Dr. Jim Schultz and Errol Coleman discuss recent market volatility, noting new lows for NASDAQ and record VIX levels. He compares current conditions to past spikes, attributing uncertainty to factors like the Bank of Japan's moves and yen carry trade. Emphasizing strategy, he recommends balancing directional trades with premium plays given heightened volatility. Additionally, he explains that Vega impacts extrinsic value, using balloons and earnings events as analogies. The session ends with a focus on managing positions and preparing for upcoming CPI and PPI data releases.
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