Trading Block: One week later, how is everyone doing? SPY is back in rally mode. VIX back in the mid-20s. It's been a wild week for CBOE. Stock took a hit, threatened $100, now rallying up 4%. Earnings this week include APRN, before the bell tomorrow. ATM straddle $0.65, approx. 20%. Volatility's awakening spurs a record long position in VIX Futures

Odd Block: Review from 2/8: Someone unloading calls in (UNP), Pre earnings action in Under Armor (UAA).

Mail Block: Options question of the week

VIX is moving like crazy today. It's already blown past 23 and is threatening 35. So let's dial up our $VIX threshold for extra #ZombieApocalypse fun. You buying or selling these levels? Quite Simply: Where will $VIX close on Friday?

• 21% - Crazy Town: 30-35
• 22% - ZombieApocalypse: >35
• 19% - Crazy: 25-30
• 38% - Mildly Crazy: