Options Trading News

July 23, 2013  Tue 1:47 AM CT

Equity indexes gained on the day, with two of the three pushing to new record highs while the CBOE Volatility Index declined.

The S&P 500 as up 3.44 points to 1695.53, another record-high close. The SPX broke above 1697 in the morning but then went sideways. It has support at 1652.

The Nasdaq 100 was up 10.30 points to 3055.23, trying to make up some of Friday's losses. It has resistance at 3091 and support at 3000.

The Russell 2000 picked up 2.93 points to close at 1053.41. That wasn't far off the intraday high and is a new closing high. It has support at 1000.

(When equity indexes are at highs, further resistance levels are obviously projections not based on previous trading patterns, so I will refrain from listing them.)

The VIX was down 0.25 points, or 1.99 percent, to 12.29--the very low of the day. It remains higher than actual volatility, with the 20-day historical rate of the SPX at 9.3 percent and the 10-day reading at 7.3 percent.

The August VIX futures lost 0.20 points to close at 14.70, and the September futures slipped 0.30 points to 16.20. This had the the iPath S&P 500 VIX Short-Term Futures Note (VXX) down 2.1 percent to $15.83. 
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