CBOE VIX Volatility Index bottomed in the mid-30s on Tuesday.
The CBOE VIX (VXX) backtracked on Tuesday, and at one point reached its lowest level in a month, as stocks rallied on stimulus hopes.
The Chicago Board Options Exchange (CBOE) Volatility Index, commonly known as the VIX, reached an intraday low of 36.24 on a scale of 1-100 where 20 represents the historic average. The so-called “fear index” would eventually settle down 1.5% at 60.66.
In stocks, the large-cap S&P 500 Index (SPY) rallied 9.3% on Tuesday.
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 8.5%.
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 3.6%.
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 13.4%.
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 18%.
The Final Word: Coronavirus has now infected more than 300,000 people. America has become a hotbed for infections with nearly 50,000 cases reported so far.