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: 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.
Video: Traders sell VIX premium
October 1, 2015
Although the spot VIX remains elevated, Group One's Jamie Tyrrell says implied volatility is "pretty normal" for October.
Video: Sharp moves seen in VIX
September 30, 2015
Group One's Jamie Tyrrell says an October 23.50 straddle traded for about $5, indicating that a big move is expected in volatility levels.
Video: Big trades sell calls in VIX
September 29, 2015
Group One's Jamie Tyrrell says two big trades today are selling October 22 calls and closing a December 20/35 call spread.