joining me is dan deming from the cboe out in chicago. dan, good to see you. we had the rally yesterday after the that finally raised rates, and now the come down. it seems like today, at least in part, it is the commodity tail wagging the equity dog, but it is a broad-based selloff. it is not limited to the commodities. mr. deming: exactly. we see some repositioning. you are right, it is kind of like liftoff -- there is turbulence here. one thing you mention that i wanted to point out is the bloomberg commodity index is at a 16-year low. it has been down, i think, six straight days. you see continued downside pressure on the commodities. that will play into the inflation staying. that might be why the markets are struggling. we see a continuation of what was taking place before the fed's decision. julie: where do you see the most activity in the options market -- are you seeing a lot of that commodities-related today? mr. deming: there is a fair amount commodities-related. we are also seeing when you look at the volatility space, a lot of activity in the vix