CBOE VIX declined slightly on Tuesday but maintained its long-term average.
The CBOE VIX (NYSEARCA:VXX) declined slightly on Tuesday, as share prices staged a modest recovery following yesterday’s rout.
The Chicago Board Options Exchange (CBOE) Volatility Index traded lower for most of the session, eventually bottoming at 19.11. It would later settle at 20.28, having lost nearly 1% compared with the previous close. Volatility spiked on Monday as the major stock indices fell sharply.
In terms of stocks, the S&P 500 Index (NYSEARCA:SPY) fell 0.2% on Tuesday.
Major VIX ETFs:
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 0.9%.
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 0.5%.
ProShares Ultra Short Term VIX Futures: (NYSEARCA: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 advanced 1.4%.
VelocityShares Daily 2x VIX Short Term Futures ETN (NYSEARCA:TVIX) TVIX is a leveraged VIX ETN designed to deliver 2X the returns of the daily S&P 500 Short Term Futures Index. TVIX advanced 1.7%.
The Final Word: Volatility is showing little signs of abating as trade negotiations, economic uncertainty and plunging commodity prices continue to weigh.