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Group One's Jamie Tyrrell says the action is extremely heavy as premium gets sucked out of May contracts before tomorrow morning's settlement and upside buyers move to June contracts.
With VIX settlement approaching on Wednesday, Group One's Jamie Tyrrell says prices are dropping quickly in May options as the volatility index pulls back today.
With less than four days before the VIX settlement, Group One's Jamie Tyrrell says traders are not pricing in big moves in volatility as they were earlier in the week.
Group One's Jamie Tyrrell says the action is an exact replica of yesterday's trading, with VIX premiums running up with the market's early selloff and then falling as stocks recover.
Chris McKhann hosts this financial web cast.
Group One's Jamie Tyrrell explains the trading in the VIX pits today, where one large put spread turned up activity when the S&P 500 seemed to find support.
Chris McKhann breaks down a large trade that appears to be rolling a short-put position in the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund.
Chris McKhann hosts this financial web cast.