Trading Block: A review of the week from a trading perspective

• Earnings: Thursday - Amazon, McDonalds, Comcast, Starbucks, Nokia
• Friday - Twitter, Merck
• Facebook (FB) is 'face-planting' after hours tonight.

Earnings Flash Poll: Facebook (FB) is getting crushed post-earnings, trading down nearly 20% after-hours. Assuming it opens at that level, what's your next FB options trade? Other suggestions? Submit them below:

• Buy Calls/Spreads
• Buy Puts/Spreads
• Sell Puts/Spreads
• Sell Calls/Spreads
• Comment from ProBuck:Sell OTM monthly puts
• Comment JackDanielsTrades:Prob stay away

Odd Block: More Jan 2019 50 Puts in Tesla Motors

Strategy Block: Uncle Mike Tosaw discusses pros and cons of getting long Facebook.

Mail Block: Listener questions and comments

Volatility Flash Poll: VXX is back in the erosion zone. Many short vol traders are anxiously waiting for it to break the 30 handle. When do you think VXX will finally break 30? This week? Next Week? Never? Let us know below:

• 5% - Week Ending Fri 7/20
• 32% - Week Ending Fri 7/27
• 32% - Week Ending Fri 8/3
• 31% - Never! I'm Long Vol!

Listener question:

• Question from Allen T. -Does it count as a calendar if it’s on two different underlyings? Or is that more of a pairs trade?

Around the Block/This Week in the Market:

• Jul 27 - GDP, Consumer Confidence