Vix calls lead puts 4:1 as the index drops 9%
Vix calls lead puts 4:1 as the index drops 9%. Spot VIX off 2 points to 20.48 and 40K Apr 17th 37.5 calls changed hands. Jan 18, Jan 25, and Dec 26th 30 calls are next most active. 210K calls and 46K puts trade through 13:00 ET, as some investors replace expiring Nov 21nd contracts with new positions in later terms. A total of 4.3M contracts are in the expiring 11/21 expiration, which is 41% of the total open interest in VIX options. Flow was also lopsided yesterday after 1 million calls/275K puts traded in the VIX pit Tuesday. Then VIX settlement Wednesday morning printed at 22.07 and the highest levels since February 2016. At that level, 1.6M calls and 1.5M puts expired out of the money Wednesday.