Trade DJX Dow Jones Versus S&P 500 - Relative Vol?

So now you spoke about trading DJX Dow Jones versus S&P 500. Are you talking about relative vol or are we talking about sort of directional spreads? Relative vol. We were trading vol back and forth between the two when we could get one underpriced. When S&P vol got sold to us, we could take it off in the Dow relatively easily as well. So we would trade the relative vol, the two against each other.