Scratching your head about a lower VIX (VXX -2.4%) even with stocks down? Don't forget the roll,...

|By:, SA News Editor

Scratching your head about a lower VIX (VXX -2.4%) even with stocks down? Don't forget the roll, writes Bill Luby. Today is the day SPX options contracts roll forward one month. A particularly large difference between near-term and further out term volatilities causes the VIX to be substantially depressed, though this should diminsh over time.