Market jumped on better than expected job numbers. VIX and VIX futures fell. Even the long term VIX futures fell as the risk of a double dip recession diminished somewhat.
If you are a net option seller risk management is extremely important in days like this.
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Indian markets snapped a three-day winning streak and closed on negative note yesterday as weak global markets with another delay in sealing a crucial bailout for Greece weighed on markets sentiment. Worries over a bailout for Greece prevailed after the eurozone leaders reportedly postponed the decision on granting Greece a second bailout despite repeated assurances from Greek leaders on budget reforms. However, the markets pared some of its initial losses, which enabled the BSE Sensex and the NSE Nifty to close above the key levels of 18,000 and 5,500, respectively. The downward movement was led by selling pressure in metal, oil & gas, consumer durables and FMCG stocks while buying activities in real estate, power, capital goods and IT stocks help the markets to pare some of its initial losses.
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