VIX down as equities erase losses
Chris McKhann | firstname.lastname@example.org
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.
Videocast: VIX going to Weeklies
May 28, 2015
Group One's Jamie Tyrrell says new VIX Weekly options will soon replacee available, replacing the nine-day CBOE Short-Term Volatility Index (VXST) contracts.
Video: June VIX calls bought again
May 27, 2015
Even though the market has reversed course with today's rally, Group One's Jamie Tyrrell says traders are buying VIX June 18 calls for the second session in a row.
Video: Volatility measures jump
May 26, 2015
Group One's Jamie Tyrell says traders are buying June and July VIX calls with the spot index up 15 percent and the nine-day CBOE Short-Term Volatility Index (VXST) spiking 40 percent.
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.