Today's special guests are Joe Sullivan & JJ OKeefe, Chicago Capital Markets

Topics this week include:

S&P/Indexes
Floor-based execution
Volatility and skew
- Listener question: Do e-mini, SPY and SPX skew all line up in the same way?
Metals: Silver/Gold

Futures Options Feedback: Listeners weigh in

Question from Chris Thomas: Nick always talks about taking advantage of the skew. Creating a collar, buying the underlying, selling a call with high vol and buying cheap put protection or doing the opposite of that trade if the put has higher vol. I don't have as much experience with futures as I do indices, but "taking advantage of the skew" using spy for example would certainly have lost a ton of money over the past few years (if you shorted stock, sold puts and bought calls). I am definitely leaning more towards selling spreads on the side with high skew in futures because that has made a ton of money over the past few years in SPY and I don't seem to be making money on these collars. Any opinion on this? Anyways, thanks for everything you do and thank Nick for the awesome software.

This Week in Futures Options 64: Volatility Explosions Live from S&P 500 Options Pit