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.
Video: Huge VIX call spread in focus
February 10, 2016
Group One's Jamie Tyrrell says traders are taking both sides of the VIX March 30/50 call spread, with heavy volume at yesterday's close taking it to 500,000.
Video: Big call selling in volatility index
February 9, 2016
With the market "all over the map today," Group One's Jamie Tyrrell says traders are selling the VIX February 28 calls and the March 30/40 call spread.
Video: Call buyers chase spike in VIX
February 8, 2016
Group One's Jamie Tyrrell says traders are buying February calls in the VIX amid today's market drop, targing the 25 to 29 levels.
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.