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.
Video: VIX October 22 calls bought
October 8, 2015
The VIX Weeklies began trading today, but Group One's Jamie Tyrrell says the big trade is in standard options with a purchase of 45,000 VIX October 22 calls.
Videocast: VIX call buyers return
October 7, 2015
Group One's Jamie Tyrrell says traders were selling VIX calls early in the day but reversed course as the market rally fizzled.
Videocast: Volatility levels decline
October 6, 2015
Group One's Jamie Tyrrell says volatility trading today is implying that the type of VIX action from August and early September will not repeat itself.
Video: Traders see elevated VIX
October 5, 2015
Even with the volatility index falling below 20 today, Group One's Jamie Tyrrell says traders are buying calls and selling puts in the VIX.
Videocast: Target 35 level in VIX
October 2, 2015
Group One's Jamie Tyrrell says traders are targeting the 35 level for the volatility index in October, November, and December contracts.