Options Trading News

November 19, 2013  Tue 1:47 AM CT

Equity indexes finished lower yesterday after hitting new highs, while the CBOE Volatility Index climbed back above 13.

The S&P 500 was down 6.65 points to close at 1791.53 after reaching a new intraday high of 1802.33 in the first minutes of trade. It fell sharply in the afternoon, dropping to 1788 before regaining a bit of ground in the final 30 minutes. It has support at 1775 and then 1745.

The Nasdaq 100 was down 33.71 points to close at 3388.87. It hit a 13-year intraday high of 3429.20 right out of the gate but followed the same pattern as the SPX in the afternoon. The NDX has support at 3300.
The Russell 2000 was down 8.91 points to 1107.29. It was as high as 1119.98 in the morning. The small-cap index has support at 1080. (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 up 0.91 or 7.5 percent to 13.1. Part of that gain was caused by the weekend time decay and the repricing of the SPX options on which the volatility index is based.

The VIX futures were unchanged at the end of the day. The November futures, which have only one day left to trade, closed at 13.25 as the December options finished at 14.30. With that the iPath S&P 500 VIX Short-Term Futures Note (VXX) was unchanged at $47.03.
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 »