The CBOE VIX Volatility Index declined sharply on Friday.
The CBOE VIX (VXX) was back on the defensive Friday, as a narrow contingency of tech companies reported significant gains.
The Chicago Board Options Exchange Volatility Index fell 9.9% to 26.76 on a scale of 1-100 where 20 represents the historical average.
In stocks, the large-cap S&P 500 Index (SPY) rose 0.1% on Friday.
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 5.9%.
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 3.1%.
ProShares Ultra Short Term VIX Futures: (UVXY) UVXY is designed to deliver 1.5X (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 8.6%.
The Final Word: Investors continue to eye the global spread of COVID-19. As of Friday, more than 28.2 million people had been infected with the novel disease, including 6.4 million in the United States.