The vol market might be caught in a midsummer lull between truncated holiday weeks, but underneath the surface, there is plenty of drama to slice and dice. In this episode, host Mark Longo welcomes back "Dr. Vix" Russell Rhoads (Indiana University) and Bill Luby (Luby Assessment Management) to dissect a market that seems to be trapped in an anticipatory holding pattern.

The guys dive deep into:

The Volatility Review: A look at a celebratory but hair-trigger market as VIX cash flirts with the 19 handle.
The Geopolitical Risk Horizon: Why the market chose to look right past recent Middle East turmoil and what a sub-$70 crude environment means for tech and macro hedging.
The AI CapEx Arms Race: Tech earnings showdowns, Micron's blockbuster numbers, and why Microsoft's upcoming year-end earnings report could be the ultimate summer volatility catalyst. "Someone has to flinch" on tech spending—who will it be?
Deep-in-the-Money VIX Puts: Analyzing the massive rise in ultra-deep VIX put spreads. Is it a smart margin play, or just a fun deployment of "entertainment capital"?
Russell's Weekly Rundown: Breaking down the wild weekly options flows, short call spread ouchies, and drawing lines in the sand at the 17 and 19 strikes.
Crystal Ball: The crew looks ahead past the America 250 holiday to make their two-week volatility predictions.