VIX slips again with stocks mixed
Chris McKhann | firstname.lastname@example.org
Major equity indexes were mixed but little-changed at the end of yesterday's session as the CBOE Volatility Index continued to decompress.
The S&P 500 was down 3.18 points to 1722.34. It slid lower for most of the day and then moved sideways for the final two hours. It has support at 1680.
The Nasdaq 100 was up 6.30 points to finish at 3237.61, another 13-year high. Support is 3150.
The Russell 2000 lost 1.70 points to close at 1075.27. It has support at 1040.
(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 fell along with the SPX as the two indexes again bucked their usual inverse relationship. The volatility index was down 0.43 points, or 3.16 percent, to 13.16. That was its lowest close in more than a month and came even as the 20-day actual volatility for the SPX remains at 10 percent.
The VIX futures were mixed, with the October contracts up 0.05 points to 14.75 and the November futures flat at 15.90. Despite that, the iPath S&P 500 VIX Short-Term Futures Note (VXX) was down fractionally to $13.58, another all-time closing low.
Videocast: VIX going to Weeklies
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Group One's Jamie Tyrrell says new VIX Weekly options will soon replacee available, replacing the nine-day CBOE Short-Term Volatility Index (VXST) contracts.
Video: June VIX calls bought again
May 27, 2015
Even though the market has reversed course with today's rally, Group One's Jamie Tyrrell says traders are buying VIX June 18 calls for the second session in a row.
Video: Volatility measures jump
May 26, 2015
Group One's Jamie Tyrell says traders are buying June and July VIX calls with the spot index up 15 percent and the nine-day CBOE Short-Term Volatility Index (VXST) spiking 40 percent.
Video: Huge June VIX call buy
May 22, 2015
Group One's Jamie Tyrrell says one large player purchased 140,000 July 18 calls in the VIX, adding to heavy upside buying earlier in the week.
Video: Heavy June VIX call action
May 21, 2015
A day after the May VIX contracts settled at 12.80, Group One's Jamie Tyrrell says 250,000 June calls changed hands.