VIX declines along with major indexes


All of the indexes, including the VIX, ended lower yesterday.

The S&P 500 finished the day just above its session low, down just over 4 points to 1408.75. Support is at 1407, then 1397. Resistance is at 1440, then 1465.

The Nasdaq 100 fell 10.47 points, or 0.4 percent, to 2655.55. It too touched the low just before the bell and finished slightly above that. Support remains at 2650, with 2606 the next level down. Resistance remains at 2715.

The Russell 2000 followed the same pattern, ending the day down 2.55 points, or 0.31 percent, to 813.65. Support is 807 and resistance at 846.

The VIX also fell, giving up 0.50 points, or 2.66 percent, to 18.33. The VIX usually moves in the opposite direction of the SPX, but yesterday's action made sense because the  actual volatility was lower. The VIX did dip below 18 at the open but perked up from there, hitting its high of the day shortly before the bell.

The November VIX futures fell exactly the same amount, losing 0.50 points to finish at $18.70. The December futures were down 0.30 points to 19.10.

More than 511,000 SPX options changed hands, led by 308,000 puts. The VIX options turned over 277,000 contracts, dominated by 206,000 calls. The VVIX Index, which measures the implied volatility of the VIX options, was down 3.3 percent to 96.39.

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