VIX heading for biggest 6-day drop since ‘08

By Reuters
Posted March 24 at 1:45 p.m.

The benchmark measure of U.S. stock options headed for its biggest six-day drop since November 2008 as concern that this month’s Japanese earthquake will curb the global economy eased.

The Chicago Board Options Exchange Volatility Index, or VIX, fell 5.3 percent to 18.15 at 2:15 p.m. New York time, extending its retreat since March 16 to 38 percent. That’s the biggest decline over the same number of days in 28 months.

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CBOE Holdings

CBOE Holdings Inc. claims it is the largest option exchange in the United States. The company, in addition to its core options trading business, provides marketplaces for trading futures contracts...

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