Trader Looks For Floor In Volatility Fund

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The VXX volatility exchange-traded note is just above its lows, but the big trade of the day is looking for a bottom.

The iPath S&P 500 VIX Short-Term Futures ETN has just turned positive, now up 0.4 percent to $11.76. It was on pace for its lowest close ever, though it was just below that price in intraday trading on Tuesday. Shares have trended lower from above $59 at the start of October and are down 50 percent in just the last two months.

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