The CBOE Volatility Index fell slightly yesterday, but its futures were mixed.
The VIX slipped at the end of the session to close lower by 0.22 points, or 1.5 percent, at 14.30. The S&P 500 had another day of little action as it gained 1.60 points to 1405.53. The two indexes usually move inversely.
The VIX futures were mixed, widening the contango among the contracts. The August futures were down 0.20 points to 16.20, while the September futures were unchanged at 19. The October contracts gained 0.10 points to close at 20.95.
More than 308,000 VIX options traded, with calls outpacing puts by almost 5 to 1. The iPath S&P 500 VIX Short-Term Futures ETN (VXX) options traded 163,000 contracts, with 119,000 calls. The VVIX Index, which measures the implied volatility of the VIX options, was up another 3.8 percent to just shy of 98.
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