duration, the worse it's going to be and the lower rates are where you start from, the higher the co convexityet talked about that much, but that is a potential area of weakness as we look at the space. and when we take a look at the rally we saw this week, that's an opportunity for us to potentially hedge. i was looking out to may, the 35/39 put spread normally, when i'm looking at vertical spreads, i'm normally looking to spend about 25% on the downside with put spreads and oftentimes you can get that. part of the reason why this was a little bit more, xlf was just under 39 this was slightly in the money when i was looking at this today. that was about $1.20 still, the payoff better than 2-1 if we see further declines, you know, in the future after this nice bounce that we've seen in the space i think that's an opportunity to put a hedge on, frankly. >> carter, what's your take here >> well, i would characterize it simply as a rally to a difficult level. but let's look at a table or two and then one chart so the sector, it's important to say this, right? financials -- it's the lifeblood of t