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: Near-term VIX calls purchased
February 5, 2016
Group One's Jamie Tyrrell says volatility traders had been looking farther out but are now picking up February 28 calls.
Videocast: Huge VIX call spread sold
February 4, 2016
As the market continues to churn, Group One's Jamie Tyrrell says today's big trade is the sale of a VIX March 30/40 call spread 115,000 times.
Videocast: Big March call spread in VIX
February 3, 2016
As the market pulled back this morning, Group One's Jamie Tyrrell says a major player bought a March 30/40 call spread 150,000 times.
Video: VIX traders buying March calls
February 2, 2016
As volatility rises with today's market decline, Group One's Jamie Tyrrell says traders are purchasing the VIX March 30 and 35 calls.
Video: VIX traders split on next move
February 1, 2016
With the market pausing after last week's rallies, Group One's Jamie Tyrrell says traders are buying both March 15 puts and Weekly 20 calls.