CBOE VIX Volatility Index reaches its highest level since mid-October.
The CBOE VIX broke out on Monday, reaching its highest level since mid-October as stocks pulled back sharply from record levels.
The Chicago Board Options Exchange (CBOE) Volatility Index, commonly known as the VIX, reached an intraday high of 15.27 on a scale of 1-100 where 20 represents the historic average. The so-called “investor fear gauge” eventually settled at 14.32, having gained 13.5%.
In stocks, the large-cap S&P 500 Index (SPY) fell 0.9% on Monday.
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 5.2%.
ProShares Short VIX Short-Term Futures (SVXY) to track the inverse daily performance of the S&P 500 VIX Short Term Futures Index. SVXY declined 2.7%.
ProShares Ultra Short Term VIX Futures: (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 8.4%.
VelocityShares Daily 2x VIX Short Term Futures ETN (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 9.9%.
The Final Word: Volatility is making waves again, which means that the overbought rally on Wall Street could fade heading into the holidays. VIX is still down more than 48% year-to-date but is well above levels seen in 2017 when stocks were regularly hitting record highs.