This Week in VIX and VXN

September VIX settlement was 14.03 and VXN September futures settled at 15.11. The week was fairly calm and markets were mixed. The Nasdaq-100 was up slightly and the S&P 500 dropped less than 0.5% on the week. The difference between the two index performances may be attributed to Apple (AAPL – 700.09) which comprises 20% of the Nasdaq-100. AAPL was up over 1% on the week and helped push the NDX to a positive weekly outcome.

With relatively calm markets both VIX and VXN lost value on the week and the futures followed suit moving down in line. Both VIX and VXN markets had a parallel shift on the curve. VIX stayed about 13.51, which was the previous week’s low. During different periods what is considered high and low for VIX has varied. We may be in some sort of transition period and our perspective may be changing. Right now the 13 handle is trying to establish the low end and time will tell if that works itself out.

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