Tom and Tony discuss a volatile trading day where S&Ps and NASDAQ, initially strong, reversed to their lows. E-mini S&P futures show decent volume despite a slow day, while bonds and Bitcoin show diverse movements. Tesla led the market, climbing $13, while Oracle and Reddit declined significantly. A focus on options shows inflated positions, with SPY overstating 81%. The upcoming CPI release holds market potential, as trades remain short with low volatility expectations.