The Inflation Swap

If if you buy a four % cap and you never get inflation, weyou never did any delta hedging. There was no cost. It doesn't the cost of that option ends up. You don't actually pay a premium. That option actually never costs you anything. If you're highly levered andyouhave epsilon capital, then, you know, that's not necessarily a great thing to be able to do. Can we go back to the inflation swamp? Because i do have a question,. as a someone who's just dipping my toe in, trying to learn all these things, i started pricing it out. And i was trying to price the front end of the curve