This is interesting. With about 30-minutes left in the trading day, the non-LEH equity put/call ratio was about 0.86. With LEH it was about 1.13. I think we need to consider LEH plays smart money, so the equity put/call ratio is really closer to 0.86 rather than the elevated 1.13. LEH action is about 17% of the equity options traded today. Amazingly unusual.