VIX climbs as stocks reverse lower
Chris McKhann | email@example.com
The equity indexes gave up a bit of ground yesterday after a string of record rallies, pushing the CBOE Volatility Index and it futures higher.
The S&P 500 finished the day at 1626.67, giving up 6 points. It hit a new intraday high of 1635.01 in the early afternoon but slid from there. That session high could be resistance, while support is at 1587.
The Nasdaq 100 was down 7.12 points to 2961.11. The NDX hit a 13-year intraday high in the afternoon, climbing above 2980. That session peak could be resistance, with support at 2864.
The Russell 2000 slipped 4.15 points to 966.26. The small-cap index briefly broke above 970, a new intraday high. It has support at 936.
The VIX was up 0.47 points, or 3.71 percent, to 13.13. It traded as high while 13.53 as the S&P 500 dropped, as the two indexes usually move inversely. The VIX remains at a discount to the 20-day historical volatility for the SPX, which is 14.6 percent.
The May VIX futures gained 0.15 points to close at 14.15, and the June futures were up 0.20 points to 15.30. This had the iPath S&P 500 VIX Short-Term Futures Note (VXX) up 1.8 percent to end the day at $18.64 after breaking above $19 as the volatility index peaked.
Videocast: VIX not showing panic
March 26, 2015
Despite the market's downturn this week, Group One's Jamie Tyrrell says traders apparently do not believe that the VIX will hit the 20 level.
Videocast: April, August VIX calls
March 25, 2015
As the market selloff accelerates midday, Group One's Mike Palmer says traders are buying protection through VIX calls in April and August.
Videocast: Looking for higher volatility
March 24, 2015
Group One's Jamie Tyrrell says investors are buying upside calls in the VIX and selling puts, looking for the volatility index to push higher.
Videocast: Buying April VIX calls
March 19, 2015
As the market pulls back from yesterday's rally, Group One's Jamie Tyrrell says traders are buying VIX April 22, 26, and 27 calls.
Videocast: VIX settlement at 15.67
March 18, 2015
Group One's Jamie Tyrrell says traders are buying VIX April 22 and 26 calls for protection after a quiet March expiration.