VIX jumps as equities give up gains
Chris McKhann | email@example.com
Equity indexes gave up gains late in the day amid concerns over Syria but ended little-changed, while the CBOE Volatility Index surged.
The S&P 500 was down 6.72 points to close at 1656.78. It was just shy of 1670 in the morning but slipped sharply late in the day into negative territory. It has resistance at 1680 and support at 1600.
The Nasdaq 100 was down just 1.59 points to close at 3122.67. It had climbed to 3147 and then gave up those gains late in the afternoon. It has resistance at 3149 and support at 3000.
The Russell 2000 was up just barely to close at 1038.47. It has resistance at 1055 and support at 1012.
The VIX was up 1.01 or 7.22 percent to 14.99, the high of the day. It had fallen to 13.90 but was positive for almost the whole session.
The VIX futures followed higher. The September futures were up 0.65 points to 15.85, and the October contracts rose 0.45 points to 16.70. That had the iPath S&P 500 VIX Short-Term Futures Note (VXX) up 3.31 percent to $15.29.
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.
Video: VIX going into expiration
May 19, 2015
Group One's Jamie Tyrrell says traders are expecting a quiet May settlement tomorrow morning but are active in the June contracts.
Video: Low premium in May VIX
May 18, 2015
Group One's Jamie Tyrrell says VIX options are showing little premium levels ahead of the May settlement on Wednesday morning.