The gap narrowed between the CBOE Volatility Index and the VIX futures as the major stock indexes gave up more ground yesterday.
The VIX finished at 15.11, up 0.78 points, or 5.44 percent on the day. It closed a big of the gap to the October futures, which gained 0.20 points to 15.95. The November futures were up 0.15 points to 17.40.
The SPX and VIX options each traded about 258,000 contracts. Calls led the VIX options with 140,000 contracts, while puts made up the majority of the SPX volume with 170,000.
The S&P 500 gave up 5.05 points to end the day at 1455.88. Resistance remains at 1471 and support at 1438.
The Nasdaq 100 lost 25.02 points to close at 2786.92. It appears to be completing a bearish "head and shoulders" top pattern with a potential downside target of 2680. Resistance is 2851 and support is 2780.
The Russell 2000 index fell 4.45 points to close at 838.41. Resistance for the small-cap index is 856 and support is 832.
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