The Volatility of the Stock Market

The term structure has been, and I'm trying to pull up my term structure chart real quick, it appears that August is coming closer and closer in line with July. It's kind of interesting that the curves, it's kind of flat-ish going into the fall. As far as Vix goes, yeah, I just agree with Russell. We have kind of a steepening, contango. The premiums have come down somewhat over the last week. But from a ball point of view, it's a very boring, very boring, normal looking, contango curve and it's getting a little bit more normal as Vix gets back to 12.