VIX and its futures rise along with SPX

Chris McKhann (chris.mckhann@optionmonster.com)
November 1, 2012

The equity indexes were mixed yesterday as the S&P 500, the CBOE Volatility Index, and the VIX futures all higher.

The S&P 500 was up 0.22 points to end the day at 1412.16. It finished roughly in the middle of the session's range after jumping at the open and then falling to 1406 before climbing into the close. Support and resistance remain at 1407 and 1440 respectively.

The Nasdaq 100 was down on the day, losing 17.91 points to close at 2647.92. Resistance remains at 2715 while support is now 2606.

The Russell 2000 was up the same percentage as the NDX was down, gaining 5.48 points to close at 818.73. Resistance is 846 while support is 807.

The VIX ended the day up 0.79 points, or 4.44 percent, to 18.60. The volatility index had been as high as 18.84 in midday trading, then fell to 18.30 before rebounding some at the end of the session. The VIX usually moves inversely to the S&P 500.

The VIX futures were also higher, with the November contracts up 0.65 points to 18.90 and the  December futures up 0.6 to 19.50. The spot VIX had spend most of the day above those levels.

Overall option volume was expectedly light at just under 12 million contracts as the markets reopened after their two-day closure. The SPX options traded 374,000 contracts, with 202,000 puts. The VIX options were just behind at 368,000, with 245,000 calls. 

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