Author Archives: Russell Rhoads, CFA

Last Week in Emerging Market Volatility – August 18, 2013

The CBOE Brazil ETF Volatility Index (VXEWZ – 30.04) moved over 30.00 on Friday based on Brazilian stocks coming under pressure in line with US equities.  Also, the iShares MSCI Brazil Capped ETF (EWZ – 43.14) was down over 3% for numerous reasons.   There are continued concerns specific to the Brazilian market as well.  Inflation […]

Last Week in Gold and Oil Volatility – August 18, 2013

Despite being informed that several high profile gold bulls reduced or eliminated their positions recently, the price of gold managed to break through some technical resistance this past week.  The SPDR Gold Shares ETF (GLD – 132.58) managed to climb over the 130 level.  The impact on implied volatility was interesting as GVZ was up […]

Last Week in VIX Options and ETPs – August 18, 2013

The S&P 500 lost just over 2% on the week and the result was a higher VIX.  The first interesting tidbit about VIX was on Friday it was lower despite a lower S&P 500.  The Friday effect, along with lack of follow through from Thursday’s big selloff attributed to VIX and the S&P 500 being […]

Last Week in VIX and VXN – 8/11/2013

The S&P 500 was down just over 1% on the week and VIX bounced back up from threatening to visit single digits.  VIX went out last week at 11.98 and tore through the 12’s to land solidly in the mid-13 range.   The NASDAQ-100 (NDX) was down on the week as well losing a little less […]

Last Week in Gold and Oil Volatility – 8/11/2013

The SPDR Gold Shares (GLD – 126.86) ETF rose 0.50 on the week after giving a head fake that lower levels were on the horizon.  There are gold bulls and gold bears – all of which are equally vocal these days – and neither can really claim victory this past week.  The small weekly change […]

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 […]

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