Indexes rise again, pushing VIX lower
Chris McKhann | email@example.com
Major equity indexes rose again yesterday, driving the CBOE Volatility Index lower.
The S&P 500 was up 6.02 points, closing just shy of 1416. It did dip midday on "fiscal cliff" comments by House Speaker John Boehner but quickly recovered. Support remains at 1380 and resistance at 1428.
The Nasdaq 100 was up 14.76 points to 2680. It has support and resistance at 2600 and 2700.
The small-cap Russell 2000 had the best percentage gain of 1.19 percent, or 9.7 points, to finish the session at 823.20. Unlike the other two indexes, the RUT closed just off its session high. Support remains at 800 and resistance at 830.
The volatility index was down 0.45 points, or 2.9 percent to 15.06--just off the low of the day. The VIX futures were also lower, with the December and January contracts both down 0.30 points to 15.20 and 17 respectively.
More than 730,000 VIX options changed hands, with calls just barely outpacing puts. The SPX options turned over 615,000 times, with a put/call ratio of 2 to 1. The VVIX Index, which measures the implied volatility of the VIX options, fell another 2.45 percent to a new all-time low of 78.42.
Videocast: Futures see higher VIX
February 26, 2015
Although the spot volatility index remains below 14, Group One's Dominic Savino says the March VIX futures are targeting the 16 level.
Videocast: Low short-term volatility
February 25, 2015
Although a big player is buying VIX March 23 calls, Group One's Mike Palmer says the iPath S&P 500 VIX Short-Term Futures Note (VXX) settled today near 11.
Videocast: VIX falls as Yellen talks
February 24, 2015
Group One's Mike Palmer says traders are betting on lower volatility amid speculation that the Federal Reserve will not hike interest rates before the end of the year.
Videocast: The VIX ahead of Yellen
February 23, 2015
Volatility has calmed down after a rocky open today, but Group One's Mike Palmer says the VIX could move early tomorrow with Senate testimony by Fed Chair Janet Yellen.
Videocast: VIX on eve of settlement
February 17, 2015
The spot volatility index has bounced as expected after the three-day weekend, and Group One's Jamie Tyrrell says the action is in the VIX puts ahead of tomorrow's February expiration.