The CBOE Volatility Index plunged at the end of yesterday's session, posting its lowest close since March 26.
The VIX collapsed to 15.45, down 0.71 points, or 4.4 percent as the S&P 500 finished the day up 0.27 percent. The VIX has closed lower that that level only twice in the last 52 weeks.
The VIX futures were also lower, with the August and September contracts both down 0.45 points to 18.20 and 20.15 respectively. That pushed the iPath S&P 500 VIX Short-Term Futures ETN (VXX) down 2.33 percent to yet another new closing low.
More than 450,000 VIX options changed hands, with calls outpacing puts by more than 3 to 1 as upside buyers stepped in. The VXX options traded 252,000 times, with 138,000 puts slightly outpacing calls.
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