 Hey folks, good morning. It's Hari Swaminathan and I wanted to make this quick market update yesterday was a massive day in the SMP It went down by about 38 points and you can see that the VIX actually had climbed over 15 Yesterday this morning. It seems to be a little Lower in the pre-market. It's 9 a.m. Eastern time today and that's Friday August 13 So here we are and seems to be a little bit of a of a reprieve here But it's yet to be seen. I think the big drop yesterday was some of it was probably due to the Barcelona event as well as The fact that various CEOs were resigning from business councils and everything here in the US now VIX being that high gives you an opportunity to capture some volatility crush if the downturn doesn't continue and it seems like it's been stable since I've been watching about one to two points not a whole lot, but perhaps something like a bear call on the SMP would be the way to go so if we analyze this and if you want to put a bear call like say Seven days away. I think you can get quite a bit of premium there so here if you see the plus or minus move is about 45 so 24 30 plus 45 about 24 75 and perhaps we can go to about Go to about 24 80. I believe let's check it out if there's any Options any money there? So if you go to about 24 80, there's nothing there. So seven days is too far I mean, it's too close. Let's say 14 days 14 day bear call and you're getting a plus or minus of 61 so about Say 24 2500 close to that would be there's no premium there as well So you can come to maybe 11 delta and at 24 80 you can do it But seems a little bit risky. So I thought that made there may be a trade over there But I don't think it's worth it because 24 80 is only about 50 points away and Plus or minus itself the one standard deviation is 61. So that won't make sense Perhaps the best thing to do maybe to come to the closest if you wanted to do sort of like an intraday trade I think the price is there might be a little attractive. So for example here 24 50 things like that the plus or minus is 16 even for today, which is like very high and that's obviously because the Wicks level has gone up so so much Now normally if the plus or minus is 16 for one day, you would know you could potentially buy a strangle however, because the volatility is high and it's going to get crushed I would not recommend that and So maybe a vertical Or even an iron condor because today seems to be somewhat flattish. So maybe an iron condor 20 points away 15 points away at You know 24 45 and 24 20 or 24 15 might make sense So but this volatility is going to get crushed today So, you know, if you wanted to take advantage of an intraday situation, this is what we would do You also have to keep an eye on the Happenings outside of the markets because I think a lot of that might drive The sentiments for today also. Anyway, just a quick day trade opportunity I suppose for today if you wanted to sell some premium and take advantage of the high wicks This is what you could do. You could do an iron condor just on the front side itself. Thanks