OptionsHouse

Options Trading News

March 27, 2013  Wed 12:10 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Equity indexes were back to the highs yesterday, driving the VIX and its futures lower.

S&P 500 rose 12 points to close at 1563.77, less than two points off the all time closing high. It continues to have resistance at that 1565 level from 2007, while is now 1538.

The Nasdaq 100 advanced 17 points to 2806.5, but is still unable to get out of the recent range. The resistance at 2817 holds and support is still at 2760.

The Russell 2000 also failed to make new highs. It was up 4 points to 949.82, within yesterdays range, but more importantly more than three points below the closing high from March 14. It has resistance at that high of 954 and support at 930.

The VIX fell 0.97, or 7 percent, to 12.77. Part of that decline may result from time decay being priced in before the coming three-day weekend. It rose off the day's low into the close and finished above the morning lows as well, even as the SPX rallied.

VIX futures followed to the downside. April contracts lost 0.35 to close out trading at 14.20. The May futures declned 0.25 to finish the day at 15.55. This had the VXX down 2.66 percent to 20.13, another new all time closing low.

The action was apparently dominated by selling as the VVIX, the volatility index of those VIX options, dropped 4.2 percent to 85.14.

Total options volume was light with less than 11.9 million. Just over 503,000 VIX options traded, with 386,000 calls.
Share this article with your friends


Related Stories

SPX

Stocks in holding pattern near highs

February 27, 2015

S&P 500 futures are down 0.15 percent but are less than a percentage point below Wednesday's peak. Most overseas markets were little-changed, aside from India, which rallied almost 2 percent.

SPX

GDP, Chicago PMI lead calendar

February 27, 2015

The Commerce Department will announce revised gross domestic product for the fourth quarter at 8:30 a.m. ET, followed by the Chicago Purchasing Managers index follows at 9:45 a.m. ET.

SPX

Futures inch higher after key data

February 26, 2015

S&P 500 futures are up about 0.1 percent ahead of key economic reports, while European markets gained about 0.3 percent on the heels of confidence numbers. Asia was strong overnight.

SPX

Durable goods lead today's docket

February 26, 2015

The Commerce Department will announce the numbers for January at 8:30 a.m. ET. Economists expect an increase of 1.7 percent overall and 0.5 percent excluding transportation equipment.

SPX

Stocks holding in range near highs

February 25, 2015

S&P 500 futures are off 0.1 percent, and most of Europe is down slightly more. Oil and currencies associated with global growth are trying to rebound on strong Chinese manufacturing numbers.

Invest Like a Monster - Las Vegas: March 13-14

Premium Services

Webinar Recording

Turbo Charge Your Trading Profits

Education & Strategy

The Strike-Based Greeks

The other Greeks (Gamma, Vega, and Theta) are calculated by using month and strike data, and not by individual option. These are called strike-based Greeks. Gamma, Theta, and Vega are all strike-based Greeks

View more education articles »