Trading Block: A review of the week in trading

• Amazon and Apple: The race to $1 trillion.

Earnings!

• Thursday - Microsoft
• Friday - GE, Honeywell
• MSFT (after the bell) - $104.70, ATM straddle: $3.70, approx. 3.5%

Odd Block: Bullish risk reversal in Discovery Communications Inc. (DISCA), Rolling call speeds in Omnicom Group Inc. (OMC), Call 3-way in Hanesbrands Inc. (HBI)

Strategy Block: Uncle Mike Tosaw discusses options pairs vs. stock pairs.

Mail Block: Listeners weigh in

Volatility Flash Poll: $VXX is back in the erosion zone. Many short vol traders are anxiously waiting for it to break the 30 handle. When do you think $VXX will finally break 30? This week? Next Week? Never? Let us know below:

• Week Ending Fri 7/20
• Week Ending Fri 7/27
• Week Ending Fri 8/3
• Never! I'm Long Vol!

Last week's option question of the week: Yup it's earnings season once again. Options traders are gearing up for a busy season. Which names do you think will dominate your options trading this season?

• 17% - $NFLX
• 44% - $AMZN
• 22% - $TSLA
• 17% - $GOOGL

Around The Block/This Week in the Markets:

• Jul 19 - Jobless Claims