Futures Archives - CBOE Blogs

  • VIX | Futures | Jun 24, 2016, 10:46 AM

    14 Volatility Indexes (including VXEFA, JYVIX & VIX®) Rise by More Than 10% Friday Morning

    14 Volatility Indexes (including VXEFA, JYVIX & VIX®) Rise by More Than 10% Friday Morning

    After the news of the results on the Brexit referendum were disclosed, implied volatility for many key securities worldwide rose, and the values of 14 volatility indexes at CBOE – (tickers: VXEFA, JYVIX, EVZ, VXO, VIX®, VXN, VXGS, VXXLE, VXD, EUVIX, VXIBM, VXST, VXGOG, and RVX) – rose by more than 10% by 9 am CT on Friday, June 23. To see updates on price movements for 29 volatility indexes, visit www.cboe.com/volatility. FUTURES ON VIX® INDEX Reported trading volume in VIX[...]

  • Market News | VIX | Futures | Jun 24, 2016, 7:00 AM

    Checking in on the VIX Overnight Action

    Checking in on the VIX Overnight Action

    Things are moving faster than I can type this morning, but here’s a quick update and some perspective on the overnight VIX action in response to Britain voting to exit the EU. Global stock futures are lower and we all know that results in higher volatility. The curve made a pretty dramatic shift with VIX rising over 40%. The table above only shows the monthly contracts, but it is worth noting that the VIX Weekly Futures contract expiring next Wednesday was up about 40% to 22.50 when I last[...]

  • Technical Analysis & Charts | VIX | Futures | Strategy | Jun 20, 2016, 1:24 PM

    Weekly Market Outlook - Will Support Hold?

    Weekly Market Outlook - Will Support Hold?

    The bulls did everything they could to get the rally back on track last week after the early breakdown. But, it just wasn't meant to be. Once the S&P 500 (SPX) (SPY) fell under the 50-day moving average line on Wednesday, the index -- despite trying -- just couldn't climb back above it. When all was said and done, the market lost 1.18% of its value last week. Still, stocks have a few rabbits they could pull out of a hat and move higher rather than losing any more ground. And, even if they[...]

  • Market News | VIX | Trader Talk | Futures | Strategy | Trade Ideas | Jun 17, 2016, 11:00 PM

    Weekend Review - VIX Futures and Options - 6/13 - 6/17

    Weekend Review - VIX Futures and Options - 6/13 - 6/17

    I’ve been around long enough to remember when the time in the markets between Memorial Day and Labor Day were quiet enough for traders to spend several afternoons at Wrigley field without feeling they were missing anything. This past week no one could have gotten away with playing hooky. As the stock market came under pressure, VIX climbed to the highest levels we have seen since February. Everyone is focused on Brexit as the ‘reason’ for the markets to be doing what they are doing.[...]

  • Market News | Trader Talk | Futures | Trade Ideas | Jun 16, 2016, 6:18 PM

    A Quick Look at Options versus Futures

    A Quick Look at Options versus Futures

    When short dated options were introduced on stocks and ETFs I made an assumption. We all know assumptions may be wrong, and that is the case here. I thought the major use of short dated options would be to take advantage of at the money time decay.   I was actually half wrong as we do see option short sellers come into the market place fairly frequently when expiration is approaching. The use I did not foresee involves using a short dated options as a substitute for a futures trade. A few[...]

  • Market News | Education | Futures | Jun 15, 2016, 3:28 PM

    SPXW Wednesday-Expiring Weekly Options Volume Grows to More Than 100,000 Per Day

    SPXW Wednesday-Expiring Weekly Options Volume Grows to More Than 100,000 Per Day

    On February 23, 2016, CBOE launched trading of weekly options on the S&P 500® Index which expire on Wednesdays. The average daily volume for SPXW Wednesday-Expiring Weekly Options grew from 74,114 in May, to 105,768 so far this month (through June 14). POTENTIAL BENEFITS – PRESS RELEASE CBOE’s February press release noted – "We are pleased to further expand our SPX product complex with the introduction of SPX Weeklys with Wednesday expirations," said CBOE Holdings[...]

  • Technical Analysis & Charts | VIX | Futures | Strategy | Jun 13, 2016, 11:08 AM

    Market Outlook - Market Looks Vulnerable Here

    Market Outlook - Market Looks Vulnerable Here

    The market was on pace to a decent gain last week.... until Friday. With that day's stumble, an intraweek gain of 1.0% turned into a 0.14% loss for the five-day span. Worse, the shape and location of last week's intraweek reversal hints that the tide may have finally turned bearish. Of course, in this market, such hints don't necessarily mean a lot. We'll dissect it all below as usual, after painting with some broad brush strokes of economic data. Economic Data As was noted a week ago, there[...]

