Daily Options Report

I rarely flip on CNBC these days, so as such miss classic moments like this one where they highlight some new Bong for the Rich called the Volcano Vaporizer. Hat tip Evan of Hedge->Accordingly, aka SellPuts.

It looks like, I don't know, if a Roomba married one of those glass laser balls from the 80's.

All I can say is, CNBC clearly knows the key to halting that nasty ratings slide remains in running more stories on pot and/or porn.

But hey, deep thought. Would I "get" Power Lunch if I...

I realized we can in fact chart "Volatility of Volatility". Here's the 20 Day HV for the VIX over the last 6 month's. And it has indeed more than doubled over the past few weeks from 60 to 130ish.

It's a little trickier to measure implied volatility of VIX options (not to mention confusing as it gets). VIX options price off their corresponding future, but I can't find a system that picks them up the stats correctly. They all base their VIX volatility calculation off the "spot" VIX. When spot...

With the volatility of the VIX itself exploding the last few days, and VXX and VIX futures somewhat lagging, what better time to refresh our knowledge of how these pups work.

By "volatility of the VIX", I mean the degree to which the VIX itself is moving. It rallied 20% on Thursday, than lifted another 10% Friday before closing flattish. That's volatility of volatility for you.

VIX futures "bet" on a snapshot of where the VIX will close on the day they expire. That expiration is 30 days before...

So our two silliest market indicators are in opposition for 2010. SPX declined in January, meaning of course that we're doomed. DOOMED. But the Super Bowl Indicator is guaranteed to flash Green Skies ahead. This, from Mark Hulbert.

The Super Bowl Indicator, as many market followers know, holds that stocks will rise over the coming year if the winning team can trace its roots back to the original National Football League -- and fall if that team's roots are in the old American Football League....