Weekly VIX Flow Report: Calls Drive Friday Spike

​CBOE’s Volatility Index trading spiked today, after a Veterans Day lull. More than 1 million VIX options traded, weighted toward calls. The largest order coming when an investor, for 56c, sold November calls targeting a strike of 20 and bought December calls targeting a strike of 23. “It looks like they are trying to get December exposure and willing to give up November exposure,” said a VIX market maker, noting it might be a play around the Federal Open Market Committee meeting on Dec. 15 and 16.