VIX up even as stocks hit new highs
Chris McKhann | email@example.com
The equity indexes were mixed yesterday, though the S&P 500 and the Russell 200 hit all-time highs once again. Interestingly, the CBOE Volatility Index was also higher.
The S&P 500 gained 8.46 points to close at 1625.96, yet another new all time high. That was just off the intraday high that came an hour before the close. There was some volatility after the open, but then it climbed to those highs. Support is 1582.
The Nasdaq 100 was down 2.5 points to close out the session at 2952.88. It set an intraday high above 2961 just after the open. Support is 2854.
The Russell 2000 gained 8.02 points to finish at 967.82, a new high for that index as well. The RUT was up all day and finished at its session high. It has support at 933.
The VIX, which usually moves inversely to the S&P 500, bucked that trend yesterday. The volatility index rose 0.17 points, or 1.34 percent, to 12.83. It remains 16 percent above its 52-week low even as the SPX continues to hit new highs.
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Videocast: Buying April VIX calls
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As the market pulls back from yesterday's rally, Group One's Jamie Tyrrell says traders are buying VIX April 22, 26, and 27 calls.
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Group One's Jamie Tyrrell says traders are buying VIX April 22 and 26 calls for protection after a quiet March expiration.