VIX falls below 14 as S&P rises again
Chris McKhann | firstname.lastname@example.org
Equity indexes ended yesterday mixed, while the CBOE Volatility Index and its futures tumbled again.
The S&P 500 was up 5.14 points to close at its session high of 1689.13. It was negative for the first couple of hours before climbing out of its hole. It has resistance at 1700 and support at 1627.
The Nasdaq 100 was down 5.21 points to 3179.86. It dipped to 3160, weighed down by Apple, but also closed at its high of the day. The NDX has resistance at Tuesday's high of 3189 and support at 3060.
The Russell 2000 was off 0.38 points to 1055.34, the middle of its range for the day. The small-cap index has resistance at its high of 1063 and support at 1010.
The VIX fell 0.71 points, or 4.89 percent, to close at the session low of 13.82. The 20-day actual volatility of the S&P 500 is still above 11 percent, so the VIX's premium is quite low.
The VIX futures followed lower. Both the September and October futures were down 0.6 to 14.55 and 15.75 respectively. That had the iPath S&P 500 VIX Short-Term Futures Note (VXX) down 3.18 percent to $14.47.
S&P 500 hits new high; VIX slips
March 10, 2014
Equity indexes finished Friday mixed and little-changed despite another new high in the S&P 500, while the CBOE Volatility Index closed slightly lower.
Videocast: More call selling in VIX
March 7, 2014
Group One's Jamie Tyrrell says call Vsellers dominate VIX trading again today, continuing a theme he has seen in recent days whenever the volatility index pops.
SPX at new highs on mixed day
March 7, 2014
The S&P 500 hit new all-time highs yesterday, while other equity indexes slipped. The CBOE Volatility Index climbed back above the 14 level.
Videocast: VIX volumes 'trickle off'
March 6, 2014
Group One's Jamie Tyrrell says volatility traders aren't pricing in much possibility of a big selloff in the next few weeks.
Videocast: VIX selling continues
March 5, 2014
With no new issues arising over Ukraine, Group One's Jamie Tyrrell says traders are continuing to exit positions in VIX calls as volatility declines.