Options Trading News

March 8, 2013  Fri 1:16 AM CT

Equity indexes continued to advance yesterday, setting more records and pushing the CBOE Volatility Index and its futures down again.

The S&P 500 picked up 2.8 points to close at 1544.26. The SPX hit its session high of 1545.78 shortly before the bell and is closing in on its highs from October 2007. Resistance is at the closing high of 1565, with support at 1520.

The Nasdaq 100 gained 6.9 points to close just below 2800 yet again, making up Wednesday's losses. It was the index's highest close since Oct. 5. Resistance is 2812 and support at 2700.

The Russell 2000 finished at 934.57, its session peak and a new all-time high. It has support at 915 and then at 900.

The VIX finished the day down 0.47 points, or 3.5 percent, to 13.06. It was just off the low of the day but held 13 throughout.

The VIX futures were down as well, with the March contracts falling 0.50 points to 14.20 while the April futures off 0.35 points to 15.20. That left the iPath S&P 500 VIX Short-Term Futures Note (VXX) down 2 percent to 21.95.

VIX option volume was relatively light at 246,000 contracts, with calls making up 153,000 of that volume. The VXX actually outpaced with 250,000 options, with puts leading at 159,000 contracts.

The VVIX Index, which measures the implied volatility of the VIX options, was down 2 percent to 77.16. 
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