Active trading in VIX options as it spikes to 18
Active trading in VIX options as it spikes to 18. Spot VIX up 2.63 to 18.07 Tuesday after a 2.57 uptick Monday and biggest option trade in the product this morning: 32.6K May - Aug 37.5 call spreads for 25c, which likely rolls a volatility hedge to August from May. 17.5K May 22nd 18 - 28 call spreads trade 84c and is probably either a closing seller or a roll up ten strikes after the two-day jump in market volatility. Another notable spread is a four-way: 16.3K May 13 - 19 put spreads at $3.37 along with 16.3K Aug 14 - 19 put spreads for $3, possibly rolling a long vertical to Aug from May. 159K calls and 105K puts trade in the VIX pit in twenty minutes of of market action Tuesday. Two-thirds of the activity is in the May 22nd term and 25% in August.