Scott Nations joins the podcast to talk about how options trading has evolved over his career and to give an overview of his book, The History of the United States in Five Crashes. Topics discussed:

• Options trading pits – how they have evolved
• What it takes to be a good options trader
• Creating a better VIX
• Imbalance of options premiums
• Closet indexing and index bubble fears
• Anatomy of a market crash
• How exchanges have mitigated risk of another flash crash
• What the next market crash could look like