My Commodities desk put out a trade of the week that we're going to jump into with options as well.

No need for a long preamble. It's a bull market and we're acting accordingly.

Back on a July 15th episode of The Flow Show, Strazza and I put on a trade in Viking Therapeutics $VKNG. You can get all the trade details here.

We still like the setup, but with September options, our original position is running out of time.

And recently, the Analysts published a report that makes me think I should roll my position further out in time:

This morning, the team was discussing a notable Board of Directors insider making a sizeable $5 million purchase of stock.

While an insider's buy isn't necessarily grounds for me to get interested in getting involved, it did catch our attention and after looking at the chart and the sector, it looks like a trade we'd like to get into--carefully.

Feels fitting to position ourselves in a company that is known for going fast. Because if this bull market is about to resume its normal operation, then this company is likely going to lead us higher, quickly.

It's beginning to feel more and more like last week's volatility event was just a blip on the radar of a bull market. Great!

And if that's the case, then we'll get rewarded for positioning in the next set of leaders that carry the market higher. Rotation, baby!

So with this in mind, we're going to go after a potential short-squeeze candidate today.

It's fashionable in certain circles to talk about having a Canadian escape plan if shit gets too weird here in the United States.

I'm not one of those. Though I love Canada, having grown up across the border in Buffalo, NY.

There were many times in my younger days, while spending a day across the border, where I'd find myself short on cash and I'd have to hit an ATM to get some loonies! And most often, those ATMs were run by CIBC.

So maybe I should attempt to earn back some of those ATM fees (plus interest!).

The stock market likely has a couple of aftershocks left in it. But if the worst is over, I have to believe this is a great opportunity to buy the dip in some names that will be beneficiaries of the AI boom.

And there are few bigger and well-positioned names than Microsoft.

This market environment still demands that we define our risks and we're going to leverage elevated volatility in a way you might not expect to express our bet.

Volatility is blowing out for the second day in a row.

I'll cut to the chase. This is a good time to sell defined-risk, delta-neutral options credit spreads.

We're going to do it again today.

VIX is near its highest level of the year and this is being reflected in options premiums nearly across the board.

It's also earnings season, so we want to be careful not to get caught in any potential earnings-driven landmines.

With this in mind, I've got a big cap name that has already reported earnings, is trading in a range, and is still exhibiting elevated options premiums -- the perfect recipe for a delta neutral options trade.

Another man's trash is another man's treasure.

And that certainly is true for Republic Services.

As can be seen in the chart below, $RSG has certainly been winning over the long run. And with this week's earning report sending the down 5%, it feels like a great opportunity to get positioned on the dip.

The Berkshires is a wonderful place to visit. And it can often be a great place to ride out the heat of summer.

Similarly, Berkshire Hathaway $BRK/B is often a great place to ride out the heat in the market.

And given the volatility backdrop in $BRK/B options, the options market is offering to pay us to catch the turn.

Let's get after it!

While I was away, volatility had a moment. And it's still hanging at pretty high levels, especially in tech stocks.

In the Technology sector ETF $XLK, we're seeing the highest implied volatility that we've experienced all year:

And with the chart of $XLK forming a range...

...this feels like a good opportunity to play for volatility mean reversion.

Here's the Play: