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: June VIX calls bought again
May 27, 2015
Even though the market has reversed course with today's rally, Group One's Jamie Tyrrell says traders are buying VIX June 18 calls for the second session in a row.
Video: Volatility measures jump
May 26, 2015
Group One's Jamie Tyrell says traders are buying June and July VIX calls with the spot index up 15 percent and the nine-day CBOE Short-Term Volatility Index (VXST) spiking 40 percent.
Video: Huge June VIX call buy
May 22, 2015
Group One's Jamie Tyrrell says one large player purchased 140,000 July 18 calls in the VIX, adding to heavy upside buying earlier in the week.
Video: Heavy June VIX call action
May 21, 2015
A day after the May VIX contracts settled at 12.80, Group One's Jamie Tyrrell says 250,000 June calls changed hands.
Video: VIX June 17-18 call action
May 20, 2015
Following this morning's May contract settlement, Group One's Dominic Savino says traders are now targeting the VIX June 17 and 18 calls.