This episode dives into the futures options landscape with special guest Bobby Iaccino (Path Trading Partners). The crew breaks down the relentless equity rally, small-cap rotation, crude oil "theta bombs," natural gas seasonality gone haywire, and the sharp reversal in silver. Plus: active trades in Russell puts, nat gas calls, crude upside bets, and Bobby's surprise euro short idea.

The markets are seeing a sea of green this week, and the bulls are showing no signs of slowing down. Host Mark Longo is joined by Scott Bauer of Prosper Trading Academy to break down a "meteoric" rally in the S&P 500 and a surprising surge in commodities that's defying the traditional geopolitical playbook.

In this episode, we dive into:

• Equities Spotlight: The S&P 500 breaks through the psychological 7500 barrier. Scott explains why this is one of the "most hated rallies" in memory and how he's using Iron Condors to navigate high volatility.

• Energy Update: Crude oil (WTI) threatens the par strike once again. We analyze the narrowing volatility gap between Crude and Natural Gas and what the July 80 puts tell us about market sentiment.

• Metals Movers: Copper is stealing the spotlight from Silver, threatening all-time highs. We break down the massive vertical spreads hitting the tape in the September contracts.

• Agricultural Surprises: Why conflict in the Middle East led to an unexpected 11% explosion in SRW Wheat.

• Zero-Day Madness: A look at the "insatiable appetite" for 0DTE options and why traders are paying a nickel for outlandish strikes.

Get the Data: Follow along with the reports featured in this episode at cmegroup.com/twifo .

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TWIFO 496: Live from OIC 2026 | Equity Surges & Volatility Shocks

Live from the Options Industry Conference (OIC) 2026 in Palm Beach, Florida, host Mark Longo brings you a special "Just the Facts" edition of This Week in Futures Options.

The markets are hitting a fever pitch as we balance a 50/50 split between "light side" gainers and "dark side" laggards. We break down the massive institutional volume at CME Group, from the surprising rally in Rough Rice to the heavy retreat in the Energy complex.

On the Docket:

• Movers & Shakers: A look at the NASDAQ 100, Bitcoin, and Silver gains vs. the sharp drops in Brent, WTI, and RBOB.

• Equity Spotlight: The E-Mini S&P 500 is "kissing strikes" we've never seen. We analyze the 3.3 million contracts on the tape and the massive 0DTE (zero day) flow.

• NASDAQ Analysis: Why traders are eyeing the 26,000 puts for a potential near-term reversal.

• OIC 2026 Trends: Brief insights on 24-hour trading, crypto, and AI from the conference floor.

Resources:

• CME Group Data: Check the reports for yourself at cmegroup.com/twifo

• Go Pro: Get exclusive Q&A sessions and live access at theoptionsinsider.com/pro