look what kraourd oil has done that we have seen cross the commodities space. >> we'll see bull market leaders point to prices as beneficial. >> if they're going down for the right reason. >> exactly, scott. and that's the problem. lower crude is showing us lower global demand. it's the first time in the last few years we are talking about a potential global recession, not just a european problem. global recession forces are much stronger than monetary policymakers. >> pocket square in. he's ready to rock and roll. >> all i want to say is look out below. >> that's my point. >> that is terrifying. the thing is, we already had a bunch of volatility. for option traders, realize volatility is what you get when you buy options. we have had a boat load of it. just above 18 is right at the average for june 22nd, going back about 20 years. so i think options are actually fairly pricier. they're actually lower than they should be given all the problems we have in europe. one thing about uso, the crude oil, etf, you have to go back to may when more puts traded than calls. i think this break in c