Trading Block: Dow off about 100 points in choppy trade, tries to stay out of correction. Goldman Sachs thinks this volatility index should be much lower:  The VIX is trading like the U.S. is in a recession. If the options market is right, China stock rescue is doomed.

Odd Block: Calls trade in UltraShort Euro ProShares (EUO), calls trade in Xerox Corp. (XRX), and calls trade in Arch Coal Inc. (ACI).

Strategy Block: Tosaw gives us an update of the things he has been doing, and why he has been doing them.

Around the Block: Earnings highlights of this week:

• Tuesday - Ambarella, Dollar Tree, H&R Block


• Thursday - Ciena, Medtronic