VIX jumps as equities fall sharply
Chris McKhann | email@example.com
Equity indexes fell sharply yesterday, finishing at the lows of the day while the CBOE Volatility Index jumped almost 10 percent.
The S&P 500 was down 23.34 points, or 1.32 percent, to 1747.15. The benchmark index finished just off its session low. It has support at 1730 and then 1700. Resistance is at the all-time high of 1775.
The Nasdaq 100 was down 63.97 points, or 1.89 percent, to 3321.41. It too closed just off its lows of the day. The index has some support at 3300 and then 3220. Resistance is at 3408.
The Russell 2000 lost 19.55 points to 1079.09. The small-cap index has resistance at 1123 and support at 1044.
The VIX was up 1.24 points, or 9.79 percent, to 13.91. The volatility index was as high as 14.14 going into the close.
The VIX futures followed suit. The November futures were up 0.55 points to 14.25, while the December contracts gained 0.45 points to 15.40. That had the iPath S&P 500 VIX Short-Term Futures Note (VXX) up 3.54 percent to $12.70.
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.
Videocast: Target 35 level in VIX
October 2, 2015
Group One's Jamie Tyrrell says traders are targeting the 35 level for the volatility index in October, November, and December contracts.
Video: Traders sell VIX premium
October 1, 2015
Although the spot VIX remains elevated, Group One's Jamie Tyrrell says implied volatility is "pretty normal" for October.
Video: Sharp moves seen in VIX
September 30, 2015
Group One's Jamie Tyrrell says an October 23.50 straddle traded for about $5, indicating that a big move is expected in volatility levels.
Video: Big trades sell calls in VIX
September 29, 2015
Group One's Jamie Tyrrell says two big trades today are selling October 22 calls and closing a December 20/35 call spread.