The CBOE Volatility Index fell again on Friday to its lowest close of the week as the S&P 500 climbed to the highest finish since May 3.
The VIX bounced off the low of the day after the bell as the SPX was just off its highs. The two indexes usually move inversely.
The volatility index ended the day down 0.83 points, or 4.7 percent, at 16.70. The S&P 500 was up 25.95 points, or 1.91 percent, to 1385.97.
The August VIX futures were down 0.55 points, or 2.9 percent, to 18.6. The September futures were down 0.25 points to 20.65.
VIX option volume was 294,000 contracts, with 171,000 calls. The iPath S&P 500 VIX Short-Term Futures ETN (VXX) options were just behind at 281,000 contracts, 161,000 of which were calls.
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