CBOE VIX Volatility Index creeps higher in the final hour.
After trading within a narrow range for most of the day, the CBOE VIX (NYSEARCA:VXX) rose on Thursday as trade-war risks rattled stocks.
The Chicago Board Options Exchange (CBOE) Volatility Index climbed 3.9% to 11.27. The so-called “fear index” bottomed at 10.17, which would have marked the lowest settlement since January.
In stocks, the large-cap S&P 500 Index (NYSEARCA:SPY) traded down 0.1% 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 advanced 1.5%.
ProShares Short VIX Short-Term Futures (SVXY) to track the inverse daily performance of the S&P 500 VIX Short Term Futures Index. SVXY declined 0.7%.
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 2.1%.
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 advanced 3.3%.
The Final Word: Volatility came within a few points of single digits – levels not seen since the beginning of the year. Vol is expected to drift sideways during the tail end of earnings season.