VIX up as Russell 2000 leads selloff
Chris McKhann | [email protected]
Equity indexes pared early losses but still finished lower yesterday, while the CBOE Volatility Index and its futures rose.
The S&P 500 was down 11.70 points, or 0.7 percent, to close at 1648.36. It had dipped to 1640 in the morning before regaining some ground and finishing in the middle of the day's range. Resistance remains at 1687 and support at 1635.
The Nasdaq 100 lost 17.12 points, or 0.57 percent, to close just below 2994.82. It bounced at 2980 before grinding higher. Resistance is at 3053 and support at 2965.
The Russell 2000 fell 10.39 points, or 1.04 percent, to 986.96. That was the worse percentage loss of the three indexes, giving up most of Tuesday's gains in the RUT. Resistance is at 1008 and support at 977.
The VIX was up 0.35 points, or 2.42 percent, to 14.83. It had climbed to 15.65 when the SPX bottomed.
The VIX futures were mixed, with the June futures gaining 0.20 points to close at 15.40 and th July contracts up 0.05 points to 16.40. This had the iPath S&P 500 VIX Short-Term Futures Note (VXX) up 1.52 percent to $18.55.
Videocast: Big selling in VIX calls
May 6, 2015
Even as the market falls for the second day in a row, Group One's Jamie Tyrrell says a big player sold 30,000 May 18 calls.
Video: Muted activity in VIX calls
May 5, 2015
Even with the May futures rising above 15, Group One's Jamie Tyrrell says there has been surprisingly little interest in buying VIX calls.
Video: Traders target VIX 14 level
May 4, 2015
The volatility index is positive despite gains in the S&P 500, bucking their usual inverse relationship, and Group One's Jamie Tyrrell says traders continue to target the VIX 14 level.
Videocast: May VIX call buys return
May 1, 2015
With VIX futures falling as the market rebounds today, Group One's Jamie Tyrrell says 38,000 VIX May 18 calls were purchased today.
Videocast: VIX traders turn to June
April 30, 2015
Group One's Jamie Tyrrell says volatility traders are targeting June VIX contracts today as the recent heavy May call buying has apparently subsided.