Options Trading News

July 24, 2013  Wed 1:14 AM CT

Equity indexes closed lower by varying degrees yesterday, while the CBOE Volatility Index and its futures were mixed.

The S&P 500 fell 3.14 points to 1692.39. It started the day by climbing to an intraday high of 1698.78 but quickly gave up those gains. The SPX then traded in a relatively tight range until closing near the lows. Suport is at 1652.

The Nasdaq 100 was down 23.83 points at 3031.39. Its volatility has been picking up in the last few days. Resistance is at Thursday's intraday high of 3091, while support is at 3000.

The Russell 2000 slipped 1.21 points to 1052.20. It also climbed to a new intraday high right after the open, hitting 1056.86, but fell by late morning. It has support at 1000.

(When equity indexes are at highs, further resistance levels are obviously projections not based on previous trading patterns, so I will refrain from listing them.)

The VIX finished higher by 0.37 points, or 3.01 percent, to 12.66. The volatility index dropped to 12.07 at the open, barely above its lows from April 12, when the SPX was 100 points lower.

The VIX futures declined, with the August and September contracts both down 0.05 points to 14.65 and 16.15 respectively. This had the iPath S&P 500 VIX Short-Term Futures Note (VXX) down 0.51 percent to $15.75, a new record low.  
Share this article with your friends

Related Stories


Video: VIX traders sell premium

November 25, 2015

As activity slows the day before Thanksgiving, Group One's Jamie Tyrrell says traders are selling December 21 calls.


Video: Big call spreads in the VIX

November 24, 2015

After the VIX Weekly contracts settled at 16.56 this morning, Group One's Jamie Tyrrell says today's big trades are December and February call spreads.


Video: Complex January call play

November 23, 2015

As volume slows this Thanksgiving week, Group One's Jamie Tyrrel says the largest trade today is buying the January 19 calls and selling the January 24 and 26 calls.


Video: Will VIX hold at 16 level?

November 20, 2015

The spot volatility index is dropping below 16 today, but Group One's Jamie Tyrrell says one large put seller does not expect the VIX to go much lower.


Video: VIX call buying accelerates

November 19, 2015

Group One's Jamie Tyrrell says heavy VIX call buying continues to mount this week, with 96,000 December 27 contracts purchased today.


Premium Services

Education & Strategy

The art of trading

As I stated in last week's article, a break out or a break down needs to have a couple things happen before it is considered a confirmed break out or break down. The only problem is that in today's market where things move much more quicker than they did just a few years ago, two days could wind up being the majority of the expected movement, if not the whole movement.

View more education articles »