Emergency and given the Public Health recommendations issued by the San Francisco department of Public Health, governor Gavin Newsome and mayor breed have lifted restrictions on teleconference. This meeting is being held virtually with all members and staff participating via teleconference. This will ensure the safety of sfers board, sfers staff, and members of the public. While this allows us to hold meetings via teleconference, it may not be as seamless as it normally would be. A reminder to the public to mute your microphones to minimize background noise. Madam secretary, roll call, please. [roll call] clerk we do have a quorum. President bridges . Thank you, madam secretary. At this time, the board will be going into closed session. The board will begin with general Public Comment, but no earlier than 2 00 p. M. Well take Public Comment ongoing into closed session at this time. Madam secretary, please open the phone lines. Clerk members of the public who wish to provide Public Comm
Begin. Welcome everybody. Good to have you with us on options action. Escalating coronavirus fears ripping through markets this webb 96 of the s p 500 now in correction territory or worse meaning down more than 10 from the highs. All three major indexes handing in the worst week since the financial crisis in 2008 the dow shedding around 3,600 points more than 10 . And all sectors down from the highs. But energy and financials, the largest victims, both sectors down more than 13 in the past week if you are wondering how to protect your portfolio and who isnt amid the market madness our team of traders are here to break it down. Cornerants macro carter worth and mike khouw opt myself advisers we know this was a historic week for stocks and bonds but mike in any wayway was it historic for the options market. I think anything thats going to be a historic move for equities is going to be a historic move for options on the same equities. And this certainly was one of the cases. The vix was a
Welcome, everybody good to have you here with us on options action. Obviously escalating coronavirus fears ripping through the markets all this week. 96 of the s p 500 now in correction territory or worse, meaning down below 10 from the highs. All three major indexes handing in their worst week. The financial crisis since 2008. The dow shedding 3600 points more than 10 down energy and financials, the largest victims of the selloff both down more than 13 in the last week. If you are wondering how to protect your portfolio, who isnt, amid this madness, our team of options workers are here carter werth, tony zhang and mike khouw we know this was an historic week for stocks and bonds. Mike, in any way was it historic for the Options Market yeah. I think anything thats going to be an historic move for equities is going to be an historic move for options on those same equities this is certainly one of those same cases we had the vix get almost up to 50 at some point today so that obviously i
Commissioners paskinjordan and stansbury one up here today can we do please take roll call cohen speak, here. Bridges, here. Driscoll, here. Makras. Mdm. Clerk its time for close session open up or Public Comment on our close session items. Seeing none, Public Comment is closed. At this time [gavel] thank you we will resume at in 15 min. At 2 30 pm. Excuse me. Good afternoon. We are going to take a motioncan come out of close session and make a motion not to discuss what we discussed in close chat session. Is there a motion . [inaudible] [off mic] not just us what was [inaudible] motion has been made by commissioner bridges and second by commissioner cohen we can take that without objection. Thank you. Clerkfirst i want to thank the public for allowing us a few more minutes. Your time is important and i want to recognize that. Thank you for being flexible and honoring our request. I would like to go to item number four mdm. Clerk and you call that for me . Item 4 general public on ive
Cohen speak, here. Bridges, here. Driscoll, here. Makras. Mdm. Clerk its time for close session open up or Public Comment on our close session items. Seeing none, Public Comment is closed. At this time [gavel] thank you we will resume at in 15 min. At 2 30 pm. Excuse me. Good afternoon. We are going to take a motioncan come out of close session and make a motion not to discuss what we discussed in close chat session. Is there a motion . [inaudible] [off mic] not just us what was [inaudible] motion has been made by commissioner bridges and second by commissioner cohen we can take that without objection. Thank you. Clerkfirst i want to thank the public for allowing us a few more minutes. Your time is important and i want to recognize that. Thank you for being flexible and honoring our request. I would like to go to item number four mdm. Clerk and you call that for me . Item 4 general public on ive one public card. If theres anyone us dont like to speak these, not or one or i pool not to