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S&P 500 Up 1.06%, VIX Falls to 14.3: Sep 3 Recap

The S&P 500 closed up 1.06% against a 0.72% priced move and the VIX still fell to 14.3. A one minute recap of the day in volatility.

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On this page
  1. In writing
  2. The close
  3. A year of S&P premium
  4. What moved it
  5. What comes next
  6. Up next

What this one covers

  • The S&P 500 closed up 1.06% on Thursday and every major index finished higher
  • Options had priced a 0.72% move, so the index did about one and a half times what was paid for
  • The VIX fell to 14.3 on an up day, which means the market is paying less for protection into the jobs number
  • Financials and Tesla led, and the Nvidia Hugging Face deal lifted the AI trade
  • Friday brings the August jobs report at 8:30, the last big number before the Fed meets

The same thing, in writing

The close

Today in Vol for September 3. The S&P 500 closed up 1.06% on Thursday and every major index finished higher. Options had priced in a 0.72% move for the day. The index did about one and a half times that, and the VIX still fell to 14.3.

A year of S&P premium

The Terminal shows a year of S&P 500 premium day by day. Green bars are days when options overpriced the move that followed. Red bars are days when they underpriced it. Thursday was a red day, because the market moved more than options had paid for.

What moved it

Interest rates fell on dovish Fed comments ahead of the jobs report. Financials and Tesla led the gains, and the Nvidia deal with Hugging Face lifted the AI trade.

What comes next

Friday brings the August jobs report at 8:30, the last big number before the Fed meets. An up day with a falling VIX means the market is paying less for protection into a jobs number. That is today in Vol.

Topics

  • today in vol
  • s&p 500
  • vix
  • expected move
  • jobs report
  • market recap

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