VIX pops with stocks range-bound
David Russell | firstname.lastname@example.org
Stocks remained in a tight range yesterday, but the CBOE Volatility Index closed near its highs.
The S&P 500 slipped 0.02 percent to 1841.47, fluctuating less than 4 points in the entire session. Support is at 1810, which was resistance before the benchmark index's recent breakout.
The Nasdaq 100 declined 0.11 percent to 3570.08. Support remains at 3515.
The Russell 2000 was down 0.04 percent to 1160.59. The small-cap index has support at 1132.
(When equity indexes are at highs, further resistance levels are obviously projections not based on previous trading patterns. We therefore will refrain from listing any.)
The CBOE Volatility Index, which usually moves in the opposite direction of the S&P 500, rose 8.83 percent to 13.56. It was the highest close since Dec. 20.
Videocast: VIX put selling pays off
July 30, 2015
The VIX is little-changed today, and Group One's Jamie Tyrrell explains how recent put selling has paid off for volatilty traders.
Video: Case study in VIX pullback
July 29, 2015
Group One's Jamie Tyrrell says the volatility index's move down in the last week illustrates just how quicly the VIX can fall as well as rise.
Video: Traders unload puts in VIX
July 28, 2015
As the market rallies today, Group One's Jamie Tyrrell says traders are selling August 14 and 14.50 VIX puts in the belief that downside will be limited.
Video: Call buyers ride pop in VIX
July 27, 2015
With the spot volatility index jumping well above 15 today, Group One's Jamie Tyrrell says VIX call buyers are targeting the 20 strike in August and September.
Video: Steady buying in VIX calls
July 24, 2015
With the market down again today, Group One's Jamie Tyrrell says traders are snapping up calls in August, September, and October.