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In this episode of the Stock Market Options Trading podcast, host Eric expresses concerns about the current state of the market as of May 4, 2021. He notes the S&P's semi-parabolic move and the Nasdaq's underperformance, citing a decline of over 2%. Eric discusses fears surrounding inflation, referencing comments from Yellen about potential interest rate increases. He reflects on a general sentiment that the market may have rallied too much in light of the pandemic, despite the stimulus measures and progress with vaccinations. Eric also mentions that Florida's governor plans to lift all restrictions by June, highlighting the mixed feelings about market conditions.