VIX rises as equity indexes stumble
Chris McKhann | firstname.lastname@example.org
Major equity indexes lost ground yesterday, driving the CBOE Volatility Index higher.
The S&P 500 was down 6.32 points to close at 1685.33. That was the middle of a relatively tight range in place all day. Resistance is at 1699 and support at 1652.
The Nasdaq 100 gave up 7.27 points to finish at 3068.95. Unlike the SPX it had gains in the morning, but it too finished in the middle of its session range. Resistance is at 3091 and support at 3000.
The Russell 2000 fell 7.84 points to 1040.66. The small-cap index saw relatively steep losses in the early going. Resistance is now at 1057 and support at 1000.
The VIX was up 0.67 points, or 5.27 percent, to 13.39 after hitting 13.86 in the morning. The VIX futures followed higher, as the August contracts gained 0.20 points to close at 14.65 and the September futures rose 0.10 points to 15.95. This had the iPath S&P 500 VIX Short-Term Futures Note (VXX) up 1.29 percent to $15.71.
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.
Videocast: Huge VIX call spread sold
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As the market continues to churn, Group One's Jamie Tyrrell says today's big trade is the sale of a VIX March 30/40 call spread 115,000 times.
Videocast: Big March call spread in VIX
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As the market pulled back this morning, Group One's Jamie Tyrrell says a major player bought a March 30/40 call spread 150,000 times.
Video: VIX traders buying March calls
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As volatility rises with today's market decline, Group One's Jamie Tyrrell says traders are purchasing the VIX March 30 and 35 calls.