Volatility rebounds as equities slip
Chris McKhann | firstname.lastname@example.org
Equity indexes lost a bit of ground yesterday, ending their recent winning streak and driving the CBOE Volatility Index higher.
The S&P 500 was down 6.24 points to 1676.26. It dipped below 1672 at midday and then bounced around from there. The index's intraday high of 1687 may continue to be resistance, while support is at 1629.
The Nasdaq 100 fell just over 2 points to 3077.46, right in the middle of the day's range. It has resistance at 3170 and support at 3000.
The Russell 2000 lost 4.55 points to finish up at 1038.75. It has resistance at 1085 and support at 1018.
The VIX added 0.63 points, or 4.57 percent, to close at 14.42. Its session high of 14.56 came about 30 minutes before the bell.
The VIX futures followed suit. July futures, which settle this morning, rose 0.20 points to finish at 14.25. The August VIX futures gained 0.45 points to close at 16.20. This had the iPath S&P 500 VIX Short-Term Futures Note (VXX) up 2.59 percent to $17.41.
Videocast: VIX going to Weeklies
May 28, 2015
Group One's Jamie Tyrrell says new VIX Weekly options will soon replacee available, replacing the nine-day CBOE Short-Term Volatility Index (VXST) contracts.
Video: June VIX calls bought again
May 27, 2015
Even though the market has reversed course with today's rally, Group One's Jamie Tyrrell says traders are buying VIX June 18 calls for the second session in a row.
Video: Volatility measures jump
May 26, 2015
Group One's Jamie Tyrell says traders are buying June and July VIX calls with the spot index up 15 percent and the nine-day CBOE Short-Term Volatility Index (VXST) spiking 40 percent.
Video: Huge June VIX call buy
May 22, 2015
Group One's Jamie Tyrrell says one large player purchased 140,000 July 18 calls in the VIX, adding to heavy upside buying earlier in the week.
Video: Heavy June VIX call action
May 21, 2015
A day after the May VIX contracts settled at 12.80, Group One's Jamie Tyrrell says 250,000 June calls changed hands.