UGO03: This Isn’t 2008. That’s the Problem ft. Benn Eifert

Top Traders Unplugged

Niels Kaastrup-Larsen

Business, Business News, Investing, News

4.8 • 670 Ratings

🗓️ 11 June 2025

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Back on the Cboe floor, Cem Karsan sits down with Benn Eifert to trace the fault lines shaping today’s volatility regime. They dig into why market structure, not just macro, is driving outcomes... from the reflexive cycles of implied vol to the growing influence of structured product flows and zero-day options. With correlations breaking down and dispersion rising, Benn makes the case that path matters more than magnitude. It’s a conversation about what happens when liquidity fragments, when the Fed can’t step in, and when legacy playbooks stop working. Quietly technical, deeply contextual, this one rewards a careful listen.

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Episode TimeStamps:

00:11 - Introduction... setting the stage

03:01 - Understanding Options and Market Dynamics

09:47 - Market Dynamics and the Role of Administration

11:41 - Market Volatility and Structural Changes in Trading

19:00 - The Impact of Structural Changes on Market Volume

26:13 - Understanding Market Dynamics and Asset Allocation

30:23 - The Impact of Interest Rates on Investment Strategies

34:21 - Understanding Zero DTE Options and Their Market Impact

39:50 - Economic Outlook: Tariffs and Interest Rates

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Transcript

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0:00.0	You got, you got, you got,
0:05.0	You got, you bet, you bet your money just got laid on sex.
0:11.0	Welcome to You Got Options, an exciting series right here on Top Traders Unplugged,
0:17.0	hosted by none other than Jim Carson, one of the sharpest minds when it comes to
0:22.7	understanding what's really driving market moves beneath the surface. In this series,
0:27.8	Gem brings his deep expertise and unique perspective honed from years of experience on the
0:33.0	trading floor to candid conversations with some of the brightest minds in the industry. Together,
0:38.3	they unpack the shifting tides and underlying forces that move markets and the opportunities they create.
0:44.3	A quick reminder before we dive in. You got options is for informational and educational purposes only.
0:50.3	None of the discussions you're about to hear should be considered investment advice. As always, please do your own research and consult with a professional advisor before making any investment decisions.
1:00.0	Now, what makes this series truly special is that it's recorded right from the heart of the action on the trading floor of the Sibo.
1:07.0	That means you might catch a little background buzz.
1:09.0	Phones ringing, trade or shouting, as Jam and his guests unpack real-world insights in real-time.
1:15.6	We wouldn't have it any other way, because this is as authentic as it gets.
1:19.6	And with that, it's time to hear from those who live and breathe this complex corner of the markets.
1:24.6	Here is your host, Jem Carson.
1:26.6	Welcome back to another episode of You Got Options
1:30.0	from the Sibo floor, brought to you by Top Traders Unplugged and Kai Media. Today we get to talk to
1:35.9	no other than Ben Eifert, the professor. He dives deep today on Options Vol and the coming regime
1:42.5	where we are in correlation.
1:47.2	What happened recently with the tariffs?
1:49.1	And what does that mean going forward?
	...

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