Both the Russell 1000 (RUI) and Russell 2000 (RUT) were up about 0.80% for the week.  For the year, RUI still holds a performance lead of about 1.3%. 


Just for fun and because it was a year ago this weekend that the US equity markets put in the 2016 lows I decided to see where things stood at that time.  As of February 11th of last year RUT was down 16.0% and RUI was down only 11.3%.  Man what a difference a year makes. 


In the volatility space, the Russell 2000 Volatility Index (RVX) continues to climb to levels relative to VIX that have not been seen in years.  To give extra perspective I include the last six months of 2016 in the chart below. 

RVX VIX Premium

With a little over an hour to go in the trading week and RUT near 1388 someone came in with a bearish trade looking out over the next two weeks.  Specifically they purchased 1000 of the RUT Mar 3rd 1385 Puts for 19.00 and then sold 1000 RUT Mar 3rd 1370 Puts for 13.45 which comes to a net cost of 5.55.  The payout on the close March 3rd appears below.


Note a three week drop of 1.3% is all that is needed for this trade to return that maximum profit of 9.45.