India VIX Index Drops Most in Five Months as Bullish Bets Rise
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The benchmark gauge of Indian option prices fell by the most in five months as traders increased bullish bets on the CNX Nifty Index after Prime Minister Narendra Modi’s party won in two state elections.
The India VIX Index lost 13 percent to 14.2 at close in Mumbai, the steepest drop since May 19. Traders held eight bearish contracts on the index for every 10 bullish wagers as of Oct. 17, near the lowest put-to-call open interest ratio in more than three weeks, data compiled by Bloomberg show.