In this episode, Mark Longo, Russell Rhoads (Dr. VIX), and Scott Nations dive deep into a massive divergence brewing under the surface of the equity indexes. While S&P 500 volatility is sitting quietly at seasonal lows, Nasdaq 100 volatility tells a completely different story as tech and AI anticipation ramps up ahead of Microsoft's pivotal earnings report.
**Key Topics Covered:**
- **The Volatility Review:** Breaking down a massive two-week crush that dragged VIX cash down nearly 4 points, alongside drops in VOLY and the VVIX.
- **The Nasdaq vs. S&P Divergence:** Scott explains how VolDex measures show completely different volatility regimes for tech vs. broad market index options.
- **The Tech "Canary":** Why Russell has Microsoft's upcoming July 29th year-end earnings report circled as the ultimate reality check for the AI boom.
- **VIX Futures & The Return of Volume:** June options volume just put up a historic 1.6 billion contracts. Why are traders suddenly piling back into VIX futures?
- **The "Dark Web" of Vol Trades:** Analyzing a bizarre, deep-in-the-money August put spread and a massive November VIX call strip paired with a 1x6 put ratio spread.
- **Crystal Ball:** Predictions for where VIX and VOLI land by next week.
Russell RhoadsPanelistScott NationsGuest
