​Daily Wrap –VIX Spreads Seen; China Opens Euro Single Stock Plays

China’s again in the spotlight this week as its domestic equity market again sees massive declines. The Shanghai Composite dropped about 8.5% Monday, its largest one-day loss since 2007. The Hang Seng also finished about 3%. The effects were seen in the S&P, which dropped about .5%, while the VIX was the target of a number of spread trades as the index spiked to about 15.6. In Europe, increased concerns surrounding future consumption in China have opened up volatility trading opportunities in European single stocks and sectors. Miners, autos and luxury goods companies in Europe are finding particular focus from buysiders.