Trading in options on Wall Street's fear gauge was impossible in the...
FILE PHOTO: People walk by the Chicago Board Options Exchange Global Markets headquarters building in Chicago, Illinois, U.S., September 19, 2018. REUTERS/Michael Hirtzer
When activity in options resumed, the VIX surged to its highest level since December 2008. The volatility spike occurred as global stock markets were melting down on fears about the spreading coronavirus and crashing oil prices. “What caused the delay in opening SPX & VIX - with these being products - is we had to manually open them,” Stone said.
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