CBOE VIX Volatility Index trades within narrow window on Thursday.
The CBOE VIX (NYSEARCA:VXX) finished higher on Thursday, as markets shifted their focus back to monetary policy.
The Chicago Board Options Exchange (CBOE) Volatility Index rose 3.9% to 16.99 on a scale of 1-100 where 20 represents the historic average. The gauge hovered within a tepid trading range following a dramatic decline on Wednesday.
In stocks, the large-cap S&P 500 Index (NYSEARCA:SPY) declined 0.3% on Thursday.
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 0.6%.
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 0.3%.
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 1.1%.
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 1.7%.
The Final Word: Volatility took a back seat on Wednesday, as share prices staged a massive recovery. It remains to be seen whether upside momentum can be maintained ahead of the holidays, which are normally a bullish period for stocks.