"The debate is irresolvable, " says Kirk Curnutt, vice president of the F.

WSJ: Zelda Fitzgerald's Moment

Dean Curnutt at Macro Risk Advisors figures that in early March the Credit Suisse fund had to trade the equivalent of 3, 300 VIX futures contracts daily, or about 4% of the entire day's volume.

WSJ: Chaos Over a Plunging Note

Mr. Curnutt says an answer of sorts can be found in a letter Scott wrote to Zelda in 1930, in which he argued that they were both to blame for their unhappiness and creative troubles.

WSJ: Zelda Fitzgerald's Moment

"Those are decent-sized numbers, " said Mr. Curnutt.

WSJ: Chaos Over a Plunging Note