After a run of bad luck and poorly-timed injuries, Volkman has enjoyed the best season of his career wearing the Eels' No.6 in 2026.
But the Samoa international now finds his career again in limbo, conceding there will be no contract at Parramatta in 2027 after they decided to sign PNG-bound Luai on a one-year deal.
"It's natural (to have a sinking) feeling (when Luai was signed). But at the end of the day it happened and I can't control any of that," Volkman told AAP.
"I can only control how I play on the weekend and how I am around my teammates. That doesn't change. Just because of a signing, I don't drop my bottom lip when I come to training.
"It is a business for this club. It's not fair on the boys if I just have a sook. I am pretty easy going, chill guy. I am all good."
Volkman is keen to stay in the NRL and remains the best playmaking prospect on the market for next year.
The 24-year-old has proven himself to be better than just a back-up half, outplaying Jonah Pezet this season and at times leading the Eels' attack.
The former Warrior does not want to head to the Super League, believing it is no coincidence his best football has come when close to his family in Sydney.
"That's a big thing," Volkman said.
"England is probably a bit of a stretch in regards to going away from my family again.
"The NRL is the top competition in terms of playing rugby league and that's where I want to play my footy.
"I would love to stay at (Parramatta), but I think they're heading in a different direction, which I totally understand."
Volkman's run of form comes after the Eels handed him a lifeline last year, following his high-profile injury-induced false start at St George Illawarra.
After being sidelined through 2024, Volkman played two games at Parramatta last season before setting up 10 tries and scoring six in 16 matches this year.
"Confidence was a big thing for me," Volkman said.
"It was all mental. It wasn't until this year I felt it. The coaching staff instilled confidence in me.
"Them backing me every week is something that gives me confidence.Â
"Getting selected is something I don't take lightly. So I am taking it with two hands and doing my best."
Beyond Volkman, AAP understands Parramatta have informed Jack de Belin an option on his contract will not be taken up for 2027.
And fellow forward Kelma Tuilagi will leave for Melbourne, on a one-year deal confirmed by the Storm on Tuesday.