Friday, October 17, 2008

VIX Closes Over 70 for First Time (70.33)

The VIX managed to tick above the 70 mark in the last minute of trading today to surpass last Friday's record close of 69.95. The volatility index had spend all of the last three hours of trading below the previous record, but jumped higher after the equity market closed and just as index options trading was winding down at 4:15 p.m. ET.

The VIX's intra-day high of 74.48 never challenged yesterday's record of 81.17, but the spike at the close suggests that investors continue to remain skittish about weekend headline risk. Warren Buffet may be saying "be greedy when others are fearful," but for many, this is easier said than done.

1 comments:

peterthepainter said...

i have added your blog to my list...very interesting...and useful.ta!

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