It's called controlled selling. The futures were propped up, so the funds could unload because next week is going to be ugly.
Bt the way. If you take a look at PUT/CALL ratios the amount of optimism out there is just estonishing... this shouldn't end up nicely.
Also, on friday we have closed near the day's highs BUT VIX has also closed at the day's highs... If anyone would care to explain this to me I would be sooooooooo grateful... Thanks
Investors buying puts as cheap insurance over the weekend. If they're long stock and something major happens over the weekend, their profits are covered. If the market rallies again Monday and Tuesday, VIX will drop significantly compared to Thursday and Friday (dropped 0.46 in 2 days I think?).