The CBOE Volatility Index closed nearly 10 percent higher yesterday, and the VIX futures rose sharply as well.
The VIX gained 2.18 points to finish at 24.27. It fell its session high of 24.93 shortly before the bell but was still up 9.87 percent on the day.
The S&P 500 saw a corresponding move to its low below 1311 before rallying into the close to 1314.88, still down 9.30 points. The SPX and the VIX usually move inversely.
The June VIX futures surged 1.5 points, or 6.4 percent, to 24.95. The July futures were up 1.15 points, or 4.5 percent, to 26.70.
Just shy of 300,000 VIX options traded, with 160,000 calls. And the iPath S&P 500 VIX Short-Term Futures ETN (VXX) saw 122,000 options trade, 74,000 of which were calls.
The SPX finished the day essentially exactly where it closed on Wednesday of last week. But the volatility index is up 10 percent and the June VIX futures have gained 6 percent in that same time frame.
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