Stocks, volatility index little-changed
Chris McKhann | firstname.lastname@example.org
The equity indexes were mixed but essentially unchanged at the end of yesterday's session, and the CBOE Volatility Index was fractionally lower.
The S&P 500 was up just 0.07 points to close at 1633.77. It dipped to 1627 just after the open, then climbed to a new intraday record high of 1636. Support remains at 1597.
The Nasdaq 100 was up just 1.07 points to 2982.09. It too closed in the middle of its range for the day. Support is at 2869.
The Russell 2000 was down 1.37 points to close at 973.79. Support is at 940.
The VIX off 0.32 percent to 12.55. The volatility index had dipped to 12.49 in the morning and almost matched that level just before the closing bell.
The VIX futures were mixed, with May contracts down 0.20 points to 13.65 and June futures flat at 15.10. This had the iPath S&P 500 VIX Short-Term Futures Note (VXX) down 0.43 percent to 18.38.
Videocast: VIX traders look to June
March 4, 2015
Group One's Jamie Tyrrell says near-term VIX call buying has declined as traders are move to contracts in later months.
Videocast: Near-term pop in VIX?
March 3, 2015
Group One's Jamie Tyrrell says today's action in the VIX pits indicates that traders are positioning for volatility to rise in the near term.
Videocast: Traders see floor in VIX
March 2, 2015
Group One's Jamie Tyrrell says traders are selling March VIX puts, apparently believing that further downside potential in the volatility index is limited.
Videocast: VIX 'cash spread' hedge
February 27, 2015
Group One's Mike Palmer explains the strategy behind a VIX "cash spread" as traders cover positions going into the weekend.
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.