According to last week’s data from the Commodity Futures Trading Commission (CFTC), large traders and speculators increased their bearish trades in VIX futures for a second consecutive week. This is a sixth week of increases out of seven weeks, reported Counting Pips.
For VIX non-commercial futures contracts (large speculator and hedge fund positions), the May 6 data disclosed a net bearish position of -63,466. This represented a -17,980 change from the April 29 -45,486 net contracts. With this second straight rise for bearish contracts, it now has overall contracts at its highest bearish positions since back on January 28 when net positions were at -65,504 contracts.
In addition, when reviewing the VIX during the same time period, it also saw a second straight week of increases from 13.71 (April 29) to May 6’s 13.80, according to CBOE data.?
Will we see a third straight week? On Monday, the VIX closed at 12.23, down 5.34%.
This came on a good day for the S&P 500 and the Dow. The SPX had its greatest one-day?percentage rise since April 16 as it rose 18.17 points (1%) to 1,896.65.?
The Dow saw its fourth straight day of increases as it jumped 112.13 points (0.7%) to close at 16,695.47.