VIX pops with stocks range-bound
David Russell | [email protected]
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 call buying returns
April 27, 2015
Group One's Jamie Tyrrell says upside VIX buyers are back after taking a break last week, today opening a May 16/21 call spread 32,000 times.
Videocast: VIX premiums fall more
April 24, 2015
As the market continues its rally today, Group One's Jamie Tyrrell says demand for upside VIX contracts falls off the cliff.
Videocast: Cheap protection in VIX
April 23, 2015
With the spot VIX and its futures falling today, Group One's Jamie Tyrrell says traders are coming back to buy protection with premiums low.
Videocast: May call selling in VIX
April 22, 2015
Group One's Jamie Tyrrell says a big player who bought more than 100,000 May calls recently is starting to let go of those options.
Videocast: Surge in May VIX calls
April 21, 2015
Group One's Jamie Tyrrell says a major volatility trader is back accumulating VIX calls in the May 20 and 21 strikes.