Option Block 882: The Depths of Market Madness

Option Block 882: The Depths of Market Madness HOST:  MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CO-HOST: MARK SEBASTIAN, THE OPTION PIT CO-HOST: MIKE TOSAW, ST. CHARLES WEALTH MANAGEMENT TRADING BLOCK SEGMENT THE WORLD HAS LOST ITS COLLECTIVE MIND: SAUDIS AND RUSSIA DECIDE TO RACE EACH OTHER TO THE BOTTOM IN PERHAPS THE MOST BEWILDERING PRICE WAR IN CRUDE HISTORY. NORTH KOREA DECIDES TO LAUNCH MORE MISSILES BECAUSE WHY NOT AND CIRCUIT BREAKERS TRIGGERED AT CME AND NYSE. BLOOMBERG WRITING ABOUT 100 LOT OF VIX CALLS VIX: 53- UP 16 FROM LAST SHOW VVIX: 143: UP 28 FROM LAST SHOW VXX: 35.35:  UP 10 FROM LAST SHOW ROBINHOOD APP HAD ANOTHER OUTAGE TODAY. ODD BLOCK SIZE MAT LITS PUTS SIZE KTB LITS PUTS REVIEW LBTYK CALL LOVE MAIL BLOCK QUESTION FROM TONY WEBER: THE GREASYIST OF MEATBALLS, WHAT IS YOUR FAVORITE VIX OPTIONS STRATEGY FOR +50 VIX? DO YOU SELL ITM SHORT TERM (MAR 17) CALLS AGAINST LONG TERM CALLS? IS THIS "VIX MADE STUPID?" QUESTION FROM ILIAN: THIS IS NUTS! I'M THINKING ABOUT STARTING TO NIBBLE AT THESE LEVELS. WHAT ARE YOUR PREFERRED WAYS TO USE OPTIONS NOW TO START NIBBLING WITHOUT LOSING MY SHIRT IF THE MARKET CONTINUES CRAPPING OUT? I DON'T WANT TO JUST LOAD UP ON OVERPRICED PUTS.  AROUND THE BLOCK WHAT'S ON OUR RADAR FOR THE REST OF THE WEEK?