The Weekend Review is fairly light as the guys from Options Action took a well-deserved break for the long weekend. However, The Striking Price column in Barron’s definitely caught my eye as Steven Sears devoted a lot of space to the new CBOE Short Term Volatility Index (VXST). CBOE introduced this nine day version volatility index based on SPX pricing in early October and went real time with quotes a few days ago. The next step is for futures and options to be listed in 2014. Needless to say, when there is more to reveal about trading VXST I will be all over it in this space. The chart below shows daily price action in VXST and VIX so far for 2013. As you can see it moves around more than VIX and has higher high and lower lows depending on the market’s short term outlook for VIX.