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To: Sun Tzu who wrote (1330)	8/29/2001 5:27:26 PM
From: Jim Willie CB	Read Replies (1) \| Respond to of 2505

VIX is function of OEX option premiums, not open interest VIX still indicates complacency, as opposed to fear or panic if all those calls being sold covered now contain small premium, then that fortifies lower VIX readings, like now a VIX at 25 or under is anything but bullish 25 tells we are an ooch shy of extreme on the Complacent Scale indicates plenty of downside here your argument holds water for Put/Call ratio unsure where that ratio sits now my hat is off to you on profiting in this envmt hey, Didi, how you be doing? / jim