. >>> that was supposed to be david rosenburg warning that the market volatility might continue through all of next year. the bix hitting 25 today for the first time in months. so if you are looking for a little monetary protection for your portfolio, what should you do? mike will break it down on the smart board. >> we look as what was going on right here. up around 25, this is well above the historic levels for the vix. it is probably closer to 20 and much recently was even closer to 15. we're trying to look at a spread, a way to mitigate the highest cost of options. when you think about your portfolio insurance, you have to think about number one, how long do i want that insurance to last. number two, how much protection do i need? will it go down 15% or 20% like it did in the credit crisis. taking a look at that, one way is to look at a quick spread. i'm looking a little over 90 days here. it gives us about a quarter to digest rate news. the rate money right here, and i guess we're spending about $5 to do this, which is about 25% of the distance between the strikes. an important poi