Welcome to volatility for 11 for equity armor investments.

I am Joe T.

Gay here on the floor of the sea Bow in the Vics bit on Wednesday, January 15th 1 week away from exploration for the first time in 2020.

Also have a holiday on Monday, Martin Luther King Day.

So the market will have one last trading day in between them, so that I'll put together.

We got a 12 40 vics.

The market's up a little bit.

The SP 500 six handles right now, as I'm giving this presentation the fixes up very fractionally four cents, but only about 12.

45 very low that sells me.

Maybe the vics is preaching, Ah, floor being up at the same time, the market is up meeting on a lot of room to the downside, especially coming out of Tuesday after the holiday, we should see a little bit of an increase in the mix in that day is out of the model.

It's what usually happens underneath all the surface.

We got the front month future at 13.

That's only a 50 cent increase over the cash so that together we got the Vedic that 90 people are expecting a lot of movement in that front month future are relatively speaking.

When you see a low vixen, if you see a lo V necks.

No, no, that's not the case when I when I see the future close to the spot cash CIA hired the vics.

There's more volatility in the future because it's closer to where the cash is.

It the cash were to go up to 15.

That future has to go with it right now because it is so close to it.

So that's what that's what I'm looking at.

Maybe addiction.

Under the service of the vics, the skew remains high 1 30 as the market continues to ride this to higher and higher and higher.

Nobody's buying calls.

That's surprisingly, we were buying calls.

I'll be a little flatter skill, but still people are still buying puts.

Maybe they're protecting their long positions as we get higher and higher up here.

That's what's going on.

The volatility for equity armor investments.

I'm Joe T.