VIX back below 17 as stocks rebound
Chris McKhann | firstname.lastname@example.org
Equity indexes rebounded strongly yesterday, more than making up for Wednesday's losses as the market continues to see volatile swings.
The S&P 500 gained 23.84 points, or 1.48 percent, to close at 1636.36. It climbed steadily all day and closed just below the session high, which came right before the bell. The action brought the SPX back near Monday's open. It has support at 1600 and resistance at 1670.
The Nasdaq 100 rose 36.76 points, or 1.26 percent, to close at 2962.90. The index followed the same pattern as the SPX, and its gains more than made up for Wednesday's losses. It has support at 2910 and resistance at 3010.
The Russell 2000 had the best percentage gain of the three indexes, climbing 1.79 percent--more than 17 points--to finish at 989.69, near Monday's open. It has support at 968 and resistance at 1000.
The action pushed the CBOE Volatility Index down by 2.18 points, or 11.73 percent, to close at 16.41.
The June VIX futures, which have just three sessions left to trade, fell 1.50 points to 16.75. The July futures lost 0.85 points to close at 17.70. This had the iPath S&P 500 VIX Short-Term Futures Note (VXX) down 4.6 percent to close at 20.22.
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.
Videocast: Low short-term volatility
February 25, 2015
Although a big player is buying VIX March 23 calls, Group One's Mike Palmer says the iPath S&P 500 VIX Short-Term Futures Note (VXX) settled today near 11.
Videocast: VIX falls as Yellen talks
February 24, 2015
Group One's Mike Palmer says traders are betting on lower volatility amid speculation that the Federal Reserve will not hike interest rates before the end of the year.
Videocast: The VIX ahead of Yellen
February 23, 2015
Volatility has calmed down after a rocky open today, but Group One's Mike Palmer says the VIX could move early tomorrow with Senate testimony by Fed Chair Janet Yellen.
Videocast: VIX on eve of settlement
February 17, 2015
The spot volatility index has bounced as expected after the three-day weekend, and Group One's Jamie Tyrrell says the action is in the VIX puts ahead of tomorrow's February expiration.