Implied Volatility Higher Ahead of Jobs Data (VXX)
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Implied Volatility on the S&P 500 moved higher today for the first time in four trading sessions. The VIX index tacked on 5 percent intraday on Thursday and the VIX ETF (NYSE: VXX) moved higher by approximately half that amount.
Despite the increased implied volatility on the S&P 500 today, the VIX remains below the key level of 20, currently 17.51. The VIX has been trending lower since peaking in June. Fewer negative headlines out of Europe helped stabilize markets recently and the VIX has responded by tracking lower.
Today's bump in implied volatility comes ahead of tomorrow's very important jobs report in the U.S., which will either roil markets or create additional stability. Investors are anticipating a gain of at least 90k jobs.
Despite the increased implied volatility on the S&P 500 today, the VIX remains below the key level of 20, currently 17.51. The VIX has been trending lower since peaking in June. Fewer negative headlines out of Europe helped stabilize markets recently and the VIX has responded by tracking lower.
Today's bump in implied volatility comes ahead of tomorrow's very important jobs report in the U.S., which will either roil markets or create additional stability. Investors are anticipating a gain of at least 90k jobs.
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