- The S&P 500 Index reached a new all-time high, up 3% today and more than 11% since Halloween morning.
- Broad markets rallied after news about the efficacy of the Pfizer vaccine trial and Biden’s U.S. presidential election win. Notably, high-tech momentum names that have been doing well in 2020 did not participate in today’s market rise.
- In the past two weeks, there has been a sizable move in the spread between S&P 500 Index realized volatility and implied volatility levels. Short dated implied volatility has fallen, while realized volatility levels have increased, indicating implied volatility has come in quicker than realized volatility has picked up.
- Looking ahead: continued COVID-19 vaccine news and other potential trial results.
To learn more visit Cboe’s website.