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.
Videocast: Traders see floor in VIX
March 2, 2015
Group One's Jamie Tyrrell says traders are selling March VIX puts, apparently believing that further downside potential in the volatility index is limited.
Videocast: VIX 'cash spread' hedge
February 27, 2015
Group One's Mike Palmer explains the strategy behind a VIX "cash spread" as traders cover positions going into the weekend.
Videocast: Futures see higher VIX
February 26, 2015
Although the spot volatility index remains below 14, Group One's Dominic Savino says the March VIX futures are targeting the 16 level.
Videocast: Low short-term volatility
February 25, 2015
Although a big player is buying VIX March 23 calls, Group One's Mike Palmer says the iPath S&P 500 VIX Short-Term Futures Note (VXX) settled today near 11.
Videocast: VIX falls as Yellen talks
February 24, 2015
Group One's Mike Palmer says traders are betting on lower volatility amid speculation that the Federal Reserve will not hike interest rates before the end of the year.