CBOE VIX Volatility Index finishes lower on Monday.
The CBOE VIX (NYSEARCA;VXX) gave back early gains to finish in negative territory on Monday, as stocks returned to positive territory in the final moments of trade.
The Chicago Board Options Exchange (CBOE) Volatility Index closed down more than 3% at 15.60, reversing an earlier gain of 12%. The so-called “fear index” peaked at 18.08 as stocks sold off after the open.
In stocks, the large-cap S&P 500 Index (NYSEARCA:SPY) rose 0.3% on Monday.
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 advanced 0.3%.
ProShares Short VIX Short-Term Futures (SVXY) to track the inverse daily performance of the S&P 500 VIX Short Term Futures Index. SVXY finished flat.
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 advanced 0.2%.
VelocityShares Daily 2x VIX Short Term 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 advanced 0.7%.
The Final Word: Despite the recent bout of volatility, stocks are on track for a potentially solid month as corporate earnings season gets underway. Wall Street analysts are forecasting another solid quarter of earnings growth for the S&P 500.