CBOE Volatility Index (.VIX) is up .09 to 21.46 and not far from session highs. VIX saw a spike at 10:00 after the latest home sales numbers fell well short of economist estimates. Sales declined by 11 percent to a record low annual rate of 309,000 in January, down from 348,000 in December and significantly worse than the 354,000 expected. Homebuilders (XHB) buckled on the news and trading has turned mixed. About 300 S&P 500 stocks are above water, 185 lower, and the SPX is up two points. Meanwhile, trading in the VIX pits is quiet. The top trade is a buyer of 1000 April 24 puts at $2.85. 8000 calls and 1700 puts traded on the volatility index so far.