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On Monday, the VIX volatility index slid to its lowest level since November. That's a big change from early March when it stood at a five-year high. Is this a sign of complacency or of greater safety in the market?
I definitely think there’s some complacency, replies Randy Frederick, Director Of Derivatives At Charles Schwab. I’m cautious because although there’s a lot of activity on the call side I think a lot of those options are going to expire worthless.
Why?
Retail traders look at the volume of calls trading and think it means there’s bullish sentiment in the market but it’s really a lot of institutional investors using those calls as a hedge.
How do you trade it?
Currently, the Vix is in a range between 18-22, he explains There’s support at 18 and resistance at 22. So when the Vix is down near 18 it’s a good time to look at puts.
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