The VIX hit an intraday low of 11.83, levels not seen in over 6 years! This makes buying options on the major market indexes very inexpensive! If you feel that the markets are a bit frothy, and might correct a bit, you should look to options for insurance! Steve Moses joins Merlin to talk about market volatility and his most recent posting in Power Trader Nation, in which he maps out a nice trade on PCP which might be of interest to traders. Steve and Merlin also talk about “the Greeks” and their significance on options trading before moving onto current market analysis.