CBOE VIX Volatility Index little changed as markets fight for direction.
The CBOE VIX (NYSEARCA:VXX) was relatively unchanged on Monday, as buyers and sellers fought for control of the equities market.
The Chicago Board Options Exchange (CBOE) Volatility Index closed at 11.34, on a scale of 1-100 where readings below 20 normally correspond to cheerful conditions on Wall Street. Volatility declined last week following the Federal Reserve’s decision to raise interest rates.
The outlook on volatility remains weak, as stock markets continue to hover near record valuations.
The large-cap S&P 500 Index (NYSEARCA:SPY) closed down 0.2% on Monday.
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 was unchanged.
VelocityShares Daily Inverse VIX Short Term Futures ETN: (NYSEARCA:XIV) Designed to track the inverse daily performance of the S&P 500 VIX Short Term Futures Index. XIV declined 0.2%.
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 0.2%.
VelocityShares Daily Short Term VIX 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 0.2%.
The Final Word: Complacent investors are still looking for justification to drive equity prices higher. So far this year, much of the trading catalyst has come from President Donald Trump, who has promised to stimulate economic growth.