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Options Traders See Only Enough Fear for a Short-Term Rally

 

Options options market sentiment indicators flashed a healthy dose of fear this morning, which could portend a short-term rally on the heels of this morning's downdraft and snapback action. But the levels of anxiety were nowhere near the extremes seen in big market turning points in the past, so any move higher may be short-lived.

Volatility Index
Today % Change
33.82 +10.06
Source: ILX

"I think we're due for another January-type rally," said Rod Jamieson, vice president of options at First Union Securities, which was a "nice tradeable rally." Beyond a short-term advance, "I don't know," he said. ...

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