  • Market News | Technical Analysis & Charts | Futures | Jun 13, 2016, 9:14 AM

    Volatility Kicking Up Again - Seen This Movie Before

    Volatility Kicking Up Again - Seen This Movie Before

    Friday's risk off day was certainly one we have not seen in a few weeks.  Bulls have had the advantage of late, and any spike in volatility was sold down.  Take a look at the VIX chart and you'll see the last two spikes prior to Friday (to 16 and then 17) were pulled down sharply by the end of the day.  Yet, some fear seemed to seep in as we headed to the weekend.  Was it warranted? I'm not so sure, but as we've seen when volatility has spiked previously, it may be time to be[...]

  • Market News | VIX | Trader Talk | Futures | Trade Ideas | Jun 12, 2016, 10:29 AM

    Weekend Review - VIX Futures and Options - 6/6 - 6/10

    Weekend Review - VIX Futures and Options - 6/6 - 6/10

    June VIX settlement is on the horizon, just two trading days and an overnight to Wednesday’s AM settlement. I mention that as a lead off in this space as I find the June futures at a premium to spot VIX kind of interesting considering VIX rose 26% last week. Admittedly, a 0.50 premium isn’t all that much, but any premium at all makes me think traders are still on edge after the S&P 500 price action last week and now going into two weeks with big known unknowns (FOMC this week[...]

  • VIX | Education | Futures | Jun 10, 2016, 4:43 PM

    Russell 2000 Index: Re-Pricing Risk

    Russell 2000 Index: Re-Pricing Risk

    Russell 2000 Index (RUT) Hits a 2016 High The bellwether benchmark for U.S. small-caps, the Russell 2000 Index tracks the performance of U.S. companies that derive most of their revenues domestically. Since the middle of May, as the Russell 2000 Index moved to its year’s high (1190.17) on June 8th.  In comparison to the S&P 500 the Russell 2000 slightly outperformed on a year-to-date basis (+2.33% vs. 2.27%) as of today. Please note the Russell 2000 Index ticker is (RTY) in the Bloomberg[...]

  • Technical Analysis & Charts | VIX | Futures | Jun 10, 2016, 2:00 PM

    The Weekly Options News Roundup – 6/10/2016

    The Weekly Options News Roundup – 6/10/2016

    The Weekly News Roundup is your weekly recap of CBOE features, options industry news and VIX Index and volatility-related articles from print, broadcast, online and social media outlets. CBOE Plans Its London Debut On Tuesday, CBOE announced that it will open its first international office in London next month, located in the Leadenhall building, aka “The Cheesegrater” building. This new initiative is one of many that allows CBOE to increase its global presence in the region and directly[...]

  • VIX | Education | Futures | Strategy | Jun 7, 2016, 10:35 AM

    BPVIX Index Hits Highest Level Since 2009, as Investors Manage Brexit Risk

    BPVIX Index Hits Highest Level Since 2009, as Investors Manage Brexit Risk

    On Monday the CBOE/CME FX British Pound Volatility Index (BPVIX) closed at 22.59, its highest daily close since March 2009, and the BPVIX Index has risen 161.8% so far this year (through June 6). A number of news articles have noted that the implied volatility for British Pound has risen during the past month because of concern about the upcoming June 23 Brexit referendum. Recent headlines for news stories included (1) “Pound Falls, Volatility Jumps as Polls Show Momentum for Brexit”[...]

  • Technical Analysis & Charts | VIX | Futures | Strategy | Jun 6, 2016, 12:01 PM

    BigTrends.com Weekly Market Outlook - Mini-Trading Range Developing

    BigTrends.com Weekly Market Outlook - Mini-Trading Range Developing

    All things considered, the market held up quite well last week in spite of plenty of reason not to. The S&P 500 (SPX) (SPY) ended the shortened trading week with a very slight gain, and also ended the week with the bulls testing the waters of higher highs after defining a near-term floor. And yet, its failure to actually make forward progress, even though it tried to do so, is concerning in itself. We'll take a closer look at the trading range that developed last week and what it will take[...]

  • Technical Analysis & Charts | VIX | Futures | May 31, 2016, 10:20 AM

    BigTrends.com Weekly Market Outlook - Key Remaining Hurdles

    BigTrends.com Weekly Market Outlook - Key Remaining Hurdles

    If anything, last week's economic and earnings news was on the weak side. That didn't stop the bulls from going on a rampage though. The S&P 500 (SPX) (SPY) gained a solid 2.5% last week, carrying the index to mew multi-week highs. The BigTrends TrendScore ended the week with a score of 93.5 (out of 100). That's about as bullish as it gets. Can it last? That remains to be seen. The argument that there's just not much valuation room for more upside still makes sense, and we don't have a key buy[...]

  • Technical Analysis & Charts | Futures | May 31, 2016, 9:50 AM

    Markets Are Getting That Overbought Look Again

    Markets Are Getting That Overbought Look Again

    After the best performance in a couple of months, markets are back to an overbought look on several indicators, and that may send diverging messages.  No doubt the price action was very bullish, rising three of five days coming off a very good finish the prior week and breaking significant support as well.  It appears that support at 2040 on the SPX 500 was to be tested and happened when the markets matched it with an oversold reading on May 19 - great timing for a low to be planted. [...]