 215 calls as the stock sits a penny shy of the strike.

• #7 Netflix (NFLX): 94.5 calls seeing heavy volume for just a dime.

• #6 Meta: A rough day for the 665 calls as Facebook's successor slips.

• #5 MicroStrategy (MSTR): "The Monster" reverses losses. Why the 160 call sellers are the big winners today.

• #4 Apple (AAPL): 128,000 contracts on the 275 calls. A deep dive into the 30-cent premium trap.

• #3 Palantir (PLTR): The Trade of the Day. We break down the 190 puts that turned 41 cents into a $1.29 windfall.

• #2 Tesla (TSLA): 3.15 million contracts. A massive sweat for the 480 call sellers as Tesla dips 2%.

• #1 Nvidia (NVDA): The undisputed king of the tape with 3.25 million contracts. We look at the 192.5 call frenzy.

• Intraday vs. Closing: Why "writing it into the close" was a dangerous game for call buyers this Friday.

• Winning Put Spreads: A look at how Palantir's volatility offered the best ROI on the board.

• 0DTE Dynamics: Analyzing the decay of cheap "lotto ticket" premiums in a post-holiday environment.

• Free Options Data: Get the professional-grade data mentioned in the show for free at HotOptionsReport.com .

• Options Insider Pro: Join the community, get the Pro Trading Crate, and access the upcoming Vol Death Match 2.0 at TheOptionsInsider.com/Pro .

• Mobile App: Access the full Radio Network on iTunes and Google Play .

In the final Volatility Views of 2025, host Mark Longo is joined by Russell Rhoads (Dr. VIX) and Michael Listman (UVXY Trader) to dissect a wild year in the markets. From the "Santa Claus Rally" to the crushing of the VIX, we break down what traders need to know heading into 2026.

• Volatility Review: A look at the S&P 500 hitting all-time highs and the recent "volatility execution." Why did the Santa Rally take so long to arrive?

• UVXY Deep Dive: Michael Listman breaks down the UVXY reverse split mechanics. We discuss why liquidity is the best argument for UVXY and how to manage the "beta slippage" game.

• The Pairs Trade: Exploring the strategy of pairing UVXY vs. SVXY (or SVIX) to capture slippage while managing directional exposure.

• VIX Term Structure: Why the current curve is "steep" and what a 5-point premium in February futures says about 2026 market expectations.

• VIX Options Flow: Analyzing the "Jan 17 Puts" and the mysterious ongoing activity in the VIX 200 strike puts.

• The Crystal Ball: The team places their final VIX cash predictions for the first week of January 2026.

• The "VIX Wizard": Why volatility arrives precisely when it means to (and how to monetize puts before they expire).

• Reverse Split Strategies: Does a 1-for-5 or 1-for-10 split actually change the trade?

• The "Weekend Trade": Russell's strategy for holding UVIX/UVXY over the weekend to catch volatility events.

• Russell Rhoads (Dr. VIX): Follow him on X/Twitter @RussellRhoads .

• Michael Listman: Follow him on X @UVXYTrader or visit UVXY.pro .

• Options Insider Pro: Get the Pro Trading Crate and join the Vol Death Match at TheOptionsInsider.com/Pro .

• TastyTrade: Check out advanced tools for options and futures at TastyTrade.com/podcasts .

In this episode of Options Boot Camp, your drill instructors Mark Longo and Dan Passarelli dive back into the trenches to tackle a recurring nightmare for retail traders: why "perfect" vertical spreads sometimes result in losses. Following up on a "horror story" from a previous episode involving Marvell (MRV), the team breaks down the mechanics of spread books, broker liquidations, and the hidden risks of trading around major events.

• The Marvell Meltdown: A deep dive into a listener's trade where a winning call vertical on MRV resulted in a loss due to after-hours volatility and broker liquidation.

• The Reality of Vertical Spreads: Why the P&L diagram is only half the story. We discuss why vertical spreads often perform worse than expected prior to expiration and the role theta plays in the final payoff.

• Legging vs. Spread Orders: When should you attempt to "leg out" of a spread? Dan and Mark discuss the risks of delta exposure when breaking apart a vertical in a fast-moving market.

• Broker Routing & PFOF: How Payment for Order Flow and specific broker "spread books" (like Robinhood's) can impact your execution quality, especially in illiquid names.

• Market Maker Psychology: What determines the width of a bid-ask spread? Dan explains how volatility risk and liquidity determine the "toll" you pay to enter and exit a trade.

• Mail Call: The team answers listener questions about avoiding spreads during earnings and the rise of prediction markets (binary betting).

• 00:00 – Introduction and The Quintuple Content Palooza

• 03:15 – Follow-up: The Marvell Vertical Spread Disaster

• 07:45 – The pros and cons of "Legging" out of a trade

• 12:20 – Tips for dealing with unresponsive brokers during liquidations

• 16:30 – Market Taker Question: What drives the Bid-Ask Spread?

• 21:10 – Prediction Markets: Is it a trade or a bet?

• 25:40 – Silver and Crypto: The Question of the Week

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