The market trended lower with all four major indices down approximately one-third of a percent. Russell 2000 (/RTY) showed the most weakness while the Dow has demonstrated relative strength recently as NASDAQ sells off. Volatility edged up slightly to 19.52.

Gold continued its impressive run, climbing $20 to around $42, extending its rally from below $4,000. Silver also showed strength, prompting some profitable scalp trades. Oil gained 58 cents to $59.06, while Bitcoin rose nearly 1% to $102.

Earnings reactions included Cisco up 5, Disney down 4, and JD.com up about 50 cents. The hosts discussed VIX options strategies, advising against naked call selling due to volatility expansion risk and recommending defined risk positions instead.