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No tradeable volatility index would make sense. The new index will be
just that....merely a benchmark index to measure against. There was
some thought about trading a VIX option at the beginning,but I think the
reality was simply not enough natural sellers. Besides you can buy/sell
vega now(as the institutions who will use the benchmark do now)so you
would just be taking volume from SPX and moving it to a product where
the public might be disadvantaged.
Again the new index should begin quoting in the next couple of months.
Also remember OEX splits 2 for 1 on 11/24.
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