The CBOE Volatility Index finished the day just off its highs as the S&P 500 slipped barely into the red.
The VIX was up 1.15 points, or 8.4 percent, to 14.85, just after it crested at 15 into the bell. The SPX fell before the bell but recovered into the close to finish down 0.18 points at 1403.93. The two indexes typically move inversely.
The VIX futures were also just off session highs. The August futures were up 0.60 points, or 3.8 percent, to 16.40. The September futures were up even more, gaining 0.70 points to close at 18.95.
The VIX options traded 453,000 contracts, with 290,000 calls. The iPath S&P 500 VIX Short-Term Futures ETN (VXX) saw more than 174,000 options change hands, 101,000 of which were calls. The VVIX Index, which measures the implied volatility of the VIX options, was up more than 5 percent to above 94.
Trading News
Related Stories
VIX
Videocast: Traders bet on limits in VIX
May 24, 2013
Even as the VIX rises again today, Group One's Jamie Tyrrell says large traders are selling puts and calls in positions that are looking for the volatility index to stay between 13 and 16.
VIX
Stock recover early losses; VIX at 14
May 24, 2013
Equity indexes were mixed at the end of yesterday's session after recovering morning losses, quelling fears that the previous session's sharp selloff would continue. The VIX rose back above 14.
VIX
Videocast: Traders selling top in VIX
May 23, 2013
With today's surge in the volatility index, GroupOne's Jamie Tyrrell says traders are selling VIX calls at the 16 and 17 levels.
VIX
VIX, futures rise with market reversal
May 23, 2013
Equity indexes finally gave up some ground yesterday, pushing the CBOE Volatility Index and its futures higher. The Russell 2000 had the worst percentage loss of the equity indexes, down 1.65 percent.
VIX
Videocast: Parsing huge VIX volume
May 22, 2013
GroupOne's Jamie Tyrrell breaks down today's huge volume in volatility trading after the May VIX settlement came in right at expectations.
