Report published August 13, 2026
Goldman Sachs Equity Index Volatility Update: August 13, 2026
Source and citation context
- Issuer
- Goldman Sachs
- Report date
- August 13, 2026
- Analysis as of
- August 13, 2026
Authors / editors: Jialing Liang (Analyst)
Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
US equities hit fresh all-time highs on unchanged MoM PPI inflation data, accompanied by a 'spot up, vol up' market reaction. Goldman Sachs trading desk recommends buying SPX and QQQ puts as downside protection given flat volatility skew.
Key Takeaways
- 1.US equities hit new record highs driven by moderating PPI inflation data, alongside a parallel 'spot up, vol up' volatility regime.
- 2.The trading desk sees SPX and QQQ puts as attractive tactical downside positioning to play for a pullback given relatively flat volatility skew.
- 3.Option flow was quiet but tilted toward skew buyers, notably marked by a 35k paper purchase of VIX Nov 25 call options.
Table of Contents
- Summary
- More in Macro
Report data
SPX Volatility and Skew Surface Term Structure — as of August 13, 2026.
| Metric | Estimate | Context |
|---|---|---|
| S&P 500 Index Level | 7798.99 points | Index spot price at daily close. |
| NASDAQ 100 Index Level | 30084.50 points | Index spot price at daily close. |
| Cboe Volatility Index Level | 14.63 points | VIX index level at daily close. |
| Producer Price Index MoM | 0.0% | MoM PPI print reported on 13 Aug 2026. |
| VIX Call Option Trade Size | 35000 contracts | VIX Nov 25 call options bought for 1.925 vs 20.15 reference. |
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Authors / Editors
Reported Data Context
- S&P 500 Index Level: 7798.99 points (2026-08-13) · Source: Goldman Sachs FICC and Equities Division
- NASDAQ 100 Index Level: 30084.50 points (2026-08-13) · Source: Goldman Sachs FICC and Equities Division
- Cboe Volatility Index Level: 14.63 points (2026-08-13) · Source: Goldman Sachs FICC and Equities Division
- Producer Price Index MoM: 0.0 % (2026-07)
- VIX Call Option Trade Size: 35000 contracts (2026-08-13) · Source: Goldman Sachs FICC and Equities Division
Securities
Themes
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