Trading Block: Gold, the Fed and volatility on this last episode before the holiday weekend.

Odd Block: Calls trade in Globalstar, Inc. (GSAT), calls roll in Michael Kors Holdings, Ltd (KORS) and call buyers in Eldorado Gold Corp (EGO)

Strategy Block: Uncle Mike Tosaw discusses the strategy of "boxing off"

Mail Block: Options question of the week, listener questions and comments

#QuestionOfTheWeek: Major market indices are pushing record highs. Everyone has protection on the brain. How do you protect your portfolio?

• Just Move to Cash/Bonds
• Protective ATM/OTM Put
• Put Spread/Ratio Put Spread
• Collar or Collar with a Kicker
• Question from Yukoner - Are covered calls still a viable strategy in a 401k these days?
• Question from Trader Taz1 - Do you have a broker recommendation for someone who is new to options? Maybe with a cash account, since I do not want to do margin?

Around the Block: Not much happening in the last week of the year.