CBOE VIX Volatility Index inches lower on Thursday.
The CBOE VIX (NYSEARCA:VXX) declined slightly on Thursday, as stocks struggled to extend their mid-week rally following the release of mixed economic data.
The Chicago Board Options Exchange (CBOE) Volatility Index, commonly known as the “fear gauge,” reached a session high of 13.84. It would later backtrack to settle at 13.27, having declined 1%. VIX remains on a sharp downward spiral, a trend that is reaffirmed by weak price action and negative momentum.
In stocks, the large-cap S&P 500 Index (NYSEARCA:SPY) edged down 0.1%.
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 0.9%.
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 2.4%.
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 2.8%.
The Final Word: Volatility is showing little signs of returning in the first quarter. It remains to be seen whether the same optimism can extend to Q2 as investors prepare for a volatile earnings quarter.