The CBOE Volatility Index bounced into yesterday's close but still finished lower even as the VIX futures were mostly higher.
The VIX finished the day down 0.32 points, or 1.9 percent, to 16.16. It was near its low of 15.69 heading into the close before rebounding. The S&P 500 finished the day up more than 9 points to 1372.78. The two indexes are inversely correlated.
The VIX futures were mixed after the July contracts settled in the morning at 16.76. The now-front-month August VIX futures were up 0.10 points to 18.65, and the September contracts were flat at 20.55, while the rest of the futures were higher.
More than 640,000 VIX options changed hands yesterday, 455,000 of which were calls. The iPath S&P 500 VIX Short-Term Futures ETN (VXX) saw 135,000 options trade, with 75,000 calls.
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