From CNBC · Tyler Bailey · · 1m
VIX surges past 22 as traders bet on bigger market fall
The volatility index hits a four-month high on AI stock losses. Traders are buying November options betting it will climb even further.
In brief
The volatility index hits a four-month high on AI stock losses. Traders are buying November options betting it will climb even further. The VIX jumped above twenty two for the first time in four months as AI stocks fell, and traders are betting it will rise further by mid-November. Originally reported by CNBC.
Fear gauge breaks four month high
The Cboe Volatility Index, or VIX, jumped above twenty two for the first time in four months as a sell off in AI related stocks hit the market hard.
Traders bet VIX will climb to twenty three
One trader bought nine thousand two hundred November eighteen twenty strike calls for one point seven million dollars and twelve thousand five hundred November eighteen twenty three strike calls for one point one million dollars.
Tech earnings test looms next week
The market faces a key test next week when Tesla, SpaceX and Meta report earnings. Nasdaq shed two percent on Friday, its worst day since June fifth.
What to remember
The VIX jumped above twenty two for the first time in four months as AI stocks fell, and traders are betting it will rise further by mid-November.
