VIX below 17 as stocks extend streak
Chris McKhann | firstname.lastname@example.org
More gains in the major equity indexes yesterday made for the market's best three-day run in 2013.
The S&P 500 was up just shy of 10 points, or 0.62 percent, to close at 1613.20. Earlier in the session it peaked at 1620, the 20-day moving average, but found resistance there and pulled back. It has further resistance at 1652 and support at 1560.
The Nasdaq 100 was up 13 points, or 0.45 percent, to 2906.84. It has resistance at 3000 and support at 2825.
The Russell 2000 gained 16 points, or 1.67 percent, to finish at 979.92 as it led the other indexes in percentage gains. It resistance at 1000 and support at 943.
The CBOE Volatility Index continued its slide, giving up 0.35 points, or 2 percent, to finish at 16.86. The VIX touched 16.34 in the morning and vacillated from there. It remains at a discount to actual volatility in the S&P 500.
The VIX futures fell more than the spot volatility index. The July VIX futures shed 0.65 points to finish at 18.20, and the August contracts gave up 0.55 points to close at 19.05. This had the iPath S&P 500 VIX Short-Term Futures Note (VXX) down 4 percent to $20.81.
VIX drops again as equities rally
October 21, 2014
All of the major equity indexes were higher yesterday, driving the CBOE Volatility Index lower by more than 15 percent.
Videocast: Volatility quieting down
October 20, 2014
As stocks drift higher after last week's selloff, Group One's Jamie Tyrrell says the big trades today are selling October VIX calls.
VIX falls as equities close mixed
October 20, 2014
Equity indexes were mixed on Friday to finish a volatile week, while the CBOE Volatility Index dropped nearly 13 percent.
Videocast: Volatility down big today
October 17, 2014
Group One's Jamie Tyrrell says the volatility index is back down near the 20 level in today's rally, with near-term futures getting "crushed."
Videocast: November VIX calls sold
October 16, 2014
Group One's Jamie Tyrrell says traders are holding onto protection for the next few days but are selling the November VIX calls, apparently believing that volatility levels are too elevated.