VIX ends near highs even as SPX rises
Chris McKhann | email@example.com
The CBOE Volatility Index finished yesterday just off its session highs even as the S&P 500 rose as well, departing from their usually inverse relationship.
The VIX ended the day up 0.59 points, or 3.75 percent, at 16.32 after hitting a high of 16.53 in the last hour. The SPX finished the day at 1444.49, up slightly less than 4 points after steadily giving back gains from the first hour of the session.
The VIX futures ended the day mixed. The October contracts were up 0.60 points to 17 even as it held its premium over the spot index reading. The November futures gained 0.20 points to close at 18.25, and the December futures fell 0.05 points to 19.15.
The VIX options traded 280,000 contracts with 196,000 calls. The iPath S&P 500 VIX Short-Term Futures ETN (VXX) saw 138,000 options change hands, with slightly more calls than puts.
Video: Traders targeting higher VIX
October 9, 2015
The volatility index is little-changed today, but Group One's Jamie Tyrrell says some big trades are still looking for a higher VIX in October.
Video: VIX October 22 calls bought
October 8, 2015
The VIX Weeklies began trading today, but Group One's Jamie Tyrrell says the big trade is in standard options with a purchase of 45,000 VIX October 22 calls.
Videocast: VIX call buyers return
October 7, 2015
Group One's Jamie Tyrrell says traders were selling VIX calls early in the day but reversed course as the market rally fizzled.
Videocast: Volatility levels decline
October 6, 2015
Group One's Jamie Tyrrell says volatility trading today is implying that the type of VIX action from August and early September will not repeat itself.
Video: Traders see elevated VIX
October 5, 2015
Even with the volatility index falling below 20 today, Group One's Jamie Tyrrell says traders are buying calls and selling puts in the VIX.