VIX slips as equities bounce back
Chris McKhann | email@example.com
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.
Videocast: VIX traders look to June
March 4, 2015
Group One's Jamie Tyrrell says near-term VIX call buying has declined as traders are move to contracts in later months.
Videocast: Near-term pop in VIX?
March 3, 2015
Group One's Jamie Tyrrell says today's action in the VIX pits indicates that traders are positioning for volatility to rise in the near term.
Videocast: Traders see floor in VIX
March 2, 2015
Group One's Jamie Tyrrell says traders are selling March VIX puts, apparently believing that further downside potential in the volatility index is limited.
Videocast: VIX 'cash spread' hedge
February 27, 2015
Group One's Mike Palmer explains the strategy behind a VIX "cash spread" as traders cover positions going into the weekend.
Videocast: Futures see higher VIX
February 26, 2015
Although the spot volatility index remains below 14, Group One's Dominic Savino says the March VIX futures are targeting the 16 level.