VIX rises as major stock indexes slip
Chris McKhann | email@example.com
The CBOE Volatility Index inched higher yesterday as the major equity indexes all finished slightly lower.
The S&P 500 slipped 1.37 points to close at 1470.68, a level that continues to be resistance. The SPX fell to session lows in the first hour and climbed back. Support remains at 1420.
The Nasdaq 100 ended the day at 2735.70, down 12.56 points, or almost 0.5 percent. The index, which was weighed down primarily by a steep loss in Apple shares, fell below 2725 in the morning but gained back a bit of that ground. Support and resistance remain at 2670 and 2785 respectively.
The Russell 2000 Index was down just 0.67 points to 880.10. It too remains right up at resistance, while support is 853.
The VIX was up 0.16 points, or 1.2 percent, to close at 13.52. But the VIX futures were lower, with the January contracts off 0.05 points to 14.10 and the February futures down 0.10 points to 15.90.
Just shy of 468,000 VIX options traded, with calls outpacing puts by more than 2 to 1. The VVIX Index, which measures the implied volatility of the VIX options, was down fractionally at 78.28.
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.
Videocast: Huge VIX call spread sold
February 4, 2016
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
February 3, 2016
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.