Small caps had a nice week with the Russell 2000 (RUT) rising 1.67% while the Russell 1000 (RUI) was up 1.01%.  The large cap lead narrowed a bit, but the RUT still lags RUI by just over 5% year to date. 

RUT RUI 622017

Continued low levels for VIX dominate the CBOE Russell 2000 (RVX) to VIX ratio which remains at historically high levels.  VIX under 10.00 and RVX over 15.00 results in a ratio in the mid- 50% range to end the week.  

VIX RVX 622017

Mid-day Wednesday, with RUT around 1360 a bullish trade came into the post that expired Friday on the close.  There was a seller of the RUT Jun 2nd 1355 Puts at 2.76 who purchased the 1350 Puts for 1.87 and a net credit of 0.89.  The Russell 2000 basically did nothing but rise after this trade was put on and there was no emotional capital associated with booking the full profit as long as the trade was held to the end of the week.  
RUT PO 622017