VIX down as equities erase losses
Chris McKhann | email@example.com
Equity indexes ended last week with a strong rebound from Thursday's selloff, driving the CBOE Volatility Index back below 13.
The S&P 500 was up 23.46 points to finish at 1770.61. That was its second-highest close and made up for Thursday's losses. It has support at 1720. (When equity indexes are at highs, further resistance levels are obviously projections not based on previous trading patterns. We therefore will refrain from listing any.)
The Nasdaq 100 was up 45.53 points to 3366.84. Resistance is at 3408 and support at 3300.
The Russell 2000 gained 20.89 points to close 0.03 points shy of 1100. That too was enough to regain Thursday's losses, though was not the high of the week. The small-cap index has resistance at 1123 and support at 1043.
The VIX was down 1.01 points, or 7.26 percent, to 12.90. That was just a fraction above its session low, as the volatility index lost ground all day.
The VIX futures fell slightly. Both the November and December futures were down 0.10 points, to 13.60 and 14.85 respectively. The iPath S&P 500 VIX Short-Term Futures Note (VXX) was down 2.18 percent to 48.62, a new all-time closing low.
Video: VIX call buyers loading up
November 30, 2015
Group One's Jamie Tyrrell says volatility traders are buying 15,000 VIX December 20 calls and 30,000 January 30 calls today.
Video: VIX traders sell premium
November 25, 2015
As activity slows the day before Thanksgiving, Group One's Jamie Tyrrell says traders are selling December 21 calls.
Video: Big call spreads in the VIX
November 24, 2015
After the VIX Weekly contracts settled at 16.56 this morning, Group One's Jamie Tyrrell says today's big trades are December and February call spreads.
Video: Complex January call play
November 23, 2015
As volume slows this Thanksgiving week, Group One's Jamie Tyrrel says the largest trade today is buying the January 19 calls and selling the January 24 and 26 calls.
Video: Will VIX hold at 16 level?
November 20, 2015
The spot volatility index is dropping below 16 today, but Group One's Jamie Tyrrell says one large put seller does not expect the VIX to go much lower.