CBOE VIX Volatility Index remains on the lower end of the scale as stocks hold firm.
The CBOE VIX (NYSEARCA:VXX) traded within a narrow range on Tuesday, as stocks resumed their upward mobility ahead of high-profile earnings later in the week.
The Chicago Board Options Exchange (CBOE) Volatility Index touched a session low of 11.93, which would have marked the lowest settlement in over a month. The so-called “fear index” settled at 12.71, where it was little changed compared with Monday.
In equities, the large-cap S&P 500 Index (NYSEARCA:SPY) traded 0.4% higher 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 declined 1.9%.
ProShares Short VIX Short-Term Futures (SVXY) to track the inverse daily performance of the S&P 500 VIX Short Term Futures Index. SVXY advanced 1%.
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 declined 2.7%.
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 declined 3 6%.
The Final Word: Wall Street is experiencing a renewed sense of calm ahead of earnings season with trade risks receding into the background. It remains to be seen whether levelheadedness will prevail amid escalating trade tensions.