CBOE VIX Volatility Index pulls back on Monday as stocks recover.
The CBOE VIX (VXX) declined on Monday, as stocks staged a large relief rally following back-to-back weekly declines.
The Chicago Board Options Exchange Volatility Index reached an intraday low of 25.38 on a scale of 1-100 where 20 represents the historical average. It finished down 4.7% at 25.61.
In stocks, the large-cap S&P 500 Index (SPY) rose 1.3% 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 declined 1.7%.
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 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 2.7%.
The Final Word: Investors continue to eye the global spread of COVID-19. As of Monday, more than 29.1 million people had been infected with the novel disease, including 6.5 million in the United States.