Right, we've been above about .7 on the equity side since before this week started. I haven't seen much in the way of distortion in the ratio in the last couple of days. I believe the author was referring to what he perceives as a rise in the total p/c ratio over the last couple of weeks.
the call sellers who have sold them at high volatility premiums would take lower losses if they would buy them back at lower volatility, wouldn't they?
Is that one of the possible reasons for VIX/VXN distortion you are writing about?
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