S&P 500 Volatility Hits Highest Over Nasdaq 100 Since Pandemic
- VIX trading higher than VXN is a crisis-type dynamic: Citi
- Opportunistic traders seen selling puts amid higher volatility
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In a day full of rare moves, S&P 500 options volatility spiked higher than the Nasdaq 100 for the first time since the Covid pandemic.
The Cboe Volatility Index, or VIX, jumped to 38.57 Monday, 1.1 times the level of the VXN, a similar measure for the Nasdaq 100. The last time it happened was in 2020, and to Citigroup’s Stuart Kaiser it’s a crisis-type dynamic.