Stocks, volatility index little-changed
Chris McKhann | [email protected]
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: Traders buying VIX puts
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Even with stocks down sharply today, Group One's Jamie Tyrrell says traders are buying in-the-money VIX May 16 puts apparently in the believe that volatility will pull back.
Videocast: VIX call buyer returns
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A day after the April settlement, Group One's Jamie Tyrrell says a big player is back buying the VIX May 19 and 23 calls.
Videocast: April VIX settles at 13.81
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The April VIX contracts settled at 13.81 this morning, but Group One's Jamie Tyrrell says traders are now buying the May 19 and 23 calls.
Videocast: VIX on eve of expiration
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On the day before the April expiration, Group One's Jamie Tyrrell says traders are focusing on the VIX 14 puts and 15 calls.
Videocast: Huge VIX June trade
April 13, 2015
Group One's Jamie Tyrrell breaks down the strategy behind a three-way cash spread in June contracts that traded 650,000 times.