8 Minute Read

Tackle Today: The VIX Pops

August 23, 2022

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«Premium Sellers Rejoice.»


Monday’s market meltdown had a silver lining. The CBOE Volatility Index spiked. Though the VIX retreated into the close, it still closed up 16% on the session, leaping from 20.60 to 23.8. It was the largest single session spike since mid-June and signaled fear’s return.

While those enjoying the relative calm were more than annoyed, premium sellers rejoiced. Higher VIX readings mean bigger paydays for options sellers. Traders deploying covered calls, naked puts, credit spreads, and the like were starting to see premiums dry up. The lower paydays resulted from a calmer market and less anxiety among investors.

With yesterday’s stock swoon, options premiums swelled, and put selling suddenly became interesting again. Sure, the market may continue lower, bringing even better put selling opportunities, but it may not!

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Chart of the Day: CBOE Volatility Index ($VIX)

Chart of the Day: CBOE Volatility Index ($VIX)

Return of the VIX spike!

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