Trading Block: Welcome to our 500th episode. Today's special panel includes: Mark Sebastian, Mike Tosaw, Andrew Giovanazzi, and our must beloved former panelist Alex "The Viceroy" Jacobson. They discuss:

• How many exchanges are too many exchanges?
• Options Insider question of the week
• The SEC
• Citadel
• Transaction fees
• Talking free of compliance issues
• And so much more...

Odd Block: Rolling calls in Coca-Cola Company (KO), calendar spreads trade in Time Warner Cable (TWX), and put sellingHess (HES)

Mail Block: Listener questions and comments

• Question from TennisGr8: I've been hearing a lot lately about gamma scalping. How does it work, and who should use it? Is this second-order greek becoming the new options darling?

Around the Block: Are the bulls back in force? Always be prepared for a downturn.