CBOE VIX Volatility Index edged lower on Friday but remained above historic mean.
The CBOE VIX (VXX) edged lower on Friday, but it continued to trade well above the historic mean amid the coronavirus outbreka.
The Chicago Board Options Exchange (CBOE) Volatility Index, commonly known as the VIX, traded between 47.87 and 52.29 on a scale of 1-100 where 20 represents the historic average. The so-called “investor fear index” would eventually settle down 4.8% at 48.45.
In stocks, the large-cap S&P 500 Index (SPY) declined 1.6% on Friday.
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 4.2%.
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 2.2%.
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 6.1%.
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 9%.
The Final Word: Coronavirus is sweeping the United States at an alarming pace. The number of infected will likely cross above 300,000 this weekend.