Mark and Don talk Euro vol arbitrage opportunities, ratio and calendar spreads, answer viewer mail, and even have time to talk about blackjack.

Live from Savannah, Mark is joined by Robert Krause, CEO and Chairman of the Volatility Exchange

Live from Savannah, Mark is joined by Robert Krause, CEO and Chairman of the Volatility Exchange

Mark and Don review the previous week in volatility, take a look ahead, and bravely venture into the volatility mailbag.

In this episode, Mark and Don devote the entire show to discussing volatility with a true pioneer in the field: Nobel Laureate Robert Engle.

Mark and Don take a trip down volatility lane and along the way, discuss the CBOE VIX cash, dynamic vs. static hedging, featured articles, and dive into the mail bag.

Volatility Views 4: The Many Flavors of Volatility ConesVolatility Review: We get a real-time look at the volatility of volatility with a big one-day move in the Euro vol contract. "Sell" was the word in vol last week. Contango craziness.Strategy Session: Contango – a basic introduction; Mean reversion – beyond basic introduction; Volatility cones as a trading signal: they come in many flavors.Crystal Ball: Interesting vol ahead, both in the Euro contracts, and in the market in general. VIX cash fluctuations. Sebastian predicts that S&P will downgrade U.S. debt on Monday. Are you ready for "Sell in May and go away"?

Volatility Review: We get a real-time look at the volatility of volatility with a big one-day move in the Euro vol contract. "Sell" was the word in vol last week. Contango craziness.Strategy Session: Contango basic introduction; Mean reversion – beyond basic introduction; Volatility cones as a trading signal: they come in many flavors.Crystal Ball: Interesting vol ahead, both in the Euro contracts, and in the market in general. VIX cash fluctuations. Sebastian predicts that S&P will downgrade U.S. debt on Monday. Are you ready for "Sell in May and go away"?

Week in Review: Slow and low? That's the volatility understatement of the year. Ten-day realized vol is near two-year lows. Is this the eye of the hurricane or the calm after the storm? Implied vol rally low, although IV ended up on the week in the S&P 500. Market doesn't completely trust this low vol levels.Strategy Session: Continuing last week's discussion, we begin into logical errors when deriving volatility over discrete periods. The simple answer: Root, Mean, Square. Don walks us through the math, as well as the usefulness of this method when looking to hedge volatility exposure over a longer period of time. Cheap volatility and buying or selling premium? Mark and Don discuss their own thougths on these two matters. Crystal Ball: Yay…no government shutdown, which may actually put a dampter on upcoming vol. However, if oil continues to rally, and indications of interest rates rising, we'll see increases in IV. Good news doesn't rally market = warning sign. Upcoming numbers to watch: Retail sales; beige book; Michigan sentiment; PPI; CPI. GVZ: Gold vol index starts trading options at CBOE starting 4/12. When will oil and the broader market diverge?

In this episode, Mark and Don are joined by Mark Sebastian from Option Pit. The vol talk flies with discussions on skew, VIX, shadowy OTC vol markets, and what will happen in the coming week.

* Volatility Week In Review: Volatility taking a steep downturn as concerns lessen; Skew Index – Can it predict Black Swans?; why has volatility dropped; the phenomenon of markets dropping precipitously and rise more steadily; Euro vol discussion. * Strategy Session: Delta neutral trading: what is it? why do it? how to do it. * Crystal Ball: Good time to pick up downside protection; currencies looking to the upside for vol

In this second sneak preview of Volatility View, Mark and Don record live from the croquet fields in Boca Raton.