We have been discussing playing the volatility trade for the last couple weeks. We have accumulated a large position in this bet over the last week. Our cost is 4.87. One thing that can happen is that the volatility and the market can go up at the same time. It is the end of January and all the mutual funds may be burned out of buying. We are expect a sharp increase in volatility. Our technical systems are indicating a very high probability of a pattern change.