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To: Leland Charon who wrote (2926)9/1/1998 9:34:00 AM
From: Patrick Slevin  Respond to of 44573
 
<may be contributed to people covering there shorts to raise money to meet margin calls>

Not to me. Why would someone need to make a margin call if they are making money on the short side? Conversely, if the balance of their position is long and the short side was not enough to offset a decline in the long side then the hedge was insufficient in the first place.

Sounds alike a manufactured news item.

How 'bout this VIX number?
~~~~~~~~~~~~~~~~~~~~~~~~~~
CBOE Market Stats for August 31, 1998

Put/Call Ratio: 1.14

VIX OPENING VALUE: 39.26
VIX HIGH VALUE : 50.66
VIX LOW VALUE : 38.70
VIX CLOSING VALUE: 48.33