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n83

06/10/04 2:42 PM

#27318 RE: Justa Werkenstiff #27315

used to think high p/c (volume) ratios w dropping vix/vxo was closing of puts but these numbers have not resulted in drop of put OI..rather the reverse..unless someone is really bullish and selling volatility betting the market stays in a range..of course the other side the buyers could win here