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[Music] so the markets becoming volatile the VIX is starting to rise we decide were gonna take money off the table whether it might be an individual stock position like apple or it might be lets say the spy position SP Y or any another ETF and were gonna replace it with a deep in the money call were gonna do that because were going to take a lot of risk off the table and our slope is going to be is reducing as the market comes down or beta theres a small cost to that thats we talked about in a previous video but lets take it to the next level now the markets starting to get real volatile volatility because it has high serial correlation which means or what has happened will happen to happen again the serial correlation sorta like an echo if if you believe that and the white papers support that then what you can do is you can start converting your deep in the money call to our version of a call back spread now a call back spread is a very heavy trade to hold and carry the cost t