Author Archives: Russell Rhoads, CFA

Last Week in Emerging Market Volatility – 8/11/2013

The two underlying emerging markets that CBOE offers volatility trading products on were mixed last week.   The iShares MSCI Emerging Markets (EEM – 39.36) ETF was down almost 1% while the iShares MSCI Brazil Capped (EWZ – 44.61) ETF climbed about 1.5% for the week.  Keep in mind emerging markets have been terrible laggards compared […]

Last Week in VIX Options and Exchange Traded Products – 8/11/2013

After spending a couple of days closing with an 11 handle VIX did what it normally does and it bounced.  Weakness in the equity market toward the end of the week aided in the bounce, but when VIX gets into the tweens (defined by Wikipedia as a person between the age 10 and 12) it […]

Top 5 Volume Day for VIX Option Trading

Despite being in the midst of the traditionally slow trading period for the equity markets that seems to annually come between the end of second quarter earnings and Labor Day VIX options put up a pretty impressive volume day.  1,351,177 VIX options changed hands at the CBOE today for the fourth busiest day on record.  […]

Last Week in VIX and VXN – August 2, 2013

VIX closed under 12.00 for the first time since mid-March.  When VIX closed with an 11 handle before the S&P 500 was in the mid 1500’s.  Now with the S&P 500 a few points over 1700, VIX is approaching a new post 2008 low.  I noted a couple of headlines asking, “How low can VIX […]

Last Week in Emerging Market Volatility – August 2, 2013

Emerging markets appear like they will never get out of the starting gate in 2013 let alone catch up with the performance of the S&P 500.  As of Friday the S&P 500 is up just a hair under 20% for the year while the iShares MSCI Emerging Markets ETF (EEM – 39.71) has lost over […]

Last Week in Gold and Oil Volatility – August 2, 2013

The price of oil continues to hover around high levels with the September futures contact trading around 107.00 on Friday.  The United States Oil Exchange Traded Fund (USO – 37.94) rose about 2% on the week and the orderly move in the price of oil put pressure on OVX which dropped just over 3%.  The […]

Last Week in VIX Options and Exchange Traded Products – August 2, 2013

VIX closed below 12.00 for the first time in a while and this took the front month futures and the long VIX related exchange traded notes to new lows as well.  VXX, VXZ, VIXY, and VIIX all lost between 7% and 9% on the week.  The leveraged long VIX ETNs took it on the chin […]

The Week in VIX and VXN – July 26

For the week that ended last Friday (7/16) VIX was down and VXN was up.  This past week saw a reversal of this as VXN came back down close to in line with VIX after running up to a premium of over just a point.  This dichotomy of performance is the result of the S&P […]

The Week in Gold and Oil Volatility – July 26

If you blinked you missed it but the SPDR Gold Shares ETF (GLD – 128.78) visited the 130’s for a brief period of time on Tuesday this past week.  This was the first time a GLD price started with a 1 and 3 since the middle of June.  The 130 price level was providing some […]

The Week in Emerging Market Volatility – July 26

Emerging market volatility inched downwards as the iShares MSCI Emerging Markets ETF (EEM – 39.83) rose 1.4% and the iShares MSCI Brazil Capped ETF (EWZ – 44.66) was up a little over 2%.  Despite putting up solid numbers this week EEM is down 12% and EWZ is down just over 20% on the year.  VXEEM […]

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