The Futures Rundown

Is crude oil the new meme stock, or are we just witnessing a classic supply shock? In this episode of The Futures Rundown, Mark Longo is joined by Brett Friedman, Managing Partner at Winhall Risk Analytics, to dissect a wild week in the pits.
As geopolitical tensions shift from Venezuela to Iran, the energy complex has reclaimed center stage. We break down why WTI and Brent are seeing "triple-digit" volatility levels—territory usually reserved for Natural Gas—and whether the current market madness truly is "unprecedented" or if history has a lesson for today's traders.
In this episode, we explore:
The Energy Surge: Why WTI and Brent are dominating the tape and what the extreme backwardation in the futures curve is telling us about the next three months.

The Gold & Silver Flip: Why the "debasement trade" lost its luster just as conflict flared, and whether gold is still a "flight to quality" or just another risk asset.

Volatility Reality Check: Brett compares today's markets to Gulf War I, Gulf War II, and the 2020 "negative crude" era.

The Trading Pit: A countdown of the week's biggest gainers and losers, from Heating Oil's massive rally to the ongoing "bloodletting" in the Crypto complex.

Equities & Correlation: How the S&P is reacting to headlines out of Washington and what rising correlation indexes mean for your strategy.

The global energy landscape is shifting, and WTI isn't the only story in town. In this episode of The Futures Rundown, host Mark Longo breaks down the massive divergence in the energy complex as the Brent-to-WTI spread hits its widest level in over 11 years.
With Middle East tensions impacting the Strait of Hormuz, we move beyond the headlines to analyze the contract specs, volume trends, and risk profiles that every futures trader needs to understand in 2026.
Inside the Trading Pit:
Energy Dominance: Why Brent Crude and Heating Oil are leading the year-to-date leaderboard (up 68% and 85%, respectively).

The "Shiny Stuff" Slump: Analyzing the surprising 6-7% weekly sell-off in Gold, Silver, and Palladium.

Equity Rotation: Small caps (Russell 2000) finally turn green for the year—is the move out of large-cap tech permanent?

Contract Specs 101: A deep dive into ICE Brent Crude—contract sizes, tick values ($10 vs. $5), and the reality of cash settlement vs. physical delivery.

Futures Free-for-All: We tackle your questions on Crypto futures (BTC/ETH pullbacks) and the big debate: Will the Fed actually cut rates in 2026?
Resources & Links:
Analyze markets with tastytrade: tastytrade.com/podcasts

Get more options and futures insight: TheOptionsInsider.com/Pro

Follow the network on X: @Options

The futures markets are heating up, and energy is leading the charge. In this episode, host Mark Longo is joined by Jermal Chandler, Head of Options Strategy at tastytrade, to break down a wild "Fed Day" and explain why Crude Oil has become the "current VIX" of the marketplace.
From the impact of global conflicts on the Strait of Hormuz to the surprising sell-off in Silver, we dive deep into the movers and shakers of the week. Are sky-high valuations keeping traders awake, or is the "buy the dip" mentality still reigning supreme?
Inside this episode:
The Trading Pit: Why WTI and Brent are dominating the volume charts.

The Fed Factor: Analyzing the latest decision to sit on rates and what it means for the 10-year yield.

Movers & Shakers: A look at the massive rallies in Heating Oil and RBOB Gasoline versus the slump in Cocoa and Crypto.

Futures Free-for-All: We reveal the results of our listener poll—what is the #1 risk traders are actually worried about?

Whether you're trading micros, ETFs, or large-cap futures, this rundown gives you the macro perspective you need to stay ahead of the curve.
Contact the Show:
Twitter/X: @Options

Guest Info: Catch Jermal Chandler daily on the tastytrade network or follow him @JermalChandler.

Energy is the "800-pound gorilla" in the markets this week. As geopolitical tensions escalate in the Middle East and the Strait of Hormuz becomes a critical flashpoint, products like crude oil, heating oil, and RBOB are dominating the tape. Is this a permanent shift or a temporary shock?
In this episode, host Mark Longo is joined by Brian Pieri, founder of Energy Rogue, to break down the "geopolitical premium" currently baked into energy prices. We dive deep into why energy is truly inescapable for any futures trader and why one specific product—heating oil—is outperforming the rest of the complex by nearly 30% in a single week.
In this episode, you'll learn:
The Strait of Hormuz Crisis: Why 20-25 million barrels a day are at risk and what "naval escorts" actually mean for supply.

Crude Oil Outlook: Brian's case for why WTI and Brent might actually head back to the $60s despite the headlines.

The "Heating Oil" Phenomenon: Analyzing the massive spread between gasoline (RBOB) and distillates.

The Trading Pit: Winners and losers in Silver, Palladium, and a surprising rally in Bitcoin futures.

Resources:
Analyze the markets with Brian: EnergyRogue.com

Futures Brokerage: tastytrade.com/podcasts

Join the Network: TheOptionsInsider.com/Pro

The futures markets are moving fast this week. From a 20% surge in Lithium to the continued "annihilation" of Cocoa bulls, Mark Longo and Dan Gramza break down the top 15 most active contracts and the year-to-date movers you need to watch.
In this episode:
Crypto Uncertainty: Why Bitcoin and Ether are struggling to find sustainable footing despite recent bounces.

Agricultural Deep Dive: Exploring the global supply chains of Coffee (Arabica vs. Robusta) and the unique production systems of Cocoa in West Africa.

Energy Outlook: Why Crude Oil is currently an "anticipation market" rather than a supply-demand story.

Metals Momentum: Is Silver finally ready to lead Gold, or is it just a byproduct of industrial demand for solar cells?

If you're ready to move from listening to trading, head over to tastytrade.com/podcasts to get started with the tastytrade platform.