VIX slips as equities bounce back
Chris McKhann | firstname.lastname@example.org
The CBOE Volatility Index ended slightly lower yesterday as equity indexes regained ground.
The S&P 500 was up 5.69 points to end the day at 1752.07, just a couple of points below Tuesday's all-time closing high. It has support at 1700.
The Nasdaq 100 gained 16.32 points to finish at 3362.37. It too is just off of Tuesday's close, which in this case is a 13-year high. It has support 3250.
The Russell 2000 rose 7.92 points to 1119.85, a new closing high for the small-cap index. It has support at 1087.
(When equity indexes are at highs, further resistance levels are obviously projections not based on previous trading patterns. We therefore will refrain from listing any.)
The VIX was down 0.22 points, or 1.64 percent, to 13.20. The November VIX futures were down 0.25 points to close at 14.45, and the December futures fell 0.10 points to 15.45. That left the iPath S&P 500 VIX Short-Term Futures Note (VXX) down 1.49 percent to $12.88.
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.
Video: VIX June 17-18 call action
May 20, 2015
Following this morning's May contract settlement, Group One's Dominic Savino says traders are now targeting the VIX June 17 and 18 calls.
Video: VIX going into expiration
May 19, 2015
Group One's Jamie Tyrrell says traders are expecting a quiet May settlement tomorrow morning but are active in the June contracts.
Video: Low premium in May VIX
May 18, 2015
Group One's Jamie Tyrrell says VIX options are showing little premium levels ahead of the May settlement on Wednesday morning.