And the Welcome back to the Schaefer's market mashup. Please welcome back.

Five-10. Henry Schwartz, Cebo Global Markets,

is head of product intelligence.

Henry, you hanging in there, buddy?

Oh, I am, Patrick, thank you.

It's been a heck of a heck of a year and it's only February.

Yeah, it's, did you ever think when we did a pre-election volatility episode that we'd be talking about GameStop two months later.

No, I thought I thought whatever happened you know that we'd get over the hump of

the election and things would just settle down but nothing settled down I think

more has gotten kind of stirred up in the you know the first month of the year and

it's it's great but I'm exhausted.

Yeah you're you're telling me.

Well, in general, stocks tend to post gains during periods of transition to a new US administration.

Within these transition periods between incoming and outgoing US

presence, stock market performance tends to become more dependent

on the economic cycle rather than the actual election results.

But I want to at least start with some context first.

How have markets fared following previous presidential elections in historically how

stocks performed in a new president's first few months on the job?

Sure, so I've done up some data because it's really interesting, you know, a lot of us kind of coming

from the pure options side are, you know, it's ingrained in your training that there's a

normal distribution and there's a random walk which means that you know there shouldn't

...