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The CBOE is only 30% of the equity business......... in it's remaining
days.
My open interest is actually bigger.
But who's counting. My 401(k) is still there.
-----Original Message-----
From: BobR [mailto:bobrabcd@xxxxxxxxxxxxx]
Sent: Thursday, March 21, 2002 1:46 PM
To: realtraders@xxxxxxxxxxxxxxx
Subject: Re: [RT] For the folks with VIX interest
The current $C/($C+$P) exchange ratios individually and as a composite don't
reflect an extreme condition either way right now. The CBOE is an exception
in that its ratio is a contrarily bullish 0.3439. 0.25 would be really
bullish. 0.75 would be really bearish. Overall the 4 major option
exchanges (less Alex's exchange) are kinda neutral looking.
bobr
----- Original Message -----
From: Ira Tunik <mailto:irat@xxxxxxxxx>
To: realtraders@xxxxxxxxxxxxxxx <mailto:realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, March 21, 2002 10:25 AM
Subject: Re: [RT] For the folks with VIX interest
Could it be that the market makers and others know where the tops and
bottoms are in the market. For the VIX, the implied volatility of the OEX,
to be low would mean that selling was driving the options prices down.
Conversly, does someone know that the bottom is in place in order to come in
and buy the options and force the VIX to highs. It is the buying and
selling of options that controls the VIX, so when options buyers are most
optomistic it is a low and when they are most pessemitic it is a high.
Could this be true? Could someone actually know what was going to happen
next. But it would take a lot of people to effect the VIX, so everybody
knows? Ira
Lee Morris wrote:
so what is your current interpretation of the vix
-----Original Message-----
From: Earl Adamy [ mailto:eadamy@xxxxxxxxxx <mailto:eadamy@xxxxxxxxxx> ]
Sent: Thursday, March 21, 2002 11:21 AM
To: realtraders@xxxxxxxxxxxxxxx
Subject: Re: [RT] For the folks with VIX interest
Once again Barron's timing is off on the use of VIX. One of Barron's
columnists wrote last November that a (then) low VIX reading was forecasting
a sharp sell-off in the market. (At the same time, may RT traders were
calling for the same major sell-off). My own historical research had
revealed that when a major bottom was put in place, a low VIX could be
associated with a modest correction rather than a major sell-off. I sent the
attached chart to the columnist together with a suggestion that he do more
complete research before making such statements. The attached chart (current
data top two charts, 1998 data bottom two charts)was also published to RT.
The configuration of the market is now a bit different than it was when the
original piece was published so low VIX readings must be interpreted a bit
differently i.e. low VIX readings are likely more critical than they were in
the post-911 rally.
The fact is, that VIX must be carefully interpreted in light of the major
price patterns, breadth, and other indicators.
Earl
----- Original Message -----
From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, March 20, 2002 9:26 PM
Subject: Re: [RT] For the folks with VIX interest
Leave it to Barrons to say not to worry about a low vix...another example of
ignore the media please. Its a question of probability and ye olde meany
reversion.
bobr
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