Option Block 232:  Crushing Inflation

Trading Block: Facebook goes after Google. Bank of Japan moving a lot today. S&P opened lower than gold for the first time since the flash crash. How high can the interest rate go?

Odd Block: Big calls trade in the S&P 500 VIX Short Term Futures ETN (VXX), more puts trade in Alerian MLP ETF (AMLP), and out month put buy in Bank of America Corp. (BAC)

Xpress Block: Rates, Yen and other Asian markets lit up the OX desk today. Citadel is petitioning the supreme court over the CBOE/ICE/SXP case.

Strategy Block: Tosaw clarifies the difference between market timing and risk management.

Around the Block:  Non-Farm payrolls come out in the morning. Rates will be a main focus.