Options Trading News

November 7, 2012  Wed 12:45 AM CT

The equity indexes all closed higher, driving the CBOE Volatility Index sharply lower.

The S&P 500 was up 11.13 points to end the day at 1428.39 but only after falling into the close, ending up back below its 20-day moving average. The 1432 level proved resistance as the index traded above that level just briefly on a couple of occasions. Support remains at 1403 and resistance at 1434.

The Nasdaq 100 was up 8.14 points to close at 2681.05. The index approached its 20-day moving average as it hit a session high above 2695 but finished well below that level. Support and resistance are still 2636 and 2701 respectively.

The Russell 2000 gained 6.27 points to close at 825.64, following an almost identical pattern as the SPX's. But unlike the other indexes, the RUT did finish just above its 20-day moving average. It has support at 807 and resistance at 830.

The VIX was down 0.84 points to 17.58. It traded as low as 17.20 and then climbed through the afternoon. It remains above the November futures, which were down 1.05 points, or 5.8 percent to 17.05,. The December VIX futures fell 0.85 points to 18.05.

More than 630,00 SPX options traded on the day as puts slightly outpaced calls. The VIX options traded 301,000 contracts, with calls outnumbering puts by 2 to 1. The VVIX Index, which measures the implied volatility of the VIX options, was down 3.5 percent to 87.56.
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