· The S&P 500 Index continues to rebound after Tuesday’s drop and is currently at 34.40. The market dipped after President Trump shared a tweet about his intent to delay stimulus talks until after the election.
· Initial jobless claims were announced this morning, coming in at 840,000. This is still elevated but falling for the second week in a row. Continuing claims of Americans that are on state benefit payrolls fell to 11 million.
· Currently, the VIX Index is measuring at 27.26. The long-term average of the VIX Index is 19, while the average close through 2020 is around 30.
· The VIX futures curve is in a steep front month contango. October futures are trading at 29.08 and the November futures are trading at 31.26.
· The biggest trade in VIX options so far today was a November 27.25 VIX options 1x1.5 put spread that traded for a $0.20 credit.
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