Markets Rallying (for now), But VIX Still Rising
It is unusual to see the markets bounce off of a bottom and the VIX still continue to climb, but that is exactly what has happened over the past few minutes, with the VIX up to 80.35. This divergence usually resolves in a bearish fashion.
Interestingly, the VIX December 100 calls that I referenced in the previous post have pulled back to a bid/ask of 0.75 - 1.00, with 774 contracts now traded.
1 comments:
The cash Vix index closed at a new 2008 high of 80.86 and the Dec 100 calls closed at 1.10 - 1.25 on a volume of 1573 contracts. Friday November twenty-first should be an interesting trading day as it is options expiration day and the major stock market indexes closed at 2008 lows today.
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