Both equities and options volumes are down dramatically as we head into year end.
The S&P 500 volumes traded were down 26% Monday, 30% Tuesday and 38% Wednesday versus the prior 10 day average.
Options volumes have also been hit, but not as hard.
Total options traded and cleared Monday were down 16% from the prior 10 days. Volumes were down 18% Tuesday and 28% yesterday.
The CBOE's VIX, the most widely followed measure of risk in the markets is down from a post election high of 23% briefly broke 11% yesterday. That's a very dramatic drop, but with volumes traded and index trading ranges narrowing by the day, it seems unlikely we will see a dramatic change until post Christmas and into the final trading days of 2017 when people may seek a bit of protection for the beginning of 2017.
The DJIA has now posted 17 record closes since the election, but with more and more funds and active traders doing more shopping than trading it seems absent a push by HFTs we are not going to see 20K eclipsed today. The DJIA failure at 20,000 isn't a big surprise as the impetus or catalyst simply isn't there...yet.
Talent hits a target no one else can hit; Genius hits a target no one else can see
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