VIX futures, index close near day's highs

The CBOE Volatility Index finished the day just off its highs as the S&P 500 slipped barely into the red.

The VIX was up 1.15 points, or 8.4 percent, to 14.85, just after it crested at 15 into the bell. The SPX fell before the bell but recovered into the close to finish down 0.18 points at 1403.93. The two indexes typically move inversely.

The VIX futures were also just off session highs. The August futures were up 0.60 points, or 3.8 percent, to 16.40. The September futures were up even more, gaining 0.70 points to close at 18.95.

The VIX options traded 453,000 contracts, with 290,000 calls. The iPath S&P 500 VIX Short-Term Futures ETN (VXX) saw more than 174,000 options change hands, 101,000 of which were calls. The VVIX Index, which measures the implied volatility of the VIX options, was up more than 5 percent to above 94.

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