The CBOE Volatility Index spiked higher at the open but fell throughout the afternoon yesterday, finishing the session lower.
The VIX closed at 16.80, down 0.28 points, or 1.64 percent. The S&P 500 gained in the final minutes of the day to close at 1365.51, just below the morning high. The two indexes usually move inversely.
The VIX futures were all significantly lower. The July contracts were down 1.40 points, or more than 7 percent, to 18.15. The August futures were also down 1.4 points to 20.55.
The VIX options traded 292,000 contracts. The iPath S&P 500 VIX Short-Term Futures ETN (VXX) saw 215,000 options change hands. Calls slightly outpaced puts in both.
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