The CBOE Volatility Index collapsed into the close yesterday as the S&P 500 rebounded to finish unchanged.
The VIX ended the day at 17.95, down 0.77 points, or 4.11 percent. It was above 19 within the last 90 minutes as the SPX hit its session low under 1334. The two indexes usually move inversely.
The VIX futures also fell into the bell. The July futures were down 0.95 points to 18.30, and the August contracts were down 0.75 points to 20.45. This left the iPath S&P 500 VIX Short-Term Futures ETN (VXX), which comprises those two nearest-dated futures, down 3.2 percent to $14.06.
The VIX options traded more than 421,000 contracts, 305,000 of which were calls. The VXX options trailed well behind the index with 141,000 options changing hands, as calls just slightly outpaced puts.
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