Options Trading News

December 12, 2012  Wed 1:16 AM CT

The major equity indexes gained ground yesterday, pushing the CBOE Volatility and VIX futures lower.

The S&P 500 was up 9.29 points to close at 1427.84. It climbed above 1434 but slipped in the last two hours of trade. The index did break through resistance, which is now at that 1434 level, while support is at 1398.

The Nasdaq 100 added 1.3 percent or 34.50 points, to close at 2682.07 with the help of a 2.18 percent gain in heavily weighted Apple. It followed a pattern similar to that of the SPX, climbing above 2696 at the morning high. Support and resistance remain at 2600 and 2700 respectively.

The Russell 2000 was up 8.73 points to 834.99, almost matching its morning high. It too broke through resistance, which now moves higher to 842, while support remains at 810.

The market action drove the VIX down 0.48 points, or 3 percent, to 15.57. It hit a low of 15.42 in the morning and briefly rose above 16 before pulling back in the last hour.

The December VIX futures fell 0.40 points to close at 15.60. The January futures were down 0.55 points to 16.50.

The SPX options traded 760,000 contracts, and in a rare occurrence calls outpaced the puts. More than 461,000 VIX options changed hands, led by 325,000 calls. The VVIX Index, which measures the implied volatility of the VIX options, was down 3.5 percent to a new low of 78.70.
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