The CBOE VIX Volatility Index edged higher on Thursday.
The CBOE VIX (VXX) traded in positive territory on Thursday, as stocks underwent a brisk selloff ahead of high-profile corporate earnings.
The Chicago Board Options Exchange Volatility Index touched a session high of 28.29 on a scale of 1-100 where 20 represents the historic average. It would eventually settle up 5.6% at 25.44.
In stocks, the large-cap S&P 500 Index (SPY) fell 0.4% on Thursday.
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 advanced 2.3%.
ProShares Short VIX Short-Term Futures (SVXY) to track the inverse daily performance of the S&P 500 VIX Short Term Futures Index. SVXY declined 1.1%.
ProShares Ultra Short Term VIX Futures: (UVXY) UVXY is designed to deliver 1.5X (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 advanced 3.3%.
The Final Word: Investors continue to eye the global spread of COVID-19. As of Thursday, more than 17.1 million people had been infected with the novel disease, including 4.5 million in the United States.