Vol411 for Thursday, January 28, 2021

Host: Kevin Davitt, Senior Instructor, Cboe Options Institute

· Yesterday, the VIX Index measured its largest single-day move in two years, climbing just above 37. Meanwhile, the S&P 500 Index declined by about 2.6%, the first 2%+ sell off since just before the November 2020 U.S. presidential election.

· Also yesterday, the VIX futures curve was inverted with February VIX futures trading 1.25 over the March VIX futures. That switched today, with February VIX futures trading .45 under March VIX futures.

· More than 59 million options contracts were traded yesterday, setting another options volume record.

· More than 1.3 million VIX options were traded yesterday and more than 1.1 million have been traded today.

· VIX options calls are outpacing puts by a 1.2:1 margin and standard cycle March VIX options are trading actively across strikes.

To learn more visit Cboe’s website.

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