The CBOE Volatility Index finished last week back near 17.
The VIX ended Friday down 0.4 points, or 2.3 percent, to 17.10. This came even as the S&P 500 fell 12.90 points, or 0.94 percent, to 1354.68. The two indexes typically move inversely.
The VIX futures followed the volatility index lower. The July futures had been positive for most of the day but finished down 0.6 points, or 3.2 percent, to 18.20. The August contracts did likewise, ending down 0.35 points to 20.55, while the September futures were down 0.40 points to 22.30.
The VIX options traded 227,000 contracts, led by 174,000 calls. Surprisingly the volume in the iPath S&P 500 VIX Short-Term Futures ETN (VXX) was even greater once again, turning over 268,000 contracts. That volume was almost exactly split down the middle for calls and puts.
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