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Perhaps the VIX is undergoing an industrial revoulution so to speak and
isn't responding like it used to. VIX is only calculated on OEX(cboe) data
right. Perhaps the other playrooms have taken the sting or zipidedodah out
of VIX readings. Earl, may have something there with viewing it in a macro
context.
bobr
----- Original Message -----
From: "Jacobson, Alex" <AJacobson@xxxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, March 21, 2002 10:50 AM
Subject: RE: [RT] For the folks with VIX interest
> 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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