Hi Seth, I watched your interview with David Lincoln. I wondered if you could go into a little more detail on how you evaluate the S&P options. Since I am new to volatility, I understand you were discussing out of the money options at future months. This is to get some idea of perhaps how volatility may be perceived. I wondered if you could go into a little detail on how you actually look at a screen and what you are looking for in terms of out of the money options as accrued predictor of volatility.

Thanks