CBOE VIX Volatility Index hovers within a half-point range on Wednesday.
The CBOE VIX (VXX) drifted between slight gains and losses on Wednesday, as calm permeated Wall Street amid ongoing U.S.-China trade negotiations.
The Chicago Board Options Exchange (CBOE) Volatility Index, commonly known as the VIX, traded between 12.81 and 13.39 on a scale of 1-100 where 20 represents the historic average. The so-called “fear index” settled down 1.8% at 12.87.
In stocks, the large-cap S&P 500 Index (SPY) edged up 0.1% on Wednesday.
iPath S&P 500 VIX Short Term Futures ETN: (NYSEARCA:VXX) Designed to offer exposure to the S&P 500 VIX Short Term Futures Index Total Return. The Index uses CBOE Volatility Index futures by way of a long position in the first and second month VIX Futures contracts. VXX declined 0.4%.
ProShares Short VIX Short-Term Futures (SVXY) to track the inverse daily performance of the S&P 500 VIX Short Term Futures Index. SVXY advanced 0.2%.
ProShares Ultra Short Term VIX Futures: (UVXY) UVXY is designed to deliver 2X (leveraged) returns of the day’s moves in the S&P 500 VIX Short Term Futures Index. It tacks the two front months of the futures contract. UVXY declined 0.4%.
VelocityShares Daily 2x VIX Short Term Futures ETN (TVIX) TVIX is a leveraged VIX ETN designed to deliver 2X the returns of the daily S&P 500 Short Term Futures Index. TVIX declined 0.3%.
The Final Word: Volatility is unlikely to return so long as stocks continue to hover near all-time highs. Equities remain elevated following a better than expected earnings season and three interest rate cuts by the Federal Reserve.