VIX dips into the red in closing minutes
Chris McKhann | firstname.lastname@example.org
The CBOE Volatility Index was higher for most of yesterday's session but fell into negative territory in the final minutes.
The VIX finished down 0.26 percent, or 0.04 points, to 15.28 as the S&P 500 eked out a gain of 0.04 percent to settle at 1402.80. The two indexes are inversely correlated.
The VIX futures also fell into the close. The August futures were down 1.5 percent, or 0.25 points, to 16.55. The September contracts lost 0.30 points to end the day at 18.60.
More than 358,000 VIX options traded, 231,000 of which were calls. The iPath S&P 500 VIX Short-Term Futures ETN (VXX) saw 174,000 contracts change hands, with puts slightly outpacing calls.
The VVIX Index, which measures the implied volatility of the VIX options, was down to a new low, below 84.
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.