in the current environment banks are leading the rally, but volatility is likely to return.but, volatility can remain low for long periods of time. in this trade i see certainty in either direction as a positive. this trade captures either delta change or volatility expansion in the main leading sector. in this trade we take a russell proxy KRE and SP 500 proxy XLF. both underlinings are extremely liquid and IV is low in both.im expecting positive certainty that being said the trade setup will be the russell proxy KRE (3-- 100 wide bull calls) and the sp500 proxy XLF (2--100 wide bear put spreads). the ratio is based on CME's risk management suggestion for russell vs SPX.