Let's go out to Chicago to see what's moving in, shaking over at Cboe. TV contributor Errol Flynn is live from the trading floor. Good morning and happy Friday to you, Errol. Thank you so much for joining us. So tell us what you're tracking in the premarket this morning.
Yeah. Good morning and happy, happy Friday, Remy. Right now I'm watching the Nasdaq because it looks like it wants to make another run towards the all time highs. Despite the pullback that we saw yesterday morning, the market's been able to maintain a lot of that upward momentum. That really kicked off on Monday when Nasdaq futures were roughly 800 points higher.
One of the most aggressive opening drives I've seen in a long time. So the question this morning is whether buyers can keep that momentum going as we get back towards those highs. And the other thing that I'm watching is volatility, right? When the broader market rallies aggressively, you typically see volatility get compressed, which can make options relatively cheaper.
So for anyone looking to hedge or buy some downside protection, that insurance is getting cheaper as the market pushes higher. And for me, it's really going to come down to whether Nasdaq can continue this upward move. And if it does, how much further can volatility get squeezed? And I mean, the oil market has been extremely, extremely volatile as well.
I think a lot of investors are watching to see if this pullback is going to remain or if we can continue that upward trajectory. Same with Nasdaq.
Well, we will be coming to you later on this morning. So thank you so much for joining us ahead of the open.
