Option Block 737: VIX Roars while Musk Dances

Trading Block: The week in trading (so far!) VIX is back over 14! Earnings: Tuesday - Home Depot Wednesday - Macy's, Cisco Thursday - Walmart, JD.com, Nordstrom, Nvidia Friday - John Deere Odd Block: Shares surge in Rent-A-Center Inc. (RCII) (from 6/18), put spread in IQIYI Inc. (IQ) (from 6/21), ratio call spread in Melco Resorts & Entertainment (MLCO) (from 6/4) Mail Block: Listeners take over QOTW: This week we would like to know more about your level of #options expertise. Quite simply - how would you describe yourself at a dinner party? Current/Former Pro Retail Options Wiz Retail Options Dabbler Looking to Get Started Listener questions and comments: Comment from CNelsen - Puts, calls. Calls, puts. Does it really matter? Question from Ling - I've heard some educators say that you should never hold out for the max profit in an options spread trade because that means you held onto it too long. Is this the case? Do you agree? Thx. Question from GunPowderJim - How do you calculate profit/loss on a ratio spread? If I buy 1 call and then sell 2 more do I average across the 3 contracts to determine the P/L on the spread? Around the Block/This Week in the Markets: Aug 14 - Import and Export Prices Aug 15 - Retail Sales, Industrial Production, Treasury International Capital Aug 16 - Jobless Claims, Housing Starts Aug 17 - Consumer Sentiment