VIX declines as stock indexes rebound
Chris McKhann | email@example.com
Major equity indexes yesterday regained a bit of ground lost earlier this week, driving the CBOE Volatility Index lower.
The S&P 500 rose 6.57 points to 1697.48, just above Tuesday's close. The SPX also finished just above its 10-day moving average. Resistance is at Friday's high of 1709, while support is at 1670.
The Nasdaq 100 gained 11.43 points to 3130.12, its third-highest close, behind those of Friday and Monday. The NDX bounced squarely off its 10-day moving average during the session. It has some resistance at 3145 and support at 3030.
The Russell 2000 was up 5.14 points to 1049.47, below Tuesday's close. It has resistance at 1063 and support at 1020.
The VIX was down 0.25 points, or 1.93 percent, to 12.73. That was well off session lows of the volatility index, which bounced in midday trading.
The VIX futures were lower as well. The August contracts were down 0.30 points to 13.25, while the September futures lost 0.20 points to close at 14.85. That left the iPath S&P 500 VIX Short-Term Futures Note (VXX), which comprises the two nearest-month VIX futures, down 1.56 percent to $14.41.
Video: Huge June VIX call buy
May 22, 2015
Group One's Jamie Tyrrell says one large player purchased 140,000 July 18 calls in the VIX, adding to heavy upside buying earlier in the week.
Video: Heavy June VIX call action
May 21, 2015
A day after the May VIX contracts settled at 12.80, Group One's Jamie Tyrrell says 250,000 June calls changed hands.
Video: VIX June 17-18 call action
May 20, 2015
Following this morning's May contract settlement, Group One's Dominic Savino says traders are now targeting the VIX June 17 and 18 calls.
Video: VIX going into expiration
May 19, 2015
Group One's Jamie Tyrrell says traders are expecting a quiet May settlement tomorrow morning but are active in the June contracts.
Video: Low premium in May VIX
May 18, 2015
Group One's Jamie Tyrrell says VIX options are showing little premium levels ahead of the May settlement on Wednesday morning.