OptionsHouse

Options Trading News

January 4, 2013  Fri 12:45 AM CT

VIX: SEE CHART GET CHAIN FIND STRATEGIES
The big three equity indexes all finished the day fractionally lower, as did the CBOE Volatility Index.

The S&P 500 was down 3.05 points to close just below 1460 after climbing to 1465.47, its highest intraday level since Oct. 5. The SPX fell in the last two hours but did finish above the lows of the day. Support remains at 1420 and resistance at 1475.

The Nasdaq 100 followed a similar pattern but saw steeper losses. It was down 14.21 points, more than 0.5 percent, to close at 2732.26 after reaching a high of 2750 during the day. The losses leave the index back near Wednesday's open but still well above Monday's close. It has support at 2670 and resistance at 2785.

The Russell 2000 slipped 0.82 points, or just 0.09 percent, to close at 872.60. It was almost 6 points higher during the session at a new intraday high above 878. Support remains at 850 for the small-cap index, which hit a new all-time high of 873.42 on Wednesday.

The VIX ended the day down 0.12 points to 14.56 after dipping to 14.24 as the SPX hits its session highs. The two indexes usually move inversely.

The near-term VIX futures were higher, as the January contracts gained 0.25 points to 15.85 and the February futures rose 0.20 points to 16.95. These futures have seen consecutive record volume days this week.

The iPath S&P 500 VIX Short-Term Futures ETN (VXX) and other short-term VIX-based funds and notes hit record intraday lows despite gaining on the day.
 
More than 847,000 VIX options changed hands, making it No. 2 on the total option volume list, led by 471,000 calls. The VVIX Index, which measures the implied volatility of the VIX options, closed at a new record low of 77.02 after giving up another 2.2 percent on the day.
Share this article with your friends


Related Stories

VIX

Videocast: VIX call buying returns

April 27, 2015

Group One's Jamie Tyrrell says upside VIX buyers are back after taking a break last week, today opening a May 16/21 call spread 32,000 times.

VIX

Videocast: VIX premiums fall more

April 24, 2015

As the market continues its rally today, Group One's Jamie Tyrrell says demand for upside VIX contracts falls off the cliff.

VIX

Videocast: Cheap protection in VIX

April 23, 2015

With the spot VIX and its futures falling today, Group One's Jamie Tyrrell says traders are coming back to buy protection with premiums low.

VIX

Videocast: May call selling in VIX

April 22, 2015

Group One's Jamie Tyrrell says a big player who bought more than 100,000 May calls recently is starting to let go of those options.

VIX

Videocast: Surge in May VIX calls

April 21, 2015

Group One's Jamie Tyrrell says a major volatility trader is back accumulating VIX calls in the May 20 and 21 strikes.

Invest Like a Monster - San Diego: June 26-27

TRADING WEEKLY OPTIONS

The fastest money in the market
View full report »

Premium Services

Education & Strategy

Vega

There is another Greek which measures the effects on an option's price buy changing the amount of extrinsic value in the option, and that Greek is Vega...

View more education articles »