March 9, 2020 / 5:30 PM / a month ago

CORRECTED - -EXCLUSIVE-Trading in VIX options froze after open - exchange official

(Corrects headline to say trading of VIX options not the VIX index froze)

March 9 (Reuters) - Trading in options on Wall Street’s fear gauge was impossible in the first minutes of Monday’s session due to a complete absence of prices from the market makers on whom trading depends, a representative of index operator CBOE Global Markets Inc said.

CBOE Senior Trade Desk Specialist Ryan Stone told Reuters that VIX options were tradable at 9:51 am ET (1351 GMT) but a lack of liquidity led to a lag of about seven minutes until the first trade, around 9:58 am ET.

The VIX surged after trading resumed to its highest level since December 2008 after trading in the S&P 500 was halted for 15 minutes following its open as panic selling due to the spreading coronavirus triggered circuit breakers. (Reporting by Aaron Saldanha)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below