CBOE VIX Volatility Index little changed as S&P 500 reaches all-time high.
The CBOE VIX (NYSEARCA:VXX) was little changed Monday, as surging oil prices lifted equities to new record highs.
The Chicago Board Options Exchange (CBOE) Volatility Index finished up 0.2% at 10.42. The fear gauge traded within a narrow band just one week after hitting 24-year lows. Measures of momentum and relative strength show little upside for the VIX.
The large-cap S&P 500 Index (NYSEARCA:SPY) rose 0.4% to finish at record levels on Monday.
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 1.8%.
VelocityShares Daily Inverse VIX Short Term Futures ETN: (NYSEARCA:XIV) Designed to track the inverse daily performance of the S&P 500 VIX Short Term Futures Index. XIV advanced 2.1%.
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 4.4%.
VelocityShares Daily Short Term VIX 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 4.2%.
The Final Word: Volatility is down more than 25% this year as US stocks continue to reach for new highs. All but one of the S&P 500’s main indexes finished higher on Monday.