I do not think you even know what the words mean which you are using which is a very big problem. One of your replies was you saying that you think cash is a volatile investment since you are using it to time the market.
Volatile has 2 generally accepted meanings in investment: an asset which (relative to a benchmark) changes price quickly and by (relative to the same benchmark) changes by a lot OR the likelihood to permanently lose money (example a company goes bankrupt). You trying to talk with people about investment with your own personal definitions means that you cannot actually have a conversation because you and the other side cannot understand each other. You need to use the same language with the same meanings otherwise the conversation cannot go anywhere.
Volatile stocks (compared to S&P 500) have historically had a slightly higher long-term return. Volatile bonds (as compared with a broad bond fund), which are also known as "junk bonds" also have a historically higher long-term return. When you start to talk about derivatives (you mentioned buying calls in a response) you need a different benchmark then either stocks or bonds as it is a different investment tool and, from what I can tell, is currently beyond your understanding so you should not touch them.
Going back to the definition of volatile, S&P 500 index fund versus cash meet different definitions of it. S&P 500 (if you use cash as the benchmark) has much more price movement whereas cash (relative to stock) is far more likely to permanently lose price relative to stocks (inflation). However, there are stocks/funds which are considered to be more volatile than S&P 500 index (in that they have more price movement).
When everything is said and done, if anything I said above is new to you then you doing anything other than having a set portfolio allocation with stocks/bonds then you are probably losing money right now. Because what I typed above is a precursor to investing 101 and you asking about about 501 without knowing 101 means you are very unlikely to do anything other than lose money.
Create a portfolio allocation which makes sense, follow your own allocation, and spend a few months actually learning about investing and STOP reading/watching professionals until you actually have the basics. Quoting Cuban or Buffet makes you think you know something which you probably do not yet.