CBOE VIX Volatility Index continues to hold above 60.
The CBOE VIX (VXX) declined slightly on Thursday, but continued to hold above 60 even as stocks staged another relief rally.
The Chicago Board Options Exchange (CBOE) Volatility Index traded within a 10-point range on Thursday. It would eventually settle down 4.7% at 60.96 on a scale of 1-100 where 20 represents the historic average.
In stocks, the large-cap S&P 500 Index (SPY) rallied 6.2% on Thursday.
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 10.4%.
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 4.1%.
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 13%.
VelocityShares Daily 2x VIX Short Term Futures ETN (TVIX) TVIX is a leveraged VIX ETN that tracks an index of futures contracts on the VIX Short-Term Futures Index. It provides 200% leverage on the volatility moves. TVIX declined 15.2%.
The Final Word: Markets are rallying on a $2 trillion stimulus bill that passed through the Senate Wednesday night. It now heads to the House of Representatives for consideration.