Stock indexes take breather after gains
Chris McKhann | email@example.com
Equity indexes gave up a bit of ground on Friday but had good gains for the week.
The S&P 500 pulled back 2.92 points, or 0.18 percent, to close at 1582.24. It spent almost the entire session in negative territory, dipping to 1578 in midday trading. Resistance remains at 1597 and support at 1540.
The Nasdaq 100 was down 8.11 points, or 0.28 percent, to 2804.55. The NDX followed the same pattern as the SPX, falling to 2830 and then cutting its losses. Resistance is at 2860 and support at 2743.
The Russell 2000 was down 5.03 points, or 0.53, percent to 935.25. Resistance is at 954 and support at 900.
The CBOE Volatility Index was down just 0.01 points to 13.61 after trading as high as 14.18 midday. The May VIX futures were flat at 14.80, while the June contracts gained 0.05 points to finish at 15.55. The iPath S&P 500 VIX Short-Term Futures Note (VXX) was up just 0.01 points to 19.26.
The VIX saw only 262,000 options change hands, seemingly seeing some spillover from Thursday's CBOE outage. The VXX traded more than 344,000 options, as its volume continues to trend higher.
Video: VIX pits shift to November
October 13, 2015
With the October settlement next week, Group One's Jamie Tyrrell says VIX traders are moving ahead by selling November 15 puts and buying a November 22/28 call spread.
Video: Buying cheap calls in the VIX
October 12, 2015
As the spot volatility index drops below 17, Group One's Jamie Tyrrell says traders are buying 70,000 VIX November 30 calls for $0.50.
Video: Traders targeting higher VIX
October 9, 2015
The volatility index is little-changed today, but Group One's Jamie Tyrrell says some big trades are still looking for a higher VIX in October.
Video: VIX October 22 calls bought
October 8, 2015
The VIX Weeklies began trading today, but Group One's Jamie Tyrrell says the big trade is in standard options with a purchase of 45,000 VIX October 22 calls.
Videocast: VIX call buyers return
October 7, 2015
Group One's Jamie Tyrrell says traders were selling VIX calls early in the day but reversed course as the market rally fizzled.