While reporters will be talking about the VIX topping out above 45% and the SPX breaking 1100 for the first time in 2011, those in the know do not seem to be too impressed by what was going on yesterday.
The SPX took the dive I expected yesterday, but, I don’t think that is the end of it because IV is still ramping up
Traders, I have two points to make today. First, I see little to celebrate in yesterday's market movement. The SPX closed up over 2%, and the DOW was up almost 3%, but the VIX did not move in the same manner as SPX.
Over the last few weeks, I have pointed out on several occasions that Iron Condors look like a nice trade.
Are you one of the many people who believe in mean reversion? Do know that the VIX is eventually going to 20 and unlikely to sit perfectly still at 32-33 over the next few days?
The CBOE announced when the SPX PM Settle options will officially be listed, and that date is October 4th
I have often said that in order to win playing options directionally traders need to be right twice
Yesterday on my podcast 'The Option Block', my co-hosts and I were talking about the massive turnaround. This led to a discussion about what assets were risky in relative terms.
I took note yesterday that the CBOE Volatility index, the VIX, is trading at a higher level than the CBOE Nada 100 Volatility index: the VXN.
In GLD, we saw a 'panic vol spike' intraday as traders rushed to buy premium in the product.
I'm sure it is not news to any of you that NVDA was up over 1.00 after the bell on blow out earnings
On Friday, the CBOE officially announced that they will list in the very near future SPX PM Settle options on the C2 Options Exchange.