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VIX climbs as small caps push higher

Chris McKhann (chris.mckhann@optionmonster.com)

The major US equity Indexes were all slightly higher at the end of Wednesday’s trade, including the VIX.

The S&P 500 Index was up just over three points to close out the session at 1391.03, not far off the day’s high in a tight session. Support and resistance remain at 1348 and 1400, respectively.
The Nasdaq-100 was just slightly less than six points to close at 2600.48. It has support and resistance at 2494 and 2623.

The Russell 2000 rose 0.58 percent, making it the biggest gainer on a percentage basis. It closed at 798.38, and support remains 764 while resistance is 805. 

All three indexes remained below their 20-day moving averages

The VIX ended the day at 15.31, up 0.23 or 1.53 percent. It fell to 14.77 immediately after the opening and climbed into the closing bell. This is odd SPX would typically price in time decay over the coming days, and there is only a half of a trading day between now and Monday.

The November VIX options settled at the opening, with a settlement of 15.05. The now front-month December futures gained 0.05 to 16.45. The January futures were up 0.25 to 18.3.

Total options volume was light, but not for the VIX. More than 749,000 VIX options traded, including 486,000 of which were calls. That made it second in volume only to the SPDR S&P 500 Fund. More than 560,000 SPX options traded with puts outnumbering calls by 2 to 1. The VVIX was down fractionally on the day to 85.85.

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