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VIX down with more stock records

Chris McKhann (chris.mckhann@optionmonster.com)

Equity indexes again climbed to new highs last week, pushing the CBOE Volatility Index and its futures lower.

The S&P 500 picked up 7.03 points to end Friday's session at 1633.70. That was a record closing high, the fourth of the week. Thursday was the only down day for the index, and even then it reached an all-time intraday high of 1635.01. The SPX vacillated between gains and losses until the early afternoon and then took off from there. It has support at 1597.

The Nasdaq 100 also finished at the very high of the day, rising 19.90 points to 2981.02. That is also another 13-year high. It has support at 2870.

The Russell 2000 was up 8.90 points to 975.16. That was the best percentage gain of the three indexes, up 0.92 percent. It too finished at the day's high and a new all-time peak.

The VIX lost 0.54 points, or 4.11 percent, to finish at 12.59. That remains well above the lows and even the lows from Tuesday.

The VIX futures were also lower. The May contracts lost 0.36 points to close at 13.85, while the June futures were down 0.30 points to 15.05. That had the iPath S&P 500 VIX Short-Term Futures Note (:VXX) down 1 percent to 18.46, above the levels from Tuesday and Wednesday.

The VIX options volume picked back up as 697,000 contracts changed hands, dominated by 626,000 calls. The VXX options also saw good action with 445,000 contracts traded, though puts won out with 251,000.

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