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September 25, 2012  Tue 12:45 AM CT

VIX: SEE CHART GET CHAIN FIND STRATEGIES
The CBOE Volatility Index rose into yesterday's close, moving back into positive territory even as the VIX futures fell.

The volatility index finished at 14.15, up 0.17 points. It started the day above 15 and fell below 14 before rebounding. The S&P 500 entered the final hour positive but ended down 3.26 points at 1456.89. The two indexes usually move inversely.

The October VIX futures were down 0.15 points to close at 15.90, and the November futures fell 0.35 points to 17.55. The drop in these VIX futures pushed the iPath S&P 500 VIX Short-Term Futures ETN (VXX), the VelocityShares Daily 2X VIX Short-Term Note (TVIX), and the ProShares Trust Ultra VIX Short Fund (UVXY) all to new lows.
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The Movement of Delta

In our last column, we spoke about delta. You might remember that we discussed what delta was and what factors affected or changed delta. As you recall, we stated that three factors will have an effect on delta. They were movements of time, volatility, and underlying price. Today, we want to take a further look into the change of delta, this time focusing on change due to the movement in the underlying price. 

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