VIX pops with stocks range-bound
David Russell | email@example.com
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 calls target 2008 level
February 11, 2016
Group One's Mike Palmer says at least one trader is buying VIX May 70 calls, looking for levels not seen since September 2008.
Video: Huge VIX call spread in focus
February 10, 2016
Group One's Jamie Tyrrell says traders are taking both sides of the VIX March 30/50 call spread, with heavy volume at yesterday's close taking it to 500,000.
Video: Big call selling in volatility index
February 9, 2016
With the market "all over the map today," Group One's Jamie Tyrrell says traders are selling the VIX February 28 calls and the March 30/40 call spread.
Video: Call buyers chase spike in VIX
February 8, 2016
Group One's Jamie Tyrrell says traders are buying February calls in the VIX amid today's market drop, targing the 25 to 29 levels.
Video: Near-term VIX calls purchased
February 5, 2016
Group One's Jamie Tyrrell says volatility traders had been looking farther out but are now picking up February 28 calls.