Volatility trading is light after CBOE outage
Chris McKhann | email@example.com
The CBOE is back up after an outage closed trading for several hours today, but volumes remain light on the exchange.
The CBOE Volatility Index options, which trade exclusively on the exchange, have seen only 13,000 contracts turn over since operations resumed at 1 p.m. ET. Volume is thin on the S&P 500 Index options as well, with 63,000 contracts.
The VIX is down 0.42 points, or 3.09 percent, to 13.19 this afternoon. It was moving earlier but readings were suspect because of the outage, which lasted all morning.
The VIX futures were apparently unaffected by the disruption but are also seeing light volume. The May futures are down 0.20 points to 14.45, while the June futures are down 0.10 points to 15.30.
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.
Video: VIX June 17-18 call action
May 20, 2015
Following this morning's May contract settlement, Group One's Dominic Savino says traders are now targeting the VIX June 17 and 18 calls.
Video: VIX going into expiration
May 19, 2015
Group One's Jamie Tyrrell says traders are expecting a quiet May settlement tomorrow morning but are active in the June contracts.
Video: Low premium in May VIX
May 18, 2015
Group One's Jamie Tyrrell says VIX options are showing little premium levels ahead of the May settlement on Wednesday morning.