Option Block 532: Dead Pro Wrestlers. And Brexit

Trading Block: Fed keeps rates unchanged, lowering odds for future hikes. Weak Nonfarms number derailed any Fed plans to raise in June. Earnings today: (before the bell) Oracle Corporation; (after the bell) the Kroger Co, Rite Aid Corporation. CME Fedwatch tool: July probability: 7% Sep: 29% Nov: 31% Dec: 47% Options Question of the Week: $VIX surging ahead of FOMC, but for how long? Where will $VIX cash close Friday 6/17? 19% - 18-20 range 47% - 15-17.99 range (Winner) 25% - Above 20 09% - Below 15 Odd Block: Calls trade in Activision Blizzard Inc. (ATVI), calls trade in iShares Barclays 20+ year Treasury ETF (TLT) and calls roll in Wells Fargo & Co. (WFC). Mail Block: Listener questions and comments Question from Vegan: For an options newbie, how would I construct a trade with most possibilities to win? I understand that the potential profit might be small. What time frame is good as well? Question from Jim Duggan: FOMC and Brexit are approaching. What are some good ways to use options to play Brexit or FOMC? Question from John Doe: Do you have any specific strategies near or on expiration to profit from theta decay. Around the Block: Brexit coming up on 6/23. Fade it? Buy into it? Much ado about nothing?