Trading Block: Crude oil futures fell to seven-year lows - below $35. VIX: On Friday, it was up 28 percent at 24.72. Volatility the surest bet in stocks after Fed meets. Three U.S. fund sectors fear SEC proposal on derivatives may hurt ETFs.

Odd Block: Buying vertical call spreads in Console Energy (CNX), upside call purchase in Royal Caribbean Cruises LTD (RDL), selling June 37 puts in Mondale International Inc (MDLZ)

Strategy Block: Uncle Mike Tosaw discusses his recent SPY trades

Around the Block: All eyes and ears will be the Federal Reserve as they are expected to announce a possible rate change on Wednesday. But, there are several other economic events worth noting as well.

• Dec 15: Consumer Price Index
• Dec 16: Housing Starts, FOMC Announcement
• Dec 17: Jobless Claims