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Almost $100 Million of VIX Options Traded Hands in a Split Second Today

Trader signal offers in the CBOE Volatility Index (VIX) pit at the Chicago Board Options Exchange.

Trader signal offers in the CBOE Volatility Index (VIX) pit at the Chicago Board Options Exchange.

Photographer: Scott Olson/Getty Images
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Almost $100 million worth of options pegged to volatility in U.S. equities changed hands in a split second today in Chicago, transactions that together would represent more than half a normal day’s volume.

About 40 different trades went off at 12:16:04 p.m., encompassing contracts that gain in value should the Chicago Board Options Exchange Volatility Index rise over the next few months, according to options data compiled by Bloomberg. The four biggest were each more than 130,000 contracts.