Options Trading News

September 21, 2012  Fri 12:45 AM CT

The CBOE Volatility Index closed slightly higher yesterday as the S&P 500 climbed at the end of the session to finish only fractionally lower.

The VIX ended the day up 0.19 points, or 1.4 percent, to 14.07 after climbing to 14.68 at the open and then sliding to its lowest level of the session right at the close. This came as the SPX recouped intraday losses and finished the session off less than 1 point at 1460.26. The two indexes usually move inversely.

The VIX futures were higher as well, outpacing the spot index. The October and November futures were both up 0.30 points, to 16.35 and 18 respectively. The iPath S&P 500 VIX Short-Term Futures ETN (VXX) and the ProShares Trust Ultra VIX Short Fund (UVXY), which comprise those two front-month futures, posted new all-time lows yet again.

The VIX options traded 522,000 contracts, led by 395,000 calls. The VXX options changed hands about 256,000 times, with 160,000 calls. The VVIX Index, which measures the implied volatility of the VIX options, held just below 89.
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