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VIX lower as equities end week mixed

Chris McKhann (chris.mckhann@optionmonster.com)

Equity indexes ended last week mixed while the gain in the S&P 500 pushed the CBOE Volatility Index and its futures lower.

The S&P 500 finished Friday's session at 1418.14, up a bit more than 4 points and near the morning highs. Resistance remains at 1420 and support at 1390.

The Nasdaq 100 finished the day down almost 16 points to 2640.54. It had traded above 2670 at the open but then dropped below 2632 in the lunch hour. Support and resistance are 2600 and 2700 respectively.

The Russell 2000 was up to 0.48 points close at 822.09. The small-cap index saw its entire range in early hours, popping above 825 and then dropping below 820. It remains between the support and resistance of 810 and 830.

The VIX was down 0.68 points, or 4.1 percent, to finish at 15.90. The December futures were down 0.45 points to 15.95, back above the spot VIX reading. But that will very likely not be the case today as the spot VIX reflects the pricing of the SPX options this morning, including the weekend time decay. The January futures were down 0.45 points to 17.20.

The SPX options traded 754,000 contracts, with puts slightly outpacing calls. The VIX options turned over 496,000 times, with 372,000 calls. The VVIX Index, which measures the implied volatility of the VIX options, was down 4 percent on the day to close at 80.74, just above its all-time lows.

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