CBOE VIX Volatility Index dips for a second straight session even as stocks struggled for direction.
The CBOE VIX (NYSEARCA:VXX) edged lower on Wednesday, as technology shares rebounded in an otherwise mixed session for Wall Street.
The Chicago Board Options Exchange (CBOE) Volatility Index declined 2.7% to close at 11.02. That was its second straight decline. The indicator touched a session low of 10.86.
In equities, the S&P 500 Index (NYSEARCA:SPY) closed flat on Wednesday.
Major VIX ETFs:
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 0.1%.
VelocityShares Daily Inverse VIX Short Term Futures ETN: (NYSEARCA:XIV) to track the inverse daily performance of the S&P 500 VIX Short Term Futures Index. XIV advanced 0.2%.
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 0.4%.
VelocityShares Daily Short Term VIX 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 0.4%.
The Final Word: Volatility has been on the rise as of late, but has shown little evidence of mean reversion. VIX readings continue to lag the historic average by a significant margin.