VIX Drops to Lowest Since 2007 as Intel, Yahoo Beat Estimates
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The benchmark index for U.S. stock options slumped to its lowest intraday level since July 2007 as shares rallied on better-than-estimated quarterly reports from companies including Intel Corp. and Yahoo! Inc.
The VIX, as the Chicago Board Options Exchange Volatility Index is known, decreased 4.8 percent to 15.07 at 4:15 p.m. in New York, after falling as low as 14.30. The index measures the cost of using options as insurance against declines in the Standard & Poor’s 500 Index, which added 1.4 percent.