CBOE VIX Volatility Index backtracks on Thursday.
The CBOE VIX (VXX) was back on the defensive Thursday, sliding to two-week lows as stocks extended their recovery.
The Chicago Board Options Exchange (CBOE) Volatility Index, commonly known as the VIX, reached an intraday low of 14.70 on a scale of 1-100 were 20 represents the historic average. The so-called “fear index” closed down 1.8% at 14.88.
In stocks, the large-cap S&P 500 Index (SPY) climbed 0.3% 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 declined 0.6%.
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 0.4%.
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 declined 1.6%.
VelocityShares Daily 2x VIX Short Term Futures ETN (TVIX) TVIX is a leveraged VIX ETN that tracks an index of futures contracts on the VIX Short-Term Futures Index. It provides 200% leverage on the volatility moves. TVIX declined 2%.
The Final Word: Markets seem to be downplaying the coronavirus epidemic. The novel virus has spread to 30 countries and infected more than 28,000 people.